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Acquisition of iNewswirecom LLC (Tables)

6 Months Ended

Jun. 30, 2023

Acquisition of iNewswirecom 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/Tradenames			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
		Three months ended June 30, 2022				Six months ended June 30, 2022
Revenues		$	8,893			$	17,643
Net income			437				1,102
Basic earnings per share			0.11				0.28
Diluted earnings per share			0.11				0.28