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CXApp Acquisition (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

CXApp Acquisition (Tables) [Line Items]

Schedule of Purchase Price

The following table represents the purchase price (in thousands).

Cash		$	22,132
Stock (117,994 common stock shares at $84.75 per share)			10,000
Total Purchase Price		$	32,132

Schedule of Purchase Price Allocations Relating to the Acquisition

The following table summarizes certain assets and liabilities of discontinued operations:

		As of December 31, 2022
Current Assets of Discontinued Operations
Cash and cash equivalents		$	10,000
Accounts receivable			1,338
Prepaid expenses and other current assets			923
Current Assets of Discontinued Operations		$	12,261

Long Term Assets of Discontinued Operations
Property and equipment, net		$	202
Operating Lease Right-of-Use Asset, net			681
Software development costs, net			487
Intangible assets, net			19,289
Other Assets			52
Long Term Assets of Discontinued Operations		$	20,711
Current Liabilities of Discontinued Operations
Accounts payable		$	1,054
Accrued liabilities			1,736
Operating lease obligation, current			266
Deferred revenue			2,162
Current Liabilities of Discontinued Operations		$	5,218

Long Term Liabilities of Discontinued Operations
Operating lease obligation, noncurrent		$	444
Other Liabilities, noncurrent			28
Long Term Liabilities of Discontinued Operations		$	472

		Fair Value Allocation
Assets acquired:
Cash and cash equivalents		$	109
Accounts receivable			110
Prepaid expenses and other current assets			135
Inventory			844
Right of use asset			312
Property, plant, and equipment			30
Other assets			113
Tradename & trademarks			168
Proprietary technology			507
Customer relationships			197
Goodwill			482
Total assets acquired		$	3,007

Liabilities assumed:
Accounts payable			2
Accrued liabilities			413
Lease liabilities – current			54
Lease liabilities – noncurrent			231
Payable to new parent			391
Deferred revenue			784
Total liabilities assumed			1,875
Estimated fair value of net assets acquired:		$	1,132

Schedule of Acquisition-Related Costs for the Acquisition

Total acquisition-related costs for the Acquisition incurred during the year ended December 31, 2021, was $209,036, and is included in selling, general and administrative expense in the Company’s consolidated statements of operations. The following table details the acquisition related costs for the Acquisition:

Accounting fees		$	10
Legal fees			199
Total acquisition costs		$	209

Series of Individually Immaterial Business Acquisitions [Member]

CXApp Acquisition (Tables) [Line Items]

Schedule of Acquisition Liability

The following represents the amounts that were recorded to Acquisition Liability (in thousands):

		Acquisition Liability
Current
Option payout		$	296
Bonus payout			34
Seller transaction expenses			72
Miscellaneous accrued expenses			174
Total current		$	576

Noncurrent
Option payout		$	493
Bonus payout			57
Holdback funds			4,875
Total noncurrent			5,425
			6,001
Less adjustment to holdback funds due to measurement period adjustment			(209	)
Less payments made during the year ended December 31, 2021			(460	)
Less payments made during the year ended December 31, 2022			(5,135	)
Total acquisition liability		$	197

Schedule of Purchase Price Allocations Relating to the Acquisition

The following table summarizes the purchase price allocations relating to the Acquisition (in thousands):

		Fair Value Allocation
Assets acquired:
Cash and cash equivalents		$	1,153
Trade and other receivables			1,626
Prepaid expenses and other current assets			68
Property, plant, and equipment			6
Tradename			2,170
Developed technology			8,350
Customer relationships			5,020
Non-compete agreements			2,690
Goodwill			15,306
Total assets acquired		$	36,389

Liabilities assumed:
Accounts payable		$	203
Deferred revenue			1,319
Accrued expenses and other liabilities			116
Deferred tax liability			2,591
Other tax liability, noncurrent			28
Total liabilities assumed			4,257
Estimated fair value of net assets acquired:		$	32,132

Schedule of Acquisition-Related Costs for the Acquisition

The below table details the acquisition-related costs for the Acquisition (in thousands):

Accounting fees		$	115
Legal fees			389
Total acquisition costs		$	504