Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.10.0.1
Acquisitions (Tables) - Antenna Plus
9 Months Ended
Sep. 30, 2018
Business Acquisition [Line Items]  
Summary of Allocation of Purchase Price for Acquired Identifiable Assets, Liabilities Assumed and Goodwill

The following table shows the allocation of the purchase price for Antenna Plus to the acquired identifiable assets, liabilities assumed and goodwill:

 

Consideration:

 

 

 

 

Cash

 

$

6,383,500

 

Working capital adjustments

 

 

(34,770

)

Fair value of total consideration transferred

 

$

6,348,730

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

 

 

 

Accounts receivable

 

$

584,390

 

Inventory

 

 

432,770

 

Fixed assets

 

 

402,958

 

Intangible assets

 

 

2,600,000

 

Current liabilities

 

 

(121,879

)

Total identifiable net assets acquired

 

 

3,898,239

 

Goodwill

 

 

2,450,491

 

Total

 

$

6,348,730

 

 

Summary of Unaudited Pro Forma Information

The following unaudited pro forma financial information presents combined results of operations for each of the periods presented, as if Antenna Plus had been acquired as of the beginning of the fiscal year 2017.  The pro forma information includes adjustments to amortization and depreciation for intangible assets and property, plant and equipment acquired.  The pro forma data are for informational purposes only and are not necessarily indicative of the consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of fiscal year 2017 or of the results of future operations of the combined business.  Consequently, actual results will differ from the unaudited pro forma information presented below:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2017

 

Pro forma sales

 

$

12,448,436

 

 

$

38,982,040

 

Pro forma income from operations

 

$

200,632

 

 

$

1,047,435

 

Pro forma net income

 

$

234,353

 

 

$

1,097,806