Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of fair value allocation of assets acquired and liabilities assumed at the acquisition date Sheehy

Assets acquired
Accounts receivable - trade	$	375,951
Accounts receivable - fuel tax credit		30,397
Prepaid expenses		464,462
Property and equipment		4,128,926
Other long-term assets		2,750
Due from related parties		252,058
Trade name		310,000
Customer relationships		410,000
Non-competition agreement		80,000
Goodwill		4,065,326
Total assets acquired		10,119,870
Liabilities assumed
Accounts payable		(2,907,594	)
Accrued expenses		(1,240,597	)
Long-term debt		(2,639,146	)
Finance lease		(1,047,733	)
Total liabilities assumed		(7,835,070	)
Net assets acquired	$	2,284,800
Consideration paid
Fair value of 2,240,000 shares of common stock issuable	$	2,284,800
Total	$	2,284,800

Schedule of fair value allocation of assets acquired and liabilities assumed of Ursa and JB Lease

Assets acquired
Cash	$	3,742,892
Account receivable - trade		579,188
Other short-term assets		1,646,343
Property and equipment		15,509,169
Trade name		1,300,000
Customer relationships		720,000
Non-competition agreement		80,000
Goodwill		4,470,824
Long-term assets		31,640
Total assets acquired		28,080,056
Liabilities assumed
Accounts payable		(5,640,689	)
Accrued expenses		(1,494,505	)
Long-term debt		(11,198,862	)
Total liabilities assumed		(18,334,056	)
Net assets acquired	$	9,746,000
Consideration paid
Fair value of 800,000 shares of common stock issuable	$	816,000
Cash		2,500,000
Promissory note		6,430,000
Total	$	9,746,000

Schedule of fair value allocation of the assets acquired and liabilities

Assets acquired
Accounts receivable - trade	$	2,061,514
Prepaids		160,436
Trade names		460,000
Non-competition agreement		40,000
Customer relationships		2,330,000
Goodwill		2,887,281
Property and equipment		207,734
Deposits and other long-term assets		205,113
Total assets acquired		8,352,078
Liabilities assumed
Accounts payable		(1,027,316	)
Accrued expenses		(1,573,578	)
Factored receivable advance		(1,230,679	)
Lines-of-credit		(421,739	)
Long-term debt		(187,016	)
Fuel discount advance		(996,750	)
Total liabilities assumed		(5,437,078	)
Net assets acquired	$	2,915,000
Consideration paid
Fair value of 500,000 shares of common stock issuable	$	415,000
Promissory note		2,500,000
Total	$	2,915,000

Schedule of pro forma information

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Revenue
As reported	$	36,450,793		$	2,353,156		$	64,826,839		$	2,673,952
Add pro forma adjustments
Sheehy		-			6,683,364			-			13,111,139
Ursa and JB Lease		-			14,062,403			5,009,963			27,772,892
Thunder Ridge		-			4,024,575			-			10,321,719
Pro forma revenue	$	36,450,793		$	27,123,498		$	69,836,802		$	53,879,702
Net loss
As reported	$	(7,009,571	)	$	(2,648,537	)	$	(14,444,700	)	$	(2,545,820	)
Add pro forma adjustments
Sheehy		-			(334,083	)		-			(1,451,976	)
Ursa and JB Lease		-			(345,141	)		(102,726	)		(636,749	)
Thunder Ridge		-			(427,954	)		-			(760,939	)
Pro forma net loss	$	(7,009,571	)	$	(3,755,715	)	$	(14,547,426	)	$	(5,395,484	)
Net loss available to common stockholders
As reported	$	(7,012,803	)	$	(2,648,537	)	$	(14,453,932	)	$	(2,545,820	)
Pro forma net loss	$	(7,012,803	)	$	(3,755,715	)	$	(14,556,658	)	$	(7,941,303	)
Basic and diluted weighted-average common stock outstanding		8,101,717			1,924,457			4,760,969			1,443,972
Basic and diluted loss per common stock, as reported	$	(0.87	)	$	(1.38	)	$	(3.04	)	$	(1.76	)
Basic and diluted loss per common stock, pro forma	$	(0.87	)	$	(1.95	)	$	(3.06	)	$	(5.50	)