Registration of securities issued in business combination transactions

Note 8 - Business Combinations (Tables)

v3.24.0.1
Note 8 - Business Combinations (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
   

Useful
Lives
(years)

   

Amounts

 

Valuation Methodology

Cash

          $ 20,235    

Fixed assets

            8,902    

Intangible assets with estimated useful lives:

           

Technology

    5       2,900,000  

Replacement cost and relief from royalty

Customer relationships

    6       3,860,000  

Multi-period excess earnings

Goodwill

            4,560,099    

Total assets acquired

            11,349,236    

Current liabilities

            (344,136 )  

Net assets acquired

          $ 11,005,100    
   

Useful
Lives
(years)

   

Amounts

 

Valuation Methodology

Cash

          $ 81,473    

Accounts receivable

            611,471    

Other current assets

            6,338    

Intangible assets with estimated useful lives:

           

Customer relationships

    8       1,090,000  

Replacement cost and relief from royalty

Non-compete agreements

    3       120,000  

Multi-period excess earnings

Intangible assets with indefinite lives:

                 

Trade names

            280,000    

Goodwill

            785,000    

Total assets acquired

            2,974,282    

Current liabilities

            (458,925 )  

Net assets acquired

          $ 2,515,357    
Business Acquisition, Pro Forma Information [Table Text Block]
   

2022

   

2021

 

Revenues

  $ 12,022,952     $ 16,789,286  

Net loss

  $ (17,753,838 )   $ (3,012,182 )
Gray Matters [Member]  
Notes Tables  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Net cash consideration

  $ 7,240,100  

Buyer common stock

    1,500,000  

Fair value of deferred consideration

    1,335,000  

Fair value of contingent consideration

    930,000  

Total

  $ 11,005,100