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Acquisition of Company
6 Months Ended
May. 31, 2015
Business Combinations [Abstract]  
Acquisition of Company

Note 14 – Acquisition of Company

 

The Company acquired 90% of the equity of Canalytix on March 25, 2015 in exchange for 100,000 shares of Series H Preferred Stock. The Company is currently in the process of valuing the acquired assets and liabilities and completing the purchase price allocation. Due to the timing of this acquisition, the purchase price allocation was not complete as of May 31, 2015. Accordingly, the purchase price in excess of the fair value of the net assets acquired of $410,839 has been recorded in other long-term assets in the accompanying Condensed Consolidated Balance Sheet. Upon the completion of the purchase price allocation, the excess purchase price will be allocated to goodwill, non-controlling interest and other identifiable assets. A presentation of the unaudited proforma income statements of the Company, had the acquisition occurred at the beginning of the fiscal year, for the six and three-month periods ended May 31, 2015 and 2014 is as follows:

 

 

   Six Months Ended  Three Months Ended  Six Months Ended  Three Months Ended
   5/31/2015  5/31/2015  5/31/2014  5/31/2014
Revenue  $113,448   $80,600   $415,015   $237,353 
                     
Loss from operations  $(90,523)  $(39,324)  $(826,498)  $(301,572)
                     
Net income (loss)  $(326,307)  $1,659,544   $(804,451)  $(901,637)
                     
Income (loss) per share  $0.00   $0.00   $0.00   $0.00