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Document and Entity Information - shares	6 Months Ended
Jun. 30, 2014	Aug. 11, 2014
Document and Entity Information
Entity Registrant Name	RestorGenex Corp
Entity Central Index Key	0001053691
Document Type	10-Q
Document Period End Date	Jun. 30, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18,468,125
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2014

Consolidated Balance Sheets (USD $) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents	$ 27,139,593	$ 254,964
Prepaid expenses, deposits and other assets	2,298,629	2,743,319
Total current assets	29,438,222	2,998,283
PROPERTY AND EQUIPMENT, NET.	56,263	11,262
OTHER ASSETS
Intangible assets, net	13,792,797	7,691,682
Goodwill	11,241,987	7,642,825
TOTAL ASSETS	54,529,269	18,344,052
CURRENT LIABILITIES
Accounts payable	252,141	1,520,206
Deferred salary and other compensation		571,328
Accrued interest	592,609	89,472
Other accrued expenses and liabilities	1,099,995	1,697,714
Due to related party	150,000
Due to officer		156,358
Rent liability for facilities no longer occupied	1,121,495	1,121,495
Notes payable	715,000	1,667,002
Note payable - related party	200,000	200,000
Obligation to issue stock for transfer of liabilities		1,854,743
Total current liabilities	4,131,240	8,878,318
Long-term liability - deferred taxes on acquisition	5,100,770	3,000,576
TOTAL LIABILITIES	9,232,010	11,878,894
COMMITMENTS AND CONTINGENCIES.
STOCKHOLDERS' EQUITY
Common stock: Issued and outstanding; $0.001 par value; 1,000,000,000 shares authorized; 2014 - 18,391,193; 2013 - 5,813,785	18,391	5,814
Additional paid-in-capital	112,051,825	67,390,493
Accumulated deficit	(66,772,957)	(60,937,550)
Total RestorGenex stockholders' equity	45,297,259	6,458,757
Non-controlling interest equity		6,401
Total stockholders' equity	45,297,259	6,465,158
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 54,529,269	$ 18,344,052

Consolidated Statements of Operations (USD $) - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations (USD $) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
EXPENSES
Research and development	$ 403,413		$ 403,413
General and administrative	261,632	$ 514,041	873,477	$ 1,138,715
Impairment of intangible assets		1,935,621	0	1,935,621
Warrants, options and stock compensation	141,315	2,279,552	291,200	3,595,700
Fair value of common stock exchanged for warrants and notes payable	2,706,105	3,069,792	2,706,105	3,069,792
Legal and professional services	384,604	290,603	516,290	433,706
Depreciation and amortization	610,515	7,481	1,088,619	16,168
TOTAL EXPENSES	4,507,584	8,097,090	5,879,104	10,189,702
LOSS FROM OPERATIONS	(4,507,584)	(8,097,090)	(5,879,104)	(10,189,702)
OTHER (INCOME)/EXPENSES
(Gain) on adjustments to fair value of derivative liability		(9,216,927)		(8,980,077)
(Gain) on extinguishment of derivative liability		(1,409,530)		(1,409,530)
Other (income) expenses	(188,936)	17,636	(238,575)	15,072
Interest expense	136,584	35,084	194,878	58,055
TOTAL OTHER INCOME	(52,352)	(10,573,737)	(43,697)	(10,316,480)
NET (LOSS) INCOME FROM CONTINUING OPERATIONS	(4,455,232)	2,476,647	(5,835,407)	126,778
Net loss from discontinued operations		(129,157)		(256,068)
NET (LOSS) INCOME	(4,455,232)	2,347,490	(5,835,407)	(129,290)
Preferred dividends		47,250		171,625
NET (LOSS) INCOME ATTRIBUTABLE TO HOLDERS OF RESTORGENEX COMMON STOCK	$ (4,455,232)	$ 2,300,240	$ (5,835,407)	$ (300,915)
Basic and diluted (loss) income per share for continuing operations (in dollars per share)	$ (0.35)	$ 0.87	$ (0.62)	$ 0.07
Basic and diluted loss per share for discontinued operations (in dollars per share)		(0.05)		(0.14)
TOTAL BASIC AND DILUTED (LOSS) INCOME PER SHARE (in dollars per share)	$ (0.35)	$ 0.82	$ (0.62)	$ (0.07)
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING	12,867,845	2,862,264	9,483,395	1,885,485
FULLY-DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING	12,867,845	2,862,264	9,483,395	1,885,485

Consolidated Statements of Cash Flows (USD $) - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows (USD $) - USD ($)	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS (USED IN) OPERATING ACTIVITIES
Net loss	$ (5,835,407)	$ (300,915)
Adjustments to reconcile net loss to net cash (used in) operations
Depreciation and amortization	1,088,619	17,098
Loss on disposal of fixed assets	6,056
Warrants, options, and stock compensation	291,200	3,607,283
Deferred income taxes	(238,129)
Impairment of intangible assets		1,935,621
Gain on extinguishment of derivative liability		(1,409,530)
Gain on adjustments to fair value of derivative liability		(8,980,077)
Fair value of common stock exchanged for warrants		3,069,792
Note payable issued for services		50,000
Loss on related party note payable settlement	1,829,561
Loss on settlement of issuing shares for liabilities	1,285,493
Changes in other assets and liabilities affecting cash flows from operations
Prepaid expenses, deposits and other assets	(111,615)	(49,349)
Accounts payable and accrued liabilities	(3,436,876)	1,209,083
Net cash (used in) operating activities	(5,121,098)	(850,994)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES
Proceeds on related party notes payable	400,000	200,000
Proceeds from issuance of common stock	31,605,727	417,500
Net cash provided by financing activities	32,005,727	617,500
NET INCREASE (DECREASE) CASH AND CASH EQUIVALENTS	26,884,629	(233,494)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	254,964	312,093
CASH AND CASH EQUIVALENTS AT END OF PERIOD	27,139,593	$ 78,599
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION
Shares issued to related party for convertible note payable and accrued interest	1,105,475
Shares issued for accrued liabilities, accounts payable and notes payable	$ 1,879,349

Business and Corporate History	6 Months Ended
Business and Corporate History	Jun. 30, 2014
Business and Corporate History.
Business and Corporate History	1. Business and Corporate History RestorGenex Corporation (“Company”) is a specialty biopharmaceutical company initially focused on developing products for dermatology, ophthalmology and women’s health. The Company is and will continue to review its products and technologies. Prior to the Company repositioning itself as a specialty biopharmaceutical company, the Company operated various entertainment and sports events which it acquired in a series of acquisitions beginning in March 2008. On March 14, 2008, pursuant to an agreement and plan of merger dated August 20, 2007 between Feris International, Inc. (“Feris”) and Pro Sports & Entertainment, Inc. (“PSEI”), Feris issued 49,500,000 shares of its common stock for all issued and outstanding shares of PSEI, resulting in PSEI becoming a wholly owned subsidiary of Feris and the surviving entity for accounting purposes. In July 2008, Feris’ corporate name was changed to Stratus Media Group, Inc. PSEI was organized on November 23, 1998 and specialized in various entertainment and sports events that it owned and operated. PSEI also owned Stratus Rewards LLC (“Stratus White”) that planned to operate a credit card rewards program. In June 2011, the Company acquired series A convertible preferred stock of ProElite, Inc. (“ProElite”), that organized and promoted mixed martial arts (“MMA”) matches. These holdings of series A convertible preferred stock provided the Company voting rights on an as-converted basis equivalent to a 95% ownership in ProElite. On February 5, 2009, ProElite entered into an asset purchase agreement and other related agreements with Explosion Entertainment, LLC (“Strikeforce”). Under the terms of the asset purchase agreement, Strikeforce acquired from ProElite certain fighter contracts, a library of televised ProElite events and specified related assets. Consideration paid for the assets consisted of (i) $3,000,000 in cash paid at closing, (ii) the assumption of certain liabilities relating to the assets sold and (iii) contingent consideration in the form of rights to receive a portion of the license fee earned by Strikeforce under a distribution agreement between Strikeforce and Showtime Networks Inc. (“Showtime”). ProElite was informed in March 2013 that Strikeforce was no longer conducting these Showtime events and there would be no further license fees received by ProElite. During the first quarter of 2013, the Company decided to focus on the MMA business and temporarily suspended development of its other businesses. Because of lack of working capital, effective June 30, 2013, the Company suspended operations of ProElite. Subsequent to June 30, 2013, following the Company’s repositioning as a specialty biopharmaceutical company, the Company’s Board of Directors voted to discontinue operations of ProElite effective March 31, 2014. The Company initiated its efforts to reposition itself as a special biopharmaceutical company with its acquisition of two businesses in November 2013 and then acquired two additional businesses in March 2014. Effective September 30, 2013, the Company entered into an agreement and plan of merger with Canterbury Acquisition LLC, Hygeia Acquisition, Inc., Canterbury Laboratories, LLC (“Canterbury”), Hygeia Therapeutics, Inc. (“Hygeia”) and Yael Schwartz, Ph.D., as holder representative, pursuant to which the Company agreed to acquire by virtue of two mergers all of the outstanding capital stock of Canterbury and Hygeia, with Canterbury and Hygeia becoming wholly owned subsidiaries of the Company. The consideration paid by the Company in connection with such mergers was the issuance by the Company of an aggregate of 1,150,116 shares of common stock issued to the stakeholders of Canterbury and Hygeia. Effective November 18, 2013, the mergers were completed, and Canterbury and Hygeia became wholly owned subsidiaries of the Company. On March 3, 2014, the Company entered into an agreement and plan of merger with Paloma Acquisition, Inc., Paloma Pharmaceuticals, Inc. (“Paloma”) and David Sherris, Ph.D., as founding stockholder and holder representative, pursuant to which the Company agreed to acquire by virtue of a merger all of the outstanding capital stock of Paloma, with Paloma becoming a wholly owned subsidiary of the Company. On March 28, 2014, the merger with Paloma was effected and the Company issued an aggregate of 2,500,000 shares of common stock to the holders of Paloma’s common stock and its derivative securities and assumed promissory notes of Paloma in the aggregate amount (including both principal amount and accrued interest) of approximately $1,130,500, to be paid on the first anniversary of the closing date of the Paloma merger. Also on March 3, 2014, the Company entered into an agreement and plan of merger with VasculoMedics Acquisition, Inc., VasculoMedics, Inc. (“VasculoMedics”) and Dr. Sherris pursuant to which the Company agreed to acquire by merger all of the outstanding capital stock of VasculoMedics, with VasculoMedics becoming a wholly owned subsidiary of the Company. The VasculoMedics merger was concurrently closed with and as a condition to the closing of the Paloma merger on March 28, 2014, with the Company issuing an aggregate of 220,000 shares of common stock to the VasculoMedics stockholders. On March 7, 2014, the Company effected a reverse stock split of one-for-100 with respect to its common stock and changed its corporate name from Stratus Media Group, Inc. to RestorGenex Corporation. All share data has been adjusted for all periods presented to reflect the reverse stock split. As part of the Company’s repositioning itself as a specialty biopharmaceutical company, effective March 5, 2014, the Company appointed Stephen M. Simes as Chief Executive Officer of the Company, and effective May 27, 2014, the Company appointed Phillip B. Donenberg as Chief Financial Officer of the Company.

Basis of Presentation and Significant Accounting Policies

6 Months Ended

Jun. 30, 2014

Basis of Presentation and Significant Accounting Policies.

Basis of Presentation and Significant Accounting Policies

2. Basis of Presentation and Significant Accounting Policies

Basis of Presentation

The financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated balance sheets at June 30, 2014 consolidates the accounts of ProElite, Canterbury, Hygeia, Paloma and VasculoMedics and the consolidated balance sheet at December 31, 2013 consolidates the accounts of ProElite, Canterbury and Hygeia. The consolidated statements of operations for the three and six months ended June 30, 2014 consolidate the accounts of Canterbury, Hygeia, along with results of Paloma and VasculoMedics from the date of acquisition, and include ProElite as discontinued operations. The consolidated statements of operations for the three months and six months ended June 30, 2013 include ProElite as discontinued operations. All significant intercompany balances were eliminated in consolidation.

Basic and Diluted Earnings Per Share (“EPS”)

Basic EPS is computed by dividing the income/(loss) available to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted EPS is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if all the potential shares, warrants and stock options had been issued and if the additional shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares were converted into common stock. Dilution is computed by applying the if-converted method for the outstanding convertible preferred shares. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later).

Discontinued Operations

The Company suspended operations of ProElite effective June 30, 2013. Following the repositioning of the Company as a specialty biopharmaceutical company, the Company’s Board of Directors voted to discontinue operations of ProElite effective March 31, 2014.

