Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.3
Acquisitions (Tables)
9 Months Ended
Sep. 30, 2019
Schedule of Business Acquisition, Pro Forma Information

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2019     2018     2019     2018  
      ($ in thousands except per share amounts)  
Total revenue   $ 16,851     $ 19,807     $ 50,748     $ 62,416  
Net loss   $ (84 )   $ (4,008 )   $ (2,752 )   $ (9,961 )
Net loss attributable to common shareholders   $ (1,686 )   $ (5,064 )   $ (7,334 )   $ (13,041 )
Net loss per common share   $ (0.14 )   $ (0.43 )   $ (0.61 )   $ (1.12 )

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