| Purchase Price Allocations |
The allocation of the purchase price to assets and liabilities based upon fair value determinations was as follows:
|
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
11,088
|
|
Accounts receivable, net
|
|
|
718
|
|
Inventory
|
|
|
-
|
|
Other assets
|
|
|
2,617
|
|
Fixed assets
|
|
|
4,407
|
|
Intangible assets
|
|
|
20,300
|
|
Goodwill
|
|
|
1,129,493
|
|
Total assets acquired
|
|
|
1,168,623
|
|
Liabilities assumed
|
|
|
(458,123)
|
|
Net assets acquired
|
|
$
|
710,500
|
The purchase price consists of the following:
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
|
$
|
710,500
|
|
Total purchase price
|
|
$
|
710,500
|
|
| Pro Forma Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mobivity Holdings Corp.
|
|
Unaudited Pro Forma Condensed Consolidated Statement of Operations
|
|
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mobivity
|
|
Livelenz
|
|
Pro forma
adjustments
|
|
|
Pro forma
combined
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
|
1,845,240
|
|
$
|
4,300
|
|
$
|
-
|
|
|
$
|
1,849,540
|
|
Cost of revenues
|
|
|
404,940
|
|
|
120
|
|
|
-
|
|
|
|
405,060
|
|
Gross margin
|
|
|
1,440,300
|
|
|
4,180
|
|
|
-
|
|
|
|
1,444,480
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative
|
|
|
1,062,953
|
|
|
20,071
|
|
|
-
|
|
|
|
1,083,024
|
|
Sales and marketing
|
|
|
1,248,412
|
|
|
7,087
|
|
|
-
|
|
|
|
1,255,499
|
|
Engineering, research, and development
|
|
|
349,098
|
|
|
-
|
|
|
-
|
|
|
|
349,098
|
|
Depreciation and amortization
|
|
|
146,388
|
|
|
76
|
|
|
-
|
|
|
|
146,464
|
|
Total operating expenses
|
|
|
2,806,851
|
|
|
27,234
|
|
|
-
|
|
|
|
2,834,085
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
(1,366,551)
|
|
|
(23,054)
|
|
|
-
|
|
|
|
(1,389,605)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income/(expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
368
|
|
|
-
|
|
|
-
|
|
|
|
368
|
|
Interest expense
|
|
|
(7,593)
|
|
|
(3,452)
|
|
|
-
|
|
|
|
(11,045)
|
|
Foreign Currency Gain/(Loss)
|
|
|
14,550
|
|
|
-
|
|
|
-
|
|
|
|
14,550
|
|
Total other income/(expense)
|
|
|
7,325
|
|
|
(3,452)
|
|
|
-
|
|
|
|
3,873
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes
|
|
|
(1,359,226)
|
|
|
(26,506)
|
|
|
-
|
|
|
|
(1,385,732)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(1,359,226)
|
|
$
|
(26,506)
|
|
$
|
-
|
|
|
$
|
(1,385,732)
|
|
Other comprehensive loss, net of income tax
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments
|
|
|
(63,219)
|
|
|
-
|
|
|
-
|
|
|
|
(63,219)
|
|
Comprehensive loss
|
|
$
|
(1,422,445)
|
|
$
|
(26,506)
|
|
$
|
-
|
|
|
$
|
(1,448,951)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share - basic and diluted
|
|
$
|
(0.05)
|
|
|
|
|
|
|
|
|
$
|
(0.05)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares
during the period - basic and diluted
|
|
|
29,778,439
|
|
|
|
|
|
|
|
|
|
29,778,439
|
|