Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of recognized identified assets acquired and liabilities assumed
Fair value of equity consideration, 506,423 common shares   $ 9,792,000  
Liability assumed: notes payable     158,000  
Total purchase price consideration   $ 9,950,000  
         
Tangible assets        
Net working capital (1)   $ 6,664,000  
Deferred revenue     (2,300,000 )
Property and equipment     376,000  
         
Intangible assets (2)        
Customer contracts     1,200,000  
Trade name     600,000  
Goodwill     3,410,000  
         
Total allocation of purchase price consideration   $ 9,950,000  
Schedule of antidilutive securities excluded from computation of earnings per share
    As of December 31,  
    2019     2018  
Common stock equivalents:            
Common stock options     380,396       302,773  
Series A, H-1, H-3, H-4, H-5, I, J, K and Merger common stock purchase warrants     4,300,560       863,084  
Series H, H-3, H-4, H-5 Convertible Preferred Stock     3,900,354       1,796,251  
Restricted shares (unvested)     -       244,643  
Totals     8,581,310       3,206,751