Annual report pursuant to Section 13 and 15(d)

NON-CONTROLLING INTEREST

v3.20.1
NON-CONTROLLING INTEREST
12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Disclosure [Text Block]

NOTE 11 – NON-CONTROLLING INTEREST


On November 7, 2018, the Company formed NeuroClear, a Delaware Corporation, for the purpose to pursue additional applications of the PURE EP™ signal processing technology outside of electrophysiology. In 2019, NeuroClear sold an aggregate of 896,690 shares of its common stock for net proceeds of $5,011,309 to fund initial operations. As of December 31, 2019, the Company had a majority interest in NeuroClear of 87.8%.


A reconciliation of the NeuroClear Technologies, Inc. non-controlling loss attributable to the Company:


Net loss attributable to the non-controlling interest for the year ended December 31, 2019:


Net loss

  $ (3,807,763

)

Average Non-controlling interest percentage of profit/losses

    10.92

%

Net loss attributable to the non-controlling interest

  $ (415,849

)


The following table summarizes the changes in non-controlling interest for the nine months ended September 30, 2019:


Balance, December 31, 2018

  $ -  

Allocation of equity to non-controlling interest due to sale of subsidiary stock

    930,677  

Net loss attributable to non-controlling interest

    (415,849

)

Balance, December 31, 2019

  $ 514,828