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ACQUISITIONS (Tables)

12 Months Ended

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

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

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-Publisher FASB
-Name Accounting Standards Codification
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