InventaBioTech 10-Q 20 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Entity Registrant Name	Westmountain Company
Entity Central Index Key	1,421,603
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,517,402
Entity Public Float		$ 300,878
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	May. 13, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 478,542	$ 579,971
Investments in marketable securities	108,466	117,022
Accounts receivable, related parties	38,000	6,000
Accounts receivable	24,150	16,435
Income tax receivable	$ 26,852	$ 19,873
Note receivable, related parties
Prepaid expenses	$ 11,225	$ 2,308
Deferred tax asset	100,579	106,208
Total current assets	787,814	847,817
Property and equipment, net of accumulated depreciation of $9,987 and $9,987, respectively	5,313	5,827
Investments in nonmarketable securities, at cost	61,645	31,645
Total assets	854,772	885,289
Current Liabilities:
Accounts payable and accrued liabilities	49,276	44,133
Accounts payable and accrued liabilities, related parties	$ 5,751	$ 5,751
Deferred tax liability
Income tax payable
Total current liabilities	$ 55,027	$ 49,884
Total liabilities	$ 55,027	$ 49,884
Shareholders' Equity:
Preferred stock, $0.10 par value; 1,000,000 shares authorized, none issued and outstanding
Common stock, $.001 par value; 50,000,000 shares authorized, 9,517,402 shares issued and outstanding	$ 9,518	$ 9,518
Additional paid-in capital	927,355	927,355
Accumulated earnings (deficit)	(106,468)	(82,534)
Other comprehensive income, net	(30,660)	(18,934)
Total shareholders' equity	799,745	835,405
Total liabilities and shareholders' equity	$ 854,772	$ 885,289

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	May. 13, 2016	Dec. 31, 2015
Assets
Accumulated depreciation	$ 9,987	$ 9,987
Shareholders' Equity:
Preferred stock, par value per share	$ 0.10	$ 0.10
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	9,517,402	9,517,402
Common stock, shares outstanding	9,517,402	9,517,402

Consolidated Statements of Oper

Consolidated Statements of Operations and Other Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Advisory/consulting fees, related parties	$ 38,000	$ 53,600
Advisory/consulting fees	12,225
Total revenue	50,225	$ 53,600
Operating expenses:
Selling, general and administrative expenses	78,679	84,381
Total operating expenses	78,679	84,381
Loss from operations	$ (28,454)	(30,781)
Other (expense) income
Interest income		1,886
Loss on impairment of available for sale marketable securities		(193,634)
Total other (expense) income		(191,748)
Net income (loss) before income taxes	$ (28,454)	(222,529)
Income tax benefit	(4,520)	(82,460)
Net (loss) income	(23,934)	(140,069)
Other comprehensive (loss) income
Unrealized (loss) income on investments in marketable equity securities, net of tax	(11,726)	(274,362)
Comprehensive (loss) income	$ (35,660)	$ (414,431)
Basic net (loss) income per share	$ 0	$ 0
Diluted net (loss) income per share	$ 0	$ 0.01
Basic weighted average common shares outstanding	9,517,402	9,517,402
Diluted weighted average common shares outstanding	9,517,402	9,517,402

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ (23,934)	$ (140,069)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	514	514
Deferred income tax (benefit) expense	$ (4,520)	(72,031)
Loss on impairment of available for sale marketable securities		193,634
Changes in operating assets and operating liabilities:
Prepaid expenses and other current assets	$ (1,938)	3,224
Accounts receivable	(7,715)	(15,600)
Accounts receivable, related parties	(32,000)	23,125
Accounts payable and accrued liabilities	5,143	(5,274)
Income tax receivable	(6,979)	(73,079)
Net cash provided by operating activities	$ (71,429)	(85,556)
Cash flows from investing activities:
Loan to related party		$ (25,000)
Purchases of investments	$ (30,000)
Net cash (used in) investing activities	(30,000)	$ (25,000)
Net change in cash and cash equivalents	(101,429)	(110,556)
Cash and cash equivalents, beginning of period	579,971	445,411
Cash and cash equivalents, end of period	$ 478,542	334,855
Supplemental disclosure of cash flow information:
Cash paid during the period for Income tax		$ 62,650
Cash paid during the period for Interest
Non cash investing and financing activities:
Unrealized (income) loss on investments in marketable securities	$ (11,726)	$ 274,362

