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2. Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Identifiable assets acquired and liabilities assumed

Closing share price on July 15, 2019		$	5.76
Common stock			4,677,487
Stock consideration		$	26,942,325
Accounts receivable		$	10,480,907
Cash and cash equivalents			5,376,543
Identifiable intangible assets			17,015,857
Other current assets			725,453
Property, plant and equipment, net			281,186
Right-of-use asset			1,642,695
Current liabilities			(3,124,081	)
Lease liabilities			(1,624,461	)
Deferred tax liability			(2,930,947	)
Other liabilities			(900,827	)
Purchase price allocation		$	26,942,325

Proforma information

		Three months ended								Nine months ended
		September 30, 2020				September 29, 2019				September 30, 2020				September 29, 2019
Royalty revenue		$	3,218,606			$	3,139,158			$	9,563,135			$	9,276,714
Net income			1,971,133				504,651				4,003,313				3,515,142
Basic earnings per share		$	0.15			$	0.04			$	0.30			$	0.27
Basic weighted average shares outstanding			13,573,086				13,238,818				13,551,507				13,281,839
Diluted earnings per share		$	0.15			$	0.04			$	0.30			$	0.27
Diluted weighted average shares outstanding			13,574,863				13,248,615				13,553,619				13,289,045

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- 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=121647850&loc=d3e4845-128472

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