Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.2
Acquisitions (Tables)
9 Months Ended
Sep. 30, 2020
Verb Direct [Member]  
Schedule of Fair Value of Assets Assumed and Liabilities Acquired

The following table summarizes the assets acquired, liabilities assumed and purchase price allocation:

 

Assets Acquired:            
Other current assets   $ 2,004,000          
Property and equipment     58,000          
Other assets     1,302,000     $ 3,364,000  
Liabilities Assumed:                
Current liabilities     (2,153,000 )        
Long-term liabilities     (1,068,000 )     (3,221,000 )
Intangible assets             6,340,000  
Goodwill             16,337,000  
Purchase Price           $ 22,820,000  
Ascend Certification [Member]  
Schedule of Fair Value of Assets Assumed and Liabilities Acquired

The following table summarizes the provisional fair value of the assets assumed and liabilities acquired and the provisional purchase price allocation on the date of acquisition:

 

Assets Acquired:            
Cash   $ 229,000          
Accounts receivable     219,000     $ 448,000  
Liabilities Assumed:                
Current liabilities     (653,000 )        
Long-term liabilities     (90,000 )     (743,000 )
Intangible assets (provisional)             1,883,000  
Goodwill (provisional)             3,362,000  
Purchase Price           $ 4,950,000  
Schedule of Pro Forma Statements of Operations

The unaudited pro forma statements of operations for the nine and three months ended September 30, 2020 and 2019 give effect to the transaction to the merger as if it had occurred on January 1, 2019.

 

   

Three months

ended

September 30, 2020

   

Three months

ended

September 30, 2019

   

Nine months
ended

September 30,
2020

   

Nine months
ended

September 30,
2019

 
    (Proforma unaudited)     (Proforma unaudited)     (Proforma unaudited)     (Proforma,
unaudited)
 
SaaS recurring subscription revenue   $ 1,661,000     $ 1,201,000     $ 4,511,000     $ 3,383,000  
Other digital revenue     360,000       485,000       1,166,000       1,354,000  
Welcome kits and fulfilment     836,000       1,164,000       2,277,000       5,213,000  
Shipping     186,000       271,000       614,000       1,443,000  
Total Revenue     3,043,000       3,121,000       8,568,000       11,393,000  
                                 
Cost of revenue     1,344,000       1,548,000       3,661,000       5,951,000  
                                 
Gross margin     1,699,000       1,573,000       4,907,000       5,442,000  
                                 
Operating expenses     (9,771,000 )     (5,353,000 )     (21,615,000 )     (16,100,000 )
                                 
Other income, net     574,000       526,000       3,550,000       1,406,000  
                                 
Net loss   $ (7,498,000 )   $ (3,254,000 )   $ (13,158,000 )   $ (9,252,000 )