Use of Estimates

The preparation of the Company’s consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions that the Company may undertake in the future, actual results may differ from such estimates and assumptions.

Derivative Liabilities

On May 24, 2011, the Company entered into a securities purchase agreement with eight investors pursuant to which the Company sold 8,700 shares of a new series of convertible preferred stock designated as series E convertible preferred stock (“Original Series E”) for $1,000 per share, or an aggregate of $8,700,000. In October 2012, the Company sold 1,000 shares of Series E for $1,000,000 (“New Series E”). The Original Series E and New Series E together are referred to herein as “Series E”.

These Series E contained “full ratchet-down” anti-dilution protection that provided that if the Company issues securities for less than the then existing conversion price for the Series E or the exercise price of the warrants issued in connection with the issuance of the Series E, then the conversion price for Series E would be lowered to that price. Also, the exercise price for Series E warrants would be decreased to that lower price and the number of Series E warrants would be increased such that the product of the original exercise price times the original quantity would equal the lower exercise price times the higher quantity of Series E warrants.

Subsequent to the issuance of the Series E, the Company determined that the warrants for these financings included certain embedded derivative features as set forth in Accounting Standards Codification (“ASC”) Topic 815 “Derivatives and Hedging” and that this conversion feature of the Series E was not an embedded derivative because this feature was clearly and closely related to the host (Series E) as defined in ASC Topic 815. These derivative liabilities were initially recorded at their estimated fair value on the date of issuance and were subsequently adjusted each quarter to reflect the estimated fair value at the end of each period, with any decrease or increase in the estimated fair value of the derivative liability for each period being recorded as other income or expense. Since the value of the embedded derivative feature for the related warrants was higher than the value of both Series E transactions, there was no beneficial conversion feature recorded for either transaction, and the excess of the value of the embedded derivative feature over the value of the transaction was recorded in each period on the consolidated statements of operations as a separate line item.

Cash Equivalents

We consider all highly liquid investments purchased with maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Our financial instruments include cash and equivalents, receivables, accounts payable and accrued liabilities. The carrying amounts of financial instruments approximate fair value due to their short maturities.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. We record depreciation using the straight-line method over the following estimated useful lives:

Equipment		3 – 5 years
Furniture and fixtures		5 years
Software		3 years
Leasehold improvements		Lesser of lease term or life of improvements

Goodwill and Intangible Assets

Intangible assets as of June 30, 2014 consisted of goodwill and intangible assets arising from the acquisitions of Canterbury, Hygeia, Paloma and VasculoMedics. Goodwill as of December 31, 2013 arose from goodwill for the acquisitions of Canterbury and Hygeia. Goodwill is the excess of the cost of an acquired entity over the net amounts assigned to tangible and intangible assets acquired and liabilities assumed. The Company applies ASC Topic 350 “Intangibles - Goodwill and Other,” which requires allocating goodwill to each reporting unit and testing for impairment using a two-step approach.

The Company reviews the value of intangible assets and related goodwill as part of its annual reporting process, which occurs in March of each year. In between valuations, the Company conducts additional tests to determine if circumstances warranted additional testing for impairment.

To review the value of intangible assets and related goodwill as of December 31, 2013, the Company followed ASC Topic 350 and first examined the facts and circumstances for each event or business to determine if it was more likely than not that an impairment had occurred. If this examination suggested it was more likely that impairment had occurred, the Company then compared discounted cash flow forecasts related to the asset with the stated value of the asset on the balance sheet. The objective was to determine the value of each asset to an industry participant who is a willing buyer not under compulsion to buy and the Company is a willing seller not under compulsion to sell. Revenue from goodwill and intangible assets were forecasted based on the assumption they are standalone entities. These forecasts were discounted at a range of discount rates determined by taking the risk-free interest rate at the time of valuation, plus premiums for equity risk to small companies in general, for factors specific to the Company and the business.

Income Taxes

The Company utilizes ASC Topic 740 “Accounting for Income Taxes,” which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The provision for income taxes represents the tax payable for the period and the change during the period in deferred tax assets and liabilities.

As of June 30, 2014 and December 31, 2013, the Company had net operating loss carryforwards as follows:

	June 30, 2014		December 31, 2013
Combined NOL Carryforwards:
Federal	$	53,563,707	$	47,728,300
California	$	50,318,257	$	44,482,850

The net operating loss carryforwards for 2014 and 2013 begin expiring in 2022 and 2021, respectively. From December 31, 2012 to June 30, 2014, the outstanding shares of common stock increased from 890,837 to 18,391,193. This increase in the number of shares of common stock outstanding constitutes a change of ownership, under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), and similar state provisions, and is likely to significantly limit the ability of the Company to utilize these net operating loss carryforwards to offset future income. Accordingly, the Company recorded a 100% valuation allowance of the deferred tax assets at June 30, 2014 and December 31, 2013.

Stock-Based Compensation

The Company follows ASC Topic 718 “Share Based Payment,” using the modified prospective transition method. New awards and awards modified, repurchased or cancelled after January 1, 2006 trigger compensation expense based on the fair value of the stock option as determined by the Black-Scholes option pricing model. The Company amortizes stock-based compensation for such awards on a straight-line method over the related service period of the awards taking into account the effects of the employees’ expected exercise and post-vesting employment termination behavior. The Company accounts for equity instruments issued to non-employees in accordance with ASC Topic 718 and Emerging Issues Tax Force (“EITF”) Issue No. 96-18. The fair value of each option granted is estimated as of the grant date using the Black-Scholes option pricing model.

Reclassification

Certain prior period amounts were reclassified to conform to the manner of presentation in the current period. These reclassifications had no effect on the net (loss) or the stockholders’ equity.

Recently Issued Accounting Pronouncements

In April 2014, the Financial Accounting Standards Board (the “FASB”) issued guidance that changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. The change is effective for fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2014, which means the first quarter of the Company’s fiscal year 2015, with early adoption permitted. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. This new guidance will not affect the Company’s consolidated financial position, results of operations or cash flows.

In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:

Step 1: Identify the contract(s) with a customer.

Step 2: Identify the performance obligations in the contract.

Step 3: Determine the transaction price.

Step 4: Allocate the transaction price to the performance obligations in the contract.

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

This amendment is effective for public entities for fiscal years beginning after December 15, 2016 and interim periods within those years. Early application is not permitted. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements.

Other recent accounting pronouncements issued by the FASB (including its EITF), the American Institute of Certified Public Accountants (“AICPA”), and the SEC did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Acquisitions

6 Months Ended

Jun. 30, 2014

Acquisitions

Acquisitions

3. Acquisitions

Canterbury and Hygeia Acquisitions

Effective September 30, 2013, the Company entered into an agreement and plan of merger with Canterbury Acquisition LLC, Hygeia Acquisition, Inc., Canterbury Laboratories, LLC, Hygeia Therapeutics, Inc. and Yael Schwartz, Ph.D., as holder representative, pursuant to which the Company agreed to acquire by virtue of two mergers all of the outstanding capital stock of Canterbury and Hygeia, with Canterbury and Hygeia becoming wholly owned subsidiaries of the Company. The consideration paid by the Company in connection with such mergers was the issuance by the Company of an aggregate of 1,150,116 shares of common stock issued to the stakeholders of Canterbury and Hygeia. Effective November 18, 2013, the mergers were completed, and Canterbury and Hygeia became wholly owned subsidiaries of the Company.

The acquisition of Canterbury and Hygeia was a step in the implementation of the Company’s plan to reposition itself as a specialty biopharmaceutical company. The total purchase consideration for the Canterbury and Hygeia acquisition was $12,421,249 based upon a cost valuation approach. The value of certain patents at the time of purchase was $144,356 as reflected on the books of Canterbury, giving rise to an adjustment of $7,634,644 to the Company for the total value of the Canterbury and Hygeia intangible assets of $7,779,000. Total goodwill of $7,642,825 consisted of the $4,642,249 initial allocation of the purchase price plus the deferred tax liability of $3,000,576. For the three and six months ended June 30, 2014, expenses associated with Canterbury and Hygeia were $286,494 and $470,782 and included in the consolidated net loss of $4,455,232 and $5,835,407 for the three and six months ended June 30, 2014, respectively. Acquisition related costs related to this acquisition during the six months ended June 30, 2014 were nominal.

Paloma and VasculoMedics Acquisitions

On March 3, 2014, the Company entered into an agreement and plan of merger with Paloma Acquisition, Inc., Paloma Pharmaceuticals, Inc. and David Sherris, Ph.D., as founding stockholder and holder representative, pursuant to which the Company agreed to acquire by virtue of a merger all of the outstanding capital stock of Paloma, with Paloma becoming a wholly owned subsidiary of the Company. On March 28, 2014, the merger with Paloma was effected and the Company issued an aggregate of 2,500,000 shares of common stock to the holders of Paloma’s common stock and its derivative securities and assumed promissory notes of Paloma in the aggregate amount (including both principal amount and accrued interest) of approximately $1,130,500, to be paid on the first anniversary of the closing date of the Paloma merger.

Also on March 3, 2014, the Company entered into an agreement and plan of merger with VasculoMedics Acquisition, Inc., VasculoMedics, Inc. and Dr. Sherris pursuant to which the Company agreed to acquire by virtue of a merger all of the outstanding capital stock of VasculoMedics, with VasculoMedics becoming a wholly owned subsidiary of the Company. The VasculoMedics merger was concurrently closed with and as a condition to the closing of the Paloma merger on March 28, 2014, with the Company issuing an aggregate of 220,000 shares of common stock to the VasculoMedics stockholders.

The acquisitions of Paloma and VasculoMedics were additional steps in the implementation of the Company’s plan to reposition itself as a specialty biopharmaceutical company. The total purchase consideration for the Paloma and VasculoMedics acquisitions was $6,800,000 based upon a cost valuation approach. The excess of the purchase consideration over the fair value of the assets and liabilities acquired of $3,599,162 was allocated to goodwill. The assets acquired consist primarily of intangible assets of $6,609,120, net of assumed liabilities, which included primarily promissory notes in the aggregate principal amount, including accrued interest, of $1,151,725. For the three and six months ended June 30, 2014, expenses associated with the Paloma and VasculoMedics acquisitions were $505,787 and included in the consolidated net loss of $4,455,232 and $5,835,407 for the three and six month periods ended June 30, 2014, respectively. Acquisition related costs related to the Paloma and VasculoMedics acquisitions during the six months ended June 30, 2014 were nominal.

Pro Forma Financial Information

The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the acquisitions of Canterbury, Hygeia, Paloma and VasculoMedics had taken place on January 1, 2013. The pro forma information includes acquisition and integration expenses. The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date.

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2014			2013		2014			2013

Net revenues	$	—		$	—	$	—		$	—
Net (loss) income	$	(4,455,232	)	$	1,676,602	$	(6,073,817	)	$	(1,322,096	)
Basic and diluted (loss) income per share	$	(0.44	)	$	0.25	$	(1.45	)	$	(0.23	)

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Paragraph 1
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+ Details

Intangible Assets, Net

6 Months Ended

Jun. 30, 2014

Intangible Assets, Net

Intangible Assets, Net

6. Intangible Assets, Net

Intangible assets at June 30, 2014 (Unaudited) and December 31, 2013 were as follows:

	June 30, 2014							December 31, 2013
								Gross
	Gross Carrying		Accumulative			Intangible		Carrying		Accumulative			Intangible
	Amount		Amortization			Assets, net		Amount		Amortization			Assets, net

Definite lived intangible assets	$	14,228,628	$	(595,323	)	$	13,633,305	$	7,779,000	$	(87,318	)	$	7,691,682
In-process research and development costs (IPR&D)	159,492		—				159,492	—		—			—

Total intangible assets	$	14,388,120	$	(595,323	)	$	13,792,797	$	7,779,000	$	(87,318	)	$	7,691,682

We currently estimate amortization expense over each of the next five years as follows:

	Amortization
For the Twelve Months Ending	Expense
June 30, 2015	$	1,284,744
June 30, 2016	1,284,744
June 30, 2017	1,284,744
June 30, 2018	1,284,744
June 30, 2019	1,284,744
Thereafter	7,209,585

Notes Payable

6 Months Ended

Jun. 30, 2014

Notes Payable.