Nature of Organization and Summ

Nature of Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Organization and Summary of Significant Accounting Policies	(1) Nature of Organization and Summary of Significant Accounting Policies Nature of Organization and Basis of Presentation WestMountain Company ("we", "our" or the "Company"), formerly known as WestMountain Asset Management, Inc. was incorporated in the state of Colorado on October 18, 2007 and on this date approved its business plan and commenced operations. As a consultant to both public and private companies, we promote public visibility and market acceptance for our clients. We use a number of techniques to achieve these objectives for our clients, including developing public recognition of their business plans and strategic goals, managing investor relations, and engaging in website development and media production. We also utilize various social media outlets and services to deliver our client's message. We are paid fees for our services by our clients under written consulting agreements. Unaudited Financial Information The accompanying financial information as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 is unaudited. In the opinion of management, all normal and recurring adjustments which are necessary to provide a fair presentation of the Company's financial position at March 31, 2016 and its operating results for the three months ended March 31, 2016 and 2015 have been made. Certain information and footnote data necessary for a fair presentation of financial position and results of operations in conformity with accounting principles generally accepted in the United States of America have been condensed or omitted. It is therefore suggested that these financial statements be read in conjunction with the summary of significant accounting policies and notes to financial statements included in the Company's annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the year ended December 31, 2015. The results of operations for the three months ended March 31, 2016 is not necessarily an indication of operating results to be expected for the year. Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Commitments and Contingencies Based on currently available information, the Company believes that it is remote that future costs related to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our financial statements. As the Company learns new facts concerning contingencies, the Company reassesses its position both with respect to accrued liabilities and other potential exposures. In the case of all known contingencies, the Company accrues a liability when the loss is probable and the amount is reasonably estimable. The Company does not reduce these liabilities for potential insurance or third-party recoveries. Allowance for Loss on Note Receivable, Related Party The allowance for loss on note receivable is the amount that, in the opinion of management, is necessary to absorb probable losses inherent in the note receivable. The allowance is determined based upon numerous considerations including local economic conditions, a review of the value of collateral supporting the note receivable and the collectability of the note receivable. As a result of the test of adequacy, required adjustments to the allowance for loan losses are made periodically by changes to the provision for loss on note receivable. As of March 31, 2016 and 2015, the allowance for loss on note receivable was $60,937 and $0, respectively. A write-off of note receivable, related party was recognized in December 2015 resulting in a loss of $60,937. Related Parties A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. The Company had three unsecured promissory notes from WestMountain Distressed Debt. On December 31, 2015 management evaluated the collectability of the notes and determined it was necessary to write the balances off. A total of $60,937 was expensed to the income statement. Income Tax Receivable As of March 31, 2016, the Company had an income tax receivable of $26,852 that is related to estimated tax payments on deposit with federal and state taxing authorities. Fair Value of Financial Instruments Available-for-sale securities are accounted for on a specific identification basis. As of March 31, 2016 and December 31, 2015 respectively, we held available-for-sale marketable securities with an aggregate fair value of $108,466 and $117,022 respectively. As of March 31, 2016, all of our available-for-sale securities were invested in publically traded equity holdings. Available-for-sale securities were classified as current based on the percentage of the equity controlled by the Company as well as our intended use of the assets. The Company recognized unrealized losses, net of tax, in accumulated other comprehensive (loss) income for the three months ended March 31, 2016 and 2015 in the amounts of ($11,726) and ($274,362), respectively. The Company's assets measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 at March 31, 2016 and December 31, 2015, were as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2016 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs March 31, Description (Level 1) (Level 2) (Level 3) 2016 Assets: Available-for-sale marketable securities $108,466 $ - $ - $108,466 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs December 31, Description (Level 1) (Level 2) (Level 3) 2015 Assets: Available-for-sale marketable securities $117,022 $ - $ - $117,022

