Quarterly report pursuant to Section 13 or 15(d)

NON CONTROLLING INTEREST

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NON CONTROLLING INTEREST
 6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 16 - NON CONTROLLING INTEREST

On July 28, 2016, the Company formed BioCorRx Pharmaceuticals, Inc., a Nevada Corporation, for the purpose of developing certain business lines. In connection with the formation, the, the newly formed sub issued 24.2% ownership to current or former officers of the Company with the Company retaining 75.8%. From inception through December 31, 2017, there were no significant transactions. There were certain licensing rights with a carrying value of $250,000 and no significant liabilities in BioCorRx Pharmaceuticals, Inc. In 2018, BioCorRx Pharmaceuticals, Inc. began operations.

 

A reconciliation of the BioCorRx Pharmaceuticals, Inc. non-controlling loss attributable to the Company:

 

Net loss attributable to the non-controlling interest for the three months ended June 30, 2018:

 

Net loss   $ (184 )
Average Non-controlling interest percentage of profit/losses     24.2 %
Net loss attributable to the non-controlling interest   $ (45 )

 

Net loss attributable to the non-controlling interest for the six months ended June 30, 2018:

 

Net loss   $ (184 )
Average Non-controlling interest percentage of profit/losses     24.2 %
Net loss attributable to the non-controlling interest   $ (45 )

 

The following table summarizes the changes in non-controlling interest for the six months ended June 30, 2018:

 

Balance, December 31, 2017   $ -  
Net loss attributable to the non-controlling interest     (45 )
Balance, June 30, 2018   $ (45 )