Notes Payable

12. Notes Payable

Notes payable were as follows:

	June 30,		December 31,
	2014		2013
	(Unaudited)
Note payable to the Company’s outside law firm and represented corporate and litigation fees due as of June 30, 2012. This note originally bore interest at 3% and was due December 31, 2012. Starting on January 1, 2013, this note bore interest at 10%. This note was in default as of December 31, 2013, but was repaid prior to June 30, 2014.	$	—	$	467,002

	June 30,		December 31,
	2014		2013
	(Unaudited)
Notes payable to 11 investors dated July 9, 2012 with maturity date on the earlier of a $2,000,000 capital raise by the Company or February 6, 2013 and bear interest at 8%. $225,000 of these notes were converted by nine investors to common stock in November 2013. The remaining two notes were in default as of December 31, 2013 and June 30, 2014.	50,000		50,000

Note payable to a high-yield fund. This note bore interest at 10% and was scheduled to mature on June 19, 2014. Upon the closing of a financing of at least $7,500,000 on or before the applicable maturity date, this note was to be converted into securities issued in such financing at a conversion price equal to 50% of the purchase price per share or unit of the securities. This note was secured by the assets of the Company. This note was converted into 259,236 shares of common stock on April 29, 2014.	—		500,000

Note payable to the Company’s Chairman of the Board dated August 9, 2013. Bore interest at 10% and was scheduled to mature on August 9, 2014. Contained mandatory conversion into security or securities totaling $10 million or more at the lesser of 50% of the selling price of such securities or the equivalent of $4.00 per share of common stock. This note was secured by the assets of the Company. This note was converted into 270,616 shares of common stock and a warrant to purchase 121,777 shares of common stock on June 6, 2014.	—		500,000

Note payable to the Company’s Chairman of the Board dated December 19, 2013. This note bore interest at 10% and was scheduled to mature on June 19, 2014. Upon the closing of a financing of at least $7,500,000 on or before the applicable maturity date, this note would be converted into securities issued in such financing at a conversion price equal to 50% of the purchase price per share or unit of the securities. This note was secured by the assets of the Company. This note was converted into 78,473 shares of common stock on June 6, 2014.	—		150,000

Note payable to three holders issued June 30, 2009 by Paloma and assumed by the Company on March 28, 2014, with repayment to occur by March 28, 2015. These notes bear interest at 18%. Accrued interest on these notes as of June 30, 2014 was $584,708.	665,000		—

	$	715,000	$	1,667,002

Interest expense on these notes was $136,584 and $194,878 for the three and six months ended June 30, 2014, respectively. Interest expense on these notes was $35,084 and $58,055 for the three and six months ended June 30, 2013, respectively.

Derivative Liabilities

6 Months Ended

Jun. 30, 2014

Derivative Liabilities.

Derivative Liabilities

15. Derivative Liabilities

On May 24, 2011, the Company entered into a securities purchase agreement with eight investors pursuant to which the Company sold 8,700 shares of a new series of convertible preferred stock designated as series E convertible preferred stock for $1,000 per share, or an aggregate of $8,700,000. In October 2012, the Company sold 1,000 shares of Series E for $1,000,000.

These Series E contained “full ratchet-down” anti-dilution protection that provided that if the Company issues securities for less than the then existing conversion price for the Series E or the exercise price of the warrants issued in connection with the issuance of the Series E, then the conversion price for Series E would be lowered to that lower price. Also, the exercise price for Series E warrants would be decreased to that lower price and the number of Series E warrants would be increased such that the product of the original exercise price times the original quantity would equal the lower exercise price times the higher quantity of Series E warrants.

Subsequent to the issuance of this Series E, the Company determined that the warrants for these financings included certain embedded derivative features as set forth in ASC Topic 815 and that this conversion feature of the Series E was not an embedded derivative because this feature was clearly and closely related to the host (Series E) as defined in ASC Topic 815. These derivative liabilities were initially recorded at their estimated fair value on the date of issuance and were subsequently adjusted each quarter to reflect the estimated fair value at the end of each period, with any decrease or increase in the estimated fair value of the derivative liability for each period being recorded as other income or expense. Since the value of the embedded derivative feature for the related warrants was higher than the value of both Series E transactions, there was no beneficial conversion feature recorded for either transaction, and the excess of the value of the embedded derivative feature over the value of the transaction was recorded in each period on the consolidated statement of operations as a separate line item.

The fair value of these derivative liabilities was calculated using the Black-Scholes pricing model based on the closing price of the common stock, the exercise price of the underlying instrument, the risk-free interest rate for the applicable remaining life of the underlying instrument (i.e., the U.S. treasury rate for that period) and the historical volatility of the Company’s common stock. These fair value results were extremely sensitive to all these input variables, particularly the closing price of the common stock and the volatility of the common stock. Accordingly, the fair value of these derivative liabilities was subject to significant changes. On May 6, 2013, the Series E and related warrants were converted into common stock and extinguished and the Company recorded a gain of $8,980,077 on the decrease in fair value for the derivative security and recorded a gain of $1,635,967 on extinguishment of the derivative liability.

The following assumptions were used to calculate the Black-Scholes values of this derivative liability as of the measurement date of May 6, 2013. The fair value of the underlying common stock was based on the sale of 13,916,665 shares of common stock at $3.00 by the Company during the three months ended June 30, 2013.

Estimated fair value of underlying common stock	$	3.00
Remaining life in years	3.15
Risk-free interest rate	0.38		%
Expected volatility	142		%
Dividend yield	—

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Stockholder's Equity

6 Months Ended

Jun. 30, 2014

Stockholder's Equity.

Stockholder's Equity

16. Stockholder’s Equity

Common Stock

The number of shares of common stock increased from 890,837 shares as of December 31, 2012 to 18,391,193 shares as of June 30, 2014:

	Number of
	Common Shares
Balance at December 31, 2012	890,837

Conversion of Series E to common stock	1,575,000
Shares issued for acquisition of Canterbury and Hygeia	1,150,116
Conversion of warrants to common stock	1,023,264
Conversion of debt to common stock	576,331
Issuance of shares for advisory agreements	243,250
Issuance of shares to third party for assumption of liabilities	200,000
Issuance of common stock for cash	142,501
Other	12,486
Balance at December 31, 2013	5,813,785

Shares issued in private placement	8,845,685
Shares issued for acquisition of Paloma	2,500,000
Issuance of shares upon conversion of convertible promissory notes	552,738
Shares issued creditors in settlement of debt	408,317
Shares issued for acquisition of VasculoMedics	220,000
Issuance of shares for assumption of liabilities	150,000
Shares surrendered by ASC	(99,332	)
Balance at June 30, 2014 (Unaudited)	18,391,193

During the six months ended June 30, 2014, the Company issued an aggregate of 12,676,740 shares of common stock, including 2,720,000 shares of common stock in connection with the acquisitions of Paloma and VasculoMedics (see note 3 to the consolidated financial statements), 552,738 shares of common stock to the Company’s Chairman of the Board upon conversion of convertible promissory notes (see note 13 to the consolidated financial statements), an aggregate of 408,317 shares of common stock to creditors in settlement of outstanding debt, 150,000 shares of common stock for assumption of liabilities and an aggregate of 8,845,685 shares of common stock in connection with a private placement, as described below. During the six months ended June 30, 2014, ASC surrendered 99,332 shares of common stock to the Company (see note 12 to the consolidated financial statements).

On April 29, 2014, the Company issued to various institutional and individual accredited investors an aggregate of 2,776,500 shares of common stock and four-year warrants to purchase an aggregate of 832,950 shares of common stock. The price of each unit, which consisted of one share of common stock plus a warrant to purchase 0.3 share of common stock was $4.00. The exercise price of the warrant is $4.80 per share. In addition, on April 29, 2014, the Company issued to its placement agent as part of its compensation warrants to purchase 277,650 shares of common stock, on substantially the same terms as the warrants issued to investors.

On May 6, 2014, the Company issued to various institutional and individual accredited investors an aggregate of 3,418,125 shares of common stock and four-year warrants to purchase an aggregate of 1,025,438 shares of common stock. The price of each unit, which consisted of one share of common stock plus a warrant to purchase 0.3 share of common stock was $4.00. The exercise price of the warrant is $4.80 per share. In addition, on May 6, 2014, the Company issued to its placement agent as part of its compensation warrants to purchase 341,813 shares of common stock, on substantially the same terms as the warrants issued to investors.

On May 21, 2014, the Company issued to various institutional and individual accredited investors an aggregate of 872,310 shares of common stock and four-year warrants to purchase an aggregate of 254,193 shares of common stock. The price of each unit, which consisted of one share of common stock plus a warrant to purchase 0.3 share of common stock was $4.00. The exercise price of the warrant is $4.80 per share. In addition, on May 21, 2014, the Company issued to its placement agent as part of its compensation warrants to purchase 87,231 shares of common stock, on substantially the same terms as the warrants issued to investors.

On June 13, 2014, the Company issued to various institutional and individual accredited investors an aggregate of 1,778,750 shares of common stock and four-year warrants to purchase an aggregate of 533,625 shares of common stock. The price of each unit, which consisted of one share of common stock plus a warrant to purchase 0.3 share of common stock was $4.00. The exercise price of the warrant is $4.80 per share. In addition, on June 13, 2014, the Company issued to its placement agent as part of its compensation warrants to purchase 177,875 shares of common stock, on substantially the same terms as the warrants issued to investors.

Subsequent to the end of the second quarter of 2014, on July 10, 2014, the Company issued to various institutional and individual accredited investors an aggregate of 50,000 shares of common stock and four-year warrants to purchase an aggregate of 15,000 shares of common stock. The price of each unit, which consisted of one share of common stock plus a warrant to purchase 0.3 share of common stock was $4.00. The exercise price of the warrant is $4.80 per share. In addition, on June 13, 2014, the Company issued to its placement agent as part of its compensation warrants to purchase 5,000 shares of common stock, on substantially the same terms as the warrants issued to investors.

Gross proceeds of the private placement to the Company were approximately $35.6 million and net proceeds approximately $31.3 million, after paying $3.6 million of placement agent fees, $0.2 million of estimated offering expenses and $0.5 million of certain accounts payable. The Company filed a registration statement on Form S-1 with the SEC on July 14, 2014 registering the offering and resale of 11,633,885 shares of our common stock, including the outstanding shares of common stock and shares of common stock issuable upon exercise of the warrants issued in the private placement. This registration statement was declared effective by the SEC on July 31, 2014.

On May 21, 2014, the Company issued 259,236 shares of common stock to a creditor upon conversion of a promissory note in the principal amount of $500,000 and an aggregate of 164,392 shares of common stock to four creditors pursuant to settlements of outstanding liabilities then owed to such creditors, including 59,250 shares to the Company’s former Chief Financial Officer. The Company recorded a loss on this settlement in the amount of $32,608.

On June 6, 2014, the Company issued to its Chairman of the Board 552,738 shares of common stock and warrants to purchase 355,699 shares of common stock at an exercise price of $2.00 per share upon conversion of four convertible promissory notes in the aggregate principal amount of $1,050,000 issued by the Company. The Company recorded a loss on this conversion in the amount $1,829,561.

On June 18, 2014, the Company issued to a law firm 53,457 shares of common stock and warrants to purchase 16,037 as part of a settlement of outstanding amounts due to the law firm.

Stock Options

During the six months ended June 30, 2014, the Company issued three-year options to purchase an aggregate of 100,856 shares of common stock to five members of the Company’s Board of Directors at an exercise price of $3.00 per share, which was the closing sale price of the common stock on the date of grant. These options vest in equal quarterly installments over three years.

On March 5, 2014, the Company issued three-year options to its Chief Executive Officer to purchase 500,000 shares of common stock at an exercise price of $2.50 per share, which was the closing sale price of the common stock on the date of grant. On May 27, 2014, the Company issued three-year options to its Chief Financial Officer to purchase 250,000 shares at an exercise price of $4.00 per share, which was the closing sale price of the common stock on the date of grant. These two employee options vest in equal quarterly installments over three years. On June 4, 2014, the Company granted additional options to purchase an aggregate of 364,777 shares of common stock at an exercise price of $4.20 per share, which was the closing sale price of the common stock on the date of grant, to other employees of the Company. These employee options also vest in equal quarterly installments over three years.

All of these options were valued using the Black-Scholes model and resulted in total stock-based compensation expense of $3,706,072, of which $141,315 and $291,200 was recognized in the three and six months ended June 30, 2014, respectively, and the remaining $3,414,872 will be recognized ratably over the next three years. The assumptions used to value the options granted during the first six months of 2014 was:

Estimated fair value of underlying common stock		$ 2.50 - $4.20
Remaining life		2.0 - 3.0
Risk-free interest rate		0.88% - 1.72%
Expected volatility		153% - 176%
Dividend yield		—

Warrants

During the six months ended June 30, 2014, the Company issued to investors in its private placement four-year warrants to purchase an aggregate of 2,653,706 shares of common stock at an exercise price of $4.80 per share.

In addition, during the six months ended June 30, 2014, the Company issued to the placement agent in its private placement as partial consideration for its services in connection with the private placement four-year warrants to purchase an aggregate of 884,569 shares of common stock at an exercise price of $4.80 per share.

