SCHEDULE OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES |
The
following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives in years as of
the date of acquisition:
SCHEDULE
OF COMPONENTS OF IDENTIFIABLE INTANGIBLE ASSETS ACQUIRED AND ESTIMATED USEFUL LIVES
|
|
Cost |
|
|
Amortization
through
September 30,
2022 |
|
|
Estimated
useful
life |
Identifiable
intangible assets: |
|
|
|
|
|
|
|
|
|
|
Trademarks |
|
$ |
600,000 |
|
|
$ |
— |
|
|
indefinite |
Sponsorship
agreement network |
|
|
|
|
|
|
|
years |
Search
engine optimization/content |
|
|
600,000 |
|
|
|
162,500 |
|
|
4
years |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,800,000 |
|
|
$ |
1,375,833 |
|
|
|
|
SCHEDULE OF PRELIMINARY AND FINAL ESTIMATED FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED ACQUISITION |
SCHEDULE
OF PRELIMINARY AND FINAL ESTIMATED FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED ACQUISITION
| |
As allocated | | |
Final as allocated | |
| |
Purchase
price
allocation | |
| |
As allocated | | |
Final as allocated | |
Description | |
September 30,
2021 | | |
December
31,
2021 | |
Assets acquired: | |
| | | |
| | |
Tangible assets acquired, including $51,432 of cash acquired | |
$ | 7,139,930 | | |
$ | 5,748,291 | |
Identifiable intangible assets acquired | |
| — | | |
| 6,800,000 | |
Goodwill | |
| 11,839,308 | | |
| 5,886,547 | |
Liabilities assumed | |
| (5,128,964 | ) | |
| (5,128,964 | ) |
Liabilities assumed pursuant to stock purchase agreement | |
| (5,128,964 | ) | |
| (5,128,964 | ) |
Net assets acquired and liabilities assumed | |
$ | 13,850,274 | | |
$ | 13,305,874 | |
Consideration: | |
| | | |
| | |
Cash paid at TicketSmarter Acquisition date | |
$ | 8,413,240 | | |
$ | 8,413,240 | |
Common stock issued as consideration for TicketSmarter Acquisition at date of acquisition | |
| 990,360 | | |
| 990,360 | |
Contingent consideration earn-out agreement | |
| 4,244,400 | | |
| 3,700,000 | |
Cash paid at closing to escrow amount | |
| 500,000 | | |
| 500,000 | |
Cash retained from escrow amount pursuant to settlement of working capital target | |
| (297,726 | ) | |
| (297,726 | ) |
| |
| | | |
| | |
Total TicketSmarter Acquisition purchase price | |
$ | 13,850,274 | | |
$ | 13,305,874 | |
|