Annual report pursuant to Section 13 and 15(d)

ACQUISITION (Tables)

v3.22.4
ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2022
Asset Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION PRO FORMA INFORMATION

 

         
    Year Ended December 31, 2021  
    ($ in thousands, except per share amounts)  
Total revenue   $ 157,390  
Net income   $ 3,753  
Net loss attributable to common shareholders   $ (10,299 )
Net loss per common share   $ (0.71 )

 
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 purchase price allocation for medSR is summarized as follows:

 

    ($ 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