Business Combination (Tables)

9 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Schedule of preliminary purchase price of reflect

(in thousands)	Consideration
Cash consideration for Reflect stock	$	16,664	(1)
Cash consideration for Retention Bonus Plan		1,334	(2)
Common stock issued to Reflect stockholders		4,667	(3)
Common stock issued to Retention Bonus Plan		333	(4)
Secured Promissory Note		2,500	(5)
Earnout liability		10,862	(6)
Total consideration		36,360
Vendor deposit with the Company		(818	)(7)
Cash acquired		(812	)(8)
Net consideration transferred	$	34,730

Schedule of preliminary purchase price allocation

(in thousands)	Total
Accounts receivable	$	1,300
Inventory		196
Prepaid expenses & other current assets		666
Property and equipment		96
Operating right of use assets		493
Other assets		36
Identified intangible assets:
Definite-lived trade names		960
Definite-lived Developed technology		5,130
Definite-lived Customer relationships		11,040
Definite-lived Noncompete agreements		30
Goodwill		18,569
Accounts payable		(96	)
Accrued expenses		(277	)
Customer deposits		(1,661	)
Deferred revenues		(1,259	)
Current maturities of operating leases		(277	)
Long-term obligations under operating leases		(216	)
Net consideration transferred	$	34,730

Schedule of preliminary valuation and amortization period of identifiable intangible assets

(in thousands)	Preliminary Valuation		Amortization Period
Identifiable definite-lived intangible assets:
Trade names	$	960	5 years
Developed technology		5,130	10 years
Noncompete		30	2 years
Customer relationships		11,040	10 years
Total	$	17,160

Schedule of unaudited pro forma

(in thousands, except earnings per common share)	2021
Net sales	$	30,680
Net income	$	799
Earnings per common share	$	0.06

Reflect Systems, Inc. (in thousands)	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Net sales	$	2,966	$	8,392
Net income/(loss)	$	947	$	825