Investments

Investments	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	(2) Investments Investments in Available for Sale Marketable Securities The Company's investments in available for sale marketable securities as of March 31, 2016 and December 31, 2015 are summarized below. As of March 31, 2016 Accumulated Share Market/Cost Unrealized Company Name Shares Cost Price Value Gain/(Loss) Hangover Joe's Holding Corporation 868,463 99,750 0.0014 1,216 (98,534 ) Silver Verde May Mining Co., Inc. 246,294 46,488 0.1000 $ 24,629 (21,858 ) WestMountain Gold, Inc. 918,000 918 0.0900 $ 82,620 81,702 Totals 2,032,757 $ 147,156 $ 108,465 $ (38,690 ) As of December 31, 2015 Accumulated Share Market/Cost Unrealized Company Name Shares Cost Price Value Gain/(Loss) Hangover Joe's Holding Corporation 868,463 99,750 0.0021 1.824 (97,926 ) Silver Verde May Mining Co., Inc 246,294 46,488 0.1770 43,594 (2,894 ) WestMountain Gold, Inc. 918,000 918 0.0780 71,604 70,686 Totals 2,032,757 $ 147,156 $ 117,022 $ (30,134 ) During the three months ended March 31, 2015, the Company's investment in Omni Bio Pharmaceutical, Inc. was determined to have an other than temporary decline in value. The investment was fully impaired resulting in a loss on impairment of available for sale marketable securities of $193,634. Investments in Nonmarketable Securities The Company's investments in nonmarketable securities accounted for under the cost method as of March 31, 2016 and December 31, 2015 are summarized below. March 31, 2016 December 31, 2015 Market/Cost Market/Cost Company Name Shares Units Value Shares Units Value Nonmarketable Securities: SKRP 16, Inc. 200,000 - $ 30,000 200,000 - $ 30,000 Nexcore Real Estate LLC (Common Units) - 1,645,000 1,645 1,645,000 1,645 WestMountain Distressed Debt, Inc. 80,000 - - 80,000 - - RavenBrick (Class C Units) 7 30,000 Totals Shares or Units 280,000 1,645,007 $ 61,645 280,000 1,645,000 $ 31,645

