Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

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ACQUISITIONS (Tables)
 3 Months Ended
Mar. 31, 2022
Asset Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION PRO FORMA INFORMATION

 

    2022     2021  
    Three Months Ended March 31,  
    2022     2021  
    ($ in thousands except per share amounts)  
Total revenue   $ 35,341     $ 39,455  
Net income (loss)   $ 1,237     $ (1,286 )
Net loss attributable to common shareholders   $ (2,800 )   $ (4,414 )
Net loss per common share   $ (0.19 )   $ (0.31 )
Acquisition 2021 [Member] | Meridian Billing Management Co [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

medSR Purchase Price      
    ($ in thousands)  
Cash   $ 12,261  
Amounts held in escrow     1,571  
Contingent consideration     5,605  
Total purchase price   $ 19,437  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The Company engaged a third party valuation specialist to assist the Company in valuing the assets acquired and liabilities assumed from MedMatica. The following table summarizes the purchase price allocation.

 

    ($ in thousands)  
Accounts receivable   $ 2,696  
Receivable from seller     227  
Prepaid expenses     102  
Unbilled receivables     2,491  
Property and equipment     84  
Customer relationships     3,100  
Acquired backlog     490  
Goodwill     11,931  
Accounts payable     (539 )
Accrued expenses & compensation     (1,125 )
Deferred revenue     (20 )
Total purchase price allocation   $ 19,437