Annual report pursuant to Section 13 and 15(d)

Note 5 - Acquisitions (Tables)

v3.22.1
Note 5 - Acquisitions (Tables)
12 Months Ended
Dec. 31, 2021
Notes Tables  
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

Equity Consideration at closing – shares of common stock

  $ 12,067,571  

Super League closing stock price per share on the Mobcrush Closing Date

  $ 4.96  

Fair value of common stock issued

  $ 59,855,000  

Cash consideration at closing

          $ 3,000,000  

Equity consideration at closing – shares of common stock

    1,031,928          

Super League closing stock price per share on the Bloxbiz Closing Date

  $ 2.91          

Fair value of equity consideration issued at closing

  $ 3,000,000       3,000,000  

Fair value of total consideration issued at closing

          $ 6,000,000  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
   

Amount

 

Assets Acquired and Liabilities Assumed:

       

Cash

  $ 586,000  

Accounts receivable

    1,266,000  

Prepaids

    141,000  

Property and equipment

    13,000  

Identifiable intangible assets

    19,500,000  

Accounts payable and accrued expenses

    (2,017,000

)

Deferred revenue

    (130,000

)

Net deferred income tax liability

    (3,073,000

)

Identifiable net assets acquired

    16,286,000  

Goodwill

    43,569,000  

Total purchase price

  $ 59,855,000  
   

Amount

 

Assets Acquired and Liabilities Assumed:

       

Accounts receivable

  $ 124,000  

Identifiable intangible assets

    1,747,000  

Identifiable net assets acquired

    1,871,000  

Goodwill

    4,129,000  

Total purchase price

  $ 6,000,000  
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]
   

Estimated Useful Life (in years)

   

Amount

 

Preferred partner relationship

    7       10,700,000  

Developed technology

    5       3,900,000  

Influencers/content creators

    5       2,000,000  

Advertiser and agency relationships

    5       1,900,000  

Trademarks

    7       500,000  

Customer relationships

    5       500,000  

Total intangible assets acquired

          $ 19,500,000  
   

Estimated Useful Life (in years)

   

Amount

 

Developed technology

    7     $ 912,000  

Developer relationships

    3       559,000  

Customer relationships

    3       276,000  

Total intangible assets acquired

          $ 1,747,000  
Business Acquisition, Estimate Deferred Tax Liabilities [Table Text Block]
   

Book Basis

   

Tax Basis

   

Difference

 

Intangible assets acquired

  $ 19,500,000     $ 2,635,000     $ (16,865,000

)

Tangible assets acquired

    13,000               (13,000

)

Estimated net operating loss carryforwards – Mobcrush

    -       5,895,000       5,895,000  

Net deferred tax liability – pretax

                    (10,983,000

)

Estimated tax rate

                    27.98

%

Estimated net deferred tax liability

                  $ (3,073,000

)

   

Book Basis

   

Tax Basis

   

Difference

 

Intangible assets acquired

  $ 2,512,000     $ -     $ (2,512,000

)

Estimated net operating loss carryforwards – Bannerfy

            144,000       144,000  

Net deferred tax liability – pretax

                    (2,368,000

)

Estimated tax rate

                    19

%

Estimated net deferred tax liability – Pursuant to ASC 740(1)

                  $ (556,000

)

Business Acquisition, Pro Forma Information [Table Text Block]
   

2021

   

2020

 
                 

Revenue

  $ 14,976 ,000     $ 8,591,000  

Net Loss

    (26,363,000

)

    (29,077,000

)