Business Combinations (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of the Estimate of Consideration Paid by Company in Merger

The estimate of the consideration paid by the Company in the transaction is as follows:


Fair Value of the ASTV common shares	(A)	$	6,456,713
Less:
Reduction in note payable to IBI	(B)		(450,000	)
Interest accrued on IBI note payable	(C)		(9,237	)
Consideration effectively transferred		$	5,997,476

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(A)

Based on 71,741,250 common shares with a fair value of $0.09 per share, the closing price of As Seen On TV, Inc. common shares on April 2, 2014, the transaction closing date.

(B)

Represents a series of notes issued by ASTV to IBI between December 23, 2013 and March 14, 2014 used for general working capital purposes. In the event the merger transaction was not completed by June 30, 2014, all principal and related accrued interest became payable, which was forgiven when the transaction closed.

(C)

Accrued interest related to the IBI notes, accrued at 12% per annum.

Schedule of Pro Forma Information

The following unaudited pro forma results for the six months periods ended June 30, 2014 and 2013 summarize the condensed consolidated results of operations of the Company, assuming the recognition of Ronco as a Variable Interest Entity and reverse acquisition had occurred on January 1, 2013 and after giving effect to the reverse acquisition adjustments, including amortization of intangibles fair valued during the transactions and transaction related costs:


	Six Months Ended June 30,
	2014			2013
Net revenues	$	7,223,669		$	18,441,410
Net income (loss) attributable to As Seen On TV, Inc. stockholders		(4,510,615	)		15,463,691
Net loss per share:
Basic	$	(0.01	)	$	0.03
Diluted	$	(0.01	)	$	0.03
Weighted-average number of common shares outstanding:
Basic		531,815,115			524,242,972
Diluted		531,815,115			526,305,472

As Seen On TV, Inc. [Member]

Business Acquisition [Line Items]

Schedule of the Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated provisional fair value amounts of assets acquired and liabilities assumed on the effective date of acquisition:


Cash and cash equivalents	$	53,966
Accounts receivable		4,560
Note receivable - current		225,000
Prepaid expenses and other current assets		271,804
Restricted cash - non current		83,462
Note receivable - non current		675,000
Property and equipment		43,798
Goodwill		514,097
Intangible assets		7,950,000
Deposits		2,185
Total assets acquired		9,823,872

Accounts payable		(625,413	)
Accrued expenses and other current liabilities		(361,471	)
Notes payable - current portion		(230,486	)
Warrant liability		(1,668,795	)
Current liabilities of discontinued operations		(904,788	)
Notes payable - non current		(35,443	)
Total liabilities assumed		(3,826,396	)
Net assets acquired	$	5,997,476

Ronco [Member]

Business Acquisition [Line Items]

Schedule of the Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated provisional fair value amounts of assets and liabilities recorded as of the effective date:


Cash and cash equivalents	$	96,432
Accounts receivable		752,172
Inventories		1,517,374
Prepaid expenses and other current assets		332,613
Property and equipment		179,672
Goodwill		15,907,825
Intangible assets		3,700,000
Total assets		22,486,088

Accounts payable		(2,443,917	)
Accrued expenses and other current liabilities		(2,238,531	)
Notes payable - current portion		(10,165,040	)
Notes payable - related party - current portion		(3,016,228	)
Notes payable - non current portion		(1,922,372	)
Redeemable preferred stock		(2,700,000	)
Total liabilities and temporary equity		(22,486,088	)
Consideration paid	$	-