GKCE Acquisition (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of purchase price consideration

The major classes of assets and liabilities to which the Company has preliminarily allocated the fair value of purchase price consideration were as follows:


	June 12, 2020
Cash and cash equivalents	$	432,000
Accounts receivable	827,000
Prepaid expense and other	22,000
Building	404,000
Medical equipment	319,000
Purchased intangible assets	78,000
Goodwill	1,265,000
Total assets acquired	$	3,347,000
Accounts payable	(193,000)
Income taxes payable	(136,000)
Deferred income taxes	(66,000)
Employee compensation and benefits	(83,000)
Total liabilities assumed	$	(478,000)
Consideration allocated to assets acquired and liabilities assumed	$	2,869,000

First working capital payment	$	(515,000)
Estimated subsequent working capital payment	(354,000)
Base purchase consideration	$	2,000,000

Schedule of tangible assets acquired as part of business combination

The preliminary value of the acquired tangible assets acquired are as follows:


	Fair Value		Useful Life (in Years)
Building	$	404,000	20
Medical equipment	302,000		2
Other fixed assets	17,000		2
Total tangible assets	$	723,000