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Acquisition (Tables)
12 Months Ended
Mar. 31, 2020
Acquisition  
Schedule of purchase price allocation

The following tables summarize the purchase price allocation (in thousands) as of July 2, 2019:

 

 

 

 

 

Cash

    

$

664

Trade accounts receivable

 

 

905

Unbilled accounts receivable

 

 

347

Right-of-use assets

 

 

863

Property and equipment

 

 

357

Intangible assets

 

 

3,710

Goodwill

 

 

5,440

Other assets

 

 

161

Total assets acquired

 

 

12,447

Accounts payable

 

 

(378)

Accrued payroll and related expenses

 

 

(426)

Lease liabilities

 

 

(863)

Total liabilities assumed

 

 

(1,667)

Total purchase price

 

$

10,780

 

Schedule of fair values and useful lives of the identifiable intangible assets

 

 

 

 

 

 

 

    

    

 

    

Weighted Average 

 

 

Amount

 

Useful Life

 

 

(in thousands)

 

(in years)

Customer relationships

 

$

3,500

 

 6

Non-compete agreement

 

 

210

 

 3

Total intangible assets assumed

 

$

3,710

 

  

 

Schedule of pro forma financial information

 

 

 

 

 

 

 

 

 

Year Ended March 31,

 

    

2020

 

2019

Proforma revenue

 

$

116,333

 

$

107,049

Proforma net loss

 

 

(5,775)

 

 

(7,108)

 

 

 

 

 

 

 

Pro forma loss per common stock

 

 

  

 

 

  

Basic

 

 

(0.14)

 

 

(0.21)

Diluted

 

 

(0.14)

 

 

(0.21)