BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

The following table summarizes the purchase price allocation for the acquisition (dollars in thousands).

The following table summarizes the purchase price allocation for the acquisition (dollars in thousands).

Cash	7,500
Promissory note	2,000
Stock (issuance of 305,473 shares of common stock) (a)	974
Total purchase price	10,474
			Amortization
			Period
Purchase price allocation:
Accounts receivable, net	836
Prepaid expenses	5
Developed Technology	3,120			6 years
Trade Names/Trademarks	1,096			13 years
Customer Relationships	1,923			10 years
Non-Compete Agreement	41			1 year
Property and Equipment, net	193
Goodwill	4,092
Accounts payable and other accrued expenses	(832	)
	10,474

^(a)Stock issued was calculated based on the 15 days prior to April 22, 2022, volume-weighted average price (“VWAP”) calculated at $3.2736

The below table summarizes proforma financial information for the Company, and the acquired PeriShip business, assuming the acquisition date of Periship occurred on January 1, 2021 (dollars in thousands):

The below table summarizes proforma financial information for the Company, and the acquired PeriShip business, assuming the acquisition date of Periship occurred on January 1, 2021 (dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
Description	2022			2021			2022			2021
Revenues	$	5,343		$	4,806		$	10,479		$	12,178
Net loss	$	(12,499	)	$	(456	)	$	(13,847	)	$	(1,457	)