In addition, during the six months ended June 30, 2014, four-year warrants to purchase an aggregate of 355,699 shares of common stock at an exercise price of $2.00 per share to the Company’s Chairman of the Board in addition to an aggregate of 552,738 shares of common stock upon conversion of four convertible promissory notes of the Company in the aggregate principal amount of $1,050,000. See note 10 to the consolidated financial statements.

In addition, during the six months ended June 30, 2014, the Company issued to a law firm four-year warrants to purchase 16,037 shares of common stock as part of a settlement of outstanding amounts due to the law firm.

During the six months ended June 30, 2013, the Company issued to three financial advisors warrants to purchase an aggregate of 173,917 shares of common stock at an exercise price of $3.00 per share. These warrants have a five-year term and were immediately vested and exercisable as of the date of grant, resulting in Black-Scholes warrant expense of $462,618 during the six months ended June 30, 2013. The Black-Scholes expense for these warrants was calculated using the following assumptions. The fair value of the underlying common stock was based on the sale by the Company of 139,167 shares of common stock at a purchase price of $3.00 per share during the three months ended June 30, 2013.

Estimated fair value of underlying common stock	$	3.00
Remaining life	5.0
Risk-free interest rate	0.35		%
Expected volatility	141		%
Dividend yield	—

During the six months ended June 30, 2013, the Series E warrants, along with related warrants with similar terms, were exchanged for 1,023,264 shares of common stock and these warrants were extinguished, thereby removing the “overhang” created by the full-ratchet provisions of these warrants that would have increased the number of warrants outstanding and reduced the exercise price of these warrants to the price of any subsequent financing done at a lower price. This exchange of common stock for the Series E warrants resulted in a fair value charge of $3,069,792 during the six months ended June 30, 2013. These 1,023,264 shares of common stock were valued at $3.00 per share, which was the price at which the Company sold 139,167 shares during the three months ended June 30, 2013, resulting in the fair value charge of $3,069,792.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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-Subparagraph (SX 210.4-08.(d),(e))
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-Paragraph 1
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies,

Commitments and Contingencies

17. Commitments and Contingencies

Office Space Rental

On August 1, 2011, the Company entered into a lease for 7,000 square feet of office space in Los Angeles, California expiring November 30, 2014. Initially, the lease had a fixed monthly rent of $19,326 and was subject to annual increases of 3%. The Company was not required to pay a fixed monthly rent for months two through five. Prior to this, the Company was leasing the same office space on a month-to-month basis. This property was vacated in April 2012 and the Company recorded a liability of $892,000 to cover unpaid rent and the present value of rents due for the remainder of the lease term. As of April 2013, this space was released, but the terms and conditions of the new lease were unknown, so the Company did not adjust the accrued liability as of June 30, 2013. As of June 30, 2014, the accrued liability for this lease was $892,000.

On November 1, 2011, the Company entered into a lease for 3,000 square feet of office space in Santa Barbara, California for use by the Company’s operating units. This lease expires on October 31, 2014 with two additional three-year renewal terms available. The initial rent plus common area charges were $7,157 per month. This property was vacated in June 2012 and the Company recorded a liability of $229,000 to cover unpaid rent and the present value of rents due for the remainder of the lease term. As of June 2013, this space was released, but the terms and conditions of the new lease were unknown, so the Company did not adjust the accrued liability as of June 30, 2013. As of June 30, 2014, the accrued liability for this lease was $229,000.

From May 2012 to May 2013, the Company was in a month-to-month lease for office space in Los Angeles, California. Rent for this facility was $2,300 per month.

The Company currently operates out of a “virtual office.” However, in light of the Company’s growth plans, it intends to seek laboratory and office space in the future. The Company believes that suitable space will be available when and as needed.

Contractual Obligations

Set forth below is information concerning the Company’s known contractual obligations as of June 30, 2014 that are fixed and determinable by year starting with the twelve months ending June 30, 2015.

	Total		2015		2016		2017		Beyond 2017
Notes payable	$	915,000	$	915,000	$	—	$	—	$	—
Rent obligations	1,121,495		677,738		339,958		103,799		—
Accrued board fees	210,625		210,625		—		—		—
Consulting agreement	150,000		150,000		—		—		—
Employee contracts	3,808,014		835,000		1,538,014		1,435,000		—
Accrued interest	592,609		592,609		—		—		—
Total	$	6,797,743	$	3,380,972	$	1,877,972	$	1,538,799	$	—

Employment and Severance Agreements

During the six months ended June 30, 2014, the Company entered into the following employment, severance and other agreements with its executive officers:

On March 5, 2014, the Company entered into an executive employment agreement with Stephen M. Simes pursuant to which Mr. Simes was appointed the Company’s Chief Executive Officer. The agreement is for an initial term of three years, subject to extension. Under the agreement, Mr. Simes is to receive an annual base salary of $425,000 with annual review and base salary increases as approved by the Company’s Board of Directors. Mr. Simes is eligible to earn an annual bonus based upon achievement of performance objectives set by the Board of Directors after consultation with Mr. Simes, with a target bonus opportunity of 60% of his annual base salary. In connection with his hiring, Mr. Simes received an initial stock option to purchase 500,000 shares of common stock at an exercise price of $2.50 per share, which option has a ten-year term and will vest and become exercisable in equal quarterly installments over the initial three-year term of his employment.

In connection with the closing of the acquisitions of Paloma and VasculoMedics, the Company entered into an executive employment agreement on March 31, 2014 with David Sherris, Ph.D. pursuant to which Dr. Sherris was appointed the Company’s Chief Scientific Officer and President of the Company’s Paloma/VasculoMedics divisions. The agreement is for an initial period of three years, subject to extension. Under the agreement, Dr. Sherris is to receive an annual base salary of $345,000 and is eligible for a bonus of up to 50% of his base salary upon meeting certain milestones established by the Board of Directors upon consultation with Dr. Sherris.

On May 27, 2014, the Company entered into an executive employment agreement with Phillip B. Donenberg pursuant to which Mr. Donenberg was appointed Chief Financial Officer of the Company. The agreement is for an initial term of three years, subject to extension. Under the agreement, Mr. Donenberg is to receive an annual base salary of $335,000 with annual review and base salary increases as approved by the Board of Directors. Mr. Donenberg is eligible to earn an annual bonus based upon achievement of performance objectives set by the Board of Directors after consultation with Mr. Donenberg, with a target bonus opportunity of 45% of his annual base salary. In connection with his hiring, Mr. Donenberg received an initial stock option to purchase 250,000 shares at an exercise price of $4.00 per share, which option has a ten-year term and will vest quarterly over the initial three-year term of his employment.

On June 9, 2014, the Company entered into a severance agreement and general release with John Moynahan, the Company’s former Chief Financial Officer pursuant to which the Company and Mr. Moynahan agreed on the amount of back wages, unpaid expenses and a severance payment. On May 28, 2014, the Company entered into an independent contractor agreement with Mr. Moynahan pursuant to which the Company agreed to pay Mr. Monahan a consulting fee of $175 per hour. This agreement may be terminated by either party upon three days written notice. Effective as of April 29, 2014, the Company entered into a settlement agreement and release with its former Chief Financial Officer pursuant to which the parties agreed upon an amount of compensation and other monies owed to the former executive from the inception of his work through December 31, 2013. Under the agreement, the Company paid the former executive $37,500 in cash and issued him 59,250 shares of the Company’s common stock.

On June 9, 2014, the Company entered into an executive employment agreement with Tim Boris pursuant to which Mr. Boris was appointed General Counsel and Vice President of Legal Affairs. The employment agreement is for an initial term of one year, subject to extension. Under the agreement, Mr. Boris is to receive an annual base salary of $235,000 and is eligible to earn a target annual bonus of up to 30% of his annual base salary.

Litigation

In January 2013, the Company signed a term sheet with ASC to have ASC acquire certain portions of the Company’s liabilities to Creditors for an obligation of the Company to issue shares of common stock to ASC, which shares of common stock would then be sold by ASC and the proceeds distributed to the Creditors. ASC entered into agreements in July 2013 with the Creditors to acquire $1,865,386 in liabilities of the Company and filed a complaint on July 29, 2013 with the Second Judicial Circuit Court in Leon County, Florida seeking a judgment against the Company for such amount. A court order based on this complaint was issued on October 7, 2013, resulting in the transfer of $1,865,386 in liabilities of the Company to ASC. The Company issued an initial tranche of 200,000 shares of common stock to ASC in November 2013 and a subsequent tranche of 150,000 shares of common stock in February 2014. On June 6, 2014, the Company entered into an amendment to settlement agreement and stipulation with ASC pursuant to which the Company agreed to deliver to ASC or before June 10, 2014, $1,266,401 in cash for distribution by ASC to the Creditors and an additional $300,000 in cash as a settlement fee for ASC and ASC agreed to surrender to the Company 99,332 shares of common stock. The Company paid these amounts and ASC surrendered the shares, resulting in no liability as of June 30, 2014 related to this matter.

In July 2013, the Company received notice that a complaint for property damage had been filed by the Truck Insurance Exchange against the Company for $393,592 related to water damage incurred by a printing company on the ground floor of the Company’s former office space in Los Angeles. This damage is alleged to have occurred in connection with a water leak in the Company’s former office in February 2013. The Company has a dispute with its insurance carrier at that time regarding coverage for this matter and the Company intends to pursue this dispute to ensure that it had proper insurance coverage at that time. As of June 30, 2014, the Company had accrued $393,592 in connection with this matter.

From time to time, the Company is subject to various pending or threatened legal actions and proceedings, including those that arise in the ordinary course of its business. Such actions and proceedings are subject to many uncertainties and to outcomes that are not predictable with assurance and that may not be known for extended periods of time. The Company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, where the Company has assessed that a loss is probable and an amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. In the opinion of management, as of June 30, 2014, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect the Company’s consolidated results of operations, financial position or cash flows.

Segment Information

6 Months Ended

Jun. 30, 2014

Segment Information.

Segment Information

18. Segment Information

In 2013, ProElite was considered to be an operating segment pursuant to ASC Topic 280 “Segment Reporting” since each was budgeted separately and tracked separately to provide the chief operating decision maker information to assess and manage ProElite, Stratus White and Hygeia/Canterbury. The Company suspended operations of ProElite effective June 30, 2013. Following the repositioning of the Company as a specialty biopharmaceutical company, the Board of Directors voted to discontinue operations of ProElite effective March 31, 2014. The following segment information is presented to provide a comparison for the three and six months ended June 30, 2014 and 2013.

A summary of results by segments is as follows:

	Three Months Ended June 30, 2014 ($000)										Three Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	610			—		—		610			—					7			7
Segment profit	(610		)	—		—		(610		)	—		—			(7		)	(7		)
Operating expenses	3,897			—		—		3,897			—		—			8,090			8,090
Other (income)/expenses	(52		)	—		—		(52		)	—					(1,356		)	(1,356		)
Impact of derivative securities	—			—		—		—			—		—			(9,217		)	(9,217		)
Net income (loss) from continuing ops.	(4,455		)	—		—		(4,455		)	—					2,476			2,476
Loss from discontinued ops.	—			—		—		—			—		(129		)	—			(129		)
Preferred dividends	—			—		—		—			—		—			47			47
Net income (loss) attributable to common shareholders	$	(4,455	)	$	—	$	—	$	(4,455	)	$	—	$	(129	)	$	2,429		$	2,300

	Six Months Ended June 30, 2014 ($000)										Six Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	1,089			—		—		1,089			—					17			17
Segment profit	(1,089		)	—		—		(1,089		)	—		—			(17		)	(17		)
Operating expenses	4,790			—		—		4,790			—		—			10,139			10,139
Other (income)/expenses	(44		)	—		—		(44		)	—					107			107
Impact of derivative securities	—			—		—		—			—		—			(10,390		)	(10,390		)
Net income (loss) from continuing ops.	(5,835		)	—		—		(5,835		)	—					(127		)	(127		)
Loss from discontinued ops.	—			—		—		—			—		(256		)	—			(256		)
Preferred dividends	—			—		—		—			—		—			172			172
Net loss attributable to common shareholders	$	(5,835	)	$	—	$	—	$	(5,835	)	$	—	$	(256	)	$	(45	)	$	(301	)

Assets at end of period	$	54,529		$	—	$	—	$	54,529		$	—	$	26		$	172		$	197
Liabilities at end of period	$	9,170		$	62	$	—	$	9,232		$	—	$	1,517		$	7,250		$	8,767

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations.

