Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  



2017 Acquisition


During April 2017, the Company acquired all the issued and outstanding shares of common stock of Benchmark Builders, Inc. (“Benchmark”). The acquisition was accounted for as a business combination in accordance with ASC Topic 805. Benchmark is a full-service general contracting management and general contracting firm, significantly expanding the Company’s presence in the New York area.


Unaudited Supplemental Pro Forma Information


The pro forma results presented below include the effects of the Company’s 2017 acquisition of Benchmark as if the acquisition occurred on January 1, 2017. The pro forma net loss for the three months ended March 31, 2017 includes the additional depreciation and amortization resulting from the adjustments to the value of property and equipment and intangible assets resulting from purchase accounting and elimination of transaction costs. The pro forma results also include interest expense associated with debt used to fund the acquisitions. The pro forma results do not include any anticipated synergies or other expected benefits of the acquisitions. The unaudited pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of January 1, 2017.


The unaudited pro forma combined results, which assumes the transaction was completed on January 1 are as follows for the three months ended March 31, 2017.


    Revenue     Net Loss     Loss per Share     Weighted
2017 supplemental pro forma from January 1, 2017 through March 31, 2017   $ 45,005     $ (3,205 )   $ (0.75 )     4,279,497