Note 9 - Business Acquisitions

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Business Combination Disclosure [Text Block]

(

9

)

Business Acquisitions

On

June 26, 2015,

WHEH entered into a Stock Purchase Agreement (the “Agreement”) with FSC. FSC is the owner of a proprietary trading platform and accompanying software. The Agreement was effective as of

July 1, 2015.

Pursuant to the terms of the Agreement, WHEH acquired all of the capital stock of FSC. In consideration, WHEH issued

70

Billion common shares at closing with the possibility of the issuance of an additional

130

billion common shares upon FSC meeting certain milestones as outlined in the Agreement. WHEH intended to employ FSC’s software and trading platform to enter the on-line trading industry. The acquisition was valued at the book value of FSC at the date of acquisition. During

2016,

the value of the software to WHEH was tested for impairment and it was decided that it should be fully impaired in the year.

The following table summarizes the assets acquired and liabilities assumed at the acquisition date:

Consideration Cash	$	-
Common Stock in WHEH (70 billion shares at no value)		-
Contingent Common Stock in WHEH (up to 130 billion shares at no value)		-
Recognized amounts of identifiable financial assets acquired and liabilities assumed
Financial Assets including cash at bank	$	41,711
Software		113,774
Liabilities including due to affiliates		(155,485	)
TOTAL identifiable net liabilities		-
Acquisition-related costs (included in selling, general and administrative expenses in WHEH’s income statement for the period ending September 30, 2015	$	1,500