|9 Months Ended|
Sep. 30, 2018
|Business Combinations [Abstract]|
NOTE 4. ACQUISITION
During April 2017, the Company acquired all the issued and outstanding shares of common stock of Benchmark. The acquisition was accounted for as a business combination in accordance with ASC Topic 805, “Business Combinations”. 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 period ended September 30, 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 is as follows for the period ended September 30, 2017.
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef