XML 31 R19.htm IDEA: XBRL DOCUMENT

Acquisition of iNewswire.com LLC (Tables)

3 Months Ended

Mar. 31, 2023

Acquisition of iNewswire.com LLC

Schedule of fair value consideration transferred for the Acquisition

Consideration transferred:
Cash payment		$	18,000
Secured promissory note			22,000
Shares of Issuer Direct common stock based on closing market price prior to the Acquisition			3,892
Net working capital adjustment and other costs paid on behalf of Seller, net of cash			(350	)
Total consideration transferred		$	43,542

Preliminary allocation of tangible and intangible assets and liabilities:
Goodwill		$	16,122
Trademarks/Tradename			27,500
Technology			2,520
Customer relationships			580
Net liabilities assumed			(3,180	)
Total amount allocated		$	43,542

Net liabilities assumed:
Cash		$	37
Accounts Receivable			90
Other Current Assets			14
Accounts Payable			(645	)
Accrued Expenses			(226	)
Deferred Revenue			(1,775	)
Deferred tax liability			(675	)
		$	(3,180	)

Schedule of of the results of operations

in $000’s, except per share amounts
		March 31, 2022
Revenues		$	8,750
Net income			665
Basic earnings per share			0.17
Diluted earnings per share			0.17