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders Equity	(3) Stockholders Equity Common Stock There were 9,517,402 shares of common stock outstanding as of March 31, 2016 and December 31, 2015. No common shares were issued or cancelled during the three months ended March 31, 2016.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Parties	(4) Related Parties For the three months ended March 31, 2016 and 2015, the Company recorded aggregate advisory/consulting revenue of $50,225 and $53,600, respectively. Of the $50,225 recorded in 2016, $38,000 is related party revenue for services performed on behalf of Nexcore Group LP and Bohemian Asset Management, Inc. The Company, Nexcore and Bohemian are under common principal ownership. As of March 31, 2016 and December 31, 2015, the Company had $38,000 and $6,000, respectively, of accounts receivable from related parties. On November 1, 2015, our 1,645,000 common shares in NexCore Healthcare Capital Corp and our Class B units of NexCore Real Estate LLC was exchanged for 1,645,000 of common units of NexCore Companies LLC. On November 4, 2015, the Board of Directors of NexCore Companies LLC, authorized a $0.167 per unit cash distribution payable to unit holders of record as of December 15, 2015. On December 18, 2015, we deposited a check in the amount of $274,715 as a result of that distribution. In addition, we posted the related tax impact of $5,510. Notes Receivable On October 17, 2014, we entered into a Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $25,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before April 16, 2015. On April 18, 2015, we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of April 18, 2015. The new principal amount was $27,256. The new note carried an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before October 18, 2015. On October 18, 2015 we entered into a new Promissory Note Agreement for the total principal and interest due on the extension as of October 18, 2015. The new principal amount is $29,729. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before April 18, 2016. As of March 31, 2016, the total principal and interest due on this note is $30,814. The Company is currently in negotiation to extend this note. A full allowance has been recognized against this note and the accrued interest. On January 27, 2015, we entered into a Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $25,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before July 27, 2015. On July 27, 2015, we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of July 27, 2015. The new principal amount is $27,244. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before January 27, 2016. As of December 31, 2015, principal and interest due on this note is $29,353. On January 27, 2016, we entered into a new Promissory Note Agreement for the total principal and interest due on the extension as of January 27, 2016. The new principal amount was $29,729. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before July 29, 2016. As of March 31, 2016, principal and interest due on this note is $29,353. A full allowance has been recognized against this note and the accrued interest. On May 4, 2015, we entered into an additional Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $10,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before November 4, 2015. On November 4, 2015 we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of November 4, 2015. The new principal amount is $10,740. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before May 4, 2016. The Company is currently in negotiation to extend this note. On December 31, 2015 management evaluated the collectability of the notes and determined it was necessary to write the balances off. A total of $60,937 was expensed to the income statement. The Company has determined that WestMountain Distressed Debt, Inc., (WMDS) is considered a "variable interest entity", however, WestMountain Company is not the primary beneficiary. WestMountain Company provided funding to WMDS to assist in paying their current operational expenses. The Company is not the only financial supporter to WMDS. The first note was dated October 17, 2014. Below is a summary of the current notes with WMDS that have been written off as of March 31, 2016 AS OF MARCH 31, 2016 AS OF DECEMBER 31, 2015 Note Due Accrued Note Due Accrued Date Date Principal Interest TOTALS Date Date Principal Interest TOTALS 10/19/2015 4/19/2016 $ 29,729 $ 1,085 $ 30,814 10/19/2015 4/19/2016 $ 29,729 $ 1,085 $ 30,814 7/27/2015 1/28/2016 27,244 2,109 29,353 7/27/2015 1/28/2016 27,244 2,109 29,353 11/5/2015 5/5/2016 10,740 479 11,219 11/5/2015 5/5/2016 10,740 479 11,219 TOTAL DUE $ 67,713 $ 3,673 $ 71,386 TOTAL DUE $ 67,713 $ 3,673 $ 71,386 Allowance for doubtful accounts $ (71,386 ) Allowance for doubtful accounts $ (71,386 ) Note receivable, relates parties $ - Note receivable, relates parties $ - The total funding at risk is not sufficient to permit this entity to finance its activities without additional subordinated financial support. WestMountain Company is not a majority equity stakeholder in WMDS, nor does it have voting control, control of the board of directors, or substantive management rights. Given that the Company does not have the power to direct their activities that most significantly impact its economic performance, the Company determined that it is not the primary beneficiary of WMDS and therefore is not required to consolidate this entity. The Company will access any additional transactions with WMDS to determine if the entity will need to be consolidated with the Company based on the VIE disclosure requirements. As of March 31, 2016 and December 31, 2015, the following investments in marketable and nonmarketable securities were held in related parties due to common principal ownership: March 31, 2016 December 31, 2015 Market/Cost Market/Cost Company Name Shares Units Value Shares Units Value Marketable Securities: Hangover Joe's Holding Corporation 868,463 - $ - 868,463 - $ 1,824 WestMountain Gold, Inc. 918,000 - 321,300 918,000 - 71,604 Total Shares or Units 1,786,463 - $ 321,300 1,786,463 - $ 73,428 Nonmarketable Securities: Nexcore Companies LLC (Common Units) - 1,645,000 1,645 - 1,645,000 1,645 WestMountain Distressed Debt, Inc. 80,000 - - 80,000 - - Totals Shares or Units 1,725,000 1,645,000 $ 1,645 1,725,000 1,645,000 $ 1,645 On May 7, 2015 Omni Bio Pharmaceutical filed a Form 8K. This company has been unsuccessful in its fundraising and partnering/licensing efforts and does not anticipate being able to raise sufficient capital to continue operations. Consequently, the Board of Directors of Omni Bio approved an orderly wind down, including negotiations with its senior secured creditor, Bohemian Investments, LLC. This loss in value was deemed to be other than temporary and this investment was fully impaired during the three months ended March 31, 2015 resulting in a loss on impairment of available for sale marketable securities of $193,634.

