BUSINESS COMBINATIONS AND ASSET PURCHASES (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of preliminary allocation of business acquisition

A summary of the preliminary of allocation of the Ermont Consideration to the acquired and identifiable intangible assets is as follows (in thousands):

Fair value of consideration transferred:
Cash consideration:
Cash paid	$	3,000
Less cash acquired	(5)
Net cash consideration	2,995
Common stock	2,994
Promissory note	4,569
Total fair value of consideration	$	10,558

Fair value of assets acquired and (liabilities assumed):
Property and equipment	$	800
Intangible assets:
Tradename and trademarks	1,060
Licenses and customer base	4,773
Goodwill	3,925
Fair value of net assets acquired	$	10,558

A summary of the final allocation of the Kind Consideration to the acquired assets, identifiable intangible assets and certain assumed liabilities is as follows (in thousands):

Fair value of consideration transferred:
Cash consideration:
Cash paid at closing	$	10,128
Release of escrow	2,444
Severance paid from escrow	556
Less cash acquired	(2,310)
Net cash consideration	10,818
Note payable	5,634
Write-off accounts receivable	658
Write-off of deferred accounts receivable	842
Total fair value of consideration transferred	$	17,952

Fair value of assets acquired and (liabilities assumed):
Current assets, net of cash acquired	$	5,047
Property and equipment	622
Intangible assets:
Tradename and trademarks	2,041
Licenses and customer base	4,700
Non-compete agreements	42
Goodwill	6,011
Current liabilities	(511)
Fair value of net assets acquired	$	17,952

Business Acquisition, Pro Forma Information

The pro forma financial results for the year ended December 31, 2022 giving effect to the Kind Acquisition as if it had occurred at January 1, 2021 are as follows (unaudited, in thousands):

Revenue	$	136,078
Net income	$	15,823