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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2017
Schedule of Business Acquisition Pro Forma Information

This information has been compiled from historical financial statements and is not necessarily indicative of the results that actually would have been achieved had the transaction already occurred or that may be achieved in the future.

 

(in thousands)   For the year ended
December 31, 2016		  
       
Revenues   $ 25,391  
Cost of revenues     (16,809 )
Operating expenses     (11,240 )
Other incomes (expenses)     (1,036 )
Income tax expense     -  
Net loss   $ (3,694 )
         
Net loss per common share   $ (0.86 )
Weighted average outstanding common shares – basic and diluted     4,299,315  
Schedule of Adjusted Pro Forma Expenses

In addition, the pro forma results of operations were adjusted for the following expenses:

 

(in thousands)   For the year ended
December 31, 2016		  
       
Record amortization expense of intangible assets acquired from Boxlight Group   $ 385  
Mim Holdings [Member]  
Schedule of Assets Acquired and Liabilities Assumed

Upon acquisition by the Company, these amounts were recorded on the historical cost basis of Mim Holdings.

 

Assets acquired:        
Current assets   $ 6,677,842  
Intangible assets     179,722  
Goodwill     44,931  
Total assets     6,902,495  
Total liabilities     (3,477,495 )
         
Net assets acquired   $ 3,425,000  
Boxlight Group [Member]  
Schedule of Assets Acquired and Liabilities Assumed

The following table shows the purchase price, estimated acquisition-date fair values of the assets acquired and liabilities assumed and calculation of goodwill for Boxlight Group utilizing the information at acquisition date.

 

Assets acquired:      
Current assets   $ 5,737,836  
Property and equipment     65,866  
Intangible assets     7,000,000  
Other assets     514,696  
Goodwill     4,137,060  
Total assets acquired     17,455,458  
Total liabilities assumed     (9,212,161 )
         
Net assets acquired   $ 8,243,297  
         
Consideration paid:        
Issuance of 270,000 shares of Series C preferred stock   $ 8,828,353  
Preexisting net payable to Boxlight Group     (585,056 )
         
Total   $ 8,243,297