Nature of Organization and Su10

Nature of Organization and Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Organization and Basis of Presentation	Nature of Organization and Basis of Presentation WestMountain Company ("we", "our" or the "Company"), formerly known as WestMountain Asset Management, Inc. was incorporated in the state of Colorado on October 18, 2007 and on this date approved its business plan and commenced operations. As a consultant to both public and private companies, we promote public visibility and market acceptance for our clients. We use a number of techniques to achieve these objectives for our clients, including developing public recognition of their business plans and strategic goals, managing investor relations, and engaging in website development and media production. We also utilize various social media outlets and services to deliver our client's message. We are paid fees for our services by our clients under written consulting agreements.
Unaudited Financial Information	Unaudited Financial Information The accompanying financial information as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 is unaudited. In the opinion of management, all normal and recurring adjustments which are necessary to provide a fair presentation of the Company's financial position at March 31, 2016 and its operating results for the three months ended March 31, 2016 and 2015 have been made. Certain information and footnote data necessary for a fair presentation of financial position and results of operations in conformity with accounting principles generally accepted in the United States of America have been condensed or omitted. It is therefore suggested that these financial statements be read in conjunction with the summary of significant accounting policies and notes to financial statements included in the Company's annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the year ended December 31, 2015. The results of operations for the three months ended March 31, 2016 is not necessarily an indication of operating results to be expected for the year.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Commitments and Contingencies	Commitments and Contingencies Based on currently available information, the Company believes that it is remote that future costs related to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our financial statements. As the Company learns new facts concerning contingencies, the Company reassesses its position both with respect to accrued liabilities and other potential exposures. In the case of all known contingencies, the Company accrues a liability when the loss is probable and the amount is reasonably estimable. The Company does not reduce these liabilities for potential insurance or third-party recoveries.
Related Parties	(4) Related Parties For the three months ended March 31, 2016 and 2015, the Company recorded aggregate advisory/consulting revenue of $50,225 and $53,600, respectively. Of the $50,225 recorded in 2016, $38,000 is related party revenue for services performed on behalf of Nexcore Group LP and Bohemian Asset Management, Inc. The Company, Nexcore and Bohemian are under common principal ownership. As of March 31, 2016 and December 31, 2015, the Company had $38,000 and $6,000, respectively, of accounts receivable from related parties. On November 1, 2015, our 1,645,000 common shares in NexCore Healthcare Capital Corp and our Class B units of NexCore Real Estate LLC was exchanged for 1,645,000 of common units of NexCore Companies LLC. On November 4, 2015, the Board of Directors of NexCore Companies LLC, authorized a $0.167 per unit cash distribution payable to unit holders of record as of December 15, 2015. On December 18, 2015, we deposited a check in the amount of $274,715 as a result of that distribution. In addition, we posted the related tax impact of $5,510. Notes Receivable On October 17, 2014, we entered into a Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $25,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before April 16, 2015. On April 18, 2015, we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of April 18, 2015. The new principal amount was $27,256. The new note carried an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before October 18, 2015. On October 18, 2015 we entered into a new Promissory Note Agreement for the total principal and interest due on the extension as of October 18, 2015. The new principal amount is $29,729. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before April 18, 2016. As of March 31, 2016, the total principal and interest due on this note is $30,814. The Company is currently in negotiation to extend this note. A full allowance has been recognized against this note and the accrued interest. On January 27, 2015, we entered into a Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $25,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before July 27, 2015. On July 27, 2015, we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of July 27, 2015. The new principal amount is $27,244. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before January 27, 2016. As of December 31, 2015, principal and interest due on this note is $29,353. On January 27, 2016, we entered into a new Promissory Note Agreement for the total principal and interest due on the extension as of January 27, 2016. The new principal amount was $29,729. