Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

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ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2022
Asset Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION PRO FORMA INFORMATION

 

    2022     2021     2022     2021  
    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2022     2021     2022     2021  
    ($ in thousands, except per share amounts)  
Total revenue   $ 37,228     $ 42,169     $ 72,569     $ 81,624  
Net income (loss)   $ 2,830     $ (337 )   $ 4,067     $ (1,622 )
Net loss attributable to common shareholders   $ (946 )   $ (3,975 )   $ (3,746 )   $ (8,389 )
Net loss per common share   $ (0.06 )   $ (0.28 )   $ (0.25 )   $ (0.59 )
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:

 

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