Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.3.0.814
Acquisitions (Tables)
9 Months Ended
Sep. 30, 2015
Acquisitions [Abstract]  
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 Forma 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 

 

Pro Forma Adjustments

 

The following pro forma adjustments are based upon the value of the tangible and intangible assets acquired as determined by an independent valuation firm.

 

(a)

Represents stock based compensation in conjunction with the transaction.