| Schedule of Business Acquisition Pro Forma Information |
CyberFone Systems
| Intangible assets |
|
$ |
1,135,512 |
|
| Goodwill |
|
|
2,144,488 |
|
| Net purchase price |
|
$ |
3,280,000 |
|
Selene Communication Technologies
| Intangible assets |
|
$ |
910,000 |
|
| Net working capital |
|
|
37,000 |
|
| Goodwill |
|
|
83,000 |
|
| Net purchase price |
|
$ |
1,030,000 |
|
Clouding Corp.
| Intangible assets |
|
$ |
14,500,000 |
|
| Goodwill |
|
|
1,296,000 |
|
| Net purchase price |
|
$ |
15,796,000 |
|
Total
consideration paid of the following:
| Cash |
|
$ |
1,400,000 |
|
| Promissory Note |
|
|
1,000,000 |
|
| Common Stock |
|
|
281,000 |
|
| Earn-Out Liability |
|
|
13,115,000 |
|
| Net purchase price |
|
$ |
15,796,000 |
|
Summary of Unaudited Pro-forma Information
| |
|
December 31, |
|
| |
|
2014 |
|
|
2013 |
|
| Pro forma revenues |
|
$ |
21,501,969 |
|
|
$ |
15,418,371 |
|
| Pro forma income (loss) from operations |
|
|
(2,477,063 |
) |
|
|
(4,382,417 |
) |
| Pro forma net income (loss) |
|
|
(2,532,174 |
) |
|
|
(4,153,112 |
) |
| Pro forma net income (loss) per share |
|
|
(0.22 |
) |
|
|
(0.45 |
) |
| Pro forma net income (loss) attributable to common shareholders |
|
|
(3,803,666 |
) |
|
|
(4,153,112 |
) |
| Pro forma net income (loss) attributable to common shareholders |
|
|
(0.33 |
) |
|
|
(0.45 |
) |
| Weighted average number of shares outstanding – basic and diluted |
|
|
11,660,879 |
|
|
|
9,208,836 |
|
TLI Communications LLC
| Intangible assets |
|
$ |
940,000 |
|
| Goodwill |
|
|
228,000 |
|
| Net purchase price |
|
$ |
1,168,000 |
|
3
Medtech Entities
| Intangible assets |
|
$ |
12,800,000 |
|
| Goodwill |
|
|
2,700,000 |
|
| Net purchase price |
|
$ |
15,500,000 |
|
| |
|
December 31, |
|
| |
|
2014 |
|
|
2013 |
|
| Pro forma revenues |
|
$ |
21,697,937 |
|
|
$ |
3,755,726 |
|
| Pro forma income (loss) from operations |
|
|
(4,037,857 |
) |
|
|
(5,965,065 |
) |
| Pro forma net income (loss) |
|
|
(4,780,198 |
) |
|
|
(6,387,532 |
) |
| Pro forma net income (loss) per share |
|
|
(0.41 |
) |
|
|
(0.69 |
) |
| Pro forma net income (loss) attributable to common shareholders |
|
|
(6,051,690 |
) |
|
|
(6,387,532 |
) |
| Pro forma net income (loss) attributable to common shareholders |
|
|
(0.52 |
) |
|
|
(0.69 |
) |
| Weighted average number of shares outstanding – basic and diluted |
|
|
11,660,879 |
|
|
|
9,208,836 |
|
|