Gain on Sale of eSign

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Gain on Sale of eSign

Gain on Sale of eSign

On October 15, 2014, Wave entered into an Asset Purchase Agreement (the “Agreement”) with DocMagic, Inc. (“DocMagic”) to sell the eSignSystems, a product line of Wave Systems Corp., to DocMagic for approximately $1,214,000 (the “Transaction”). The Transaction closed on October 16, 2014. Wave recorded a gain on the sale of $1,304,579 which consisted of the proceeds received of $1,214,082, adjusted for the reversal of deferred revenue for which Wave was no longer obligated to fulfill and accounts receivable balances that are payable to DocMagic per the terms of the Agreement.