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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
| Pay Systems |  | USA Payroll |  | Others |  | Total
Cash & cash equivalents | $ | 764 |  |  | $ | 470 |  |  | $ | 643 |  |  | $ | 1,877 |
Accounts receivable | 56 |  |  | 104 |  |  | 2,395 |  |  | 2,555 |
Fixed assets | 121 |  |  | 98 |  |  | 428 |  |  | 647 |
Inventory | — |  |  | — |  |  | 121 |  |  | 121 |
Other assets | 100 |  |  | 5 |  |  | 995 |  |  | 1,100 |
Funds held for clients | 10,976 |  |  | 20,439 |  |  | 14,013 |  |  | 45,428 |
Goodwill | 9,606 |  |  | 12,644 |  |  | 11,966 |  |  | 34,216 |
Intangibles | 7,240 |  |  | 17,643 |  |  | 15,440 |  |  | 40,323 |
Total assets acquired | $ | 28,863 |  |  | $ | 51,403 |  |  | $ | 46,001 |  |  | $ | 126,267 |
Accounts payable | 85 |  |  | 39 |  |  | 880 |  |  | 1,004 |
Deferred tax liability | 1,364 |  |  | 3,622 |  |  | 2,036 |  |  | 7,022 |
Accrued other liabilities | 946 |  |  | 376 |  |  | 2,335 |  |  | 3,657 |
Deferred revenue | — |  |  | — |  |  | 1,289 |  |  | 1,289 |
Client fund obligations | 11,962 |  |  | 20,439 |  |  | 14,000 |  |  | 46,401 |
Total liabilities assumed | 14,357 |  |  | 24,476 |  |  | 20,540 |  |  | 59,373 |
Net assets acquired | $ | 14,506 |  |  | $ | 26,927 |  |  | $ | 25,461 |  |  | $ | 66,894 |
Schedule of Business Acquisitions, by Acquisition | The following is a reconciliation of the purchase price to the fair value of net assets acquired at the date of acquisition:
| Pay Systems |  | USA Payroll |  | Others |  | Total
Purchase price | $ | 15,507 |  |  | $ | 27,504 |  |  | $ | 28,142 |  |  | $ | 71,153 |
Working capital adjustment | (940 | ) |  | — |  |  | (557 | ) |  | (1,497 | )
Adjustment to fair value of contingent liability | — |  |  | — |  |  | (1,761 | ) |  | (1,761 | )
Adjustment to fair value of Asure’s stock | — |  |  | (287 | ) |  | (7 | ) |  | (294 | )
Debt discount | (61 | ) |  | (290 | ) |  | (356 | ) |  | (707 | )
Fair value of net assets acquired | $ | 14,506 |  |  | $ | 26,927 |  |  | $ | 25,461 |  |  | $ | 66,894 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | Management assessed the fair value of the promissory note and cash consideration as of April 1, 2018, which was as follows:
| Fair Value
Cash | $ | 10,000 |
Promissory note | 450 |
Debt discount | (46 | )
Total | $ | 10,404 |
Fair value of asset acquired, Customer Relationships | $ | 10,404 |
Business Acquisition, Pro Forma Information | The following unaudited summary of pro forma combined results of operations for the year ended December 31, 2018 gives effect to our 2018 business and asset acquisitions as if we had completed them on January 1, 2017. This pro forma summary does not reflect any operating efficiencies, cost savings or revenue enhancements that we may achieve by combining operations. In addition, we have not reflected certain non-recurring expenses, such as legal expenses and other transactions expenses for the first 12 months after the acquisition, in the pro forma summary. We present this pro forma summary for informational purposes only and it is not necessarily indicative of what our actual results of operations would have been had the acquisitions taken place as of January 1, 2017, nor is it indicative of future consolidated results of operations.
| Year Ended December 31, 2018
Revenues | $ | 74,062 |
Net income (loss) | $ | (9,937 | )
Net income (loss) per common share: |
Basic and diluted | $ | (0.70 | )
Weighted average shares outstanding | 14,121 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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