Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.8.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Summary of Consideration for Acquisition of Benchmark

The following table summarizes the consideration transferred for the acquisition of Benchmark:

 

Cash consideration   $ 17,250  
Shares of common stock     21,658  
Series A notes*     11,263  
Series B notes*     24,574  
Less: Receivable from Benchmark     (500 )
Merger consideration   $ 74,245  

 

*: Series A and B notes were recorded at fair value.
Schedule of Preliminary Purchase Price Allocation

The following table summarizes the acquisition date fair value of the purchase price allocation assigned to each major class of assets acquired and liabilities assumed as of April 20, 2017, the closing date for Benchmark:

 

ASSETS ACQUIRED        
Cash   $ 2,416  
Accounts receivable     14,625  
Other current assets     10,272  
Property and equipment     47  
Total identifiable assets acquired     27,360  
Fair value of intangible assets acquired:        
Contracts in progress     10,632  
Trademarks and tradenames     2,749  
Customer relationships     22,743  
Non-compete     548  
Total fair value of intangible assets acquired     36,672  
         
Goodwill     35,672  
Total Assets Acquired     99,704  
         
LIABILITIES ASSUMED        
Accounts payable     15,393  
Accrued expenses and other current liabilities     10,066  
Total Liabilities Assumed     25,459  
         
Total consideration transferred   $ 74,245

Schedule of Business Acquisition Pro Forma Information

The unaudited pro forma combined results, which assumes the transaction was completed on January 1 are as follows for the twelve months ended December 31, 2017 and 2016:

 

    Revenue     Net Loss     Loss per Share     Weighted
Average
Shares 		 
2017 supplemental pro forma from January 1, 2017 through December 31, 2017   $ 285,498     $ (9,063 )     (1.89 )     4,973,910  
2016 supplemental pro forma from January 1, 2016 through December 31, 2016   $ 317,068     $ (2,634 )     (2.37 )     6,237,689