Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.8.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2017
Business Acquisition, Pro Forma Information

The pro forma information has been included for comparative purposes and is not indicative of results of operations of the Company would have had if the acquisitions occurred on the above date, nor is it necessarily indicative of future results.

 

    Years Ended December 31,  
    2017     2016  
Total revenue   $ 32,328,450     $ 42,028,156  
Net loss attributable to common shareholders   $ (7,294,453 )   $ (17,328,481 )
Net loss per common share   $ (0.66 )   $ (1.73 )

2017 Acquisitions [Member]  
Schedule of Business Acquisitions, by Acquisition

The purchase price allocation for WMB was performed by the Company and is summarized as follows:

 

Customer relationships   $ 120,000  
Goodwill     85,000  
    $ 205,000  

2016 Acquisitions [Member]  
Schedule of Business Acquisitions, by Acquisition

The following table summarizes the purchase price allocations.

 

Allocation of Purchase Price:                        
                         
    GCB     RMB     WFS     MediGain  
Customer relationships   $ 1,100,000     $ 190,000     $ 265,000     $ 2,650,000  
Working capital     -       -       -       813,000  
Goodwill     344,000       135,000       23,000       2,707,000  
Non-compete agreement     20,000       -       10,000       -  
Tangible assets     16,000       -       -       229,000  
Software and trademarks     -       -       -       601,000  
    $ 1,480,000     $ 325,000     $ 298,000     $ 7,000,000