Verb Technology Company, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Acquisition of Verb Direct (Details Narrative)

v3.20.1

Acquisition of Verb Direct (Details Narrative) - USD ($)		12 Months Ended
	Apr. 12, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash payment of acquisition		$ 15,000,000
Estimated useful life		5 years
Amortization expense		$ 975,000
Intangible assets unamortized balance		5,365,000
Merger Agreement [Member] \| Sound Concepts, Inc. [Member]
Cash payment of acquisition	$ 15,000,000
Issuance of restricted shares	3,327,791
Issuance of shares of common stock with a fair market value	$ 7,820,000
Aggregated goodwill and intangible assets	$ 22,677,000
Amortization expense		$ 975,000
Merger Agreement [Member] \| Sound Concepts, Inc. [Member] \| Developed Technology [Member]
Estimated useful life		5 years
Amortization expense		$ 4,700,000
Intangible assets, amortization method		Amortized on an accelerated basis
Merger Agreement [Member] \| Sound Concepts, Inc. [Member] \| Customer Relationships [Member]
Estimated useful life		5 years
Amortization expense		$ 1,200,000
Intangible assets, amortization method		Amortized on an accelerated basis
Merger Agreement [Member] \| Sound Concepts, Inc. [Member] \| Domain Names [Member]
Amortization expense		$ 440,000
Intangible assets, amortization method		Tested for impairment on an annual basis

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The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

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