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Note C - PistolStar, Inc. Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

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
Present value of 4% Promissory note			464,000
Total purchase price consideration		$	2,464,000
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			1,262,526
Total assets acquired			3,074,017
Accrued expenses and other current liabilities			738
Accrued payroll			19,279
Deferred revenue			590,000
Total fair value of assets acquired and liabilities assumed		$	2,464,000

Finite-Lived and Indefinite-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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Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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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

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-Name Accounting Standards Codification
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-Section 50
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