Discontinued Operations

19. Discontinued Operations

The Company suspended operations of ProElite effective June 30, 2013. Following the repositioning of the Company as a specialty biopharmaceutical company, the Board of Directors voted to discontinue operations of ProElite effective March 31, 2014. The assets and liabilities of ProElite are consolidated into the consolidated balance sheets as of June 30, 2014 and December 31, 2013 and are as follows:

	June 30, 2014			December 31, 2013
	(Unaudited)
Total assets	$	—		$	—

Accounts payable	62,000			167,244
Other accrued liabilities	—			16,250
Equity, net	(62,000		)	(183,494		)
Total liabilities and accumulated deficit	$	—		$	—

The income statement details for ProElite that are summarized in the discontinued operations line in the consolidated statements of operations are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013

Revenues	$	—	$	—		$	—	$	71,667
Cost of revenues	—		—			—		—
Gross profit	—		—			—		71,667

Operating expenses	—		110,744			—		284,111
Interest expense	—		26,165			—		58,055
Net loss attributed to non-controlling interests	—		(7,752		)	—		(14,431		)
Total expenses	—		129,157			—		327,735

Net loss	$	—	$	(129,157	)	$	—	$	(256,068	)

The consolidated statements of operations for the periods ended June 30, 2014 and 2013 do not consolidate the results for ProElite but present them on a net basis in a discontinued operations line. The consolidated statements of operations details for ProElite that are summarized in the discontinued operations line in the statements of cash flows are as follows:

	Six Months Ended June 30,
	2014		2013
Net loss	$	—	$	(256,068	)
Working capital and other adjustments	—		39,543
Cash used by operating activities	—		(216,525		)

Investing activities	—		—
Financing activities	—		—
Net impact on cash flows	$	—	$	(216,525	)

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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+ Details

Basis of Presentation and Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2014

Basis of Presentation and Significant Accounting Policies.

Basis of Presentation

Basis of Presentation

Basic and Diluted Earnings Per Share

Basic and Diluted Earnings Per Share (“EPS”)

Discontinued Operations

Discontinued Operations

Use of Estimates

Use of Estimates

Derivative liabilities

Derivative Liabilities

Cash Equivalents

Cash Equivalents

We consider all highly liquid investments purchased with maturities of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Property and Equipment

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. We record depreciation using the straight-line method over the following estimated useful lives:

Equipment		3 – 5 years
Furniture and fixtures		5 years
Software		3 years
Leasehold improvements		Lesser of lease term or life of improvements

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Income Taxes

Income Taxes

As of June 30, 2014 and December 31, 2013, the Company had net operating loss carryforwards as follows:

	June 30, 2014		December 31, 2013
Combined NOL Carryforwards:
Federal	$	53,563,707	$	47,728,300
California	$	50,318,257	$	44,482,850

Stock-Based Compensation

Stock-Based Compensation

Reclassification

Reclassification

Certain prior period amounts were reclassified to conform to the manner of presentation in the current period. These reclassifications had no effect on the net (loss) or the stockholders’ equity.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Step 1: Identify the contract(s) with a customer.

Step 2: Identify the performance obligations in the contract.

Step 3: Determine the transaction price.

Step 4: Allocate the transaction price to the performance obligations in the contract.

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2014

Intangible Assets, Net

Schedule of intangible assets

	June 30, 2014							December 31, 2013
								Gross
	Gross Carrying		Accumulative			Intangible		Carrying		Accumulative			Intangible
	Amount		Amortization			Assets, net		Amount		Amortization			Assets, net

Definite lived intangible assets	$	14,228,628	$	(595,323	)	$	13,633,305	$	7,779,000	$	(87,318	)	$	7,691,682
In-process research and development costs (IPR&D)	159,492		—				159,492	—		—			—

Total intangible assets	$	14,388,120	$	(595,323	)	$	13,792,797	$	7,779,000	$	(87,318	)	$	7,691,682

Schedule of estimated amortization expense

	Amortization
For the Twelve Months Ending	Expense
June 30, 2015	$	1,284,744
June 30, 2016	1,284,744
June 30, 2017	1,284,744
June 30, 2018	1,284,744
June 30, 2019	1,284,744
Thereafter	7,209,585

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2014

Notes Payable.

Note payable

	June 30,		December 31,
	2014		2013
	(Unaudited)
Note payable to the Company’s outside law firm and represented corporate and litigation fees due as of June 30, 2012. This note originally bore interest at 3% and was due December 31, 2012. Starting on January 1, 2013, this note bore interest at 10%. This note was in default as of December 31, 2013, but was repaid prior to June 30, 2014.	$	—	$	467,002

	June 30,		December 31,
	2014		2013
	(Unaudited)
Notes payable to 11 investors dated July 9, 2012 with maturity date on the earlier of a $2,000,000 capital raise by the Company or February 6, 2013 and bear interest at 8%. $225,000 of these notes were converted by nine investors to common stock in November 2013. The remaining two notes were in default as of December 31, 2013 and June 30, 2014.	50,000		50,000

Note payable to a high-yield fund. This note bore interest at 10% and was scheduled to mature on June 19, 2014. Upon the closing of a financing of at least $7,500,000 on or before the applicable maturity date, this note was to be converted into securities issued in such financing at a conversion price equal to 50% of the purchase price per share or unit of the securities. This note was secured by the assets of the Company. This note was converted into 259,236 shares of common stock on April 29, 2014.	—		500,000

Note payable to the Company’s Chairman of the Board dated August 9, 2013. Bore interest at 10% and was scheduled to mature on August 9, 2014. Contained mandatory conversion into security or securities totaling $10 million or more at the lesser of 50% of the selling price of such securities or the equivalent of $4.00 per share of common stock. This note was secured by the assets of the Company. This note was converted into 270,616 shares of common stock and a warrant to purchase 121,777 shares of common stock on June 6, 2014.	—		500,000

Note payable to the Company’s Chairman of the Board dated December 19, 2013. This note bore interest at 10% and was scheduled to mature on June 19, 2014. Upon the closing of a financing of at least $7,500,000 on or before the applicable maturity date, this note would be converted into securities issued in such financing at a conversion price equal to 50% of the purchase price per share or unit of the securities. This note was secured by the assets of the Company. This note was converted into 78,473 shares of common stock on June 6, 2014.	—		150,000

Note payable to three holders issued June 30, 2009 by Paloma and assumed by the Company on March 28, 2014, with repayment to occur by March 28, 2015. These notes bear interest at 18%. Accrued interest on these notes as of June 30, 2014 was $584,708.	665,000		—

	$	715,000	$	1,667,002

Stockholder's Equity (Tables)

6 Months Ended

Jun. 30, 2014

Stockholder's Equity.

Common stock outstanding

	Number of
	Common Shares
Balance at December 31, 2012	890,837

Conversion of Series E to common stock	1,575,000
Shares issued for acquisition of Canterbury and Hygeia	1,150,116
Conversion of warrants to common stock	1,023,264
Conversion of debt to common stock	576,331
Issuance of shares for advisory agreements	243,250
Issuance of shares to third party for assumption of liabilities	200,000
Issuance of common stock for cash	142,501
Other	12,486
Balance at December 31, 2013	5,813,785

Shares issued in private placement	8,845,685
Shares issued for acquisition of Paloma	2,500,000
Issuance of shares upon conversion of convertible promissory notes	552,738
Shares issued creditors in settlement of debt	408,317
Shares issued for acquisition of VasculoMedics	220,000
Issuance of shares for assumption of liabilities	150,000
Shares surrendered by ASC	(99,332	)
Balance at June 30, 2014 (Unaudited)	18,391,193

Stock Options- Assumptions

The assumptions used to value the options granted during the first six months of 2014 was:

Estimated fair value of underlying common stock		$ 2.50 - $4.20
Remaining life		2.0 - 3.0
Risk-free interest rate		0.88% - 1.72%
Expected volatility		153% - 176%
Dividend yield		—

Warrants -Assumptions

Estimated fair value of underlying common stock	$	3.00
Remaining life	5.0
Risk-free interest rate	0.35		%
Expected volatility	141		%
Dividend yield	—

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5

+ Details

Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Information.

Segment Information

	Three Months Ended June 30, 2014 ($000)										Three Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	610			—		—		610			—					7			7
Segment profit	(610		)	—		—		(610		)	—		—			(7		)	(7		)
Operating expenses	3,897			—		—		3,897			—		—			8,090			8,090
Other (income)/expenses	(52		)	—		—		(52		)	—					(1,356		)	(1,356		)
Impact of derivative securities	—			—		—		—			—		—			(9,217		)	(9,217		)
Net income (loss) from continuing ops.	(4,455		)	—		—		(4,455		)	—					2,476			2,476
Loss from discontinued ops.	—			—		—		—			—		(129		)	—			(129		)
Preferred dividends	—			—		—		—			—		—			47			47
Net income (loss) attributable to common shareholders	$	(4,455	)	$	—	$	—	$	(4,455	)	$	—	$	(129	)	$	2,429		$	2,300

	Six Months Ended June 30, 2014 ($000)										Six Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	1,089			—		—		1,089			—					17			17
Segment profit	(1,089		)	—		—		(1,089		)	—		—			(17		)	(17		)
Operating expenses	4,790			—		—		4,790			—		—			10,139			10,139
Other (income)/expenses	(44		)	—		—		(44		)	—					107			107
Impact of derivative securities	—			—		—		—			—		—			(10,390		)	(10,390		)
Net income (loss) from continuing ops.	(5,835		)	—		—		(5,835		)	—					(127		)	(127		)
Loss from discontinued ops.	—			—		—		—			—		(256		)	—			(256		)
Preferred dividends	—			—		—		—			—		—			172			172
Net loss attributable to common shareholders	$	(5,835	)	$	—	$	—	$	(5,835	)	$	—	$	(256	)	$	(45	)	$	(301	)

Assets at end of period	$	54,529		$	—	$	—	$	54,529		$	—	$	26		$	172		$	197
Liabilities at end of period	$	9,170		$	62	$	—	$	9,232		$	—	$	1,517		$	7,250		$	8,767

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2014

Discontinued Operations.

Consolidated Statements of Financial Position

The assets and liabilities of ProElite are consolidated into the consolidated balance sheets as of June 30, 2014 and December 31, 2013 and are as follows:

	June 30, 2014			December 31, 2013
	(Unaudited)
Total assets	$	—		$	—

Accounts payable	62,000			167,244
Other accrued liabilities	—			16,250
Equity, net	(62,000		)	(183,494		)
Total liabilities and accumulated deficit	$	—		$	—

The income statement details for ProElite that are summarized in the discontinued operations line in the consolidated statements of operations are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013

Revenues	$	—	$	—		$	—	$	71,667
Cost of revenues	—		—			—		—
Gross profit	—		—			—		71,667

Operating expenses	—		110,744			—		284,111
Interest expense	—		26,165			—		58,055
Net loss attributed to non-controlling interests	—		(7,752		)	—		(14,431		)
Total expenses	—		129,157			—		327,735

Net loss	$	—	$	(129,157	)	$	—	$	(256,068	)

	Six Months Ended June 30,
	2014		2013
Net loss	$	—	$	(256,068	)
Working capital and other adjustments	—		39,543
Cash used by operating activities	—		(216,525		)

Investing activities	—		—
Financing activities	—		—
Net impact on cash flows	$	—	$	(216,525	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Acquisitions (Details)				1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
Acquisitions (Details)	Mar. 28, 2014 USD ($) shares	Nov. 18, 2013 item	Sep. 30, 2013 USD ($) shares	Mar. 31, 2014 item	Nov. 30, 2013 item	Jun. 30, 2014 USD ($) $ / shares	Jun. 30, 2013 USD ($) $ / shares	Jun. 30, 2014 USD ($) $ / shares	Jun. 30, 2013 USD ($) $ / shares	Dec. 31, 2013 USD ($) shares
Number of acquisitions \| item				2	2
Shares issued for acquisition of Canterbury and Hygeia \| shares										1,150,116
Goodwill						$ 11,241,987		$ 11,241,987		$ 7,642,825
Deferred tax liability						5,100,770		5,100,770		$ 3,000,576
Consolidated net loss						(4,455,232)	$ 2,347,490	(5,835,407)	$ (129,290)
Pro Forma Financial Information
Net (loss) income						$ (4,455,232)	$ 1,676,602	$ (6,073,817)	$ (1,322,096)
Basic and diluted (loss) income per share \| $ / shares						$ (0.44)	$ 0.25	$ (1.45)	$ (0.23)
Canterbury and Hygeia
Number of acquisitions \| item		2
Shares issued for acquisition of Canterbury and Hygeia \| shares			1,150,116
Purchase price			$ 12,421,249
Intangible assets			7,779,000
Expenses associated with acquisition						$ 286,494		$ 470,782
Canterbury
Goodwill			7,642,825
Purchase price			4,642,249
Deferred tax liability			3,000,576
Canterbury \| Recorded
Intangible assets			144,356
Canterbury \| Adjustment
Intangible assets			$ 7,634,644
Paloma and VasculoMedics
Intangible assets	$ 6,609,120
Goodwill	3,599,162
Purchase price	6,800,000
Expenses associated with acquisition						$ 505,787		$ 505,787
Derivative securities and assumed promissory notes	$ 1,151,725
Paloma
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares	2,500,000
Derivative securities and assumed promissory notes	$ 1,130,500
VasculoMedics
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares	220,000

