Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2018
Business Acquisition, Pro Forma Information

The unaudited pro forma information reflects adjustments related to (a) additional amortization of purchased intangible assets, (b) expenses are directly attributable to the acquisitions, (c) reversal of goodwill impairment, (d) adjustments for income taxes and (e) adjustments of intercompany balances.

 

    Year Ended December 31,  
    2018     2017  
    ($ in thousands, except per share data)  
Net revenue   $ 69,625     $ 74,791  
Net loss   $ (1,571 )   $ (20,711 )
Net loss attributable to common shareholders   $ (6,395 )   $ (22,741 )
Net loss per common share   $ (0.55 )   $ (2.07 )

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 and assumed liabilities 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 )
    $ 12,600,000  

2017 Acquisition [Member]  
Schedule of Assets Acquired and Liabilities Assumed

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

 

Customer relationships   $ 120,000  
Goodwill     85,000  
    $ 205,000