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Note 3 - Acquisitions

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Business Combination Disclosure [Text Block]

3. Acquisitions:

(a) Uniregistry

On October 1, 2021, the Company acquired the domain registry related assets of UNR Corp., UNR Inc. and Uni Naming and Registry Ltd. (each a seller and collectively "UNR"). The purchase price was $3.0 million, less a purchase price adjustment of approximately $0.5 million relating to a working capital deficit, for net purchase consideration of $2.5 million.

Cash Consideration, including working capital adjustment		$	2,499
Total purchase price			2,499
Accounts Receivables, net			538
Other current assets			23
Technology			3,039
Total identifiable assets			3,600
Accounts payable and accrued labilities			1,101
Total liabilities assumed			1,101
Total net assets (liabilities) assumed			2,499
Total goodwill		$	-

The technology assets acquired are amortized over periods of 5 - 7 years.

(b) Simply Bits

On November 8, 2021, the Company acquired 100% of Simply Bits, LLC via an Agreement and Plan of Merger with one of our wholly owned subsidiaries. The purchase price was $25.0 million, plus a purchase price adjustment of approximately $0.8 million relating to a working capital surplus and the estimated fair value of contingent consideration, for net purchase consideration of $25.8 million. Included in the agreement was contingent consideration totaled up to $1.0 million, which was due 60 days from December 31, 2021 and was paid in 2022.

Cash Consideration, including working capital adjustment		$	24,829
Fair value of contingent payments			953
Total purchase price			25,782
Cash and Cash Equivalents			801
Accounts Receivables, net			87
Other current assets			759
Property and equipment			1,684
Right of use operating lease			1,804
Customer relationships			9,160
Total identifiable assets			14,295
Accounts payable and accrued labilities			307
Deferred tax liability			20
Operating lease liability			1,794
Other liabilities			498
Total liabilities assumed			2,619
Total net assets (liabilities) assumed			11,676
Total goodwill		$	14,106

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- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//805/tableOfContent

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- References

No definition available.

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