Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.19.2
Business Combinations (Tables)
6 Months Ended
Jun. 30, 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:
 
 
 
 
 
June 30, 2019
 
Intangible assets
 
Useful Life
 
Gross
Assets
 
 
Accumulated
Amortization
 
 
Net
 
Ticketing software
 
5 years
 
$
64,000
 
 
$
(5,334
)
 
$ 58,666
 
Promoter relationships
 
7 years
 
 
176,000
 
 
 
(10,476
)
 
 
165,524
 
Total intangible assets, gross
 
 
 
 
$ 240,000
 
 
$
(15,810
)
 
$ 224,190
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
As of June 30, 2019, the estimated future amortization expense of amortizable intangible assets is as follows:
 
2019 (remaining 6 months)  
$
18,971  
2020     37,943  
2021     37,943  
2022     37,943  
2023     37,943  
Thereafter     53,447  
   
$
224,190  
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Goodwill [Table Text Block]
The changes to the carrying value of goodwill from January 1, 2019 through June 30, 2019 are reflected below:
 
 
December 31, 2018
     
Goodwill related to the acquisition of Alliance MMA   8,466,282  
June 30, 2019
  $ 8,466,282