Quarterly report pursuant to Section 13 or 15(d)

Merger (Tables)

v3.22.2
Merger (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase price
       
Purchase price:        
Cash paid to the seller   $ 6,149,343  
Total purchase price     6,149,343  
         
Tangible Assets Acquired:        
Cash     212,068  
Accounts Receivable     1,389,263  
Prepaid Expenses     127,574  
Fixed Assets     4,986  
Website and Digital Assets     33,002  
Security Deposits     22,500  
Total Tangible Assets Acquired     1,789,393  
         
Tangible Liabilities Assumed:        
Accounts Payable and Accrued Expenses     514,354  
Deferred Revenue     68,736  
Deferred Tax Liability     399,631  
PPP Loan Payable     307,300  
Total Tangible Liabilities Assumed     1,290,021  
         
Net Tangible Assets Acquired     499,372  
         
Excess Purchase Price   $ 5,649,971  
Schedule of allocation of the excess purchase price
       
Customer Relationships   $ 1,870,000  
Trade Names     235,000  
Assembled Workforce     287,000  
Goodwill     3,257,971  
         
Excess Purchase Price   $ 5,649,971  
Schedule of unaudited pro-forma
       
    Three Months Ended
    June 30,
2021
Revenues   $ 7,759,779  
Net income attributable to common shareholders   $ 1,288,367  
Net income per share   $ 0.41  
Weighted average number of shares outstanding     3,751,825  

  

         
    Six Months Ended
    June 30,
2021
Revenues   $ 14,270,565  
Net income attributable to common shareholders   $ 1,202,704  
Net income per share   $ 0.32  
Weighted average number of shares outstanding    

3,751,825