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

Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2019

Schedule Of Business Acquisition Purchase Price Allocation And Useful Life Of Intangible Assets [Table Text Block]

The assets acquired, liabilities assumed and preliminary purchase allocation, which is based on estimates and valuations of management, is as follows:

	Estimated Useful Life (years)	Estimated Fair Value

Cash		$	5,441,437
Goodwill			8,466,282
Identifiable intangible assets:
Ticketing software	5		64,000
Promoter relationships	7		176,000
Total identifiable intangible assets			240,000
Accounts payable			(1,901,624	)
Current liabilities - discontinued operations			(380,789	)
Aggregate purchase price		$	11,865,306

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

Identified intangible assets consist of the following:

		March 31, 2019
Intangible assets	Useful Life	Gross Assets		Accumulated Amortization			Net
Ticketing software	5 years	$	64,000	$	(2,133	)	$	61,867
Promoter relationships	7 years		176,000		(4,191	)		171,809
Total intangible assets, gross		$	240,000	$	(6,324	)	$	233,676

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

As of March 31, 2019, the estimated future amortization expense of amortizable intangible assets is as follows:

2019 (remaining 9 months)	$	28,457
2020		37,943
2021		37,943
2022		37,943
2023		37,943
Thereafter		53,447
	$	233,676

Schedule of Goodwill [Table Text Block]

The changes to the carrying value of goodwill from January 1, 2019 through March 31, 2019 are reflected below:

December 31, 2018	$	—
Goodwill related to the acquisition of Alliance MMA		8,446,282
March 31, 2019	$	8,446,282