Intangible Assets, Net (Details) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Intangible assets
Definite lived intangible assets, gross	$ 14,388,120	$ 7,779,000
Accumulative amortization	(595,323)	(87,318)
Definite lived intangible assets, net	13,792,797	7,691,682
Estimated amortization expense
For the Twelve Months Ending June 30, 2015	1,284,744
For the Twelve Months Ending June 30, 2016	1,284,744
For the Twelve Months Ending June 30, 2017	1,284,744
For the Twelve Months Ending June 30, 2018	1,284,744
For the Twelve Months Ending June 30, 2019	1,284,744
Thereafter	7,209,585
Definite lived intangible assets
Intangible assets
Definite lived intangible assets, gross	14,228,628	7,779,000
Accumulative amortization	(595,323)	(87,318)
Definite lived intangible assets, net	13,633,305	$ 7,691,682
In-process research and development costs (IPR&D)
Intangible assets
Definite lived intangible assets, net	$ 159,492

Notes Payable (Details)					1 Months Ended	6 Months Ended	12 Months Ended
Notes Payable (Details)	Jun. 06, 2014 USD ($) shares	May 21, 2014 USD ($)	Apr. 29, 2014 shares	Jul. 09, 2012 USD ($) item	Nov. 30, 2013 USD ($) item	Jun. 30, 2014 USD ($) item $ / shares shares	Dec. 31, 2013 USD ($) item shares	Dec. 31, 2012
Notes Payable..
Notes Payable						$ 715,000	$ 1,667,002
Debt Conversion, Original Debt, Amount	$ 1,050,000	$ 500,000
Conversion of debt \| shares						552,738	576,331
Warrant
Notes Payable..
Debt Conversion, Original Debt, Amount						$ 1,050,000
Note payable to the Company's outside law firm
Notes Payable..
Notes Payable							$ 467,002
Interest rate of debt (as a percent)						10.00%		3.00%
Notes payable to 11 investors
Notes Payable..
Notes Payable						$ 50,000	$ 50,000
Interest rate of debt (as a percent)				8.00%
Number of investors \| item				11	9
Amount of increase in capital for maturity of debt				$ 2,000,000
Debt Conversion, Original Debt, Amount					$ 225,000
Number of investors in default \| item						2	2
Note payable to a high-yield fund
Notes Payable..
Notes Payable							$ 500,000
Interest rate of debt (as a percent)						10.00%
Conversion price as a percentage of purchase price of securities into which debt instrument is converted						50.00%
Conversion of debt \| shares			259,236
Note payable to a high-yield fund \| Minimum
Notes Payable..
Amount of financing for conversion of debt instrument						$ 7,500,000
Note payable to the Company's Chairman of the Board dated August 9, 2013
Notes Payable..
Notes Payable							500,000
Interest rate of debt (as a percent)						10.00%
Conversion of debt \| shares	270,616
Value of securities in which debt is converted						$ 10,000,000
Conversion price as a percentage of selling price of securities into which debt instrument is converted						50.00%
Share price equivalent for conversion of debt \| $ / shares						$ 4
Note payable to the Company's Chairman of the Board dated August 9, 2013 \| Warrant
Notes Payable..
Conversion of debt \| shares	121,777
Note payable to the Company's Chairman of the Board dated December 19, 2013
Notes Payable..
Notes Payable							150,000
Interest rate of debt (as a percent)						10.00%
Conversion price as a percentage of purchase price of securities into which debt instrument is converted						50.00%
Conversion of debt \| shares	78,473
Note payable to the Company's Chairman of the Board dated December 19, 2013 \| Minimum
Notes Payable..
Amount of financing for conversion of debt instrument						$ 7,500,000
Note payable to three holders
Notes Payable..
Notes Payable						$ 665,000
Interest rate of debt (as a percent)						18.00%
Number of investors \| item						3
Accrued interest on notes						$ 584,708

Stockholder's Equity (Details)								3 Months Ended	6 Months Ended	12 Months Ended
Stockholder's Equity (Details)	Jul. 14, 2014 shares	Jun. 18, 2014 shares	Jun. 13, 2014 $ / shares shares	Jun. 06, 2014 USD ($) item $ / shares shares	May 21, 2014 USD ($) item $ / shares shares	May 06, 2014 $ / shares shares	Apr. 29, 2014 $ / shares shares	Jul. 10, 2014 USD ($) $ / shares shares	Jun. 30, 2014 shares	Dec. 31, 2013 shares
Stockholder's Equity.
Outstanding shares, Beginning									5,813,785	890,837
Conversion of Series E Preferred to common stock										1,575,000
Shares issued for acquisition of Canterbury and Hygeia										1,150,116
Conversion of warrants to common stock										1,023,264
Conversion of debt to common stock									552,738	576,331
Issuance of shares for advisory agreements										243,250
Issuance of shares for assumption of liabilities									150,000	200,000
Issuance of common stock for cash										142,501
Other.										12,486
Shares issued in private placement									8,845,685
Shares issued for acquisition of Paloma									2,500,000
Shares issued to creditors in settlement of debt									408,317
Shares issued for acquisition of VasculoMedics									220,000
Shares surrendered by ASC									(99,332)
Outstanding shares, Ending									18,391,193	5,813,785
Shares issued									12,676,740
Shares issued for acquisition of Paloma and VasculoMedics									2,720,000
Shares issued to creditors in settlement of outstanding debt					164,392				408,317
Aggregate number of shares of common stock issued in private placement									8,845,685
Shares issued to various institutional and individual accredited investors			1,778,750		872,310	3,418,125	2,776,500	50,000
Term of warrants issued to various institutional and individual accredited investors			4 years		4 years	4 years	4 years	4 years
Number of shares of common stock to be purchased by various institutional and individual accredited investors			533,625		254,193	1,025,438	832,950	15,000
Number of shares of common stock consisted in unit			1		1	1	1	1
Number of warrants consisted in unit			0.3		0.3	0.3	0.3	0.3
Strike price (in dollars per share) \| $ / shares			$ 4.00		$ 4.00	$ 4.00	$ 4.00	$ 4.00
Exercise price of warrants issued to various institutional and individual accredited investors \| $ / shares			$ 4.80		$ 4.80	$ 4.80	$ 4.80	$ 4.80
Number of shares of common stock to be purchased by placement agent			177,875		87,231	341,813	277,650	5,000
Proceeds from private placement \| $								$ 35,600,000
Net proceeds from private placement after payment fees \| $								31,300,000
Placement agent fees paid \| $								3,600,000
Estimated offering expenses paid \| $								200,000
Certain accounts payable paid \| $								$ 500,000
Number of shares of common stock for which registration statement is filed for offering and resale of common stock	11,633,885
Shares issued to creditors pursuant to conversion of outstanding debt					259,236
Principal amount of promissory note converted \| $				$ 1,050,000	$ 500,000
Number of creditors to whom shares are issued in settlement of outstanding debt \| item					4
Shares issued to former Chief Financial Officer in settlement of outstanding debt					59,250
Loss on settlement of debt \| $				$ 1,829,561	$ 32,608
Shares issued to chairman in settlement of outstanding debt				552,738
Number of shares of common stock issued to Chairman in settlement of outstanding debt				355,699
Exercise price of warrants issued to chairman in settlement of outstanding debt \| $ / shares				$ 2.00
Number of convertible promissory notes issued \| item				4
Shares issued to law firm pursuant to conversion of outstanding debt		53,457
Number of shares of common stock to be purchased by law firm		16,037

Stockholder's Equity (Details 1)					3 Months Ended	6 Months Ended
Stockholder's Equity (Details 1)	Jun. 04, 2014 $ / shares shares	Jun. 03, 2014	May 27, 2014 $ / shares shares	Mar. 05, 2014 $ / shares shares	Jun. 30, 2014 USD ($) $ / shares shares	Jun. 30, 2014 USD ($) item $ / shares shares	Jul. 10, 2014 $ / shares	Jun. 13, 2014 $ / shares	May 21, 2014 $ / shares	May 06, 2014 $ / shares	Apr. 29, 2014 $ / shares
Strike price (in dollars per share)							$ 4.00	$ 4.00	$ 4.00	$ 4.00	$ 4.00
Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount \| $						$ 3,706,072
Allocated Share-based Compensation Expense \| $					$ 141,315	291,200
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options \| $					$ 3,414,872	$ 3,414,872
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						3 years
Estimated fair value of underlying common stock, Minimum						$ 2.50
Estimated fair value of underlying common stock, Maximum						$ 4.20
Risk-free interest rate, Minimum						0.88%
Risk-free interest rate, Maximum						1.72%
Expected volatility, Minimum						153.00%
Expected volatility, Maximum						176.00%
Stock Options \| Minimum
Remaining life						2 years
Stock Options \| Maximum
Remaining life						3 years
Stock Options \| Five members of Board of Directors
Term of options						3 years
Number of share granted \| shares					100,856	100,856
Number of members of board of directors to whom options are granted \| item						5
Strike price (in dollars per share)					$ 3.00	$ 3.00
Vesting period						3 years
Stock Options \| Chief Executive Officer
Term of options				3 years
Number of share granted \| shares				500,000
Strike price (in dollars per share)				$ 2.50
Stock Options \| Chief Financial Officer
Term of options			3 years
Number of share granted \| shares			250,000
Strike price (in dollars per share)			$ 4.00
Vesting period			3 years
Stock Options \| Employees other than Chief Executive Officer and Chief Financial Officer
Number of share granted \| shares	364,777
Exercise price of shares granted (in dollars per share)	$ 4.20
Vesting period		3 years

Stockholder's Equity (Details 2)							3 Months Ended			6 Months Ended		12 Months Ended
Stockholder's Equity (Details 2)	Jun. 18, 2014 shares	Jun. 13, 2014 $ / shares shares	Jun. 06, 2014 USD ($) $ / shares shares	May 21, 2014 USD ($) $ / shares shares	May 06, 2014 $ / shares shares	Apr. 29, 2014 $ / shares shares	Jul. 10, 2014 $ / shares shares	Jun. 30, 2014 USD ($)	Jun. 30, 2013 USD ($) $ / shares shares	Jun. 30, 2014 USD ($) $ / shares shares	Jun. 30, 2013 USD ($) item $ / shares shares	Dec. 31, 2013 shares
Number of shares of common stock to be purchased by various institutional and individual accredited investors		533,625		254,193	1,025,438	832,950	15,000
Exercise price of warrants issued to various institutional and individual accredited investors \| $ / shares		$ 4.80		$ 4.80	$ 4.80	$ 4.80	$ 4.80
Number of shares of common stock to be purchased by placement agent		177,875		87,231	341,813	277,650	5,000
Number of shares of common stock issued to Chairman in settlement of outstanding debt			355,699
Exercise price of warrants issued to chairman in settlement of outstanding debt \| $ / shares			$ 2.00
Shares issued to chairman in settlement of outstanding debt			552,738
Principal amount of promissory note converted \| $			$ 1,050,000	$ 500,000
Number of shares of common stock to be purchased by law firm	16,037
Purchase price of common stock \| $ / shares		$ 4.00		$ 4.00	$ 4.00	$ 4.00	$ 4.00
Conversion of warrants to common stock												1,023,264
Fair value of common stock exchanged for warrants \| $								$ 2,706,105	$ 3,069,792		$ 3,069,792
Warrant
Vesting period										4 years
Number of shares of common stock to be purchased by various institutional and individual accredited investors										2,653,706
Exercise price of warrants issued to various institutional and individual accredited investors \| $ / shares										$ 4.80
Number of shares of common stock to be purchased by placement agent										884,569
Exercise price of warrants issued to private placement agent \| $ / shares										$ 4.80
Term of warrants issued to Chairman in settlement of outstanding debt										4 years
Number of shares of common stock issued to Chairman in settlement of outstanding debt										355,699
Exercise price of warrants issued to chairman in settlement of outstanding debt \| $ / shares										$ 2.00
Shares issued to chairman in settlement of outstanding debt										552,738
Principal amount of promissory note converted \| $										$ 1,050,000
Number of shares of common stock to be purchased by law firm										16,037
Number of financial advisors to whom warrants are issued \| item											3
Number of shares of common stock to be purchased									173,917		173,917
Purchase price of common stock \| $ / shares									$ 3.00		$ 3.00
Term of warrants											5 years
Warrant expense											462,618
Number of shares of common stock sold									139,167
Estimated fair value of underlying common stock \| $ / shares										$ 3.00
Remaining life										5 years
Risk-free interest rate										0.35%
Expected volatility										141.00%
Dividend yield
Series E warrants
Purchase price of common stock \| $ / shares									$ 3.00		$ 3.00
Number of shares of common stock sold									139,167
Conversion of warrants to common stock									1,023,264		1,023,264
Fair value of common stock exchanged for warrants \| $									$ 3,069,792		$ 3,069,792

