Acquisition of Cooltech Corp.

9 Months Ended

Sep. 30, 2018

Cooltech Corp. [Member]

Acquisition

NOTE 23. Acquisition of Cooltech Corp.

On June 1, 2018, the Company exercised an option to acquire all of the outstanding stock of a Canadian shell company called Cooltech Corp. for $1.00.  At the time of the acquisition, Cooltech Corp. had $21,000 in cash and $21,000 of accounts payable, plus entitlement to a pending claim in an intellectual property lawsuit. Subsequent to the acquisition, the company recognized a $503,000 gain on the pending claim in the three months ended June 30, 2018 and an additional $774,000 in the three months ended September 30, 2018.