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Business Acquisitions (Tables)
6 Months Ended
Jun. 30, 2018
Schedule of Unaudited Pro Forma Results of Acquisition of Parscale Creative

The following tables set forth the unaudited pro forma results of the Company as if the acquisitions of Parscale Creative and WebTegrity had taken place on the first day of the period presented. These combined results are not necessarily indicative of the results that may have been achieved had the companies been combined as of the first day of the period presented.

  

Six months ended,

June 30, 2018

 

Six months ended,

June 30, 2017

Total revenues  $5,474,359   $4,427,416 
Net income (loss)   (1,152,343)   255,460 
Basic and diluted net earnings per common share  $(0.01)  $0.00 

 

Parscale Creative, Inc. [Member]  
Schedule of Estimated Fair Value of the Consideration Transferred

The acquisition date estimated fair value of the consideration transferred and purchase price allocation consisted of the following:

 

Cash  $200,000 
Customer deposits and accrued expenses   (535,000)
Net tangible liabilities  $(335,000)
      
Non-compete agreements  $280,000 
Brand name   1,930,000 
Customer list   2,090,000 
Goodwill   4,720,000 
Deferred tax liability   (1,075,000)
Total purchase price  $7,945,000 

 

Issuance of series D convertible preferred stock  $7,610,000 
Net tangible liabilities   335,000 
Total purchase price  $7,945,000 
      

 

WebTegrity, LLC [Member]  
Schedule of Estimated Fair Value of the Consideration Transferred

The acquisition date estimated fair value of the consideration transferred and purchase price allocation consisted of the following:

Current assets  $78,000 
Fixed assets   30,000 
Liabilities   (48,000)
Net assets   60,000 
Brand name   130,000 
Customer list   280,000 
Goodwill   530,000 
Deferred tax liability   (100,000)
Total purchase price  $900,000 
      

 

Issuance of Series E Convertible Preferred Stock  $900,000 
Parscale Media, LLC [Member]  
Schedule of Estimated Fair Value of the Consideration Transferred

 

Current assets  $—   
Brand name   100,000 
Customer list   400,000 
Goodwill   625,000 
Deferred tax liability   (125,000)
Total purchase price  $1,000,000