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Note 4 - PistolStar, Inc. Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2020
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
Purchase consideration: |  |  |  |
Total cash paid, net of acquired cash |  | $ | 2,000,000 |
4% Promissory note, net of discount of $36,000 |  |  | 464,000 |
Working capital adjustment |  |  | (108,000 | )
Total purchase price consideration |  | $ | 2,356,000 |
Fair value of assets acquired and liabilities assumed: |  |  |  |
Cash and cash equivalents |  | $ | 100,747 |
Accounts receivable |  |  | 184,792 |
Prepaid expenses and other current assets |  |  | 9,485 |
Fixed assets |  |  | 36,467 |
Intangible assets |  |  | 1,480,000 |
Goodwill |  |  | 1,154,526 |
Total assets acquired |  |  | 2,966,017 |
Accrued expenses and other current liabilities |  |  | 738 |
Accrued payroll |  |  | 19,279 |
Deferred revenue |  |  | 590,000 |
Total fair value of assets acquired and liabilities assumed |  | $ | 2,356,000 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] |
|  | Amount |  |  | Estimated useful life (in years) |
Trade Name |  | $ | 130,000 |  |  |  | 15 |  |
Proprietary Software |  |  | 420,000 |  |  |  | 5 |  |
Customer relationships |  |  | 930,000 |  |  | 8 | - | 10 |
Total identifiable intangible assets |  | $ | 1,480,000 |  |  |  |  |  |

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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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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