Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2016

Business Acquisition

Summary of balance and activity of contingent consideration

Beginning fair value of contingent liability, December 31, 2014	$	—
Initial fair value of contingent consideration	851,000
Period change in valuation	—
Contingent liability balance, December 31, 2015	851,000
Period change in valuation	(294,342		)
Payments	(658		)
Contingent liability balance, December 31, 2016	556,000
Less: Current liability	21,700
Non-current liability	$	534,300

Summary of estimated fair values of assets acquired and liabilities assumed at acquisition date

	July 1, 2015
Total Purchase Consideration:
Cash	$	2,121,000
Loans to Seller	2,141,000
Contingent Consideration	851,000
Total Purchase Consideration	$	5,113,000
Assets Acquired and Liabilities Assumed:
Cash	$	131,000
Accounts Receivable	373,000
AR due to seller	(173,000		)
Prepaid Expenses and Inventory	35,000
Fixed Assets	83,000
Trade Names	814,000
Customer Relationship	1,302,000
Goodwill	3,208,000
Accounts Payable	(63,000		)
Accrued Payroll, Benefits and Other Current Liabilities	(122,000		)
Customer Deposits	(475,000		)
Total Assets Acquired and Liabilities Assumed	$	5,113,000

Schedule of unaudited pro forma combined results of operations

	Pro Forma
	Year Ended
	December 31, 2015
	(unaudited)
Net Sales	$	117,937,523
Income (Loss) from Operations	$	(223,717	)
Net Income (Loss)	$	(381,360	)
Basic & Diluted
Loss per Common Share	$	(0.14	)