Quarterly report pursuant to Section 13 or 15(d)

Acquisition of ChizComm Entities (Tables)

v3.21.2
Acquisition of ChizComm Entities (Tables)
 9 Months Ended
Sep. 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
                               
                         
    Three Months Ended     Nine Months Ended  
    September 30,
2021		     September 30,
2020		     September 30,
2021		     September 30,
2020		  
Total Revenues   $ 1,871,449     $ 3,786,292     $ 6,630,216     $ 5,414,987  
                                 
Net Loss     (9,253,380 )     (2,164,427 )     (93,533,387 )     (391,625,312 )
                                 
Net Loss per Common Share (Basic and Diluted)   $ (0.03 )   $ (0.01 )   $ (0.32 )   $ (3.63 )
                                 
Weighted Average Shares Outstanding (Basic and Diluted)     300,321,658       218,991,119       296,001,742       107,786,940