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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 30, 2018
Zycron, Inc. |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
Accounts receivable |  | $ | 4,345,312 |
Prepaid expenses and other assets |  | 82,122 |
Property and equipment |  | 128,431 |
Intangible assets |  | 13,818,475 |
Goodwill |  | 7,037,271 |
Liabilities assumed |  | (2,997,027 | )
Total net assets acquired |  | $ | 22,414,584 |
Cash |  | $ | 18,500,000 |
Hold back |  | 500,000 |
Common stock |  | 1,000,000 |
Working capital adjustment |  | (177,469 | )
Fair value of contingent consideration |  | 2,592,053 |
Total fair value of consideration transferred for acquired business |  | $ | 22,414,584 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The allocation of the intangible assets is as follows:
|  | Estimated Fair Value |  | Estimated Useful Lives
Covenants not to compete |  | $ | 475,000 |  |  | 5 years
Trade name |  | 5,006,000 |  |  | Indefinite
Client partner list |  | 8,337,475 |  |  | 10 years
Total |  | $ | 13,818,475 |  |  |
Technology Services, Inc., Vision Technology Services, LLC, and VTS-VM |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
Accounts receivable |  | $ | 1,228,614 |
Prepaid expenses and other assets |  | 38,150 |
Property and equipment |  | 38,270 |
Intangible assets |  | 4,903,602 |
Goodwill |  | 1,748,119 |
Liabilities assumed |  | (144,906 | )
Total net assets acquired |  | $ | 7,811,849 |
Cash |  | $ | 6,000,000 |
Working capital adjustment |  | 51,212 |
Fair value of contingent consideration |  | 1,760,637 |
Total fair value of consideration transferred for acquired business |  | $ | 7,811,849 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The allocation of the intangible assets is as follows:
|  | Estimated Fair Value |  | Estimated Useful Lives
Covenants not to compete |  | $ | 20,000 |  |  | 5 years
Client partner list |  | 4,883,602 |  |  | 10 years
Total |  | $ | 4,903,602 |  |  |
D&W Talent, LLC, Technology Services, Inc., Vision Technology Services, LLC, and VTS-VM |
Business Acquisition, Pro Forma Information | The Company estimates that the revenues and net income for the period below that would have been reported if the Zycron and Smart acquisitions had taken place on the first day of Fiscal 2017 would be as follows (dollars in thousands, except per share amounts):
|  | 2017
Revenues |  | $ | 290,359 |
Gross profit |  | $ | 73,647 |
Net income |  | $ | 6,117 |
Income per share: |  |  |
Basic |  | $ | 0.70 |
Diluted |  | $ | 0.68 |

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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=84161108&loc=d3e4845-128472 + Details
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