Quarterly report pursuant to Section 13 or 15(d)

CONTINGENT CONSIDERATION LIABILITY (Tables)

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CONTINGENT CONSIDERATION LIABILITY (Tables)
 6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
The summary of contingent consideration

During April 2017, in final settlement of the contingent consideration, the Company issued approximately $4.7 million in shares of its common stock, or common stock equivalent of approximately 18.1 million shares of its common stock, and made a cash payment of approximately $2.1 million. A summary is as follows:

 

Contingent Consideration Balance at March 31, 2017   $ 16,434,620  
         
Change in Fair Market Valuation of Contingent Consideration     77,286  
Payment of Contingent Consideration in Cash     (2,088,000 )
Settlement of Contingent Consideration     (4,739,638 )
Settlement of Contingent Consideration Recorded Against Additional Paid-In Capital     (4,692,697 )
Gain on Settlement of Contingent Consideration     (4,991,571 )
         
Contingent Consideration Balance at June 30, 2017   $ –  

The summary of additional market-based contingent consideration clawbacks
    Amount  
       
Contingent Consideration Summary      
       
Balance at December 31, 2016   $ 12,085,859  
Change in Fair Market Valuation of Contingent Consideration     4,348,761  
         
Balance at March 31, 2017 and April 1, 2017   $ 16,434,620  
         
Contingent Consideration Detail        
         
Performance-Based Cash Contingent Consideration   $ 2,088,000  
Market-Based Stock Contingent Consideration     14,346,620  
         
    $ 16,434,620