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Acquisitions - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Nov. 04, 2019
Apr. 22, 2019
Goodwill $ 21,062,455 $ 21,062,455    
Merger Agreement [Member] | Oncotelic, Inc. [Member]        
Cash       $ 182,883
Prepaid expense       56,175
Accounts payable and other current liabilities assumed       (1,391,302)
Net assets/ liability acquired       (1,152,244)
Goodwill [1]       4,879,999
Total purchase price [2]       $ 3,727,755
Merger Agreement [Member] | PointR [Member]        
Cash     $ 6,403  
Fixed Assets     56,792  
Other assets assumed (excluding cash and fixed assets)     260,905  
In-process research and development     1,377,200  
Liabilities assumed     (17,964)  
Net assets/ liability acquired     1,683,336  
Goodwill [3]     16,182,456  
Total purchase price [4]     $ 17,865,792  
[1] The primary items that generate goodwill include the value of the synergies between the acquired company and Oncotelic, Inc. and the acquired assembled workforce, neither of which qualifies for recognition as an intangible asset. Goodwill is the excess of the purchase price over the fair value of the underlying net tangible and identifiable intangible assets. In accordance with applicable accounting standards, goodwill is not amortized but instead is tested for impairment at least annually or more frequently if certain indicators are present. Goodwill and intangibles is not deductible for tax purposes. The Company has considered the valuation as a preliminary allocation of assets and liabilities and may adjust such estimates in the future, if deemed material.
[2] The total purchase price of $3,727,755 represents the consideration transferred from Mateon in the Merger and was calculated based on the number of shares of Common Stock outstanding at the date of the Merger.
[3] The primary items that generate goodwill include the value of the synergies between the acquired company and PointR and the acquired assembled workforce, neither of which qualifies for recognition as an intangible asset.Goodwill is the excess of the purchase price over the fair value of the underlying net tangible and identifiable intangible assets. In accordance with applicable accounting standards, goodwill is not amortized but instead is tested for impairment at least annually or more frequently if certain indicators are present. Goodwill and intangibles is not deductible for tax purposes.
[4] The total purchase price of $17,865,792 represents the consideration transferred from Mateon in the Merger and was calculated based on the number of shares of Common Stock plus the preferred shares outstanding but convertible into Common Stock outstanding at the date of the Merger and includes $2,625,000 of contingent consideration of shares issuable to PointR shareholders upon achievement of certain milestones.