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ACQUISITION OF CANTALOUPE SYSTEMS, INC. (Tables) | 6 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Schedule of preliminary fair value of purchase price consideration | The fair value of the purchase price consideration consisted of the following:
($ in thousands) |  |
Cash consideration, net of cash acquired |  | $ | 65,181 |
USAT shares issued as stock consideration (As Restated) |  | 23,279 |
Post-closing adjustment for working capital |  | (253 | )
Total consideration (As Restated) |  | $ | 88,207 |
Schedule of pro forma operations results | The following table summarizes the fair value of total consideration transferred to the holders of all of the outstanding equity interests of Cantaloupe at the acquisition date of November 9, 2017:
($ in thousands) |  | November 9, 2017 (As Restated)
Accounts receivable |  | $ | 2,921 |
Finance receivables |  | 1,480 |
Inventory |  | 282 |
Prepaid expense and other current assets |  | 646 |
Finance receivables due after one year |  | 3,603 |
Other assets |  | 50 |
Property and equipment |  | 2,234 |
Intangibles |  | 30,800 |
Total assets acquired |  | 42,016 |
Accounts payable |  | (1,591 | )
Accrued expenses |  | (2,401 | )
Deferred revenue |  | (518 | )
Capital lease obligations and current obligations under long-term debt |  | (666 | )
Capital lease obligations and long-term debt, less current portion |  | (1,134 | )
Deferred income tax liabilities |  | (157 | )
Total identifiable net assets |  | 35,549 |
Goodwill |  | 52,658 |
Total fair value |  | $ | 88,207 |
Schedule of fair value of total consideration transferred to the acquisition date | Other material non-recurring adjustments are reflected in the pro forma and described below:
|  | Three months ended |  | Six months ended
($ in thousands, except per share data) |  | December 31, 2017 (as restated)
Revenue |  |  |  | $ | 33,970 |  |  | $ | 64,859 |
Net loss attributable to USAT |  |  |  | (2,339 | ) |  | (4,359 | )
Net loss attributable to USAT common shares |  |  |  | $ | (2,339 | ) |  | $ | (4,693 | )
Net loss per share: |  |  |  |  |  |
Basic |  |  |  | $ | (0.04 | ) |  | $ | (0.09 | )
Diluted |  |  |  | $ | (0.04 | ) |  | $ | (0.09 | )
Weighted average number of common shares outstanding: |  |  |  |  |  |
Basic |  |  |  | 53,619,921 |  |  | 53,584,368 |
Diluted |  |  |  | 53,619,921 |  |  | 53,584,368 |

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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