Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.21.2
Acquisitions (Tables)
6 Months Ended
Jun. 30, 2021
Business Acquisition [Line Items]  
Schedule of supplemental pro forma financial Information

    

Six months ended June 30,

    

2021

    

2020

Revenue

$

139,341,692

$

74,814,491

Net loss

$

(9,242,236)

$

(562,883)

Net loss per share (basic)

$

(0.64)

$

(0.05)

E4:9  
Business Acquisition [Line Items]  
Schedule of purchase consideration and the fair values of the assets and liabilities

The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows:

Recognized amounts of identifiable assets acquired and liabilities assumed

    

    

Cash

$

2,843,379

Accounts receivable

 

957,669

Mortgage loans held for sale

 

8,147,195

Derivative assets

 

89,669

Prepaid and other current assets

 

121,837

Property & equipment

 

355,887

Intangible assets

 

11,780,000

Lease right of use assets

 

1,498,085

Other long-term assets

 

7,499

Total identifiable assets acquired

 

25,801,220

Accounts payable and accrued liabilities

937,766

Escrow liabilities

 

74,890

Derivative liabilities

 

120,000

Warehouse lines of credit

 

7,958,271

Notes payable

 

485,600

Lease liability, current portion

 

337,339

Lease liability, net of current portion

 

1,160,746

Deferred tax liabilities

 

2,686,823

Total liabilities assumed

 

13,761,435

Total identifiable net assets

 

12,039,785

Goodwill

 

14,418,437

Net assets acquired

$

26,458,222

LiveBy  
Business Acquisition [Line Items]  
Schedule of purchase consideration and the fair values of the assets and liabilities

The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows:

Recognized amounts of identifiable assets acquired and liabilities assumed

    

    

Cash

$

516,082

Accounts receivable

 

138,459

Intangible assets

4,920,000

Prepaid and other current assets

 

1,671

Total identifiable assets acquired

 

5,576,212

Deferred tax liabilities

620,879

Accounts payable and accrued liabilities

 

167,249

Total liabilities assumed

 

788,128

Total identifiable net assets

 

4,788,084

Goodwill

 

4,192,667

Net assets acquired

$

8,980,751