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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 25, 2022
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The acquisition has been allocated to the assets acquired and liabilities assumed as of the date of acquisition as follows:
Accounts receivable |  | $ | 345,121 |
Prepaid expenses and other assets |  | 3,626 |
Property and equipment, net |  | 5,101 |
Intangible assets |  | 3,347,970 |
Goodwill |  | 2,089,823 |
Liabilities assumed | (73,708) |
Total net assets acquired |  | $ | 5,717,933 |
Cash |  | $ | 3,780,000 |
Working capital adjustment |  | 11,210 |
Fair value of contingent consideration |  | 1,926,723 |
Total fair value of consideration transferred for acquired business |  | $ | 5,717,933 |
The allocation of the intangible assets is as follows:
|  | Estimated Fair Value |  | Estimated Useful Lives
Covenants not to compete |  | $ | 37,800 |  |  | 5 years
Trade name |  | 1,420,000 |  |  | Indefinite
Client partner list |  | 1,890,170 |  |  | 10 years
Total |  | $ | 3,347,970 |  |  |
Business Acquisition, Pro Forma Information | The Company estimates what would have been reported if the revenues and net income from continuing operations of the Momentum acquisition had taken place on the first day of Fiscal 2021, with no impact on thirteen week period ended September 26, 2021 (dollars in thousands, except per share amounts):
|  |  |  |  | Thirty-nine Weeks Ended
|  |  |  |  | September 26, 2021
Revenues |  |  |  |  | $ | 171,569 |
Gross profit |  |  |  |  | $ | 57,675 |
Net Income |  |  |  |  | $ | 6,108 |
Income per share: |  |  |  |  |
Basic |  |  |  |  | $ | 0.59 |
Diluted |  |  |  |  | $ | 0.59 |

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- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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