Acquisition, Discontinuation of Operations and Deconsolidation of Vitel and Oncbiomune Mexico (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Summarizes the Estimated Fair Value of Assets Acquired and Liabilities Assumed

Based upon the purchase price allocation, the following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition:

Cash	$	39,144
Accounts receivable		161,466
Inventories		54,952
Recoverable taxes		50,792
Other current assets		278
Property and equipment		480
Goodwill and other intangible assets		4,718,817
Total assets acquired at fair value		5,025,929
Accounts payable and accrued expenses		432,354
Payroll taxes		6,224
Total liabilities assumed		438,578
Total purchase consideration	$	4,587,351

Schedule of Discontinued Operations Financial Statements

The assets and liabilities classified as discontinued operations in the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2018 and 2017 is set forth below.

	December 31,
	2018		2017
Assets:
Current assets:
Cash	$	—	$	—
Total current assets		—		—
Total assets	$	—	$	—
Liabilities:
Current liabilities:
Accounts payable	$	686,547	$	692,592
Due to related parties		—		432
Payroll liabilities		—		1,972
Total current liabilities		686,547		694,996
Total liabilities	$	686,547	$	694,996

The summarized operating result of discontinued operations included in the Company’s consolidated statements of operations is as follows:

	Years Ended December 31,
	2018		2017
Revenues	$	—	$	445,601
Cost of revenues		—		255,866
Gross (loss) profit		—		189,735
Operating expenses:
Compensation expense		—		335,381
Professional fees		—		171,043
Impairment loss – goodwill and other intangibles		—		4,760,646
General and administrative expenses		—		235,188
Total operating expenses		—		5,502,258
Loss from operations		—		(5,312,523	)
Other expense, net		—		(16,107	)
Loss from discontinued operations		—		(5,328,630	)
Loss from disposal of discontinued operations – impairment of tangible assets		—		(335,472	)
Loss from discontinued operations, net of income taxes	$	—	$	(5,664,102	)