4. Business Combinations (Tables)
|
12 Months Ended |
Dec. 31, 2014 |
|---|
| Infusion [Member] |
|
| Business Acquisition [Line Items] |
|
| Schedule of the Estimate of Consideration Paid by Company in Merger |
| Fair Value of the ASTV common shares | |
| (A) | | |
$ | 7,096,917 | |
| Less: | |
| | | |
| | |
| Reduction in note payable to IBI | |
| (B) | | |
| (450,000 | ) |
| Interest accrued on IBI
note payable | |
| (C) | | |
| (9,237 | ) |
| Consideration effectively transferred | |
| | | |
$ | 6,637,680 | |
———————
| (A) |
Based on 78,854,625
common shares with a fair value of $0.09 per share, the closing price of ASTV 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 the Fair Value of Assets Acquired and Liabilities Assumed |
| Cash and cash equivalents | |
$ | 53,966 | |
| Accounts receivable | |
| 4,560 | |
| Prepaid expenses and other current assets | |
| 271,804 | |
| Restricted cash – non current | |
| 83,462 | |
| Property and equipment | |
| 43,798 | |
| Goodwill | |
| 4,044,100 | |
| Intangible assets | |
| 6,150,000 | |
| Deposits | |
| 2,185 | |
| Total assets acquired | |
| 10,653,875 | |
| | |
| | |
| 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 | ) |
| Deferred tax liability | |
| (189,799 | ) |
| Total liabilities assumed | |
| (4,016,195 | ) |
| Net assets acquired | |
$ | 6,637,680 | |
|
| Ronco Holdings Inc [Member] |
|
| Business Acquisition [Line Items] |
|
| Schedule of the Fair Value of Assets Acquired and Liabilities Assumed |
| Cash and cash equivalents | |
$ | 96,432 | |
| Accounts receivable | |
| 735,442 | |
| Inventories | |
| 1,517,374 | |
| Prepaid expenses and other current assets | |
| 130,671 | |
| Property and equipment | |
| 246,815 | |
| Goodwill | |
| 15,963,074 | |
| Intangible assets | |
| 3,700,000 | |
| Total assets | |
| 22,389,808 | |
| | |
| | |
| Accounts payable | |
| (2,190,090 | ) |
| Accrued expenses and other current liabilities | |
| (2,396,078 | ) |
| Notes payable - current portion | |
| (10,165,040 | ) |
| Notes payable - related party - current portion | |
| (3,016,227 | ) |
| Notes payable - Non current portion | |
| (1,922,373 | ) |
| Redeemable preferred stock | |
| (2,700,000 | ) |
| Total liabilities and temporary
equity | |
| (22,389,808 | ) |
| Consideration paid | |
$ | – | |
|
| Schedule of Pro Forma Information |
| | |
Year
Ended
December 31, | |
| | |
2014 | | |
2013 | |
| Net revenues | |
$ | 19,546,075 | | |
$ | 30,110,380 | |
| Net income (loss) attributable to As Seen On TV, Inc. stockholders | |
| (22,184,369 | ) | |
| 18,555,935 | |
| Net loss per share | |
| | | |
| | |
| Basic | |
$ | (0.04 | ) | |
$ | 0.04 | |
| Diluted | |
$ | (0.04 | ) | |
$ | 0.04 | |
| Weighted-average number of common shares outstanding: | |
| | | |
| | |
| Basic | |
| 537,898,875 | | |
| 452,960,490 | |
| Diluted | |
| 537,898,875 | | |
| 454,085,490 | |
|