Merger With Vaporin, Inc. (Tables)

3 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

Schedule of Business Considertion

The fair value was based on a preliminary valuation.

Purchase Consideration
Value of consideration paid:	$	17,735,084
Tangible assets acquired and liabilities assumed at fair value
Cash	$	136,468
Due from merchant credit card processor		201,141
Accounts receivable		81,256
Inventories		981,558
Property and Equipment		206,668
Other Assets		28,021
Notes payable, net of debt discount of $54,623		(512,377	)
Notes payable – related party		(1,000,000	)
Accounts Payable and accrued expenses		(775,753	)
Derivative Liabilities		(49,638	)
Excess liabilities over assets assumed	$	(706,685	)
Consideration:
Value of common stock issued		17,028,399
Excess liabilities over assets assumed		706,685
Total purchase price	$	17,735,084
Identifiable intangible assets
Trade names and technology		1,500,000
Customer relationships		488,274
Assembled workforce		92,326
Total Identifiable Intangible Assets		2,080,600
Goodwill		15,654,484
Total allocation to identifiable intangible assets and goodwill	$	17,735,084

Schedule of Pro Forma Consolidated Results of Operations

The following presents the unaudited pro-forma combined results of operations of the Company with Vaporin as if the acquisition occurred on January 1, 2014.

	For the three months Ended
	March 31,
	2015			2014
Revenues	$	2,584,884		$	4,975,337
Net Loss	$	(5,378,927	)	$	(2,590,724	)
Net Loss per share	$	(0.17	)	$	(0.08	)
Weighted Average number of shares outstanding		31,260,183			30,766,022