|12 Months Ended|
Sep. 30, 2016
|Notes to Financial Statements|
|NOTE 8. NON-CONTROLLING INTEREST||
On June 22, 2006, AlphaRx International Holdings Ltd. (AIH), previously a wholly-owned subsidiary of the Company issued 1,500 shares of its Common Stock to New Super Limited (NSL), an independent Hong Kong based corporation, at a price of approximately HK$ 6,667 per share or HK$ 10 million in cash (US$1,288,826). As a result, AIHs issued and outstanding shares were increased to 10,000 and the Companys interest in AIH was reduced to 80%. With the consolidation of only 80% of AIH, a non-controlling interest was established, representing amounts owing to the minority shareholder. The capital infusion into AIH is accounted for as additional paid in capital on the consolidated financial statements of the Company.
The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.
Reference 1: http://www.xbrl.org/2003/role/presentationRef