Business Combination (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of preliminary allocation of the purchase price

The following represents the preliminary allocation of the purchase price:

Total purchase price - fair value of common stock issued	$	2,584,090

Fair value of tangible assets acquired:
Cash	$	1,367,211
Receivables		536,406
Inventory		881,273
Property and equipment		245,479
Other assets		359,587
Fair value of identifable intangible assets acquired:
Customer relationships		1,094,000
Developed technology		458,000
Trademarks and tradenames		461,000
Fair value of goodwill		637,528

Deferred tax liabilities, net		129,095
Fair value of liabilities assumed		3,327,299
	$	2,584,090

Schedule Of Provisional Estimated Fair Values

During the fourth quarter of 2015, as a result of obtaining new information about facts and circumstances that existed as of the acquisition date, the Company adjusted the provisional estimated fair values, as follows:

	As
	previously				Adjusted
	reported (1)		Adjustment		amount
Accounts receivable	$	557,112	$	(20,706)	$	536,406
Inventory		1,073,855		(192,582)		881,273
Property and equipment		250,636		(5,157)		245,479
Liabilities		3,329,058		(1,759)		3,327,299
Deferred tax liabilities		-		129,095		129,095
Goodwill		291,747		345,781		637,528
Provision (benefit) for income taxes		1,662		(130,757)		(129,095)

(1) As reported on Form 10-Q for the quarter ended September 30, 2015

Schedule of unaudited pro forma financial information

The pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the acquisition occurred as of January 1, 2014 or that may be obtained in the future:

Unaudited pro forma results	Year Ended December 31,
	2015		2014

Revenues	$	5,231,844	$	8,904,244
Net loss	$	(20,751,552)	$	(14,520,497)
Net loss per share	$	(2.52)	$	(6.87)