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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2022
RWS [Member]  
Business Acquisition [Line Items]  
Schedule of Purchase Consideration Paid and Amount of Assets Acquired and Liabilities Assumed

The following table sets forth the purchase consideration paid and the amount of assets acquired and liabilities assumed as of the acquisition date:

Sources of consideration paid:

 

 

 

Cash (1)

 

$

32,048,438

 

Other (2)

 

 

1,964,562

 

 

 

$

34,013,000

 

Purchase price allocation:

 

 

 

Accounts receivable, net (3)

 

$

11,215,720

 

Other assets

 

 

2,305,485

 

Machinery and equipment, net

 

 

494,614

 

Intangible assets

 

 

25,390,000

 

Goodwill

 

 

10,496,693

 

Current liabilities

 

 

(15,889,512

)

 

 

$

34,013,000

 

 

 

 

 

(1) Financed with Monroe Loan

 

(2) Net working capital

 

(3) Gross receivables of $13,686,660, net of allowance of $2,470,940

 

Schedule of Unaudited Pro Forma Information

The following table presents unaudited pro forma information for the year ended December 31, 2021 as if the RWS acquisition had occurred at the beginning of our 2021 fiscal year. The unaudited pro forma information includes adjustments for amortization expense on definite lived intangible assets acquired, interest expense on debt incurred related to the acquisition, certain management adjustments, and the related income tax effects.

 

 

Year Ended December 31, 2021

 

Pro Forma

(unaudited)

 

Revenue

 

$

202,092,014

 

Net loss

 

$

(5,029,315

)

Net loss per share - basic

 

$

(0.27

)

Net loss per share - diluted

 

$

(0.27

)

 

Other Acquisitions [Member]  
Business Acquisition [Line Items]  
Schedule of Purchase Consideration Paid and Amount of Assets Acquired and Liabilities Assumed

We acquired three other environmental services businesses during the year ended December 31, 2021. The final purchase price paid for these business acquisitions and the allocations of the purchase price is summarized as follows:

 

Sources of consideration paid:

 

 

 

Cash (1)

 

$

14,199,777

 

Deferred consideration - earn out liabilities

 

 

1,984,934

 

 

 

$

16,184,711

 

Purchase price allocation:

 

 

 

Accounts receivable, net

 

$

3,171,050

 

Intangible assets

 

 

9,390,000

 

Goodwill

 

 

6,909,362

 

Current liabilities

 

 

(3,285,701

)

 

 

$

16,184,711

 

 

 

 

 

(1) Financed with Monroe Loan