Quarterly report pursuant to Section 13 or 15(d)

The Company (Details)

v3.19.2
The Company (Details)
6 Months Ended
Jun. 30, 2018
USD ($)
Fair value of equity consideration, 4,685,164 common shares $ 9,792,000
Liability assumed: notes payable 158,000
Total purchase price consideration 9,950,000
Tangible assets  
Net working capital 6,664,000 [1]
Deferred revenue (2,300,000)
Fixed assets & equipment 376,000
Intangible assets  
Goodwill 3,410,000
Total allocation of purchase price consideration 9,950,000
Customer Contracts [Member]  
Intangible assets  
Business combination, recognized finite-lived intangibles 1,200,000 [2]
Trade Names [Member]  
Intangible assets  
Business combination, recognized finite-lived intangibles $ 600,000 [2]
[1] Net working capital consists of cash of $4,947,000; accounts receivable and contract assets of $3,934,000; other assets of $317,000; and accounts payable and accrued liabilities of $2,534,000.
[2] The useful lives related to the acquired customer relationships and trade name are expected to be approximately 10 years.