Quarterly report pursuant to Section 13 or 15(d)

Deposit Media Library

Deposit Media Library
9 Months Ended
Sep. 30, 2016
Acquisition Of Intangible Assets Disclosure [Text Block]
Note 4. Deposit Media Library
On March 1, 2016, the Company entered into an agreement to purchase the MMA and kickboxing video libraries of Louis Neglia’s Martial Arts Karate, Inc. related to the Louis Neglia’s Ring of Combat and Louis Neglia’s Kickboxing events and shows for cash and shares of common stock. The Company also acquired a right of first refusal to acquire the rights to all future Louis Neglia MMA and kickboxing events. The total consideration paid to acquire the rights to the MMA and kickboxing event libraries was $155,000. An initial payment of $15,500 was made to Louis Neglia in March 2016 and a second payment of $10,000 was made in July 2016. Upon completion of the IPO on September 30, 2016, the Company closed on the assets. The balance of the cash portion of the purchase price, $129,500, was paid in October 2016.