Business Combination - Merger Between Uroplasty, Inc. and Vision-Sciences, Inc (Tables)

3 Months Ended

Jun. 30, 2015

Business Combination - Merger Between Uroplasty, Inc. and Vision-Sciences, Inc [Abstract]

Schedule of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows:

Cash and cash equivalents	$	2,020,000
Accounts receivable		4,249,000
Inventories		4,462,000
Other current assets		369,000
Property, plant and equipment		817,000
Goodwill		18,750,000
Other intangibles		13,660,000
Other non-current assets		97,000
Total assets acquired		44,424,000
Accounts payable and other liabilities		5,209,000
Deferred revenue		176,000
Convertible debt – related party		22,530,000
Other non-current liabilities		40,000
Total liabilities assumed		27,955,000
Total purchase price	$	16,469,000

Schedule of Recognition of Intangible Assets

The allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of the following intangible assets:

	Amount		Weighted Average Life-Years
Developed technology	$	6,200,000		7
Customer relationships		7,270,000		5
Trade names		190,000		10
	$	13,660,000

Schedule of Supplemental Pro forma Combined Results of Operations

The supplemental unaudited pro forma net sales and net loss of the combined entity had the acquisition been completed on April 1, 2013:

	Three months ended June 30, 2014
Supplemental pro forma combined results of operations:
Net sales	$	10,137,000
Net loss	$	(5,040,439	)
Loss per share – basic and diluted	$	(0.20	)

Schedule of Adjustments to Supplemental Pro forma Combined Results of Operations

Adjustments to the supplemental pro forma combined results of operations are as follows:

	Three months ended June 30, 2014
Increase in amortization of intangibles	$	594,000
Interest amortization on related party debt		279,000
Increase in net loss	$	873,000