ACQUISITION OF GVR TRADE S.A. (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The purchase price was allocated based on the fair values of assets and liabilities as follows:

Assets acquired
Cash and cash equivalents	148,000
Other current assets	52,000
Property and equipment	23,000
Intangible assets
Customer relationships	143,000
Developed technology	88,000
Trademarks and other	31,000
Total assets acquired	485,000
Liabilities assumed
Current liabilities	(35,000	)
Deferred tax liability	(41,000	)
Deferred revenue, current	(27,000	)
Total liabilities assumed	(103,000	)
Net value of assets acquired and liabilities assumed	382,000
Total purchase price	1,206,000
Excess of purchase price over fair value of assets acquired and liabilities assumed - recorded as Goodwill	824,000