Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v2.4.0.8
Acquisitions (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Smart Receipt [Member]
    
Purchase price allocations

The allocation of the purchase price to assets and liabilities based upon fair value determinations was as follows:

 

Accounts receivable, net   $ 161,664  
Other assets     6,620  
Customer relationships     2,010,000  
Developed technology     260,000  
Trade name     176,000  
Goodwill     2,890,801  
  Total assets acquired     5,505,085  
Liabilities assumed     (191,561 )
  Net assets acquired   $ 5,313,524  

 

The purchase price consists of the following:

 

Cash   $ 2,368,019  
Earn Out     2,273,000  
Common stock     672,505  
        Total purchase price   $ 5,313,524  

 

  
Pro Form information
Mobivity Holdings Corp.
Unaudited Pro Forma Condensed Consolidated Statement of Operations
For the nine months ended September 30, 2014
                         
    Mobivity     SR     Pro forma adjustments     Pro forma combined  
Revenues                        
Revenues   $ 3,057,360     $ 214,139     $ -     $ 3,271,499  
Cost of revenues     791,486       54,410       -       845,896  
Gross margin     2,265,874       159,729       -       2,425,603  
                                 
Operating expenses                                
General and administrative     2,900,711       231,084       4,230 (a)     3,136,025  
Sales and marketing     2,723,979       60,077       -       2,784,056  
Engineering, research, and development     1,026,120       139,649       -       1,165,769  
Depreciation and amortization     300,273       403       -       300,676  
Total operating expenses     6,951,083       431,213       4,230       7,386,526  
                                 
Loss from operations     (4,685,209 )     (271,484 )     (4,230 )     (4,960,923 )
                                 
Other income/(expense)                                
Interest income     2,034       -       -       2,034  
Interest expense     (2,563 )     -       -       (2,563 )
Change in fair value of derivative liabilities     55,438       -       -       55,438  
Total other income/(expense)     54,909       -       -       54,909  
                                 
Loss before income taxes     (4,630,300 )     (271,484 )     (4,230 )     (4,906,014 )
                                 
Income tax expense     (1,678 )     -       -       (1,678 )
                                 
Net loss   $ (4,631,978 )   $ (271,484 )   $ (4,230 )   $ (4,907,692 )
                                 
Net loss per share - basic and diluted   $ (0.22 )                   $ (0.24 )
                                 
Weighted average number of shares during the period - basic and diluted     20,672,880                       20,299,303  
Mobivity Holdings Corp.
Unaudited Pro Forma Condensed Consolidated Statement of Operations
For the year ended December 31, 2013
                         
    Mobivity     SR     Pro forma adjustments     Pro forma combined  
Revenues                        
Revenues   $ 4,093,667     $ 834,250     $ -     $ 4,927,917  
Cost of revenues     1,122,037       243,209       -       1,365,246  
Gross margin     2,971,630       591,041       -       3,562,671  
                                 
Operating expenses                                
General and administrative     3,416,850       211,271       446,094  (a)     4,074,215  
Sales and marketing     3,469,383       339,615       -       3,808,998  
Engineering, research, and development     824,653       644,330       -       1,468,983  
Depreciation and amortization     270,579       3,970       -       274,549  
Goodwill impairment     1,066,068       -       -       1,066,068  
Intangible asset impairment     644,170       -       -       644,170  
Total operating expenses     9,691,703       1,199,186       446,094       11,336,983  
Loss from operations     (6,720,073 )     (608,145 )     (446,094 )     (7,774,312 )
                                 
Other income/(expense)                                
Interest income     747       -       -       747  
Interest expense     (6,348,186 )     (117,944 )     -       (6,466,130 )
Change in fair value of derivative liabilities     (3,766,231 )     -       -       (3,766,231 )
Gain on Debt Extinguishment     103,177       -       -       103,177  
Gain on adjustment in contingent consideration     (28,465 )     -       -       (28,465 )
Total other income/(expense)     (10,038,958 )     (117,944 )     -       (10,156,902 )
                                 
Loss before income taxes     (16,759,031 )     (726,089 )     (446,094 )     (17,931,214 )
                                 
Income tax expense     -       -       -       -  
                                 
Net loss   $ (16,759,031 )   $ (726,089 )   $ (446,094 )   $ (17,931,214 )
                                 
Net loss per share - basic and diluted   $ (1.58 )                   $ (1.61 )
                                 
Weighted average number of shares during the period - basic and diluted     10,612,007                       11,116,891  
Sequence [Member]
    
Purchase price allocations

The allocation of the purchase price to the assets acquired based upon fair value determinations was as follows:

 

Merchant relationships   $ 181,000  
Trade name     76,000  
Developed technology     71,000  
Goodwill     379,750  
  Total assets acquired   $ 707,750  

 

The purchase price consisted of the following:

 

Cash   $ 300,000  
Common stock     183,750  
Earn-out payable     224,000  
Total purchase price   $ 707,750  

 

  
Front Door [Member]
    
Purchase price allocations

The allocation of the purchase price to assets and liabilities based upon fair value determinations was as follows:

 

Cash   $ 5,500  
Accounts receivable     27,467  
Contracts     813,000  
Customer relationships     22,000  
Developed technology     96,000  
Non-compete agreement     124,000  
Goodwill     1,535,658  
  Total assets acquired     2,623,625  
Liabilities assumed     (46,219 )
  Net assets acquired   $ 2,577,406  

 

The purchase price consists of the following:

 

Cash   $ 100,000  
Promissory note, net     1,365,096  
Common stock     1,112,310  
        Total purchase price   $ 2,577,406