XML 46 R23.htm IDEA: XBRL DOCUMENT v3.23.2

Business Combinations (Tables)

6 Months Ended

Jun. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The purchase price has been preliminarily allocated to assets acquired and liabilities assumed based on the estimated fair value of such assets and liabilities at the date of acquisitions as follows:

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

Assets acquired:
Accounts receivable		$	68,380
Prepaid expenses			38,913
Property and equipment			30,018
Intangible assets (see Note 5)			3,888,000
Assets			4,025,311
Liabilities assumed:
Accounts payable			36,446
Deferred revenue			1,072,530
Liabilities			1,108,976
Total identifiable net assets			2,916,335
Purchase price			6,383,269
Goodwill - Excess of purchase price over fair value of net assets acquired		$	3,466,934

Schedule of Pro Forma Information

The following unaudited pro forma information presents a summary of the condensed consolidated results of operations for the Company as if the acquisition of Yellow Folder had occurred on January 1, 2022.

Schedule of Pro Forma Information

		June 30, 2023				June 30, 2022
		For the three months ended
		(unaudited)				(unaudited)
		June 30, 2023				June 30, 2022
Total revenues		$	4,258,430			$	3,415,643
Net income (loss)		$	135,734			$	(374,167	)
Basic and diluted net income (loss) per share		$	0.03			$	(0.09	)
Basic net income (loss) per share		$	0.03			$	(0.09	)

		June 30, 2023				June 30, 2022
		For the six months ended
		(unaudited)				(unaudited)
		June 30, 2023				June 30, 2022
Total revenues		$	8,445,263			$	6,897,007
Net (loss) income		$	248,297			$	(359,777	)
Basic and diluted net income (loss) per share		$	0.06			$	(0.09	)
Basic net income (loss) per share		$	0.06			$	(0.09	)

		For the				For the
		three months ended				six months ended
		June 30, 2023				June 30, 2023
Yellow Folder:
Total revenues		$	864,331			$	1,738,893
Net income		$	85,408			$	271,111

		For the three months ended June 30, 2022				For the six months ended June 30, 2022
Yellow Folder:
Total revenues		$	790,368			$	790,368
Net income		$	196,559			$	196,559
Net income (loss)		$	196,559			$	196,559

 

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration