XML 26 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Note 10 - Contingency
6 Months Ended
Jun. 30, 2017
Notes  
Note 10 - Contingency

NOTE 10 – CONTINGENCY

 

On November 19, 2015, Family Medicine Pharmacy, LLC filed a class-action claim against Trxade Group, Inc. and its wholly owned subsidiary Westminster Pharmaceutical, LLC, Inc. (Family Medicine Pharmacy, LLC v. Trxade Group, Inc. and Westminster, Inc., Case No.: 1:15-CV-00590-KD-B, United States District Court, Southern District of Alabama, Mobile Division). Family Medicine has served Trxade for allegedly utilizing a “junk fax” advertising program. On June 6, 2016, we entered a binding memorandum of understanding with the plaintiff related to this litigation to resolve all claims in exchange for Trxade funding a settlement fund in the amount of $200,000. The final judgment and approval was entered and funded on March 17, 2017 for $200,000. An accrual of $200,000 is recorded on book as of December 31, 2016.