| summary of business combinations |
|
|
Year Ended December 31, 2021 |
|
|
|
UMBRLA,
Inc.
|
|
|
People's
California
|
|
|
SilverStreak Solutions |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Consideration |
|
$ |
— |
|
|
$ |
24,000 |
|
|
$ |
1,500 |
|
|
$ |
25,500 |
|
Note Payable |
|
|
— |
|
|
|
33,749 |
|
|
|
4,500 |
|
|
|
38,249 |
|
Liability for Holdback Shares |
|
|
6,465 |
|
|
|
— |
|
|
|
— |
|
|
|
6,465 |
|
Equity Consideration - Common Stock |
|
|
52,929 |
|
|
|
16,000 |
|
|
|
2,500 |
|
|
|
71,429 |
|
Equity Consideration - Options & Warrants |
|
|
20,428 |
|
|
|
— |
|
|
|
— |
|
|
|
20,428 |
|
Less: Cash Transferred |
|
|
(1,290 |
) |
|
|
(994 |
) |
|
|
(25 |
) |
|
|
(2,309 |
) |
Total Consideration |
|
$ |
78,532 |
|
|
$ |
72,755 |
|
|
$ |
8,475 |
|
|
$ |
159,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets Acquired: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts Receivable |
|
$ |
3,772 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,772 |
|
Inventory |
|
|
6,532 |
|
|
|
662 |
|
|
|
214 |
|
|
|
7,408 |
|
Prepaid Expenses & Other Assets |
|
|
1,543 |
|
|
|
74 |
|
|
|
6 |
|
|
|
1,623 |
|
Notes Receivable |
|
|
750 |
|
|
|
— |
|
|
|
— |
|
|
|
750 |
|
Property, Equipment and Leasehold Improvements |
|
|
1,450 |
|
|
|
554 |
|
|
|
257 |
|
|
|
2,261 |
|
Right-of-Use Asset |
|
|
460 |
|
|
|
2,105 |
|
|
|
— |
|
|
|
2,565 |
|
Intangible Assets |
|
|
71,890 |
|
|
|
54,010 |
|
|
|
161 |
|
|
|
126,061 |
|
Other Long-Term Assets |
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
Total Assets Acquired |
|
|
86,400 |
|
|
|
57,405 |
|
|
|
638 |
|
|
|
144,443 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities Assumed: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts Payable & Accrued Liabilities |
|
|
15,849 |
|
|
|
2,586 |
|
|
|
1,517 |
|
|
|
19,952 |
|
Lease Liabilities |
|
|
460 |
|
|
|
2,105 |
|
|
|
— |
|
|
|
2,565 |
|
Notes Payable |
|
|
5,470 |
|
|
|
— |
|
|
|
— |
|
|
|
5,470 |
|
Deferred Tax Liabilities |
|
|
499 |
|
|
|
954 |
|
|
|
14 |
|
|
|
1,467 |
|
Uncertain Tax Position / Taxes Payable |
|
|
1,806 |
|
|
|
— |
|
|
|
1,553 |
|
|
|
3,359 |
|
Total Liabilities Assumed |
|
|
24,084 |
|
|
|
5,645 |
|
|
|
3,084 |
|
|
|
32,813 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated Fair Value of Net Assets Acquired |
|
|
62,316 |
|
|
|
51,760 |
|
|
|
(2,446 |
) |
|
|
111,630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated Goodwill |
|
$ |
16,216 |
|
|
$ |
20,995 |
|
|
$ |
10,921 |
|
|
$ |
48,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pro Forma Net Income (Loss) (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(36,454 |
) |
Pro Forma Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
95,867 |
|
|