Acquisition of Conductive Transfers |
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Acquisition of Conductive Transfers | Note 3 – Acquisition of Conductive Transfers On December 20, 2024, we acquired substantially all of the operating assets of Conductive Transfers Limited and its affiliate Global Print Solutions Limited (collectively, “Conductive Transfers”), England-based designers and manufacturers of wearables and smart textiles, conductive ink, and other printed electronics. This acquisition was effected pursuant to an Asset Sale Agreement (the “Asset Purchase Agreement”) by and among the Company’s wholly owned United Kingdom subsidiary, Conductive Transfers International Limited, and Conductive Transfers. Under the terms of the Asset Purchase Agreement, the purchase price was GB£250,000 (approximately $314,000) which was paid to the sellers in cash on the acquisition date. The following table summarizes the fair values of the assets acquired at the acquisition date (in thousands).
The following represents pro forma consolidated statement of operations information as if Conductive Transfers had been included in our consolidated results for the three - and six - month periods ended June 30, 2025 and 2024 (unaudited):
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