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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations |
Schedule of fair value of consideration paid |
Cash consideration |  | $ | 4,750,000 |
Net working capital escrow adjustment |  |  |  |
to consideration paid |  |  | (61,172 | )
Fair value of vested warrants issued at closing date |  |  | 170,000 |
Fair value of contingent consideration payable (cash) |  |  | 1,597,000 |
Fair value of contingent consideration payable (warrants) |  |  | 698,000 |
Fair value of consideration paid |  | $ | 7,153,828 |
Schedule of allocation of aggregate purchase consideration fair value assets and liabilities |
Fair value of identifiable assets acquired |  |  |
and liabilities assumed: |  |  |
Trade receivables |  | $ | 871,028 |
Unbilled receivables |  |  | 145,707 |
Other current assets |  |  | 63,262 |
Customer relationships |  |  | 2,392,000 |
Tradename |  |  | 1,040,000 |
Accounts payable and accrued expenses |  |  | (875,290 | )
Deferred revenue |  |  | (15,878 | )
Total identifiable net assets acquired |  |  | 3,620,829 |
Goodwill |  |  | 3,532,999 |
Total purchase price |  | $ | 7,153,828 |
Schedule of unaudited pro forma |
|  | YEARS ENDED |
|  | DECEMBER 31, |
|  | 2021 |  |  | 2020 |
|  | (a) |  |  | (a) |
Revenues |  | $ | 94,839,000 |  |  | $ | 193,283,000 |
Net Income |  |  | 848,000 |  |  |  | 11,755,000 |

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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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=123413009&loc=d3e4845-128472 + Details
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