Acquisition (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Schedule of Changes in Contingent Consideration

The changes in contingent consideration through December 31, 2018 is as follows:

Balance as of December 31, 2017	$	2,777,000
Change in contingent consideration		169,000
Payment of contingent consideration via issuance of shares		(2,000,000	)
Settlement of contingent consideration		(946,000	)
Balance as of December 31, 2018	$	-

Schedule of Purchase Price Allocation On Net Assets Acquired

The following table summarizes the purchase price allocation based on estimated fair values of the net assets acquired at the acquisition date:

Accounts receivable	$	835,000
Inventory		1,066,000
Other assets		42,000
Intangibles		5,086,000
Goodwill		5,481,000
Less: Current liabilities assumed		(454,000	)
Net assets acquired	$	12,056,000

Schedule of Revenue and Operating Income

The following revenue and operating income of Keytroller are included in the Company’s consolidated results of operations for the year ended December 31, 2017:

	Year Ended
	December 31, 2017
Revenues	$	3,468,000
Operating income	$	708,000

Schedule of Combined Pro Forma Revenue and Earnings

This summary is not necessarily indicative of what the results of operations would have been had the Keytroller Acquisition occurred during such period, nor does it purport to represent results of operations for any future periods.

	Year Ended						Year Ended
	December 31, 2016						December 31, 2017
	Historical			Pro Forma Combined			Historical			Pro Forma Combined
				(Unaudited)						(Unaudited)
Revenues	$	36,822,000		$	43,446,000		$	40,958,000		$	44,796,000
Operating loss		(6,368,000	)		(5,505,000	)		(4,091,000	)		(3,617,000	)
Net loss per share - basic and diluted	$	(0.49	)	$	(0.35	)	$	(0.26	)	$	(0.24	)