XML 45 R36.htm IDEA: XBRL DOCUMENT v3.23.1
BUSINESS COMBINATIONS (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of preliminary allocation
     
   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 
Schedule of assets acquired and liabilities assumed
     
   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 
Schedule of pro forma consolidated results of operations
          
   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)