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v3.21.2

Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2021
Acquisitions |
Identifiable assets acquired and liabilities assumed |
Cash |  | $ | 17,850,627 |
Accounts receivable |  | $ | 12,540,122 |
Workers' compensation deposit |  |  | 7,200,000 |
Franchise agreements |  |  | 11,034,000 |
Customer lists |  |  | 1,690,000 |
Other current assets |  |  | 100,578 |
Workers' compensation claims liability |  |  | (4,890,930 | )
Accrued payroll |  |  | (2,100,000 | )
Current liabilities |  |  | (740,163 | )
Other liabilities |  |  | (2,021,833 | )
Bargain purchase |  |  | (4,961,147 | )
Purchase price allocation |  | $ | 17,850,627 |
Proforma information |
|  | Three months ended |  |  | Nine months ended |
|  | September 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |
Royalty revenue |  | $ | 6,540,125 |  |  | $ | 4,107,668 |  |  | $ | 16,060,138 |  |  | $ | 12,396,954 |
Net income |  |  | 3,192,570 |  |  |  | 2,409,593 |  |  |  | 7,045,183 |  |  |  | 5,433,066 |
Basic earnings per share |  | $ | 0.24 |  |  | $ | 0.18 |  |  | $ | 0.52 |  |  | $ | 0.40 |
Basic weighted average shares outstanding |  |  | 13,482,303 |  |  |  | 13,573,086 |  |  |  | 13,461,252 |  |  |  | 13,551,507 |
Diluted earnings per share |  | $ | 0.24 |  |  | $ | 0.18 |  |  | $ | 0.52 |  |  | $ | 0.40 |
Diluted weighted average shares outstanding |  |  | 13,621,938 |  |  |  | 13,574,863 |  |  |  | 13,587,585 |  |  |  | 13,553,619 |
Estimated fair value |
Cash |  | $ | 11,122,911 |
Franchise agreements |  |  | 10,886,178 |
Notes receivable |  |  | 236,733 |
Purchase price allocation |  | $ | 11,122,911 |

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- 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
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