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Acquisition of 3dent Technologies, LLC (Tables)

12 Months Ended

Apr. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Fair Value Consideration Paid on Acquisition

The fair value of common stock issued by the Company in connection with the 3Dent acquisition was as follows (in thousands):

Fair value of base purchase price		$	1,452
Less discount for lack of marketability			(290	)
Adjusted fair value			1,162

Schedule of Fair Value of Net Assets Acquired

The following table summarizes the fair value of the net assets acquired (in thousands):

Cash		$	100
Accounts receivable			94
Prepaid expenses			5
Right of use asset			95
Fixed assets			20
Identifiable intangibles			280
Accounts payable and accrued expenses			(21	)
Lease liability			(96	)
Total net assets acquired, excluding goodwill		$	477

Schedule of Fair Value of Indetifiable Intangible Assets Acquired

The acquisition date fair values of identifiable intangible assets acquired are as follows (in thousands):

Trade name		$	130
Customer relationships			150
Fair value of identifiable intangibles assets		$	280

Schedule of Consolidated Statement of Operations of Acquisition

The amounts of revenue and net loss of 3Dent included in the Company’s Consolidated Statement of Operations from the date of acquisition to April 30, 2021 were as follows (in thousands):

Revenue		$	35
Net loss			(463	)

Schedule of Pro Forma Financial Information

The following unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved as if the acquisition had taken place as of May 1, 2019.

		Twelve months ended April 30,
		2021				2020
Revenue		$	1,600			$	2,772
Net loss			(14,915	)			(10,406	)
Basic and diluted net loss per share		$	(0.50	)		$	(1.44	)

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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.

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