Annual report pursuant to Section 13 and 15(d)

5. Acquisitions (Tables)

v3.3.1.900
5. Acquisitions (Tables)
12 Months Ended
Dec. 31, 2015
Acquisitions Tables  
Purchase price allocated to the fair value of the net assets

Fidelity

 

Cash   $ 503,059  
Accounts receivable, net     273,809  
Prepaids     44,735  
Property and equipment     1,111,699  
Covenant not to compete     618,000  
Customer contracts     19,243,000  
Accrued liabilities     (692,606 )
Deferred tax liability     (7,710,536 )
Goodwill     16,502,971  
Total purchase price   $ 29,894,133  

 

RootAxcess

 

Covenant not to compete   $ 232,943  
Customer contracts/relationships     747,381  
Fixed assets acquired     59,810  
Goodwill     159,866  
Purchase price   $ 1,200,000  

 

PingTone

 

Cash   $ 826,035  
Accounts receivable, net     273,948  
Other current assets     141,256  
Property and equipment     481,111  
Other assets     60,941  
Deferred tax asset     1,688,011  
Intangible assets subject to amortization     4,211,300  
Goodwill     5,175,372  
Current liabilities     (496,417 )
Deferred tax liability     (1,688,011 )
Other liabilities     (28,724 )
Total purchase price   $ 10,644,822  

Pro forma financial information

Fidelity

 

    2015  
Revenues   $ 119.2  
Net loss   $ (6.9 )

 

PingTone

 

    2014
Revenues   $ 98.9  
Net loss   $ (3.1)