XML 68 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Business Combinations (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Business Combinations [Abstract]    
Summary of estimated fair market values of the assets acquired and liabilities
Consideration    
Consideration issued  $12,500,000 
Identified assets and liabilities     
Cash   42,711 
Accounts and other receivables   480,302 
Note receivable   174,967 
Prepaid expenses   84,945 
Long-term assets   348,367 
Property and equipment   106,600 
Accounts payable   (180,231)
Accrued Expenses   (105,877)
Merchant portfolios   2,190,000 
Tradename   2,500,000 
Total identified assets and liabilities   5,641,784 
      
Excess purchase price allocated to goodwill  $6,858,216 

Consideration    
Consideration issued  $12,500,000 
Identified assets and liabilities     
Cash   42,711 
Accounts and other receivables   480,302 
Note receivable   174,967 
Prepaid expenses   84,945 
Long-term assets   348,367 
Property and equipment   106,600 
Accounts payable   (180,231)
Accrued Expenses   (105,877)
Merchant portfolios   2,190,000 
Tradename   2,500,000 
Total identified assets and liabilities   5,641,784 
      
Excess purchase price allocated to goodwill  $6,858,216 
Schedule of unaudited pro forma results of operations
    Nine Months
Ended
September 30,
2018
Revenues   $ 9,456,512  
Operating loss   $ (126,145 )
Other expense     (801,321 )
Net loss   $ (927,466 )
Net loss per share – basic and diluted   $ (0.20 )
   2018   2017 
Revenues  $12,194,415   $15,091,707 
Operating loss  $(124,442)  $(3,023,848)
Net loss (revised)  $(1,290,262)  $(6,979,090)
Net loss per share – basic and diluted (revised)  $(0.24)  $(1.34)