Acquisition and Pending Acquisition Transaction (Tables)

3 Months Ended

May 31, 2021

Directed LLC and Directed Electronics Canada Inc [Member]

Summary of Allocation of Purchase Price for Fair Value of Assets Acquired and Liabilities Assumed

The following summarizes the allocation of the purchase price based upon the fair value of the assets acquired and liabilities assumed at the date of acquisition:

	July 1, 2020		Measurement Period Adjustments			July 1, 2020 (as adjusted)
Assets acquired:
Inventory	$	7,054		956			8,010
Accounts receivable		5,173		214			5,387
Other current assets		160		-			160
Property and equipment		2,815		-			2,815
Operating lease, right of use asset		1,771		-			1,771
Customer relationships		2,600		(100	)		2,500
Trademarks		4,500		-			4,500
Patented technology		1,030		-			1,030
Goodwill		3,290		(1,240	)		2,050
Total assets acquired	$	28,393	$	(170	)	$	28,223
Liabilities assumed:
Accounts payable		8,144		-			8,144
Accrued expenses		1,406		(181	)		1,225
Contract liabilities		4,872		11			4,883
Warranty accrual		1,200		-			1,200
Operating lease liability		1,771		-			1,771
Total	$	17,393	$	(170	)	$	17,223
Total purchase price	$	11,000	$	-		$	11,000