Quarterly report [Sections 13 or 15(d)]

Note 10 - Business Combinations (Tables)

v3.25.3
Note 10 - Business Combinations (Tables)
9 Months Ended
Sep. 30, 2025
Notes Tables  
Business Combination [Table Text Block]
   

(in thousands)

 
   

Coastal Pine Group

   

EWCR

   

Green Door Redding

 

Equity Consideration - Common Stock

  $ 1,264     $ 316     $ 914  

Put Option

    3,480       —       327  

Note Payable

    1,874       457       —  

Cash Consideration

    —       800       —  

Earnout Provision

    —       4       —  

Non-Controlling Interest

    —       —       347  

Total Consideration

  $ 6,618     $ 1,577     $ 1,588  
                         

Assets Acquired:

                       

Cash

    959       29       137  

Accounts Receivable

    85       —       1  

Inventory

    524       364       166  

Prepaid Expenses & Other Current Assets

    112       11       —  

Property, Equipment and Leasehold Improvements

    470       162       295  

Right-of-Use Asset - Operating Leases

    1,694       —       1,351  

Intangible Assets

    3,100       3,600       2,010  

Other Assets

    —       86       —  

Total Assets Acquired

    6,944       4,252       3,960  
                         

Liabilities Assumed:

                       

Accounts Payable & Accrued Liabilities

    3,877       4,548       752  

Operating Lease Liabilities

    2,077       —       804  

Notes Payable

    307       457       4  

Income Taxes Payable

    9,632       7,527       740  

Accrued Income Taxes

    —       2,014       957  

Deferred Tax Liabilities

    1,549       319       178  

Total Liabilities Assumed

    17,442       14,865       3,435  
                         

Fair Value of Net Assets (Liabilities) Acquired

    (10,498 )     (10,613 )     525  
                         

Goodwill

  $ 17,116     $ 12,190     $ 1,063  
Business Combination, Pro Forma Information [Table Text Block]
   

(in thousands)

 
   

Three Months Ended September 30,

   

Nine Months Ended September 30,

 
   

2025

   

2024

   

2025

   

2024

 

Pro Forma Revenue

  $ 4,847     $ 8,815     $ 17,358     $ 27,424  

Pro Forma Net Income (Loss)

  $ (2,559 )   $ (3,940 )   $ (5,320 )   $ 15,236