Annual report pursuant to Section 13 and 15(d)

Note 5 - Acquisitions - Estimated Net Deferred Tax Liability (Details)

v3.23.1
Note 5 - Acquisitions - Estimated Net Deferred Tax Liability (Details) - USD ($)
Aug. 24, 2021
Jun. 01, 2021
Identifiable intangible assets $ 0  
Intangible assets acquired 0  
Estimated net operating loss carryforwards – Mobcrush   $ 0
Estimated net operating loss carryforwards – Mobcrush   0
Mobcrush Acquisition [Member]    
Identifiable intangible assets   19,500,000
Intangible assets acquired   19,500,000
Intangible assets acquired tax basis   2,635,000
Intangible assets acquired difference   (16,865,000)
Property and equipment   13,000
Estimated net operating loss carryforwards – Mobcrush   5,895,000
Tangible assets acquired   (13,000)
Net deferred tax liability – pretax   (10,983,000)
Estimated net operating loss carryforwards – Mobcrush   $ 5,895,000
Estimated tax rate   27.98%
Estimated net deferred tax liability   $ (3,073,000)
Bannerfy Acquisition [Member]    
Identifiable intangible assets 2,512,000  
Intangible assets acquired 2,512,000  
Intangible assets acquired difference (2,512,000)  
Estimated net operating loss carryforwards – Mobcrush 144,000  
Net deferred tax liability – pretax (2,368,000)  
Estimated net operating loss carryforwards – Mobcrush $ 144,000  
Estimated tax rate 23.48%  
Estimated net deferred tax liability [1] $ (556,000)  
[1] Pursuant to ASC 740, the deferred tax liability is estimated using the following formula: (a) Applicable tax rate divided by (b) one minus the applicable tax rate, multiplied by (c) the tax basis of the net assets acquired less the initial book basis of the net assets acquired.