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Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Key Components of Discontinued Operations
s.
The following table presents a summary of the transactions related to the sale.
 
December 31, 2017
Sale price
$
33,500,000

Less: transition services payments
(1,500,000
)
Adjusted purchase price
32,000,000

 
 
Assets held for sale
(16,851,540
)
Liabilities held for sale
2,330,052

Transaction costs
(895,186
)
Income tax expense
(912,298
)
Gain on sale of discontinued operations
$
15,671,028


Assets and liabilities held for sale as of December 31, 2016 were as follows:
 
 
December 31, 2016
 
 
 
Assets
 
 
Current assets:
 
 
Accounts receivable, net
 
$
4,028,713

Inventory
 
1,521,400

Prepaid expenses and other current assets
 
251,516

Total current assets
 
5,801,629

Property and equipment, net
 
3,298,151

Intangible assets, net
 
5,314,046

Goodwill
 
1,846,331

Other assets
 
50,754

       Total non-current assets
 
10,509,282

Total assets held for sale
 
$
16,310,911

Liabilities
 
 
Current liabilities:
 
 
Accounts payable
 
$
1,511,450

Accrued liabilities
 
753,556

Deferred revenue
 
111,697

Total current liabilities
 
2,376,703

Long-term deferred rent
 
84,555

       Total non-current liabilities
 
84,555

Total liabilities held for sale
 
$
2,461,258




The key components of income from discontinued operations were as follows: