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)

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