Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.3.1.900
Acquisitions (Tables)
12 Months Ended
Sep. 30, 2015
Scribe [Member]  
Allocation of intangible assets

The intangibles were recorded, based on the Company's estimate of fair value, which consist primarily of customer lists and trade name with an estimated life of ten years and goodwill. Upon completion of an independent purchase price allocation and valuation, the allocation intangible assets were adjusted accordingly. 

 

(in Thousands)

$ 676     Assets Purchased 
  452     Liabilities Assumed 
  224     Net Assets Purchased 
  7,730     Purchase Price 
$ 7,506     Intangible Asset from Purchase 

 

The primary intangible assets acquired have been identified as the customer list, trade name and goodwill and have been allocated as follows: 

 

$ 1,470     Customer list 
  746     Trade name 
  5,290     Goodwill 
$ 7,506      

Schedule of acquisition

Pro Forma, unaudited   Year Ended September 30,
2015 
    Year Ended September 30,
2014 
 
Net sales    $ 43,059     $ 45,072  
Cost of sales      28,400       31,013  
Operating expenses      15,132       16,163  
Net loss    $ (1,262 )   $ (5,133 )
Basic and dilutive income per common share    $ (0.00 )   $ (0.00 )

Agile [Memeber]  
Allocation of intangible assets

The intangibles will be recorded, based on the Company's estimate of fair value, consist primarily of customer lists with an estimated life of five to ten years and goodwill. Upon completion of an independent purchase price allocation and valuation, the allocation intangible assets will be adjusted accordingly. 

 

(in Thousands)

 $ 1,571     Assets Purchased 
  1,479     Liabilities Assumed 
  92     Net Assets Purchased 
  3,507     Purchase Price 
$ 3,415     Intangible Asset from Purchase 

 

Intangible asset detail 

$ 1,071     Intangible asset customer list 
  295     Intangible asset trade name 
  225     Intangible asset non-compete agreement 
  1,824     Goodwill 
$ 3,415     Intangible Asset from Purchase 

Schedule of acquisition

Pro Forma, unaudited   Year Ended September 30,
2015 
    Year Ended September 30,
2014 
 
Net sales    $ 49,548     $ 47,138  
Cost of sales      33,908       30,825  
Operating expenses      17,109       16,667  
Net loss    $ (4,519 )   $ (1,091 )
Basic and dilutive income per common share    $ (0.00 )   $ (0.00 )