Annual report pursuant to Section 13 and 15(d)

Reorganization and Recapitalization (Tables)

v3.21.2
Reorganization and Recapitalization (Tables)
 12 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Schedule of purchase price consideration paid to accounting acquirees
    CBR Pharma     180 LP     Total  
Debt assumed   $ -     $ 270,000     $ 270,000  
Shares at fair value (a)     24,927,274       20,939,224       45,866,498  
Total Purchase Consideration   $ 24,927,274     $ 21,209,224     $ 46,136,498  
Schedule of assets acquired and liabilities assumed, based on their fair values on acquisition date
    CBR Pharma     180     Total  
Cash   $ 47,268     $ 38,810     $ 86,078  
Prepaid expenses (1)     126,606       595,849       722,455  
Other receivables     -       420,000       420,000  
Deposits     86,192       -       86,192  
Property and equipment     47,958       -       47,958  
Technology licenses (2)     1,609,000       -       1,609,000  
In process research and development (2)     1,584,000       10,943,000       12,527,000  
Due from (to) related parties     783,593       (555,100 )     228,493  
Accounts payable and accrued expenses     (1,528,894 )     (134,081 )     (1,662,976 )
Deferred income, related party (3)     (36,537 )     (492,329 )     (528,866 )
Deferred tax liabilities (4)     (832,000 )     (2,845,180 )     (3,677,180 )
Net fair value of assets acquired and liabilities assumed     1,887,186       7,970,969       9,858,154  
Goodwill (2)     23,040,089       13,238,255       36,278,344  
Total   $ 24,927,275     $ 21,209,224     $ 46,136,498  
Schedule of pro forma
    For the
Year Ended		  
    December 31,
2019		  
Revenues   $ -  
Operating loss   $ (25,300,321 )
Net loss   $ (29,437,823 )