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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Fair Values of the Assets Acquired and Liabilities Assumed | The following table summarizes the allocation of the purchase price to the fair values of the assets acquired and the liabilities assumed as of the transaction date:
Consideration paid |  | $ | 1,356,908 |
Tangible assets acquired: |  |  |  |
Cash |  |  | 65,037 |
Accounts receivable, net |  |  | 80,289 |
Vehicle |  |  | 58,693 |
Total tangible assets |  | $ | 204,019 |
Assumed liabilities: |  |  |  |
Line of credit |  |  | 33,705 |
Accrued expenses |  |  | 117,742 |
Loan payable |  |  | 50,896 |
Other liabilities |  |  | 1,128 |
Total assumed liabilities |  |  | 203.471 |
Net assets acquired |  |  | 548 |
Goodwill (a.)(b.) |  | $ | 1,356,360 |
a. Goodwill is the excess of the purchase price over the fair value of the underlying net tangible and identifiable intangible assets. In accordance with applicable accounting standards, goodwill is not amortized but instead is tested for impairment at least annually or more frequently if certain indicators are present. Goodwill and intangibles are not deductible for tax purposes. b. Goodwill represents expected synergies from the merger of operations and intangible assets that do not qualify for separate recognition. Cerberus and Techville are both cybersecurity service providers. The acquisition of Techville provided Cerberus potential sales synergies resulting from Cerberus’ access to Techville’s current client-base to offer additional services. Goodwill also represents Techville’s customer list as well as Mr. Yelm’s two-year non-compete clause, which the Company is currently unable to assign a fair value. These items will be assigned a fair value upon the completion of the third-party valuation.

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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=121647850&loc=d3e4845-128472 + Details
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