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Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of acquisitions

The following table summarizes the final fair values assigned to the assets and liabilities acquired in addition to the excess of the purchase price over the net assets acquired at the acquisition date. Measurement period adjustments were completed in 2018 and reflect new information obtained about facts and circumstances that existed as of the Acquisition Date. Accordingly, the carrying amounts were retrospectively adjusted as of May 16, 2018. The impact of the retrospective adjustments was not material to the Company’s results of operations or cash flows for the period from the Acquisition Date through December 31, 2018. 

Sow Organic, LLC:		May 16, 2018 (as reported)				Adjustments				May 16, 2018 (as adjusted)
Software acquired		$	445,000				(289,000	)		$	156,000
Identifiable intangible assets:			143,754				(143,754	)			—
Tradenames and trademarks			—				48,000				48,000
Non-compete agreements			—				84,000				84,000
Customer relationships			—				162,000				162,000
Goodwill			294,377				138,754				433,131
Total consideration		$	883,131							$	883,131

The following table summarizes the final fair values assigned to the assets and liabilities acquired in addition to the excess of the purchase price over the net assets acquired at the acquisition date. Measurement period adjustments were completed in 2018 and reflect new information obtained about facts and circumstances that existed as of the Acquisition Date. Accordingly, the carrying amounts were retrospectively adjusted as of August 30, 2018. The impact of the retrospective adjustments was not material to the Company’s results of operations or cash flows for the period from the Acquisition Date through December 31, 2018. 

JVF Consulting, LLC:		August 30, 2018				Adjustments				August 30, 2018 (as adjusted)
Software acquired		$	250,000				(43,000	)		$	207,000
Identifiable intangible assets:
Tradenames and trademarks			5,290				81,710				87,000
Non-compete agreements			10,000				27,000				37,000
Customer relationships			100,000				4,000				104,000
Goodwill			450,000				(69,710	)			380,290
Total consideration		$	815,290							$	815,290

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- References

No definition available.

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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=116869197&loc=d3e4845-128472

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