Quarterly report pursuant to Section 13 or 15(d)

Liability in connection with acquisition

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Liability in connection with acquisition
9 Months Ended
Sep. 30, 2017
Payables and Accruals [Abstract]  
Liability in connection with acquisition

9. Liability in connection with acquisition

 

Liability in connection with acquisition represent non-interest bearing amount due by the Company’s subsidiaries toward the purchase price as per a purchase agreement between Newgioco Srl and the Company’s subsidiaries. The Company’s shareholder and VP of Regulatory Affairs, Beniamino Gianfelici, owns 50% shares of Newgioco Srl.