Quarterly report pursuant to Section 13 or 15(d)

Goodwill and In-process R&D

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Goodwill and In-process R&D
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and In-process R&D

5. Goodwill and In-process R&D


As of June 30, 2017 and December 31, 2016, the Company had goodwill of $2,189,338 and $0, respectively. Based upon the results of the qualitative testing, the Company will conclude whether it is more likely than not that the fair values of the Company’s goodwill are in excess of its carrying value or if an impairment has occurred.


As of June 30, 2017 and December 31, 2016, the Company had in-process R&D of $5,866,000 and $0, respectively. Acquired in-process R&D is stated at cost and may be immediately expensed if there is no alternative future use. Otherwise, the acquired in-process R&D is reviewed annually for impairment or more frequently as changes in circumstances or the occurrence of events suggest that the remaining value may not be recoverable.