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before July 29, 2016. As of March 31, 2016, principal and interest due on this note is $29,353. A full allowance has been recognized against this note and the accrued interest. On May 4, 2015, we entered into an additional Promissory Note Agreement with WestMountain Distressed Debt, Inc., a related party, in the amount of $10,000. The note bears an interest rate of 18% per annum until paid in full. Repayment of the loan was due on or before November 4, 2015. On November 4, 2015 we entered into a new Promissory Note Agreement for the total principal and interest due on the original note as of November 4, 2015. The new principal amount is $10,740. The new note carries an interest rate of 18% per annum until paid in full. Repayment of the loan is due on or before May 4, 2016. The Company is currently in negotiation to extend this note. On December 31, 2015 management evaluated the collectability of the notes and determined it was necessary to write the balances off. A total of $60,937 was expensed to the income statement. The Company has determined that WestMountain Distressed Debt, Inc., (WMDS) is considered a "variable interest entity", however, WestMountain Company is not the primary beneficiary. WestMountain Company provided funding to WMDS to assist in paying their current operational expenses. The Company is not the only financial supporter to WMDS. The first note was dated October 17, 2014. Below is a summary of the current notes with WMDS that have been written off as of March 31, 2016 AS OF MARCH 31, 2016 AS OF DECEMBER 31, 2015 Note Due Accrued Note Due Accrued Date Date Principal Interest TOTALS Date Date Principal Interest TOTALS 10/19/2015 4/19/2016 $ 29,729 $ 1,085 $ 30,814 10/19/2015 4/19/2016 $ 29,729 $ 1,085 $ 30,814 7/27/2015 1/28/2016 27,244 2,109 29,353 7/27/2015 1/28/2016 27,244 2,109 29,353 11/5/2015 5/5/2016 10,740 479 11,219 11/5/2015 5/5/2016 10,740 479 11,219 TOTAL DUE $ 67,713 $ 3,673 $ 71,386 TOTAL DUE $ 67,713 $ 3,673 $ 71,386 Allowance for doubtful accounts $ (71,386 ) Allowance for doubtful accounts $ (71,386 ) Note receivable, relates parties $ - Note receivable, relates parties $ - The total funding at risk is not sufficient to permit this entity to finance its activities without additional subordinated financial support. WestMountain Company is not a majority equity stakeholder in WMDS, nor does it have voting control, control of the board of directors, or substantive management rights. Given that the Company does not have the power to direct their activities that most significantly impact its economic performance, the Company determined that it is not the primary beneficiary of WMDS and therefore is not required to consolidate this entity. The Company will access any additional transactions with WMDS to determine if the entity will need to be consolidated with the Company based on the VIE disclosure requirements. As of March 31, 2016 and December 31, 2015, the following investments in marketable and nonmarketable securities were held in related parties due to common principal ownership: March 31, 2016 December 31, 2015 Market/Cost Market/Cost Company Name Shares Units Value Shares Units Value Marketable Securities: Hangover Joe's Holding Corporation 868,463 - $ - 868,463 - $ 1,824 WestMountain Gold, Inc. 918,000 - 321,300 918,000 - 71,604 Total Shares or Units 1,786,463 - $ 321,300 1,786,463 - $ 73,428 Nonmarketable Securities: Nexcore Companies LLC (Common Units) - 1,645,000 1,645 - 1,645,000 1,645 WestMountain Distressed Debt, Inc. 80,000 - - 80,000 - - Totals Shares or Units 1,725,000 1,645,000 $ 1,645 1,725,000 1,645,000 $ 1,645 On May 7, 2015 Omni Bio Pharmaceutical filed a Form 8K. This company has been unsuccessful in its fundraising and partnering/licensing efforts and does not anticipate being able to raise sufficient capital to continue operations. Consequently, the Board of Directors of Omni Bio approved an orderly wind down, including negotiations with its senior secured creditor, Bohemian Investments, LLC. This loss in value was deemed to be other than temporary and this investment was fully impaired during the three months ended March 31, 2015 resulting in a loss on impairment of available for sale marketable securities of $193,634.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Available-for-sale securities are accounted for on a specific identification basis. As of March 31, 2016 and December 31, 2015 respectively, we held available-for-sale marketable securities with an aggregate fair value of $108,466 and $117,022 respectively. As of March 31, 2016, all of our available-for-sale securities were invested in publically traded equity holdings. Available-for-sale securities were classified as current based on the percentage of the equity controlled by the Company as well as our intended use of the assets. The Company recognized unrealized losses, net of tax, in accumulated other comprehensive (loss) income for the three months ended March 31, 2016 and 2015 in the amounts of ($11,726) and ($274,362), respectively. The Company's assets measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 at March 31, 2016 and December 31, 2015, were as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2016 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs March 31, Description (Level 1) (Level 2) (Level 3) 2016 Assets: Available-for-sale marketable securities $108,466 $ - $ - $108,466 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs December 31, Description (Level 1) (Level 2) (Level 3) 2015 Assets: Available-for-sale marketable securities $117,022 $ - $ - $117,022

