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Mergers and Acquisitions (Tables)
 6 Months Ended
Jun. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Fair Value Adjustments for Shares of Series B and Series M Preferred Stock
The fair value of the purchase price components outlined above was $16.0 million due to fair value adjustments for the shares of Series B and Series M Preferred Stock, as detailed below (in $000’s):
Common stock$7,448 
Series B preferred stock8,552 
Total purchase price$16,000 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The table
below outlines the purchase price allocation of the purchase for ALT5 Subsidiary to the acquired identifiable assets, liabilities assumed and goodwill (in $000’s):
Total purchase price$16,000 
Accounts payable 267 
Digital assets payable16,763 
Debt7,613 
   Total liabilities assumed24,643 
Total consideration40,643 
Cash5,853 
Accounts receivable2,917 
Digital assets receivable9,082 
Intangible assets
Customer relationships$13,925 
Trade names2,675 
Developed technology1,850 
Subtotal intangible assets18,450 
Other492 
Total assets acquired36,794 
Total goodwill$3,849 
Schedule of Proforma Information
The table below presents selected proforma information for the Company for the thirteen and twenty-six week periods ended June 29, 2024, assuming that the acquisition had occurred on January 1, 2023 (the beginning of the Company’s 2023 fiscal year), pursuant to ASC 805-10-50 (in $000's). This proforma information does not purport to represent what the
actual results of operations of the Company would have been had the acquisition occurred on that date, nor does it purport to predict the results of operations for future periods.
As ReportedAdjustmentsProforma
ALT5 Sigma Corporation Unaudited 13 weeks ended June 29, 2024ALT5 Subsidiary Unaudited 13 weeks ended June 29, 2024Adjustments(1)ALT5 Sigma Corporation for the 13 weeks ended June 29, 2024
Net revenue$2,169 $693 $2,862 
Net income$589 $206 $(269)$526 
Earnings per basic common share$0.07 $0.06 
Earnings per basic diluted share$0.07 $0.06 
As ReportedAdjustmentsProforma
ALT5 Sigma Corporation Unaudited 13 weeks ended July 1, 2023ALT5 Subsidiary Unaudited 13 weeks ended July 1, 2023Adjustments(1)ALT5 Sigma Corporation for the 13 weeks ended July 1, 2023
Net revenue$— $2,021 $2,021 
Net income$123 $1,157 $(537)$743 
Earnings per basic common share$0.03 $0.20 
Earnings per basic diluted share$0.03 $0.20 
As ReportedAdjustmentsProforma
ALT5 Sigma Corporation Unaudited 26 weeks ended June 29, 2024ALT5 Subsidiary Unaudited 26 weeks ended June 29, 2024Adjustments(1)ALT5 Sigma Corporation for the 26 weeks ended June 29, 2024
Net revenue$2,169 $2,918 $5,087 
Net income$(1,555)$71 $(806)$(2,290)
Earnings per basic common share$(0.18)$(0.27)
Earnings per basic diluted share$(0.18)$(0.27)
As ReportedAdjustmentsProforma
ALT5 Sigma Corporation Unaudited 26 weeks ended July 1, 2023ALT5 Subsidiary Unaudited 26 weeks ended July 1, 2023Adjustments(1)ALT5 Sigma Corporation for the 26 weeks ended July 1, 2023
Net revenue$— $3,254 $3,254 
Net income$10,207 $1,392 $(1,074)$10,525 
Earnings per basic common share$2.97 $3.07 
Earnings per basic diluted share$2.97 $3.07 
(1)Adjustments are related to adjustments made for the following:
•Amortization expense of definite-lived intangible assets has been adjusted based on the preliminary fair value at the acquisition date.