Quarterly report pursuant to Section 13 or 15(d)

Acquisition of ChizComm Entities (Tables)

v3.21.2
Acquisition of ChizComm Entities (Tables)
 6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Total purchase price consideration paid
     
    Amount  
Cash consideration at closing   $ 8,500,000  
Equity consideration at closing     3,527,027  
Fair value of Earn-Out shares     7,210,000  
Total   $ 19,237,027  
Assets acquired and liabilities assumed
       
Cash   $ 711,123  
Accounts Receivable     6,150,919  
Prepaid Expenses     56,594  
Lease Deposits     12,390  
Fixed Assets     147,689  
Trade Name     3,430,000  
Customer Relationships     6,140,000  
Non-Compete Agreements     60,000  
Goodwill     9,607,027  
Accounts Payable and Accrued Expenses     (7,006,350 )
Payroll Tax Liability     (72,365 )
         
Total Consideration   $ 19,237,027  
Supplemental pro forma information

Supplemental pro forma information as follows: 

                                 
      Three Months Ended       Six Months Ended  
      June 30,
2021		       June 30,
2020		       June 30,
2021		       June 30,
2020		  
Total Revenues   $ 2,342,205     $ 1,293,956     $ 4,758,768     $ 6,963,704  
                                 
Net Loss     (7,383,978 )     (383,624,941 )     (84,269,062 )     (391,305,960 )
                                 
Net Loss per Common Share (Basic and Diluted)   $ (0.02 )   $ (4.89 )   $ (0.29 )   $ (15.85 )
                                 
Weighted Average Shares Outstanding (Basic and Diluted)     300,646,819       78,503,414       293,969,462       24,690,154