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v3.22.2

Note 2 - Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2022
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
Cash consideration |  | $ | 17,851 |
Accounts receivable |  | $ | 13,418 |
Workers' compensation deposit |  |  | 7,200 |
Franchise agreements |  |  | 11,034 |
Customer lists |  |  | 1,690 |
Other current assets |  |  | 100 |
Workers' compensation claims liability |  |  | (4,891 | )
Accrued payroll |  |  | (2,100 | )
Current liabilities |  |  | (740 | )
Other liabilities |  |  | (2,239 | )
Bargain purchase |  |  | (5,621 | )
Purchase price allocation |  | $ | 17,851 |
Cash consideration |  | $ | 6,707 |
Net working capital payable |  |  | 336 |
Total consideration |  | $ | 7,043 |
Customer lists |  | $ | 4,000 |
Accounts receivable |  |  | 2,668 |
Goodwill |  |  | 375 |
Purchase price allocation |  | $ | 7,043 |
Cash consideration |  | $ | 2,100 |
Note payable & net working capital payable |  |  | 362 |
Total consideration |  | $ | 2,462 |
Customer relationships |  | $ | 1,600 |
Customer lists |  |  | 200 |
Accounts receivable |  |  | 462 |
Goodwill |  |  | 200 |
Purchase price allocation |  | $ | 2,462 |
Cash consideration |  | $ | 9,858 |
Note payable |  |  | 1,500 |
Total consideration |  | $ | 11,358 |
Customer relationships |  | $ | 7,700 |
Trade name |  |  | 1,400 |
Accounts receivable |  |  | 3,331 |
Other current assets |  |  | 94 |
Goodwill |  |  | 500 |
Current liabilities assumed |  |  | (1,667 | )
Purchase price allocation |  | $ | 11,358 |
Cash consideration |  | $ | 11,123 |
Franchise agreements |  |  | 10,886 |
Notes receivable |  |  | 237 |
Purchase price allocation |  | $ | 11,123 |
Cash consideration |  | $ | 3,283 |
Liabilities assumed |  |  | 1,044 |
Transaction costs |  |  | 23 |
Total consideration |  | $ | 4,350 |
Purchased software |  |  | 3,200 |
Domain name |  |  | 2,226 |
Deferred tax liability |  |  | (1,076 | )
Purchase price allocation |  | $ | 4,350 |
Cash consideration |  | $ | 1,480 |
Contingent consideration |  |  | 382 |
Total consideration |  | $ | 1,862 |
Customer lists |  | $ | 1,862 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Total revenue |  | $ | 9,288 |  |  | $ | 5,706 |  |  | $ | 17,433 |  |  | $ | 9,920 |
Net income |  |  | 4,891 |  |  |  | 2,856 |  |  |  | 5,494 |  |  |  | 3,853 |
Basic earnings per share |  | $ | 0.36 |  |  | $ | 0.21 |  |  | $ | 0.40 |  |  | $ | 0.28 |
Basic weighted average shares outstanding |  |  | 13,607 |  |  |  | 13,611 |  |  |  | 13,591 |  |  |  | 13,607 |
Diluted earnings per share |  | $ | 0.36 |  |  | $ | 0.21 |  |  | $ | 0.40 |  |  | $ | 0.28 |
Diluted weighted average shares outstanding |  |  | 13,691 |  |  |  | 13,864 |  |  |  | 13,686 |  |  |  | 13,834 |
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Total revenue |  | $ | 9,288 |  |  | $ | 5,984 |  |  | $ | 17,431 |  |  | $ | 9,665 |
Net income |  |  | 4,590 |  |  |  | 2,916 |  |  |  | 6,237 |  |  |  | 6,854 |
Basic earnings per share |  | $ | 0.34 |  |  | $ | 0.21 |  |  | $ | 0.46 |  |  | $ | 0.50 |
Basic weighted average shares outstanding |  |  | 13,607 |  |  |  | 13,611 |  |  |  | 13,591 |  |  |  | 13,607 |
Diluted earnings per share |  | $ | 0.34 |  |  | $ | 0.21 |  |  | $ | 0.46 |  |  | $ | 0.50 |
Diluted weighted average shares outstanding |  |  | 13,691 |  |  |  | 13,864 |  |  |  | 13,686 |  |  |  | 13,834 |
These calculations reflect increased amortization expense, increased SG&A expense, the elimination of losses associated with the transaction, and the consequential tax effects that would have resulted had the acquisition closed on January 1, 2021.
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Total revenue |  | $ | 9,288 |  |  | $ | 7,407 |  |  | $ | 17,785 |  |  | $ | 10,564 |
Net income |  |  | 4,386 |  |  |  | 3,738 |  |  |  | 5,466 |  |  |  | 6,953 |
Basic earnings per share |  | $ | 0.32 |  |  | $ | 0.27 |  |  | $ | 0.40 |  |  | $ | 0.51 |
Basic weighted average shares outstanding |  |  | 13,607 |  |  |  | 13,611 |  |  |  | 13,591 |  |  |  | 13,607 |
Diluted earnings per share |  | $ | 0.32 |  |  | $ | 0.27 |  |  | $ | 0.40 |  |  | $ | 0.50 |
Diluted weighted average shares outstanding |  |  | 13,691 |  |  |  | 13,864 |  |  |  | 13,686 |  |  |  | 13,834 |
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Total revenue |  | $ | 9,288 |  |  | $ | 5,972 |  |  | $ | 17,621 |  |  | $ | 9,573 |
Net income |  |  | 4,579 |  |  |  | 2,918 |  |  |  | 6,547 |  |  |  | 6,806 |
Basic earnings per share |  | $ | 0.34 |  |  | $ | 0.21 |  |  | $ | 0.48 |  |  | $ | 0.50 |
Basic weighted average shares outstanding |  |  | 13,607 |  |  |  | 13,611 |  |  |  | 13,591 |  |  |  | 13,607 |
Diluted earnings per share |  | $ | 0.34 |  |  | $ | 0.21 |  |  | $ | 0.48 |  |  | $ | 0.49 |
Diluted weighted average shares outstanding |  |  | 13,691 |  |  |  | 13,864 |  |  |  | 13,686 |  |  |  | 13,834 |
Disposal Groups, Including Discontinued Operations [Table Text Block] |
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2022 |  |  | June 30, 2022 |
Revenue |  | $ | 426 |  |  | $ | 580 |
Cost of staffing services |  |  | 248 |  |  |  | 330 |
Gross profit |  |  | 178 |  |  |  | 250 |
SG&A |  |  | 1 |  |  |  | 14 |
Net income before tax |  |  | 177 |  |  |  | 236 |
Provision for income taxes |  |  | 43 |  |  |  | 57 |
Net income |  | $ | 134 |  |  | $ | 179 |

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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