Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2019
Schedule of Business Acquisition, Pro Forma Information
 

Three Months Ended

June 30,

    

Six Months

Ended June 30,

  
    2019     2018     2019     2018  
Total revenue   $ 16,749     $ 21,129     $ 33,897     $ 42,610  
Net loss   $ (571 )   $ (2,618 )   $ (2,729 )   $ (5,953 )
Net loss attributable to common shareholders   $ (2,058 )   $ (3,867 )   $ (5,708 )   $ (7,977 )
Net loss per common share   $ (0.17 )   $ (0.33 )   $ (0.48 )   $ (0.69 )
2019 Acquisition [Member]  
Schedule of Assets Acquired and Liabilities Assumed

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

 

Customer relationships   $ 856,000  
Accounts receivable     547,377  
Contract asset     139,169  
Operating lease right-of-use assets     1,224,480  
Property and equipment     91,277  
Goodwill     39,901  
Operating lease liabilities     (1,224,480 )
Accrued expenses     (73,724 )
Total   $ 1,600,000  
2018 Acquisition [Member]  
Schedule of Assets Acquired and Liabilities Assumed

The Company engaged a third-party valuation specialist to assist the Company in valuing the assets acquired from Orion. 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 )
Total   $ 12,600,000