XML 26 R22.htm IDEA: XBRL DOCUMENT v3.3.0.814
MERGER (Details)
3 Months Ended 9 Months Ended
Feb. 11, 2015
USD ($)
$ / shares
shares
Feb. 10, 2015
$ / shares
Sep. 30, 2015
USD ($)
$ / shares
shares
Sep. 30, 2014
USD ($)
$ / shares
shares
Sep. 30, 2015
USD ($)
segment
$ / shares
shares
Sep. 30, 2014
USD ($)
$ / shares
shares
Dec. 31, 2014
$ / shares
shares
Common stock, par value (in dollars per share) | $ / shares     $ 0.01   $ 0.01   $ 0.01
Common stock, shares outstanding | shares     21,571,513   21,571,513   14,216,540
Business Acquisition, Pro Forma Information              
Shares used in calculation of earnings per share | shares     21,571,513 21,262,566 21,521,707 21,306,724  
Pro forma total revenues     $ 62,498,000 $ 88,665,000 $ 193,165,000 $ 286,635,000  
Pro forma net loss     $ (2,870,000) $ (6,556,000) $ (25,316,000) $ (7,533,000)  
Pro forma net loss per share              
Basic | $ / shares     $ (0.13) $ (0.31) $ (1.18) $ (0.35)  
Diluted | $ / shares     $ (0.13) $ (0.31) $ (1.18) $ (0.35)  
Minimum              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Useful lives         5 months    
Maximum              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Useful lives         5 years    
Legacy TGC              
Common stock, par value (in dollars per share) | $ / shares $ 0.33 $ 0.01          
Reverse stock split ratio   0.33          
Common stock, shares outstanding | shares 7,333,708            
Split-effected Common Stock | shares 1.760            
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Stock consideration $ 42,902,000            
Interest bearing debt assumed 12,048,000            
Debt-free current liabilities 12,647,000            
Total purchase price consideration including liabilities assumed 67,597,000            
Current assets excluding cash and cash equivalents 16,156,000            
Cash and cash equivalents 12,382,000            
Total current assets 28,538,000            
Fair value of property, plant and equipment 28,812,000            
Total identified tangible assets 28,812,000            
Identified intangible assets 3,353,000            
Net deferred tax asset 6,894,000            
Total indicated value of assets $ 67,597,000            
Closing price per share | $ / shares $ 5.85            
Accrued taxes $ 750,000            
Pre-tax merger-related costs         $ 2,885,000    
Severance and compensation arrangements         $ 1,198,000    
Number of operating segments | segment         1    
Legacy TGC | Minimum              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Property, Plant and Equipment, Useful Life 2 years            
Legacy TGC | Maximum              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Property, Plant and Equipment, Useful Life 15 years            
Legacy TGC | Trademarks/trade names              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Identified intangible assets $ 1,063,000            
Legacy TGC | Customer relationships              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Identified intangible assets $ 1,799,000            
Useful lives 5 years            
Gross carrying value     $ 1,799,000   $ 1,799,000    
Accumulated Amortization     206,000   206,000    
Legacy TGC | Backlog              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Identified intangible assets $ 491,000            
Gross carrying value     491,000   491,000    
Accumulated Amortization     $ 491,000   $ 491,000    
Legacy TGC | Backlog | Weighted Average              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities              
Useful lives 5 months