SCWorx, Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2017

The change in the carrying amount of goodwill for the three months ended March 31, 2017 is:

Balance as of December 31, 2016	$	3,271,815
Goodwill Fight Time Promotions		322,601
Goodwill Sucker Punch		160,763
Balance as of March 31, 2017	$	3,755,179

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

Identified intangible assets consist of the following:

	Useful
Intangible assets	Life	Total
Video library, intellectual property	5 years	$	3,537,741
Venue contracts	3 years		1,966,400
Brand	3 years		373,867
Ticketing software	3 years		360,559
Fighter contracts			1,525,584
Total intangible assets, gross		$	7,764,151
Accumulated amortization			(901,863)
Total intangible assets, net		$	6,862,288

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

As of March 31, 2017, estimated amortization expense for the unamortized acquired intangible assets over the next five years and thereafter is as follows:

2017	$	1,579,764
2018		2,106,352
2019		1,905,355
2020		715,572
2021		536,911
Thereafter		18,334
	$	6,862,288

Sucker Punch [Member]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

As consideration for the acquisition of SuckerPunch, the Company delivered the following amounts of cash and shares of common stock.

		Cash			Shares			Warrant Grant			Consideration Paid
SuckerPunch		$	357,500			307,487			93,583		$	1,686,347

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table reflects the preliminary allocation of the purchase price for SuckerPunch to identifiable assets and preliminary pro forma intangible assets and goodwill:

	SuckerPunch
Cash	$
Accounts receivable, net
Intangible assets		1,525,584
Goodwill		160,763
Total identifiable assets	$	1,686,347
Total identifiable liabilities
Total purchase price	$	1,686,347

Fight Time Promotions, LLC [Member]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

As consideration for the acquisition of the MMA promotion business of Fight Time, the Company delivered the following amounts of cash and shares of common stock.

		Cash			Shares			Consideration Paid
Fight Time Promotions		$	84,000			74,667		$	371,468

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table reflects the preliminary allocation of the purchase price for the business of the Fight Time to identifiable assets and preliminary pro forma intangible assets and goodwill:

Cash
Accounts receivable
Intangible assets			48,867
Goodwill			322,601
Total identifiable assets			371,468
Total identifiable liabilities
Total purchase price			371,468