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v3.22.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2022
Acquisitions (Tables) |
Cost Of Acquisition |
(in thousands) |  | Initial Valuation |  |  | Adjustments |  | December 31, 2021 |
Consideration: |  |  |  |  |  |  |  |
Cash |  | $ | 10,000 |  |  |  |  | $ | 10,000 |
Common stock |  |  | 16,942 |  |  |  |  |  | 16,942 |
Stock options |  |  | 22,120 |  |  |  |  |  | 22,120 |
Total consideration |  | $ | 49,062 |  |  |  |  | $ | 49,062 |
(in thousands) |  | Initial Valuation |  |  | Adjustments |  | December 31, 2021 |
Consideration: |  |  |  |  |  |  |  |
Cash |  | $ | 2,163 |  |  |  |  | $ | 2,163 |
Common stock |  |  | 346 |  |  |  |  |  | 346 |
Contingent consideration |  |  | 746 |  |  |  |  |  | 746 |
Total consideration |  | $ | 3,255 |  |  |  |  | $ | 3,255 |
Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed |
|  | Initial Valuation |  |  | Adjustments |  |  | December 31, 2021 |
Total purchase price |  | $ | 49,062 |  |  |  |  |  | $ | 49,062 |
Cash |  |  | 1,658 |  |  |  | 739 | (b) |  |  | 2,397 |
Accounts receivables |  |  | 846 |  |  |  | 107 | (f) |  |  | 953 |
Prepaid expenses |  |  | 57 |  |  |  |  |  |  |  | 57 |
Contract cost |  |  | - |  |  |  | 105 | (f) |  |  | 105 |
Other assets |  |  | 319 |  |  |  | 4 | (c) |  |  | 323 |
Property, plant & equipment |  |  | 62 |  |  |  | (2 | )(c) |  |  | 60 |
Right to use assets |  |  | 551 |  |  |  | 4 | (d) |  |  | 555 |
Deferred tax assets |  |  | 2,829 |  |  |  | (2,829 | )(g) |  |  | - |
Intangible assets acquired (FV) |  |  | 21,520 |  |  |  | (420 | )(a) |  |  | 21,100 |
Long-term trade receivables, net of current |  |  | - |  |  |  | 63 | (f) |  |  | 63 |
Other long-term assets |  |  | 84 |  |  |  | 5 | (c) |  |  | 89 |
Total identifiable assets |  |  | 27,926 |  |  |  |  |  |  |  | 25,702 |
Accounts payable |  |  | 438 |  |  |  | 69 | (c) |  |  | 507 |
Accrued expenses |  |  | 2,412 |  |  |  | 817 | (b)(c) |  |  | 3,229 |
Contract liability |  |  | 1,475 |  |  |  | 732 | (e)(f) |  |  | 2,207 |
Operating lease liability |  |  | 379 |  |  |  | 17 | (d) |  |  | 396 |
Direct financing liability |  |  | 17 |  |  |  | (17 | )(d) |  |  | - |
Contract liability, net of current portion |  |  | 629 |  |  |  | (629 | )(e) |  |  | - |
Direct financing liability, net of current portion |  |  | 29 |  |  |  | (29 | )(d) |  |  | - |
Operating lease liability, net of current portion |  |  | 219 |  |  |  | 30 | (d) |  |  | 249 |
Deferred tax liability |  |  | - |  |  |  | 5,033 | (g) |  |  | 5,033 |
Total liabilities assumed |  |  | 5,598 |  |  |  |  |  |  |  | 11,621 |
Total goodwill |  | $ | 26,734 |  |  |  | 8,247 |  |  | $ | 34,981 |
|  | Initial Valuation |  |  | Adjustments |  |  | December 31, 2021 |
Total purchase price |  | $ | 3,255 |  |  |  |  |  | $ | 3,255 |
Cash |  |  | 7 |  |  |  |  |  |  | 7 |
Accounts receivables |  |  | 122 |  |  |  |  |  |  | 122 |
Prepaid expenses |  |  | 4 |  |  |  |  |  |  | 4 |
Inventory |  |  | 12 |  |  |  |  |  |  | 12 |
Other assets |  |  | 12 |  |  |  |  |  |  | 12 |
Property, plant & equipment |  |  | 57 |  |  |  |  |  |  | 57 |
Right to use assets |  |  | 134 |  |  |  |  |  |  | 134 |
Intangible assets acquired (FV) |  |  | 2,238 |  |  |  | (38 | )(a) |  |  | 2,200 |
Other long-term assets |  |  | 44 |  |  |  |  |  |  |  | 44 |
Total identifiable assets |  |  | 2,630 |  |  |  |  |  |  |  | 2,592 |
Accounts payable |  |  | 26 |  |  |  |  |  |  |  | 26 |
Accrued expenses |  |  | 187 |  |  |  | 8 | (b) |  |  | 195 |
Contract liability |  |  | 147 |  |  |  |  |  |  |  | 147 |
Operating lease liability |  |  | 118 |  |  |  | 16 | (c) |  |  | 134 |
Direct financing liability |  |  | 20 |  |  |  |  |  |  |  | 20 |
Deferred tax liability |  |  | - |  |  |  | 534 | (d) |  |  | 534 |
Total liabilities assumed |  |  | 498 |  |  |  |  |  |  |  | 1,056 |
Total goodwill |  | $ | 1,123 |  |  |  | 596 |  |  | $ | 1,719 |
Pro Forma Information |
|  | For the Three Months Ended March 31, (Unaudited, in thousands) |
|  | 2022 |  |  | 2021 |
Revenues |  | $ | 8,158 |  |  | $ | 8,353 |
Net loss |  |  | (1,220 | ) |  |  | (1,591 | )
Earnings per share |  | $ | (0.05 | ) |  | $ | (0.07 | )

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