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

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Purchased Identifiable Intangible Assets (Tables)

Goodwill and Purchased Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

The change in the carrying amount of goodwill for the three months ended March 31, 2018 is as follows:

Balance as of December 31, 2017	$	5,963,537
Impairment goodwill		(2,629,225)
Balance as of March 31, 2018	$	3,334,312

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The change in the carrying amount of intangible assets for the three months ended March 31, 2018 is as follows:

Balance as of December 31, 2017	$	2,887,094
Amortization		(162,072)
Balance as of March 31, 2018	$	2,725,022

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

Identified intangible assets consist of the following:

		March 31, 2018
Intangible assets	Useful Life	Gross Assets		Accumulated Amortization		Net
Venue relationships	7 years	$	2,410,000	$	(449,839)	$	1,960,161
Ticketing software	3 years		90,000		(45,000)		45,000
Trademark and brand	3 years		610,000		(258,889)		351,111
Fighter contracts	3 years		140,000		(17,500)		122,500
Promoter relationships	6 years		277,099		(44,599)		232,500
Sponsor relationships	4 years		20,000		(6,250)		13,750
Total intangible assets, gross		$	3,547,099	$	(822,077)	$	2,725,022

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

As of March 31, 2018, estimated amortization expense for the unamortized acquired intangible assets over the next five years and thereafter is as follows:

Remainder of 2018	$	486,214
2019		609,119
2020		441,897
2021		409,952
2022		397,036
Thereafter		380,804
	$	2,725,022