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)

9 Months Ended

Sep. 30, 2019

Schedule of assets acquired, liabilities assumed and preliminary purchase allocation

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


	Estimated
	Fair Value

Cash	$	5,441,437
Goodwill		8,466,282
Identifiable intangible assets:
Ticketing software		64,000
Promoter relationships		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 identified intangible assets

Identified intangible assets consist of the following:


		September 30, 2019
		Gross		Accumulated
Intangible assets	Useful Life	Assets		Amortization		Net
Ticketing software	5 years	$	64,000	$	(8,533)	$	55,467
Promoter relationships	7 years		176,000		(16,762)		159,238
Total intangible assets, gross		$	240,000	$	(25,295)	$	214,705

Schedule of estimated future amortization expense on an annual basis of amortizable intangible assets

As of September 30, 2019, the estimated future amortization expense on an annual basis of amortizable intangible assets is as follows:


2019 (remaining 3 months)	$	9,486
2020		37,943
2021		37,943
2022		37,943
2023		37,943
Thereafter		53,447
	$	214,705

Schedule of changes to the carrying value of goodwill

The changes to the carrying value of goodwill from January 1, 2019 through September 30, 2019 are reflected below:


December 31, 2018
Goodwill related to the acquisition of Alliance MMA	$	8,466,282
September 30, 2019	$	8,466,282