Quarterly report pursuant to Section 13 or 15(d)

NON-CONTROLLING INTEREST

v3.21.1
NON-CONTROLLING INTEREST
3 Months Ended
Mar. 31, 2021
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Disclosure [Text Block]

NOTE 10 NON-CONTROLLING INTEREST

 

On November 7, 2018, the Company formed ViralClear Pharmaceuticals, Inc., a Delaware Corporation, formerly known as NeuroClear Technologies, Inc. for the purpose to pursue additional applications of the PURE EP™ signal processing technology outside of electrophysiology and subsequently in 2020 was repurposed to develop a broad-spectrum anti-viral agent that had potential against the COVID-19 virus. In late 2020, ViralClear again was repurposed back to pursuing additional applications of the PURE EP™ signal processing technology outside of cardiac electrophysiology.

 

As of March 31, 2021 and December 31, 2020, the Company had a majority interest in ViralClear of 70.2%.  

 

A reconciliation of the ViralClear Pharmaceuticals, Inc. non-controlling loss attributable to the Company:

 

Net loss attributable to the non-controlling interest for the three months ended March 31, 2021:

 

Net loss

  $ (804,642

)

Average Non-controlling interest percentage of profit/losses

    29.8

%

Net loss attributable to the non-controlling interest

  $ (239,421

)

 

Net loss attributable to the non-controlling interest for the three months ended March 31, 2020:

 

Net loss

  $ (7,621,328

)

Average Non-controlling interest percentage of profit/losses

    18.7

%

Net loss attributable to the non-controlling interest

  $ (1,427,813

)

 

The following table summarizes the changes in non-controlling interest for the three months ended March 31, 2021:

 

Balance, December 31, 2020

  $ 802,269  

Allocation of equity to non-controlling interest due to equity-based compensation issued

    19,540  

Net loss attributable to non-controlling interest

    (239,421

)

Balance, March 31, 2021

  $ 582,388