Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Acquisition of Elixiter, Inc.

On October 29, 2018, the Company acquired Elixiter Inc., a Montana corporation (“Elixiter”), pursuant to the terms of an Agreement and Plan of Merger (the “Merger Agreement”).  The Merger Agreement provided for approximately $6.3 million of cash to be paid at closing, subject to a net working capital adjustment, approximately 64,846 shares of Company common stock to be issued at closing and a maximum potential payout for additional revenue and earnings-based contingent consideration of $1.8 million, which may be realized by the equity holders twelve months after the closing date of the acquisition. The acquisition of Elixiter expands the Company’s capabilities in digital marketing.

Goodwill and intangible assets are expected to be recorded on the Consolidated Balance Sheet from the acquisition of Elixiter. As of November 1, 2018, the initial accounting for the business combination has not been completed, including the measurement of certain intangible assets and goodwill. Acquisition costs related to Elixiter for the three and nine months ended September 30, 2018 were immaterial.