Commitments and contingencies (Details 2) - USD ($)						1 Months Ended			6 Months Ended
Commitments and contingencies (Details 2) - USD ($)	Jun. 09, 2014	Jun. 06, 2014	May 27, 2014	Apr. 29, 2014	Mar. 05, 2014	Mar. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Jun. 30, 2014	Jul. 10, 2014	Jun. 13, 2014	May 21, 2014	May 06, 2014	Dec. 31, 2013	Jul. 31, 2013
Purchase price of common stock				$ 4.00						$ 4.00	$ 4.00	$ 4.00	$ 4.00
Value of liabilities to be acquired by financial firm as per agreement with creditors															$ 1,865,386
Number of shares issued to the Financial Firm							150,000	200,000
Common stock, shares surrendered									99,332
Obligation to issue stock for transfer of liabilities														$ 1,854,743
Estimated damage liability that may not be covered by insurance									$ 393,592					$ 393,592
ASC
Cash delivered pursuant to amendment to settlement agreement and stipulation		$ 1,266,401
Cash settlement fees paid		$ 300,000
Common stock, shares surrendered		99,332
Obligation to issue stock for transfer of liabilities									$ 0
Stephen M. Simes
Salaries, Wages and Officers' Compensation					$ 425,000
Term of employment agreement					3 years
Options granted (in shares)					500,000
Vesting period					3 years
Target annual bonus as percentage of base salary					60.00%
Exercise price of shares granted (in dollars per share)					$ 2.50
Term of options					10 years
Dr. Sherris
Salaries, Wages and Officers' Compensation						$ 345,000
Period of employment as per employment agreement						3 years
Target annual bonus as percentage of base salary						50.00%
Mr. Donenberg
Salaries, Wages and Officers' Compensation			$ 335,000
Term of employment agreement			3 years
Options granted (in shares)			250,000
Vesting period			3 years
Target annual bonus as percentage of base salary			45.00%
Exercise price of shares granted (in dollars per share)			$ 4.00
Term of options			10 years
Timothy Boris
Salaries, Wages and Officers' Compensation	$ 235,000
Term of employment agreement	1 year
Target annual bonus as percentage of base salary	30.00%
Mr. John Moynahan
Consulting fees per hour			$ 175
Period of written notice before termination of employment agreement for terminating employment agreement			3 days
Amount paid in cash to former executive				$ 37,500
Number of shares issued of common stock to former executive				59,250

Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Segment Information
Depreciation and amortization	$ 610,515	$ 7,481	$ 1,088,619	$ 16,168
Segment profit	(610,000)	(7,000)	(1,089,000)	(17,000)
Operating expenses	3,897,000	8,090,000	4,790,000	10,139,000
Other (income) expenses	(52,352)	(10,573,737)	(43,697)	(10,316,480)
Impact of derivative securities		(9,217,000)		(10,390,000)
Net income (loss) from continuing ops.	(4,455,232)	2,476,647	(5,835,407)	126,778
Loss from discontinued ops.		(129,157)		(256,068)
Preferred dividends		47,250		171,625
Net loss attributable to common shareholders	(4,455,232)	2,300,240	(5,835,407)	(300,915)
Assets at end of period	54,529,269	197,000	54,529,269	197,000	$ 18,344,052
Liabilities at end of period	9,232,010	8,767,000	9,232,010	8,767,000	$ 11,878,894
Bio Pharma
Segment Information
Depreciation and amortization	610,000		1,089,000
Segment profit	(610,000)		(1,089,000)
Operating expenses	3,897,000		4,790,000
Other (income) expenses	(52,000)		(44,000)
Net income (loss) from continuing ops.	(4,455,000)		(5,835,000)
Net loss attributable to common shareholders	(4,455,000)		(5,835,000)
Assets at end of period	54,529,000		54,529,000
Liabilities at end of period	9,170,000		9,170,000
ProElite
Segment Information
Loss from discontinued ops.		(129,000)		(256,000)
Net loss attributable to common shareholders		(129,000)		(256,000)
Assets at end of period		26,000		26,000
Liabilities at end of period	$ 62,000	1,517,000	$ 62,000	1,517,000
Other
Segment Information
Depreciation and amortization		7,000		17,000
Segment profit		(7,000)		(17,000)
Operating expenses		8,090,000		10,139,000
Other (income) expenses		(1,356,000)		107,000
Impact of derivative securities		(9,217,000)		(10,390,000)
Net income (loss) from continuing ops.		2,476,000		(127,000)
Preferred dividends		47,000		172,000
Net loss attributable to common shareholders		2,429,000		(45,000)
Assets at end of period		172,000		172,000
Liabilities at end of period		$ 7,250,000		$ 7,250,000

Discontinued Operations (Details 1) - USD ($)	3 Months Ended		6 Months Ended
Discontinued Operations (Details 1) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Discontinued Operations.
Revenues				$ 71,667
Cost of revenues
Gross profit				71,667
Operating expenses		110,744		284,111
Interest expense		26,165		58,055
Net loss attributed to non-controlling interests		(7,752)		(14,431)
Total expenses		129,157		327,735
Net loss		$ (129,157)		$ (256,068)

Prepaid Expenses, Deposits and Other Assets	6 Months Ended
Prepaid Expenses, Deposits and Other Assets	Jun. 30, 2014
Prepaid Expenses, Deposits and Other Assets
Prepaid Expenses, Deposits and Other Assets	4. Prepaid Expenses, Deposits and Other Assets In July 2013, the Company entered into an agreement with Maxim Group LLC (“Maxim”) to provide general financial advisory and investment banking services to the Company for three years on a non-exclusive basis. Under this agreement, the Company issued Maxim common stock equal to 4.99% of the Company’s then outstanding common stock, or 210,250 shares of common stock. These shares were valued at $15.00 per share, which was the closing price of the common stock on the date of the agreement, for a total expense of $3,153,750. This expense is being recognized ratably over the life of the three-year term of the agreement at $262,813 per quarter. As of June 30, 2014, $2,298,629 remained in prepaid expenses, deposits and other assets on the consolidated balance sheets.

Goodwill	6 Months Ended
Goodwill	Jun. 30, 2014
Goodwill.
Goodwill	7. Goodwill Goodwill was $11,241,987 at June 30, 2014 and $7,642,825 at December 31, 2013, with the increase arising from the acquisitions of Paloma and VasculoMedics on March 28, 2014. In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” the Company’s goodwill is considered to have indefinite lives, and therefore, was not amortized, but rather is subject to annual impairment tests. As of June 30, 2014, Company management determined that the fair value of its businesses for accounting purposes was equal to its market capitalization of approximately $74,900,000, and that the total for goodwill and intangible assets of $25,034,784 was 33% of this market capitalization on the consolidated balance sheet as of June 30, 2014. Based on this determination, Company management concluded that no impairment had occurred as of June 30, 2014 on a Company-wide basis. However, it is possible that impairment may have occurred on a reporting-unit basis and the Company intends to test impairment annually on a reporting-unit basis beginning with the year ending December 31, 2014. As of December 31, 2013, Company management determined that the fair value of its businesses for accounting purposes was equal to its market capitalization of approximately $17,400,000, which was 113% of the $15,334,507 goodwill and intangible assets on the consolidated balance sheet as of December 31, 2013. Based on this determination, Company management concluded that no impairment had occurred as of December 31, 2013.

Deferred Salary and Other Compensation	6 Months Ended
Deferred Salary and Other Compensation	Jun. 30, 2014
Deferred Salary and Other Compensation
Deferred Salary and Other Compensation	8. Deferred Salary and Other Compensation From February 2013 and into the second quarter of 2014, the Company was unable to pay employees and non-employee directors on a regular basis, resulting in unpaid salaries, fees and other compensation of $571,328 as of December 31, 2013, net of advances. The Company has since paid all unpaid salaries, fees and other compensation, net of advances as of June 30, 2014.

Due to Related Party	6 Months Ended
Due to Related Party	Jun. 30, 2014
Due to Related Party
Due to Related Party	10. Due to Related Party As of June 30, 2014, the Company owed its former Chief Executive Officer $150,000, which amount has subsequently been paid.

Due to Officer	6 Months Ended
Due to Officer	Jun. 30, 2014
Due to Officer
Due to Officer.	11. Due to Officer In connection with an employment agreement between the Company and the Company’s former Chief Financial Officer, the Company owed this officer $156,358 in unpaid amounts consisting of consulting fees prior to employment, expenses, salary increases and signing bonus as of December 31, 2013. All amounts had been paid as of June 30, 2014.

Consolidated Balance Sheets (USD $) (Parenthetical) - $ / shares	Jun. 30, 2014	Dec. 31, 2013
Shareholders' deficit
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	18,391,193	5,813,785
Common stock, shares outstanding	18,391,193	5,813,785

Note Payable - Related Party	6 Months Ended
Note Payable - Related Party	Jun. 30, 2014
Note Payable - Related Party
Note Payable - Related Party	13. Note Payable — Related Party The Company has a note payable to a director of the Company dated March 5, 2013 with maturity on the earlier of September 5, 2013 or receipt by the Company of $200,000 in net proceeds from a private placement of Company securities. This note does not bear interest and is not secured. This note was in default as of December 31, 2013 and June 30, 2014. On June 3, 2014, four convertible promissory notes in the aggregate principal amount of $1,050,000 issued by the Company to the Company’s Chairman of the Board were converted pursuant to the terms thereof into an aggregate of 552,738 shares of common stock and warrants to purchase an aggregate of 355,699 shares of common stock at an exercise price of $2.00 per share. The warrants are immediately exercisable and have a four-year term.

Issuance of Common Stock for Transfer of Liabilities	6 Months Ended
Issuance of Common Stock for Transfer of Liabilities	Jun. 30, 2014
Issuance of Common Stock for Transfer of Liabilities
Issuance of Common Stock for Transfer of Liabilities	14. Issuance of Common Stock for Transfer of Liabilities In January 2013, the Company signed a term sheet with ASC Recap LLC (“ASC”) to have that firm acquire certain portions of the Company’s liabilities to creditors, employees and former employees (“Creditors”) in exchange for an obligation of the Company to issue shares of common stock to ASC, which shares of common stock would then be sold by ASC and the proceeds distributed to the Creditors. Under the terms of the term sheet, the common stock would be issued in tranches such that ASC would not own more than 9.99% of the outstanding shares of common stock at any time and would be priced at 80% of average closing bids during such period of time in which the dollar trading volume of the common stock is three times the amount of liabilities. ASC entered into agreements in July 2013 with the Creditors to acquire $1,865,386 in liabilities of the Company and filed a complaint on July 29, 2013 with the Second Judicial Circuit Court in Leon County, Florida seeking a judgment against the Company for such amount. A court order based on this complaint was issued on October 7, 2013, resulting in the transfer of $1,865,386 in liabilities of the Company to ASC. The Company issued an initial tranche of 200,000 shares of common stock to ASC in November 2013 and a subsequent tranche of 150,000 shares of common stock in February 2014. On June 6, 2014, the Company entered into an amendment to settlement agreement and stipulation with ASC pursuant to which the Company agreed to deliver to ASC before June 10, 2014, $1,266,401 in cash for distribution by ASC to the Creditors and an additional $300,000 in cash as a settlement fee for ASC and ASC agreed to surrender to the Company 99,332 shares of common stock. The Company paid these amounts and ASC surrendered the shares, resulting in a liability of zero as of June 30, 2014 related to this matter.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2014
Subsequent Events
Subsequent Events	20. Subsequent Events On July 10, 2014, the Company closed the fifth and final round of its private placement in the aggregate sum of $200,000 resulting in $179,500 of net proceeds after payment of commissions and fees of $20,500. During the second quarter of 2014 and ending on July 10, 2014, the Company completed this private placement pursuant to which it raised approximately $35.6 million in gross proceeds and approximately $31.3 million in net proceeds, after paying placement agent fees, estimated offering expenses, and certain accounts payable. In the private placement, the Company issued an aggregate of 8,895,685 shares of its common stock and warrants to purchase an aggregate of 2,668,706 shares of common stock. The purchasers of common stock received warrants to purchase 0.3 shares of common stock for each share of common stock that such investors purchased in the private placement. The purchase price of each common stock/warrant unit was $4.00. Each warrant is exercisable into a share of common stock at an initial exercise price of $4.80 per share.

