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BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Operation of Acquired Entity

The amounts of revenue and net loss of SMRE included in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2019 (unaudited):

	Three months ended		Six months ended
	June 30, 2019
	Unaudited

Revenue	$	5,348	$	8,250
Net loss	$	5,388	$	7,267

Schedule of Preliminary Estimated Components and Allocations of Combined Purchase Prices

The following table summarizes the preliminary estimated purchase price allocation of the business combination completed during the six months ended June 30, 2019 (unaudited):

Components of Purchase Price:

Cash	$	42,240
Less cash acquired		(3,805	)
Common stock		34,601
Total purchase price	$	73,036

Allocation of Purchase Price:

Total net identifiable assets	$	7,947
Total identifiable intangible assets, net and Goodwill (1)		132,822

Non-controlling interest	$	(67,733	)

Total purchase price allocation (2)	$	73,036

(1)

The intangible assets consist primarily of technology, trade name and customer relationships.

(2)

The Company expects to complete the preliminary estimated purchase price allocation during the measurement period of one year from January 24, 2019. Fair values that are still under review include, among others, values assigned to identifiable intangible assets, goodwill, deferred income taxes and contingent liabilities.

Schedule of Pro-forma Condensed Consolidated Statements of Operations

The following table represents the pro-forma (unaudited) condensed consolidated statements of operations as if all acquisitions completed during the year ended December 31, 2018 and the six months ended June 30, 2019 (unaudited), had been included in the condensed consolidated statements of operations of the Company for the three and six months ended June 30, 2019 (unaudited) and 2018 (unaudited):

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
	Unaudited				Unaudited

Revenue	$	325,010	$	248,541	$	597,953	$	480,325
Net income	$	32,913	$	27,009	$	49,523	$	55,663