Nature of Organization and Su11

Nature of Organization and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis	The Company's assets measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 at March 31, 2016 and December 31, 2015, were as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2016 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs March 31, Description (Level 1) (Level 2) (Level 3) 2016 Assets: Available-for-sale marketable securities $108,466 $ - $ - $108,466 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 Quoted Prices in Significant Active Markets for Other Significant Identical Assets and Observable Unobservable Balance as of Liabilities Inputs Inputs December 31, Description (Level 1) (Level 2) (Level 3) 2015 Assets: Available-for-sale marketable securities $117,022 $ - $ - $117,022

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments in Available for Sale Marketable Securities	The Company's investments in available for sale marketable securities as of March 31, 2016 and December 31, 2015 are summarized below. As of March 31, 2016 Accumulated Share Market/Cost Unrealized Company Name Shares Cost Price Value Gain/(Loss) Hangover Joe's Holding Corporation 868,463 99,750 0.0014 1,216 (98,534 ) Silver Verde May Mining Co., Inc. 246,294 46,488 0.1000 $ 24,629 (21,858 ) WestMountain Gold, Inc. 918,000 918 0.0900 $ 82,620 81,702 Totals 2,032,757 $ 147,156 $ 108,465 $ (38,690 ) As of December 31, 2015 Accumulated Share Market/Cost Unrealized Company Name Shares Cost Price Value Gain/(Loss) Hangover Joe's Holding Corporation 868,463 99,750 0.0021 1.824 (97,926 ) Silver Verde May Mining Co., Inc 246,294 46,488 0.1770 43,594 (2,894 ) WestMountain Gold, Inc. 918,000 918 0.0780 71,604 70,686 Totals 2,032,757 $ 147,156 $ 117,022 $ (30,134 )
Investments in Nonmarketable Securities	March 31, 2016 December 31, 2015 Market/Cost Market/Cost Company Name Shares Units Value Shares Units Value Nonmarketable Securities: SKRP 16, Inc. 200,000 - $ 30,000 200,000 - $ 30,000 Nexcore Real Estate LLC (Common Units) - 1,645,000 1,645 1,645,000 1,645 WestMountain Distressed Debt, Inc. 80,000 - - 80,000 - - RavenBrick (Class C Units) 7 30,000 Totals Shares or Units 280,000 1,645,007 $ 61,645 280,000 1,645,000 $ 31,645

Related Parties (Tables)

Related Parties (Tables)	3 Months Ended
	Mar. 31, 2016
Related Parties Tables
Securities held in related parties due to common principal ownership	March 31, 2016 December 31, 2015 Market/Cost Market/Cost Company Name Shares Units Value Shares Units Value Marketable Securities: Hangover Joe's Holding Corporation 868,463 - $ - 868,463 - $ 1,824 WestMountain Gold, Inc. 918,000 - 321,300 918,000 - 71,604 Total Shares or Units 1,786,463 - $ 321,300 1,786,463 - $ 73,428 Nonmarketable Securities: Nexcore Companies LLC (Common Units) - 1,645,000 1,645 - 1,645,000 1,645 WestMountain Distressed Debt, Inc. 80,000 - - 80,000 - - Totals Shares or Units 1,725,000 1,645,000 $ 1,645 1,725,000 1,645,000 $ 1,645

Stockholders Equity (Tables)

Stockholders Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Option Activity	The following table presents the activity for common stock options during the three months ended March 31, 2015: Weighted Average Options Exercise Price Outstanding - December 31, 2014 200,000 $ 0.27 Granted - - Forfeited/canceled - - Exercised - - Outstanding - March 31, 2015 200,000 $ 0.27
Schedule of Options Outstanding and Exercisable, by Exercise Price Range	The following table presents the composition of options outstanding and exercisable as of March 31, 2015 and December 31, 2014. The exercisable options have an intrinsic value of $54,000 and $56,000 as of March 31, 2015 and December 31, 2014. As of March 31, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Number Life Number Price 0.27 200,000 0.4 200,000 0.27 As of December 31, 2014: Options Outstanding Options Exercisable Range of Exercise Prices Number Life Number Price 0.27 200,000 0.6 200,000 0.27

Nature of Organization and Su15

Nature of Organization and Summary of Significant Accounting Policies (Fair Value of Financial Instruments) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Aggregate fair value of available-for-sale securities		$ 108,466	$ 117,022
Unrealized loss on investments in marketable equity securities, net of tax	$ (11,726)	$ (274,362)

Related Parties (Details)

Related Parties (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	May. 13, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Advisory/consulting fees, related parties	$ 38,000	$ 53,600
Advisory/consulting revenue from all sources	$ 50,600	60,750
Accounts receivable, related parties		$ 18,000		$ 38,000	$ 6,000
Cash dividend per share	$ .10	$ 0.01
Dividend income on nonmarketable securities		$ (193,634)
Bohemian Companies Limited Liability Company [Member]
Related Party Transaction [Line Items]
Amount of transaction	$ 3,000		$ 3,000
Accrued liabilities, related parties		0	1,000
Nexcore [Member]
Related Party Transaction [Line Items]
Accounts receivable, related parties		$ 394,800
Shares		1,645,000
Dividend income on nonmarketable securities			$ 16,450

