Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.19.1
Acquisition (Tables)
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the purchase price allocation.

 

Customer relationships   $ 6,250,000  
Accounts receivable     5,654,919  
Contract asset     861,341  
Inventory     307,278  
Property and equipment     319,352  
Goodwill     329,852  
Accounts payable     (677,872 )
Accrued expenses     (444,870 )
    $ 12,600,000  

Schedule of Business Acquisition, Pro Forma Information

The unaudited pro forma information reflects material, non-recurring pro forma adjustments directly attributable to the business combination. The difference between the actual revenue and the pro forma revenue is approximately $10 million of additional revenue recorded by Orion in the three months ended March 31, 2018.

 

    Three Months Ended
March 31, 2018
 
    ($ in thousands, except per share data)  
Total revenue   $ 18,310  
Net loss   $ (678 )
Net loss attributable to common shareholders   $ (1,453 )
Net loss income per common share   $ (0.13 )