NOTE 13  ACQUISITION On July 31, 2017, we acquired 100% of the capital stock of Lewis &amp; Clark, Pharmaceuticals, Inc., a Virginia Corporation (L&amp;C), pursuant to the terms of a share exchange agreement (Agreement) dated July 31, 2017 (Closing Date), by and among, the Company, L&amp;C, certain principals of L&amp;C (the Principals) and all of the existing shareholders of L&amp;C (Shareholders). As consideration for the acquisition of L&amp;C, the Company agreed to issue an aggregate of 7,122,172 shares of the Companys common stock (Payment Shares) to the Shareholders, accounting for, subsequent to the closing of the transaction, the Shareholders owning 50% of the issue and outstanding capital stock of the Company (including common shares issuable upon conversion of the Companys outstanding preferred stock). The shares issued for the acquisition of L&amp;C have been valued at $2,492,760. The Principals have agreed to establish escrow accounts with respect to an aggregate of 973,251 of the Payment Shares pursuant to a share escrow agreement (Escrow Agreement) in order to satisfy certain indemnification obligations to the extent such may arise under the Agreement for the benefit of the Company, its shareholders, and its personnel. The Agreement contains certain customary indemnification provisions with respect to the Company one on hand and L&amp;C and the Principals, on the other hand. Additionally, pursuant to the Agreement, all Shareholders that receive at least 5% of the Payment Shares (at least 356,109 shares) (including any shares held in escrow) agree to vote such shares in accordance with the recommendation of the Companys board of directors (Board) with respect to any matter to be voted upon by shareholders of the Company for a period of eighteen (18) months from the Closing Date. Furthermore, each Shareholder agrees that for a period of eighteen (18) months from the Closing Date, it will not sell or transfer any of the Payment Shares it receives pursuant to the Agreement, except that if a Shareholder is employed by the Company, it may sell up to five percent (5%) of Payment Shares it receives on each ninety (90) day period following the one (1) year anniversary of the Closing Date. The preliminary allocation of the purchase price to the assets acquired and liabilities assumed based on the estimated fair values is as follows (in thousands): Cash $ 23 Prepaid expenses 3 Equipment 353 Goodwill 2,159 Total assets acquired 2,538 Accounts payable and other liabilities (45 ) Total $ 2,493 The above estimated fair value of the intangible assets of L&amp;C is based on a preliminary purchase price allocation prepared by management. As a result, during the preliminary purchase price allocation period, which may be up to one year from the business combination date, we may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. After the preliminary purchase price allocation period, we record adjustments to assets acquired or liabilities assumed subsequent to the purchase price allocation period in our operating results in the period in which the adjustments were determined. Due to the curtailment of business activity in February 2018, the Company determined that the goodwill assigned to the Lewis &amp; Clark, Pharmaceuticals, Inc. acquisition had become fully impaired as of December 31, 2017. Accordingly, we recorded a goodwill impairment charge of $2.2 million during the year ended December 31, 2017. The Company also determined that the office and lab equipment acquired pursuant to the Lewis &amp; Clark, Pharmaceuticals, Inc. acquisition had become fully impaired as of December 31, 2017. Accordingly, we recorded an impairment charge of $0.3 million during the year ended December 31, 2017. Pro forma results The following tables set forth the unaudited pro forma results of the Company as if the acquisition of L&amp;C had taken place on the first day of the periods presented. These combined results are not necessarily indicative of the results that may have been achieved had the companies been combined as of the first day of the periods presented. December 31, 2017 2016 Revenue $  $  Net loss attributable to common shareholders (13,842 ) (5,281 ) Net loss per share (1.54 ) (0.62 ) The amounts of revenue and loss of L&amp;C since the acquisition date included in the consolidated statement of operations for the year ended December 31, 2017 are approximately $0 and ($2,813,000), respectively, including goodwill impairment of approximately $2,159,000.