Theralink Technologies Inc (THER)

[BooDog]

It's all explained in the 10-Q. And once $OBMP is cash positive, possibly even by the end of 2018, poof, gone.


Nope, I'm not going away either.


Impairment of long-lived assets



In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. Based on the Company’s review of long-lived assets for impairment, on September 30, 2017, the Company recognized an impairment loss of $4,736,692 since the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The impairment loss consists of an impairment of intangibles of $4,695,596 recorded in connection with the acquisition of Vitel (see Note 3) and the impairment of an acquired drug formula of $41,096.

Note 3 starts on page 12
https://www.sec.gov/Archives/edgar/data/1362703/000149315217013608/form10-q.htm

So essentially Vitel will be paying our own debt with the earned revenue over time. more products hitting the street very soon too...

The Vitel Acquisition is expected to transform OncBioMune into a revenue-generating international pharmaceutical company with a more diverse product line with a particularly deep reach throughout Mexico, Central and Latin America, and relationships across Europe and Asia. The Vitel Acquisition includes the acquisition of two drugs it licenses and sells in Mexico, Bekunis® for constipation and Cirkused® for stress. Approved for sale in the fourth quarter of 2016, the two over-the-counter products have generated significant sales that have exceeded Vitel’s early projections. Vitel has a total of seven other products that are either already in the registration stage or planned for launch later in 2017.