|3 Months Ended|
Mar. 31, 2017
|Subsequent Events [Abstract]|
|Subsequent Events [Text Block]||
Note 9. Subsequent Events
On May 2, 2017, the Company entered into an Asset Purchase Agreement pursuant to which it acquired the mixed martial arts promotion business of Undisputed Productions, LLC, doing business as National Fighting Championships or NFC (“NFC”). The purchase price for the acquisition was approximately $512,000, of which $140,000 was paid in the form of cash and $372,000 was paid by delivering 273,304 shares of the Company’s common stock. In connection with the acquisition, 81,991 shares of the common stock issuable as part of the purchase price was placed in escrow to secure the financial performance of the NFC promotion business following the acquisition. In the event that the gross profit of the NFC promotion business is less than $100,000 during the 12-month period following the acquisition, all 81,991 shares will be forfeited and cancelled.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.