Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.7.0.1
Acquisitions (Tables) - Jamison
12 Months Ended
Dec. 31, 2016
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 Allocated to Acquired Assets and Assumed Liabilities

 

The following table summarizes the final amounts 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

 

4,674

 

Customer relationships (10 years)

 

5,000

 

Non-compete agreements (5 years)

 

804

 

Total purchase consideration

$

10,706

 

 

Summary of Pro Forma Information

The unaudited pro forma information below represents consolidated results of operations as if the acquisition of Jamison occurred on 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, 2014, nor is it necessarily indicative of future results.

 

 

  

Pro Forma 

Year Ended
December 31, 2015

 

 

  

Pro Forma 

Year Ended
December 31, 2014

 

Total Revenue

  

$

77,812

  

 

  

$

75,581

  

Net Income

  

$

11,401

  

 

  

$

10,921