Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v2.4.1.9
Acquisitions (Tables) (Smart Reciept [Member])
 12 Months Ended
Dec. 31, 2014
Smart Reciept [Member]
  
Purchase price allocations

 

SmartReceipt

 

 

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  

 

 

   

Front Door Insights

 

 

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  

 

 

 

Sequence (Stampt)

 

 

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

 
Pro Form information

 

SmartReceipt

Mobivity Holdings Corp.

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the year ended December 31, 2014

 

                         
    Mobivity     SR     Pro forma adjustments     Pro forma combined  
Revenues                        
Revenues   $ 4,000,202     $ 214,139     $ -     $ 4,214,341  
Cost of revenues     1,066,917       54,410       -       1,121,327  
Gross margin     2,933,285       159,729       -       3,093,014  
                                 
Operating expenses                                
General and administrative     4,270,844       231,084       4,230 (a)     4,506,158  
Sales and marketing     3,895,033       60,077       -       3,955,110  
Engineering, research, and development     1,346,198       139,649       -       1,485,847  
Depreciation and amortization     416,436       403       -       416,839  
  Goodwill impairment     4,078,693       -       -       4,078,693  
  Intangible asset impairment     961,436       -       -       961,436  
Total operating expenses     14,968,640       431,213       4,230       15,404,083  
                                 
Loss from operations     (12,035,355 )     (271,484 )     (4,230 )     (12,311,069 )
                                 
Other income/(expense)                                
Interest income     2,131       -       -       2,131  
Change in fair value of derivative liabilities     63,517       -       -       63,517  
  Gain on debt extinguishment     36,943         -         -       36,943  
  Gain on adjustment of contingent consideration     1,492,000       -       -       1,492,000  
Total other income/(expense)     1,594,591       -       -       1,594,591  
                                 
Loss before income taxes     (10,440,764 )     (271,484 )     (4,230 )     (10,716,478 )
                                 
Income tax expense     -       -       -       -  
                                 
Net loss   $ (10,440,764 )   $ (271,484 )   $ (4,230 )   $ (10,716,478 )
                                 
Net loss per share - basic and diluted   $ (0.49 )                   $ (0.52 )
                                 
Weighted average number of shares during the period - basic and diluted     21,203,563                       20,796,889  

 

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  
Loss 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  

 

 

Front Door Insights

 

 

    (Unaudited)
    Year ended December 31,
    2013  
Total revenues   $ 4,255,947  
Net loss   $ (17,120,236 )
Basic and diluted loss per share   $ (1.55 )