Quarterly report pursuant to Section 13 or 15(d)

NON-CONTROLLING INTEREST

v3.21.2
NON-CONTROLLING INTEREST
9 Months Ended
Sep. 30, 2021
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Disclosure [Text Block]

NOTE 10 NON-CONTROLLING INTEREST

 

On November 7, 2018, the Company formed a subsidiary, now known as ViralClear, to pursue additional applications of the PURE EP™ signal processing technology outside of cardiac electrophysiology, and subsequently in 2020, was repurposed to develop merimepodib, a broad-spectrum anti-viral agent that showed potential for the treatment of COVID-19. Since late 2020, ViralClear has been realigned with its original objective of pursuing additional applications of the PURE EP™ signal processing technology outside of cardiac electrophysiology.

 

As of September 30, 2021 and December 31, 2020, the Company had a majority interest in ViralClear of 68.44% and 70.21%, respectively.  

 

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

 

Net profit attributable to the non-controlling interest for the three months ended September 30, 2021 (000’s):

 

Net Income

  $ 19  

Average Non-controlling interest percentage of profit/losses

    31.6

%

Net income attributable to the non-controlling interest

  $ 6  

 

Net loss attributable to the non-controlling interest for the three months ended September 30, 2020 (000’s):

 

Net loss

  $ (5,540

)

Average Non-controlling interest percentage of profit/losses

    30.6

%

Net loss attributable to the non-controlling interest

  $ (1,696

)

 

Net loss attributable to the non-controlling interest for the nine months ended September 30, 2021 (000’s):

 

Net loss

  $ (1,953

)

Average Non-controlling interest percentage of profit/losses

    29.9

%

Net loss attributable to the non-controlling interest

  $ (584

)

 

Net loss attributable to the non-controlling interest for the nine months ended September 30, 2020 (000’s):

 

Net loss

  $ (26,272

)

Average Non-controlling interest percentage of profit/losses

    23.9

%

Net loss attributable to the non-controlling interest

  $ (6,282

)

 

The following table summarizes the changes in non-controlling interest for the nine months ended September 30, 2021 (000’s):

 

Balance, December 31, 2020

  $ 802  

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

    220  

Net loss attributable to non-controlling interest

    (584

)

Balance, September 30, 2021

  $ 438