COMMITMENTS AND CONTINGENCIES - Patent Acquisition (Details Narrative) (USD $)
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Jun. 03, 2014
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Jul. 31, 2013
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May 21, 2013
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Feb. 28, 2013
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Exercise price of five year option | ||||
Acquisition of Cox patents cash, purchase price | $ 1,000,000 | |||
Acquisition of Cox patents, common stock issued | 403,226 | |||
Obligated to pay Cox, net proceeds percentage | 12.50% | |||
Cash consideration for Mirror Worlds patent acquisition | 3,000,000 | |||
Cost of repurchase of Mirror Worlds warrants | 505,000 | |||
Issued 5-year warrants to purchase an aggregate shares of common stock | 2,250,000 | |||
60 days Warrants to purchase shares of common stock | 500,000 | |||
Additional 5-year warrants to purchase shares of common stock as a result of exercise of 60-day warrant | 250,000 | |||
Capitalized professional fees and filing fees related to Mirror Worlds patents | $ 409,000 | |||
Net proceeds percentage payable to third party from the monetization of the Mirror Worlds patent portfolio | ||||
First $125 Million | 10.00% | |||
Next $125 Million | 15.00% | |||
Over $250 Million | 20.00% |
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- Definition
Acquisition of four patents, common stock issued No definition available.
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Acquisition of four patents, purchase price No definition available.
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- Definition
Additional 5-year warrants to purchase shares of common stock as a result of exercise of 60-day warrant. No definition available.
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- Details
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Consideration patent acquisition. No definition available.
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No authoritative reference available. No definition available.
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First 125 Million. No definition available.
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Five year warrants purchase. No definition available.
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- Definition
Issued five year warrants to purchase aggregate. No definition available.
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- Details
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- Definition
Next 125 Million. No definition available.
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- Definition
Obligated to pay seller, net proceeds percentage No definition available.
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- Definition
Over 250 Million. No definition available.
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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