Acquisitions (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2018

Dec. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired is recorded as goodwill.

Assets acquired:
Cash	$	1,038,368
Accounts receivable		12,114
Inventory		315,438
Other current assets		22,928
Property and equipment		4,321
Intangible assets		190,430
Total assets acquired		1,583,599
Total liabilities assumed		(148,285	)
Net assets acquired	$	1,435,314
Consideration paid:
Issuance of 257,200 shares of Class A common stock	$	1,435,176
Cash		138
Total	$	1,435,314

Assets acquired:
Cash	$	239,698
Accounts receivable		662,636
Inventory		132,411
Other current assets		20,857
Property and equipment		299,525
Intangible assets		904,666
Goodwill		222,667
Total assets acquired		2,482,460
Total liabilities assumed		(177,890	)
Net assets acquired	$	2,304,570
Consideration paid:
Cash	$	410,000
Promissory note		656,000
Issuance of 142,857 shares of Class A common stock		828,570
Earn out payable		410,000
Total	$	2,304,570

Schedule of Business Acquisition Pro Forma Information

This information has been compiled from historical financial statements and is not necessarily indicative of the results that actually would have been achieved had the transaction already occurred or that may be achieved in the future.

(in thousands)	For the six months ended June 30, 2018
Revenues	$	16,895,000
Cost of revenues		(12,692,000	)
Operating expenses		(8,420,000	)
Other incomes (expenses)		118,000
Income tax expense
Net loss	$	(4,099,000	)
Net loss per common share	$	(0.41	)
Weighted average outstanding common shares – basic and diluted		10,032,245

In addition, the pro forma results of operations were adjusted for the following expenses:

(in thousands)	For the six months ended June 30, 2018
Record amortization expense of intangible assets acquired	$	50,000

This information has been compiled from historical financial statements and is not necessarily indicative of the results that actually would have been achieved had the transaction already occurred or that may be achieved in the future.

(in thousands)	For the year ended December 31, 2016
Revenues	$	25,391
Cost of revenues		(16,809	)
Operating expenses		(11,240	)
Other incomes (expenses)		(1,036	)
Income tax expense		-
Net loss	$	(3,694	)
Net loss per common share	$	(0.86	)
Weighted average outstanding common shares – basic and diluted		4,299,315

In addition, the pro forma results of operations were adjusted for the following expenses:

(in thousands)	For the year ended December 31, 2016
Record amortization expense of intangible assets acquired from Boxlight Group	$	385

Boxlight [Member]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Upon acquisition by the Company, these amounts were recorded on the historical cost basis of Mim Holdings.

Assets acquired:
Current assets	$	6,677,842
Intangible assets		179,722
Goodwill		44,931
Total assets		6,902,495
Total liabilities		(3,477,495	)
Net assets acquired	$	3,425,000

Mimio [Member]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table shows the purchase price, estimated acquisition-date fair values of the assets acquired and liabilities assumed and calculation of goodwill for Boxlight Group utilizing the information at acquisition date.

Assets acquired:
Current assets	$	5,737,836
Property and equipment		65,866
Intangible assets		7,000,000
Other assets		514,696
Goodwill		4,137,060
Total assets acquired		17,455,458
Total liabilities assumed		(9,212,161	)
Net assets acquired	$	8,243,297
Consideration paid:
Issuance of 270,000 shares of Series C preferred stock	$	8,828,353
Preexisting net payable to Boxlight Group		(585,056	)
Total	$	8,243,297