XML 33 R20.htm IDEA: XBRL DOCUMENT

Note 14 - Marketing Agreements	12 Months Ended
Dec. 31, 2017
Disclosure Text Block [Abstract]
Note 14 - Marketing Agreements	NOTE 14 – MARKETING AGREEMENTS The Company signs marketing agreements with professional trainers and athletes to help promote the Company’s products and services. Effective September 1, 2016, the Company entered into a three-year marketing agreement with Neymar Jr, a professional soccer player out of Brazil. Under the marketing agreement, the Company was required to pay 2,500,000 EUR (approximately $2,715,000 USD) in semiannual payments of 500,000 EUR (approximately $543,000) plus 2% royalty payments. The Company also agreed to issue 13,961 post-split shares to Neymar Jr. during the contract period. The Company recorded the full amount of the agreement, including the issuance of shares, during the quarter ended September 30, 2016. As of December 31, 2016, the Company amortized approximately $411,000 and had a remaining prepaid of approximately $2,336,000. This contract was included in the sale of the subsidiaries during 2017 and amortization of approximately $700,000 was included in discontinued operations for the year ended December 31, 2017. During November 2016, the Company commenced a three-year agreement with Mo Farah, a world-class runner, that required payments of $50,000 in year one and $100,000 in years two and three, for a total of $250,000. Approximately $8,300 was expensed during 2016. This contract was included in the sale of the subsidiaries during 2017. Total marketing expense from athlete contracts was approximately $718,000 and $419,000 for the years ended December 31, 2017 and 2016, respectively. These amounts are included in discontinued operations.

Note 14 - Marketing Agreements

12 Months Ended

Dec. 31, 2017

NOTE 14 – MARKETING AGREEMENTS

The Company signs marketing agreements with professional trainers and athletes to help promote the Company’s products and services. Effective September 1, 2016, the Company entered into a three-year marketing agreement with Neymar Jr, a professional soccer player out of Brazil. Under the marketing agreement, the Company was required to pay 2,500,000 EUR (approximately $2,715,000 USD) in semiannual payments of 500,000 EUR (approximately $543,000) plus 2% royalty payments. The Company also agreed to issue 13,961 post-split shares to Neymar Jr. during the contract period. The Company recorded the full amount of the agreement, including the issuance of shares, during the quarter ended September 30, 2016. As of December 31, 2016, the Company amortized approximately $411,000 and had a remaining prepaid of approximately $2,336,000. This contract was included in the sale of the subsidiaries during 2017 and amortization of approximately $700,000 was included in discontinued operations for the year ended December 31, 2017.

During November 2016, the Company commenced a three-year agreement with Mo Farah, a world-class runner, that required payments of $50,000 in year one and $100,000 in years two and three, for a total of $250,000. Approximately $8,300 was expensed during 2016. This contract was included in the sale of the subsidiaries during 2017.

Total marketing expense from athlete contracts was approximately $718,000 and $419,000 for the years ended December 31, 2017 and 2016, respectively. These amounts are included in discontinued operations.