Quarterly report pursuant to Section 13 or 15(d)

NON CONTROLLING INTEREST

v3.20.2
NON CONTROLLING INTEREST
9 Months Ended
Sep. 30, 2020
NON CONTROLLING INTEREST  
Note 19 - 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 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 September 30, 2020:

 

Net loss

 

$ (72,360 )

Average Non-controlling interest percentage of profit/losses

 

 

24.2 %

Net loss attributable to the non-controlling interest

 

$ (17,511 )

 

Net loss attributable to the non-controlling interest for the nine months ended September 30, 2020:

 

Net loss

 

$ (132,971 )

Average Non-controlling interest percentage of profit/losses

 

 

24.2 %

Net loss attributable to the non-controlling interest

 

$ (32,179 )

 

The following table summarizes the changes in non-controlling interest for the nine months ended September 30, 2020:

 

Balance, December 31, 2019

 

$ (81,178 )

Net loss attributable to the non-controlling interest

 

 

(32,179 )

Balance, September 30, 2020

 

$ (113,357 )

 

Net loss attributable to the non-controlling interest for the three months ended September 30, 2019:

 

Net loss

 

$ (12,085 )

Average Non-controlling interest percentage of profit/losses

 

 

24.2 %

Net loss attributable to the non-controlling interest

 

$ (2,925 )

 

Net loss attributable to the non-controlling interest for the nine months ended September 30, 2019:

 

Net loss

 

$ (18,098 )

Average Non-controlling interest percentage of profit/losses

 

 

24.2 %

Net loss attributable to the non-controlling interest

 

$ (4,380 )

 

The following table summarizes the changes in non-controlling interest for the nine months ended September 30, 2019:

 

Balance, December 31, 2018

 

$ (72,487 )

Net loss attributable to the non-controlling interest

 

 

(4,380 )

Balance, September 30, 2019

 

$ (76,867 )