Acquisitions, Dispositions and Other Transactions (Tables)

3 Months Ended

Mar. 31, 2014

Uppercase Living

Acquisitions, Dispositions and Other Transactions

Summary of fair value of acquiree as of the acquisition date

Opening balance sheet for Uppercase Living acquisition on March 14, 2014

The following summary represents the fair value of UAI as of the acquisition date and is subject to change following management's final evaluation of the fair value assumptions.

	UAI
Assets
Current assets:
Cash and cash equivalents	$	2,000
Accounts receivable		1,742
Inventory		96,497
Total current assets		100,239
Property, plant and equipment		23,230
Goodwill		469,065
Other assets		16,366
Total assets	$	608,900
Liabilities and stockholders' equity
Current liabilities:
Accounts payable—trade	$	267,337
Accrued commissions		79,003
Deferred revenue		28,399
Other current liabilities		96,706
Total current liabilities		471,445
Other long-term liabilities		137,455
Total liabilities		608,900
Stockholders' equity		—
Total stockholders' equity		—
Total liabilities and stockholders' equity	$	608,900

TLC

Acquisitions, Dispositions and Other Transactions

Summary of fair value of acquiree as of the acquisition date

Opening balance sheets for The Longaberger Company acquisition on March 18, 2013

The following summary represents the fair value of TLC as of the acquisition date.

	TLC
Assets
Current assets:
Cash and cash equivalents	$	84,062
Accounts receivable		259,602
Inventory		19,892,740
Prepaid expenses and other		1,074,420
Total current assets		21,310,824
Property, plant and equipment		28,469,390
Other assets		3,946,570
Total assets	$	53,726,784
Liabilities and stockholders' equity
Current liabilities:
Accounts payable—trade	$	6,383,107
Accounts payable—related party		—
Line of credit payable		9,319,612
Deferred revenue		4,132,386
Current portion of long-term debt		354,390
Other current liabilities		3,962,045
Total current liabilities		24,151,540
Long-term debt		9,265,766
Total liabilities		33,417,306
Stockholders' equity:
Stockholders' equity attributable to CVSL stockholders'		10,500,000
Stockholders' equity attributable to noncontrolling interest		9,809,478
Total stockholders' equity		20,309,478
Total liabilities and stockholders' equity	$	53,726,784

Schedule of TLC Results from Operations

The following table presents the operating results of TLC included in the Company's consolidated statements of operations for the 13 day period beginning March 19, 2013 to March 31, 2013.

Gross sales	$	3,998,530
Program costs and discounts		(1,031,970	)
Net sales		2,966,560
Costs of sales		1,370,120
Gross profit		1,596,440
Commissions and incentives		604,404
Selling, general and administrative		906,007
Operating profit		86,029
Interest expense, net		37,488
Net income		48,541
Net earnings attributable to noncontrolling interest		23,445
Net earnings attributed to CVSL	$	25,096