Quarterly report pursuant to Section 13 or 15(d)

BUSINESS COMBINATION (Tables)

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BUSINESS COMBINATION (Tables) - Blue Corner [Member]
 9 Months Ended
Sep. 30, 2021
Business Acquisition [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date of Blue Corner:

 

Purchase price allocation      
       
Purchase Consideration:        
Cash   $ 22,985  
Common stock     790  
         
Total Purchase Consideration   $ 23,775  
         
Less:        
         
Fixed assets     1,229  
Trade name     343  
Customer relationships     1,800  
Favorable leases     292  
Internally developed technology     1,233  
Non-compete agreements     148  
Other liabilities     135  
Other assets     241  
Debt-free net working capital     590  
         
Fair Value of Identified Net Assets     6,011  
         
Remaining Unidentified Goodwill Value   $ 17,764  

 

Changes in the balance of identified intangible assets and goodwill reflected on the balance sheet are the result of the impact of the change in foreign currency exchange rates.

 

The components of debt free net working capital are as follows:

 

Current assets:        
Cash   $ 244  
Accounts receivable     2,595  
Prepaid expenses and other current assets     373  
Inventory     1,419  
         
Total current assets     4,631  
         
Less current liabilities:        
Accounts payable and accrued expenses     3,569  
Deferred revenue     472  
         
Total current liabilities     4,041  
         
Debt free net working capital   $ 590  
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

    For the Three Months Ended
September 30,		     For the Nine Months Ended
September 30,		  
    2021     2020     2021     2020  
    (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)  
Revenues   $ 6,403     $ 1,269     $ 12,990     $ 6,244  
Net loss   $ (15,321 )   $ (4,937 )   $ (35,862 )   $ (12,411 )