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Acquisition of PERC (Tables) | 12 Months Ended
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Dec. 31, 2020
Acquisition of PERC |
Summary of purchase price for PERC | ​
​ | ​ | ​ | ​
Cash consideration |  |  | ​
Purchase price (excluding working capital) | ​ | $ | 4,088,817
Cash acquired | ​ |  | (941,379)
Total cash consideration | ​ | $ | 3,147,438
Summary of estimated fair values of the assets and liabilities assumed at the acquisition date | ​
​ | ​ | ​ | ​
Financial assets |  | $ | 1,371,532
Contract assets |  | ​ | 20,854
Property, plant and equipment |  | ​ | 86,287
Identifiable intangible assets |  | ​ | 3,990,000
Deferred tax liability | ​ | ​ | (1,117,200)
Accounts payable and accrued liabilities |  | ​ | (1,260,722)
Working capital adjustment payable |  | ​ | (23,467)
Deferred revenue |  | ​ | (117,636)
Contract liabilities |  | ​ | (760,992)
Net liability arising from put/call options |  | ​ | (744,000)
Total identifiable net assets |  | ​ | 1,444,656
Non-controlling interest in PERC |  | ​ | (3,617,634)
Goodwill |  | ​ | 5,320,416
​ | ​ | $ | 3,147,438
Summary of components of identifiable intangible assets assumed at the acquisition date | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Amount |  | Useful life
Non-compete agreement | ​ | $ | 130,000 |  | 3 years
Trade name | ​ |  | 1,300,000 |  | 15 years
Customer backlog | ​ |  | 360,000 |  | 2 years
Facility management contracts | ​ |  | 2,200,000 |  | 6 years
​ | ​ | $ | 3,990,000 | ​ | ​
Summary of results of operations of PERC included in the Company's results of operations | ​
​ | ​ | ​ | ​
Revenue | ​ | $ | 1,376,793
Gross profit | ​ |  | 407,604
Amortization of intangibles, net of tax benefit | ​ |  | (81,200)
Net income | ​ |  | 37,924
Summary of pro forma financial information | ​
​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2019
Revenue |  | $ | 77,615,958
Cost of revenue | ​ |  | 47,162,564
Gross profit | ​ |  | 30,453,394
General and administrative expenses | ​ |  | 21,620,106
Gain (loss) on asset dispositions and impairments, net | ​ |  | 447,681
Income from operations | ​ |  | 9,280,969
Other income (expense), net | ​ |  | 805,093
Income before income taxes | ​ |  | 10,086,062
Provision for (benefit from) income taxes | ​ |  | 72,814
Net income from continuing operations | ​ |  | 10,013,248
Income from continuing operations attributable to non-controlling interests | ​ |  | 1,505,068
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  | 8,508,180
Gain on sale of discontinued operations | ​ |  | 3,621,170
Net income from discontinued operations | ​ |  | —
Total income from discontinued operations | ​ |  | 3,621,170
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ | $ | 12,129,350
​ | ​ | ​ | ​
Basic earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders | ​ |  |
Continuing operations | ​ | $ | 0.57
Discontinued operations | ​ |  | 0.24
Basic earnings per share | ​ | $ | 0.81
​ | ​ | ​ | ​
Diluted earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders | ​ |  |
Continuing operations | ​ | $ | 0.56
Discontinued operations | ​ |  | 0.24
Diluted earnings per share | ​ | $ | 0.80
​ | ​ | ​ | ​
Weighted average number of common shares used in the determination of: | ​ |  |
Basic earnings per share | ​ |  | 15,025,639
Diluted earnings per share | ​ |  | 15,137,076

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