Merger (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase price

Purchase price:
Cash paid to the seller	$	6,149,343
Total purchase price		6,149,343
Tangible Assets Acquired:
Cash		212,068
Accounts Receivable		1,389,263
Prepaid Expenses		127,574
Fixed Assets		4,986
Website and Digital Assets		33,002
Security Deposits		22,500
Total Tangible Assets Acquired		1,789,393
Tangible Liabilities Assumed:
Accounts Payable and Accrued Expenses		514,354
Deferred Revenue		68,736
Deferred Tax Liability		399,631
PPP Loan Payable		307,300
Total Tangible Liabilities Assumed		1,290,021
Net Tangible Assets Acquired		499,372
Excess Purchase Price	$	5,649,971

Schedule of unaudited pro-forma

Customer Relationships	$	1,870,000
Trade Names		235,000
Assembled Workforce		287,000
Goodwill		3,257,971
Excess Purchase Price	$	5,649,971

The intangible assets acquired include the trade names, customer relationships, assembled workforce, and goodwill. The deferred tax liability represents the tax effected timing differences relating to the acquired intangible assets to the extent they are not offset by acquired deferred tax assets.

The goodwill represents the assembled workforce, acquired capabilities, and future economic benefits resulting from the acquisition. No portion of the goodwill is deductible for tax purposes.

The following presents the unaudited pro-forma combined results of operations of the Company with Flagship Solutions as if the entities were combined on January 1, 2020.

	Year Ended
	December 31, 2021
Revenues	$	23,051,759
Net income attributable to common shareholders	$	1,526,938
Net income per share	$	0.30
Weighted average number of shares outstanding		5,075,716

	Year Ended
	December 31, 2020
Revenues	$	18,172,193
Net loss attributable to common shareholders	$	91,180
Net loss per share	$	0.03
Weighted average number of shares outstanding		3,213,157