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BUSINESS COMBINATIONS (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
The following table presents the final allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values.

The following table presents the final allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values.

 

   Preliminary
allocation		 
 Total purchase consideration  $20,706,000 
 Fair value of non-controlling interest   6,706,000 
 Total consideration   $27,412,000 
      
 Identifiable net liabilities assumed:     
 Cash  $1,245,000 
 Prepaid expenses and other current assets   55,000 
 Property and equipment   5,057,000 
 Note receivable   800,000 
 Accounts payable and accrued expenses   (6,935,000)
 Convertible notes payable, principal   (9,734,000)
 Fair value of embedded derivative   (1,226,000)

Fair value of bifurcated conversion option

   

(4,425,000

)

Fair value of bifurcated put option

   

(200,000

)
 Net liabilities assumed   (15,363,000)
 Goodwill  $42,775,000 
The following table presents the preliminary allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values.

The following table presents the preliminary allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values.

 

   Preliminary
Allocation		 
 Total purchase consideration  $10,517,000 
 Fair value of non-controlling interest   10,336,000 
 Total consideration  $20,853,000 
      
 Identifiable net assets acquired:     
 Cash  $2,278,000 
 Accounts receivable   9,891,000 
 Prepaid expenses and other current assets   673,000 
 Inventories   12,840,000 
 Property and equipment, net   529,000 
 Right-of-use assets   1,073,000 
 Other assets   83,000 
 Intangible assets:     
 Trade names-estimated useful life of 19 years   2,470,000 
 Customer relationships-estimated useful life of 16 years   1,380,000 
 Proprietary technology-estimated useful life of 3 years   600,000 
Accounts payable and accrued expenses   (10,052,000)
 Notes payable   (2,972,000)
 Lease liabilities   (1,124,000)
 Net assets acquired   17,669,000 
 Goodwill  $3,184,000 
The following unaudited pro forma consolidated results of operations for the three and six months ended June 30, 2022 have been prepared as if the SMC acquisition had occurred on January 1, 2022.

The following unaudited pro forma consolidated results of operations for the three and six months ended June 30, 2022 have been prepared as if the SMC acquisition had occurred on January 1, 2022.

 

   Three Months Ended   Six Months Ended 
   June 30, 2022   June 30, 2022 
 Total revenues  $29,058,000   $64,717,000 
 Net loss attributable to BitNile Holdings, Inc.  $(26,206,000)  $(56,531,000)