Business and Corporate History (Details Narrative)						1 Months Ended			12 Months Ended
Business and Corporate History (Details Narrative)	Mar. 28, 2014 USD ($) shares	Mar. 07, 2014	Nov. 18, 2013 item	Sep. 30, 2013 shares	Mar. 14, 2008 shares	Mar. 31, 2014 item	Nov. 30, 2013 item	Jun. 30, 2011 USD ($)	Dec. 31, 2013 shares
Number of acquisitions \| item						2	2
Shares issued for acquisition of Canterbury and Hygeia									1,150,116
Reverse stock split		100
PSEI
Number of shares of common stock issued for all issued and outstanding shares of acquirer					49,500,000
ProElite
Percentage of voting rights on as-converted basis equivalent								95.00%
Cash paid at closing as part of consideration \| $								$ 3,000,000
Canterbury and Hygeia
Number of acquisitions \| item			2
Shares issued for acquisition of Canterbury and Hygeia				1,150,116
Paloma
Number of shares of common stock issued for all issued and outstanding shares of acquirer	2,500,000
Derivative securities and assumed promissory notes \| $	$ 1,130,500
VasculoMedics
Number of shares of common stock issued for all issued and outstanding shares of acquirer	220,000

Basis of Presentation and Significant Accounting Policies (Details) - Series E Preferred Stock		1 Months Ended
	May 24, 2011 USD ($) item $ / shares shares	Oct. 31, 2012 USD ($) shares
Derivative Liabilities
Number of investors with whom the Purchase Agreement is entered into \| item	8
Number of shares sold pursuant to the Purchase Agreement \| shares	8,700	1,000
Purchase price of shares sold pursuant to the Purchase Agreement (in dollars per share) \| $ / shares	$ 1,000
Purchase price of shares sold pursuant to the Purchase Agreement \| $	$ 8,700,000	$ 1,000,000

Basis of Presentation and Significant Accounting Policies (Details 1)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Equipment \| Minimum
Property and Equipment
Estimated useful Life	3 years	3 years
Equipment \| Maximum
Property and Equipment
Estimated useful Life	5 years	5 years
Furniture And Fixtures.
Property and Equipment
Estimated useful Life	5 years	5 years
Software
Property and Equipment
Estimated useful Life	3 years	3 years
Leasehold Improvements
Property and Equipment
Estimated useful Life, description	Lesser of lease term or life of improvements	Lesser of lease term or life of improvements

Basis of Presentation and Significant Accounting Policies (Details 2) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Combined NOL Carryforwards:
Federal	$ 53,563,707	$ 47,728,300
California	$ 50,318,257	$ 44,482,850

Property and Equipment, Net (Details) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Property and equipment
Property and Equipment Gross	$ 58,123	$ 224,078
Less accumulated depreciation	(1,860)	(212,816)
PROPERTY AND EQUIPMENT, NET.	56,263	11,262
Computing equipment and office machines
Property and equipment
Property and Equipment Gross	124	145,245
Furniture and fixtures
Property and equipment
Property and Equipment Gross	57,375	$ 78,833
Lab equipment
Property and equipment
Property and Equipment Gross	$ 624

Goodwill (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
Goodwill (Details Narrative) - USD ($)	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Goodwill.
Goodwill		$ 11,241,987		$ 7,642,825
Market capitalization		$ 74,900,000		$ 17,400,000
Market capitalization as a percentage of goodwill and intangible assets		33.00%		113.00%
Total Goodwill.		$ 25,034,784		$ 15,334,507
Impairment of goodwill and intangible assets	$ 1,935,621	$ 0	$ 1,935,621	$ 0

Deferred Salary and Other Compensation (Details Narrative)	Dec. 31, 2013 USD ($)
Deferred Salary and Other Compensation
Unpaid Salaries Fees and Other Compensation	$ 571,328

Other Accrued Expenses and Liabilities (Details) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Accounts Payable and Accrued Liabilities
Payroll related	$ 183,021	$ 479,087
Estimated property damage liability that may not be covered by insurance	393,592	393,592
Professional fees	287,265	110,000
Board fees	210,625	657,934
Other	25,492	57,101
Total Accounts Payable and Accrued Liabilities	$ 1,099,995	$ 1,697,714

Due to Related Party (Details) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Due to Related Party
Amount owed to former Chief Executive Officer	$ 150,000	$ 156,358

Due to Officer (Details) - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Due to Officer
Total Payable to Officer and Former Officer	$ 150,000	$ 156,358

Notes Payable (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Notes Payable (Details Narrative) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Notes Payable.
Interest expense.	$ 136,584	$ 35,084	$ 194,878	$ 58,055

Note Payable - Related Party (Details)				6 Months Ended
Note Payable - Related Party (Details)	Jun. 06, 2014 USD ($) item $ / shares shares	Jun. 03, 2014 USD ($) item $ / shares shares	May 21, 2014 USD ($)	Jun. 30, 2014 USD ($) $ / shares shares
Note Payable - related party
Number of convertible promissory notes issued \| item	4
Conversion of debt	355,699
Exercise price of warrants (in dollars per share) \| $ / shares	$ 2.00
Shares issued to chairman in settlement of outstanding debt	552,738
Principal amount of notes issued \| $	$ 1,050,000		$ 500,000
Warrant
Note Payable - related party
Term of warrants issued to Chairman in settlement of outstanding debt				4 years
Conversion of debt				355,699
Exercise price of warrants (in dollars per share) \| $ / shares				$ 2.00
Shares issued to chairman in settlement of outstanding debt				552,738
Principal amount of notes issued \| $				$ 1,050,000
Notes payable to a director
Note Payable - related party
Net proceeds from private placement of securities for maturity of debt \| $				$ 200,000
Notes Payable, Other Payables
Note Payable - related party
Number of convertible promissory notes issued \| item		4
Shares issued to chairman in settlement of outstanding debt		552,738
Principal amount of notes issued \| $		$ 1,050,000
Notes Payable, Other Payables \| Warrant
Note Payable - related party
Term of warrants issued to Chairman in settlement of outstanding debt		4 years
Conversion of debt		355,699
Exercise price of warrants (in dollars per share) \| $ / shares		$ 2.00

Issuance of Common Stock for Transfer of Liabilities (Details)		1 Months Ended		6 Months Ended
	Jun. 06, 2014 USD ($) shares	Feb. 28, 2014 shares	Nov. 30, 2013 shares	Jun. 30, 2014 USD ($) item shares	Dec. 31, 2013 USD ($)	Jul. 31, 2013 USD ($)
Issuance of Common Stock for Transfer of Liabilities
Common stock, shares surrendered \| shares				99,332
Obligation to issue stock for transfer of liabilities					$ 1,854,743
Value of liabilities to be acquired by financial firm as per agreement with creditors						$ 1,865,386
Number of shares issued to the Financial Firm \| shares		150,000	200,000
ASC
Issuance of Common Stock for Transfer of Liabilities
Minimum percentage of ownership				9.99%
Selling price of common stock as a percentage of average closing bids				80.00%
Multiplier of dollar trading volume of stock to arrive at closing bid price \| item				3
Cash delivered pursuant to amendment to settlement agreement and stipulation	$ 1,266,401
Cash settlement fees paid	$ 300,000
Common stock, shares surrendered \| shares	99,332
Obligation to issue stock for transfer of liabilities				$ 0

Derivative Liabilities (Details 1)			1 Months Ended	3 Months Ended	6 Months Ended
Derivative Liabilities (Details 1)	May 06, 2013 USD ($)	May 24, 2011 USD ($) item $ / shares shares	Oct. 31, 2012 USD ($) shares	Jun. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)
Derivative Liabilities
Gain on decrease in fair value of derivative liability				$ 9,216,927	$ 8,980,077
Gain on extinguishment of derivative liability				$ 1,409,530	$ 1,409,530
Series E Preferred Stock
Derivative Liabilities
Number of investors with whom the Purchase Agreement is entered into \| item		8
Number of shares sold pursuant to the Purchase Agreement \| shares		8,700	1,000
Purchase price of shares sold pursuant to the Purchase Agreement (in dollars per share) \| $ / shares		$ 1,000
Purchase price of shares sold pursuant to the Purchase Agreement		$ 8,700,000	$ 1,000,000
Gain on decrease in fair value of derivative liability	$ 8,980,077
Gain on extinguishment of derivative liability	$ 1,635,967

Derivative Liabilities (Details 2) - Derivative Liabilities	6 Months Ended
	Jun. 30, 2014 $ / shares shares
Number of shares of common stock sold \| shares	13,916,665
Estimated fair value of underlying common stock \| $ / shares	$ 3.00
Remaining life	3 years 1 month 24 days
Risk-free interest rate	0.38%
Expected volatility	142.00%
Dividend yield

Commitments and contingencies (Details)			13 Months Ended
Commitments and contingencies (Details)	Nov. 01, 2011 USD ($) ft² item	Aug. 01, 2011 USD ($) ft²	May 31, 2013 USD ($)	Jun. 30, 2014 USD ($)	Dec. 31, 2013 USD ($)	Jun. 30, 2012 USD ($)	Apr. 30, 2012 USD ($)
Office Space Rental
Rent liability for facilities no longer occupied				$ 1,121,495	$ 1,121,495
Santa Barbara \| Operating units
Office Space Rental
Office area under lease \| ft²	3,000
Unpaid rent						$ 229,000
Rent liability for facilities no longer occupied				229,000
Monthly rent	$ 7,157
Number of extension option \| item	2
Renewal term	3 years
Los Angeles
Office Space Rental
Office area under lease \| ft²		7,000
Unpaid rent							$ 892,000
Rent liability for facilities no longer occupied				$ 892,000
Monthly rent		$ 19,326	$ 2,300
Annual increase in rent (as a percent)		3.00%
Los Angeles \| Minimum
Office Space Rental
Period for which fixed monthly rent is not required to be paid		2 months
Los Angeles \| Maximum
Office Space Rental
Period for which fixed monthly rent is not required to be paid		5 years

Commitments and contingencies (Details 1)	Jun. 30, 2014 USD ($)
Contractual Obligation
Total	$ 6,797,743
2015	3,380,972
2016	1,877,972
2017	1,538,799
Beyond 2017
Notes payable.
Contractual Obligation
Total	915,000
2015	915,000
2016
2017
Beyond 2017
Rent obligations
Contractual Obligation
Total	1,121,495
2015	677,738
2016	339,958
2017	103,799
Beyond 2017
Accrued board fees
Contractual Obligation
Total	210,625
2015	210,625
2016
2017
Beyond 2017
Consulting agreement
Contractual Obligation
Total	150,000
2015	150,000
2016
2017
Beyond 2017
Employee contracts
Contractual Obligation
Total	3,808,014
2015	835,000
2016	1,538,014
2017	1,435,000
Beyond 2017
Accrued interest
Contractual Obligation
Total	592,609
2015	592,609
2016
2017
Beyond 2017

Discontinued Operations (Details 2) - USD ($)	3 Months Ended	6 Months Ended
Discontinued Operations (Details 2) - USD ($)	Jun. 30, 2013	Jun. 30, 2013
Discontinued Operations.
Net loss	$ (129,157)	$ (256,068)
Working capital and other adjustments		39,543
Cash used by operating activities		(216,525)
Net impact on cash flows		$ (216,525)

Subsequent Events (Details) - USD ($)		3 Months Ended	6 Months Ended
Subsequent Events (Details) - USD ($)	Jul. 10, 2014	Jul. 10, 2014	Jun. 30, 2014	Jun. 13, 2014	May 21, 2014	May 06, 2014	Apr. 29, 2014
Subsequent events
Proceeds from private placement		$ 35,600,000
Net proceeds from private placement after payment commission and fees		$ 31,300,000
Number of shares of common stock issued in private placement			8,845,685
Purchase price of each common stock/warrant (in dollars per unit)	$ 4.00	$ 4.00		$ 4.00	$ 4.00	$ 4.00	$ 4.00
Subsequent Events
Subsequent events
Proceeds from private placement	$ 200,000	$ 35,600,000
Net proceeds from private placement after payment commission and fees	179,500	$ 31,300,000
Commission and fees paid	$ 20,500
Number of shares of common stock issued in private placement		8,895,685
Number of warrants issued in private placement		2,668,706
Number of shares of common stock to be purchased	0.3	0.3
Purchase price of each common stock/warrant (in dollars per unit)	$ 4.00	$ 4.00
Initial exercise price of warrants (in dollars per share)	4.80	4.80