• Filing Date: 2018-11-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
ACQUISITION (Tables)
9 Months Ended
Sep. 30, 2018
Acquisition  
Purchase price allocation

Secure Education Consultants Acquisition

  

Cash paid   $ 99,197  
Common stock issued     163,332  
Warrants issued, at $5.44     65,988  
Warrants issued, at $6.53     57,484  
Total consideration     386,001  
Less intangible and intellectual property     (386,001 )
Net goodwill recorded   $ -  

 

BC Management Acquisition

  

Cash paid   $ 100,000  
Common stock issued     163,332  
Warrants issued, at $5.44     65,988  
Warrants issued, at $6.53     57,484  
Total consideration     386,804  
Less intangible and intellectual property     (386,804 )
Net goodwill recorded   $ -  

 

Global Acquisition 

 

Assets acquired   $ 4,384,668  
Liabilities acquired     (4,384,417 )
Net assets acquired     251  
Less intangible assets     2,574,000  
Consideration paid (see below)     4,264,934  
Net goodwill recorded   $ 1,690,683  
         
Cash consideration   $ 550,000  
Cash paid towards acquired liabilities     540,037  
Total cash paid     1,090,037  
Holdback consideration     200,000  
Common stock consideration     566,288  
Series B Preferred Stock consideration     2,408,610  
Total acquisition consideration   $ 4,264,934  

 

Brekford Acquisition

 

Common stock issued   $ 5,851,193  
Total consideration     5,851,193  
Less cash received     (1,943,778 )
Less note receivable     (2,000,000 )
Less other assets     (1,139,007 )
Less intangible assets     (558,412 )
Plus liabilities assumed     1,191,937  
Net goodwill recorded   $ 1,401,933  

 

Firestorm Acquisition

  

Cash paid   $ 500,000  
Notes payable issued     907,407  
Common stock issued     976,286  
Warrants issued, at $2.58     125,411  
Warrants issued, at $3.61     102,289  
Total consideration     2,611,393  
Less cash received     (82,296 )
Less other assets     (137,457 )
Less intangible and intellectual property     (2,497,686 )
Plus liabilities assumed     106,046  
Net goodwill recorded   $ -  

Pro-forma financial information
    For the three months ended September 30,     For the nine months ended September 30,  
    2018     2017     2018     2017  
Revenues   $ 13,148,848     $ 10,674,716     $ 36,705,781     $ 31,824,716  
Net income (loss)   $ (503,834 )   $ (1,002,345 )   $ (3,618,967 )   $ (3,061,031 )
Basic earnings (loss) per share   $ (0.05 )   $ (0.09 )   $ (0.31 )   $ (0.27 )
Diluted earnings (loss) per share   $ (0.05 )   $ (0.09 )   $ (0.31 )   $ (0.27 )
                                 
Basic Number of Shares     14,542,362       14,323,018       14,524,030       13,592,532  
Diluted Number of Shares     14,542,362       14,323,018       14,524,030       13,592,532