v3.26.1
BUSINESS COMBINATION (Tables) - Titan Tools Group Limited
 6 Months Ended
Jun. 30, 2026
Business Combination [Line Items]  
Summary of Consideration for Merger The consideration for the acquisition of $10.8 million is comprised of the following items (in thousands):

 

Cash paid to Titan shareholders

$

6,002

 

Titan transaction costs to be paid by DTI

 

175

 

Closing date equity consideration (1)

 

2,922

 

Effective settlement of preexisting relationship between DTI and Titan (2)

 

1,675

 

Fair value of consideration transferred

$

10,774

 

 

(1) Represents the value, as of the Titan Closing Date, of the DTI common stock transferred as purchase consideration.

 

(2) Represents the effective settlement of DTI’s accounts receivable from Titan and DTI’s accounts payable to Titan as Titan and DTI were customers of each other prior to the Titan Closing.
Summary of Final Allocation of the Purchase

The final allocation of the purchase price is as follows (in thousands):

Assets acquired:

 

 

Cash

$

559

 

Accounts receivable

 

3,670

 

Inventory

 

658

 

Other current assets

 

93

 

Property, plant and equipment

 

3,927

 

Operating lease right-of-use asset

 

919

 

Intangible assets

 

2,657

 

Total assets acquired

 

12,484

 

Liabilities assumed:

 

 

Accounts payable

 

1,090

 

Operating lease liabilities, current

 

226

 

Other current liabilities

 

1,965

 

Operating lease liabilities, less current portion

 

694

 

Deferred tax liabilities, net

 

71

 

Total liabilities assumed

 

4,045

 

Total identifiable net assets

 

8,439

 

Goodwill

 

2,335

 

Total net assets acquired and goodwill

$

10,774

 
Summary of Identified Intangible Assets, Estimated Useful Lives and Methodologies Used to Determine Fair Values

The following table sets forth the amounts allocated to the identified intangible assets, the estimated useful lives of those intangible assets as of the Titan Closing Date, and the methodologies used to determine the fair values of those intangible assets (in thousands):

 

 

 

 

 

Fair value

 

Useful life
(in years)

Fair value methodology

Customer relationship

 

 

 

 

$

2,657

 

25

Multi-period Excess Earnings Method

Total intangible assets

 

 

 

 

$

2,657