Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

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Acquisitions (Tables) - Jamison
9 Months Ended
Sep. 30, 2015
Business Acquisition [Line Items]  
Summary of Purchase Consideration

 

Cash paid on date of acquisition

$

3,550

 

Notes payable to Jamison and Principals of Jamison

 

2,165

 

Units issued

 

3,562

 

Contingent consideration

 

1,429

 

Total purchase consideration

$

10,706

 

 

Summary of Final Amounts Preliminarily Allocated to Acquired Assets and Assumed Liabilities

The following table summarizes the amounts preliminarily allocated to acquired assets and assumed liabilities.  The excess of the purchase price over the fair values of the assets acquired and liabilities assumed was allocated to goodwill and intangible assets.

 

Prepaid expense

$

135

 

Furniture and equipment

 

335

 

Security deposits

 

30

 

Capital leases

 

(253

)

Deferred rent

 

(19

)

Total fair value of net tangible assets acquired

 

228

 

Goodwill

 

4,678

 

Customer relationships (10 years)

 

5,000

 

Non-compete agreements (5 years)

 

800

 

Total purchase consideration

$

10,706

 

 

Summary of Pro Forma Information

The pro forma information below represents consolidated results of operations as if the acquisition of Jamison occurred on January 1, 2015 and January 1, 2014. The pro forma information has been included for comparative purposes and is not indicative of results of operations of the Company had the acquisitions occurred as of January 1, 2015 and 2014, nor is it necessarily indicative of future results.

 

 

  

Pro Forma 

Nine Months Ended
September 30, 2015

 

 

  

Pro Forma 

Nine Months Ended
September 30, 2014

 

Total Revenue

  

$

58,601

  

 

  

$

56,310

  

Net Income

  

$

9,256

  

 

  

$

8,613