Quarterly report pursuant to Section 13 or 15(d)

Non-Cash Investing and Financing Transactions

v2.4.1.9
Non-Cash Investing and Financing Transactions
 3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Cash Flow, Supplemental Disclosures [Text Block]
NON-CASH INVESTING AND FINANCING
TRANSACTIONS
:
 
 
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During the three months ended March 31, 2015, a net amount of ClearPoint reusable components with a cost of $8,006 and accumulated depreciation of $3,640 was transferred from loaned systems to inventory at the net carrying cost. During the three months ended March 31, 2014, a net amount of ClearPoint reusable components with a cost of $47,329 and accumulated depreciation of $18,780 was transferred from loaned systems to inventory at the net carrying cost.
 
 
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In March 2014, the Company entered into an asset purchase agreement to sell certain intellectual property. The asset purchase price was satisfied through the cancellation of related party convertible notes payable in the aggregate amount of $4,338,601.
 
 
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In recording the March 2014 debt private placement transaction, the Company recorded the fair value of the warrants issued to the placement agent, in the amount of $30,210, as a deferred financing cost, and the Company recorded a corresponding amount to additional paid-in capital. In addition, warrants with a relative fair value of $413,057 were issued to investors in the debt private placement transaction. The relative fair value of these warrants was recorded as additional paid-in capital, which resulted in a corresponding debt discount.