Quarterly report pursuant to Section 13 or 15(d)

Sale of Net Operating Losses Sale of Net Operating Losses

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Sale of Net Operating Losses Sale of Net Operating Losses
3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Sale of Net Operating Losses
Sale of Net Operating Losses

On February 22, 2017, we sold $18,177,059 of gross State of New Jersey NOL’s relating to the 2014 and 2015 tax years for approximately $876,000 as well as $167,572 of state research and development tax credits. The sale resulted in the net receipt by the Company of approximately $970,000. This figure includes all costs and expenses associated with the sale of these state tax attributes as deducted from the gross sales price of $1,043,517.