Related Parties (Schedule of Re

Related Parties (Schedule of Related Party Investments) (Details) (USD $) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Related Party Transaction [Line Items]
Cost	$ 147,156	$ 147,156
Omni Bio Pharmaceutical Inc [Member]
Related Party Transaction [Line Items]
Shares		1,707,107
Cost		$ 630,779
Hangover Joes Holding Corp [Member]
Related Party Transaction [Line Items]
Shares	868,463	868,463
Cost		$ 2,432
WestMountain Gold, Inc. (formerly WestMountain Index Advisor, Inc.)
Related Party Transaction [Line Items]
Shares	918,000	918,000
Cost	$ 321,300	$ 982,309
Marketable Totals [Member]
Related Party Transaction [Line Items]
Shares	1,786,463	1,725,000
Cost	$ 321,300	$ 1,645
Nexcore Real Estate LLC Class B Units [Member]
Related Party Transaction [Line Items]
Shares		1,645,000	1,645,000
Cost			$ 1,645
Nexcore Real Estate LLC [Member]
Related Party Transaction [Line Items]
Shares	1,645,000	1,645,000
Cost	$ 1,645	$ 1,645
WestMountain Distressed Debt [Member]
Related Party Transaction [Line Items]
Shares	80,000	80,000
Non Marketable Totals [Member]
Related Party Transaction [Line Items]
Shares	1,725,000	1,645,000
Cost	$ 1,645	$ 1,645

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	May. 13, 2016	Dec. 31, 2015	Aug. 15, 2012
Stockholders' Equity Note [Abstract]
Outstanding shares		9,517,402	9,517,402
Shares authorized under stock option plan			200,000	200,000
Terms of options per compensation plan agreement (in years)	4 years
Percentage of options that vest and are exercisable immediately				50.00%
Percentage of options that vest on the first anniversary date of August 15, 2012				25.00%
Percentage of options that vest on the second anniversary date of August 15, 2013				25.00%
Exercise price			$ 0.27
Fair value	$ 41,038
Risk free interest rate	99.00%
Volatility rate	99.00%
Expected life in years	2 years 1 month 6 days
Share-based compensation expense recognized during the period	$ 41,038

Stockholders Equity (Stock Opti

Stockholders Equity (Stock Option Activity) (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2014
Stock option activity
Outstanding, beginning		200,000
Weighted average exercise price, beginning	$ 0.27
Weighted average remaining life	4 months 2 days	6 months 1 day

Stockholders Equity (Exercisabl

Stockholders Equity (Exercisable and Outstanding Options by Exercise Price Range) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2015	Mar. 31, 2015
Options by exercise price range
Options exercisable, intrinsic value			$ 56,000	$ 54,000
Minimum exercise price	$ 0.27	$ 0.27
Options outstanding			200,000	200,000
Options exercisable outstanding			200,000	200,000
Weighted average remaining life	4 months 2 days	6 months 1 day

Investments (Available for Sale

Investments (Available for Sale Marketable Securities) (Details) - USD ($)	May. 13, 2016	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Shares		2,032,757	2,032,757
Cost		$ 147,156	$ 147,156
Market/Cost Value	$ 108,466	108,465	117,022
Accumulated Unrealized Gain/Loss		$ (38,690)	$ (30,134)
Hangover Joe's Holding Corporation [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares		868,463	868,463
Cost		$ 99,750	$ 99,750
Share Price		$ 0.0014	$ 0.0021
Market/Cost Value		$ 26,276	$ 1,824
Accumulated Unrealized Gain/Loss		$ (99,750)	$ (97,926)
Silver Verde May Mining Co., Inc [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares		246,294	246,294
Cost		$ 46,488	$ 46,488
Share Price		$ 0.1000	$ 0.1770
Market/Cost Value		$ 24,629	$ 43,594
Accumulated Unrealized Gain/Loss		$ (21,858)	$ (2,894)
WestMountain Gold, Inc. (formerly WestMountain Index Advisor, Inc.) [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares		918,000	918,000
Cost		$ 918	$ 918
Share Price		$ 0.0900	$ 0.0780
Market/Cost Value		$ 82,620	$ 71,604
Accumulated Unrealized Gain/Loss		$ 81,702	$ 70,686

Investments (Cost Method Nonmar

Investments (Cost Method Nonmarketable Investments) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Shares/Units	3,570,000	280,000
Cost	$ 31,645	$ 31,645
SKRP 16 Inc [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares/Units	200,000	200,000
Cost	$ 30,000	$ 30,000
Nexcore Real Estate LLC [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares/Units	1,645,000	1,645,000
Cost	$ 1,645
Nexcore Healthcare Capital [Member]
Schedule of Available-for-sale Securities [Line Items]
Shares/Units	1,645,000	1,645,000
Cost	$ 1,645	$ 1,645