XML 41 R25.htm IDEA: XBRL DOCUMENT v3.21.1

2. Acquisitions (Tables)

12 Months Ended

Dec. 31, 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

Pro forma information

		Year ended
		December 31, 2020				December 31, 2019
Royalty revenue		$	12,792,793			$	16,176,219
Net income			5,359,414				5,090,045
Basic earnings per share		$	0.40			$	0.38
Basic weighted average shares outstanding			13,542,403				13,294,201
Diluted earnings per share		$	0.39			$	0.38
Diluted weighted average shares outstanding			13,654,128				13,294,736

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

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration