XML 45 R34.htm IDEA: XBRL DOCUMENT v3.20.2

Geneos Therapeutics, Inc. (Tables)

9 Months Ended

Sep. 30, 2020

Noncontrolling Interest [Abstract]

Schedule of Equity Method Investments

The following table shows the amounts related to the deconsolidation accounting:

Working capital (excluding cash)			$	(59,992)
Note payable			171,620
Fixed assets, net of accumulated depreciation			(16,340)
Carrying value of noncontrolling interest			3,181,640
Fair value of investment in Geneos retained			3,618,998
Gain on deconsolidation of Geneos			(4,121,075)
Decrease in cash resulting from the deconsolidation of Geneos			$	2,774,851

The details of the Company’s 47% retained equity investment in Geneos is shown in the table below, with fair values calculated as of June 1, 2020, the date of deconsolidation.

Geneos Share Class			Shares						Price per Share						Fair Value
Common			3,000,000						$	0.273					$	819,000
Preferred			2,113,206						$	1.325					$	2,799,998
Total			5,113,206												$	3,618,998

The remaining $1.8 million loss has been allocated to the Company’s preferred stock investment in Geneos, thereby reducing the balance to $958,000 as of September 30, 2020 as shown in the table below:

Investment in Geneos upon deconsolidation						$	3,618,998
Share in net loss of Geneos						$	(2,661,431)
Investment in Geneos as of September 30, 2020						$	957,567

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The assumptions used in the fair value calculation as of June 1, 2020 are presented below:

Expected term (years)			2.92
Volatility			70%
Risk-free interest rate			2.46%
Geneos enterprise value			$4,966,531

X

- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_NoncontrollingInterestAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration