|
Acquisition (Tables)
|
9 Months Ended |
|
Sep. 30, 2013
|
| Business Acquisition [Line Items] |
|
| Summary of revenues and net loss of Car Charging Group, Inc. and the three acquisitions |
The revenues and net loss of the acquirees as of their respective acquisition dates included in the consolidated statements of operations for the nine months ended September 30, 2013 is as follows:
| |
|
Car
Charging
Group Inc.
|
|
|
Beam
Charging
LLC
|
|
|
350 Green
LLC
|
|
|
Total
|
|
|
Revenues
|
|
$
|
97,185
|
|
|
$
|
56,187
|
|
|
$
|
29,108
|
|
|
$
|
182,480
|
|
|
Net Loss
|
|
$
|
(14,265,218 |
)
|
|
$
|
(576,040
|
)
|
|
$
|
(959,179
|
)
|
|
$
|
(15,800,437
|
)
|
The pro forma revenues and net loss of Car Charging Group, Inc. and the acquirees as if the acquisitions occurred as of January 1, 2013 and for the nine months ended ended September 30, 2013 is as follows:
| |
|
Car
Charging
Group Inc.
|
|
|
Beam
Charging
LLC
|
|
|
350Green
LLC
|
|
|
Total
|
|
|
Revenues
|
|
$
|
97,185
|
|
|
$
|
57,387
|
|
|
$
|
166,159
|
|
|
$
|
320,731
|
|
|
Net Income (Loss)
|
|
$
|
(14,265,218
|
)
|
|
$
|
(612,831
|
)
|
|
$
|
(1,428, 181
|
)
|
|
$
|
(16,306,230
|
)
|
The pro forma revenues and net loss of Car Charging Group, Inc. and the acquirees as if the acquisitions occurred as of January 1, 2012 and for the nine months ended September 30, 2012 is as follows:
| |
|
Car
Charging
Group Inc.
|
|
|
Beam
Charging
LLC
|
|
|
350 Green
LLC
|
|
|
Total
|
|
|
Revenues
|
|
$
|
246,330
|
|
|
$
|
1,126
|
|
|
$
|
405,748
|
|
|
$
|
653,204
|
|
|
Net Loss
|
|
$
|
(3,597,551
|
)
|
|
$
|
(85,589
|
)
|
|
$
|
(1,876,401
|
)
|
|
$
|
(5,559,541
|
)
|
|
| Schedule of condensed pro forma balance sheet |
|
|
As reported |
|
|
To be
transferred
to JNS
|
|
|
Pro Forma |
|
Assets |
|
|
|
|
|
|
|
|
|
Current assets |
|
$ |
708,704 |
|
|
$ |
- |
|
|
$ |
708,704 |
|
Fixed assets, net |
|
|
5,446,438 |
|
|
|
1,272,856 |
|
|
|
4,173,582 |
|
Deposits and Other Assets |
|
|
400,895 |
|
|
|
- |
|
|
|
400,895 |
|
Intangible assets, net |
|
|
3,996,450 |
|
|
|
- |
|
|
|
3,996,450 |
|
Goodwill |
|
|
2,832,801 |
|
|
|
1,323,425, |
|
|
|
1,509,376 |
|
Total Assets |
|
$ |
13,385,288 |
|
|
$ |
2,596,281 |
|
|
$ |
10,789,007 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
6,329,277 |
|
|
$ |
1,800,589 |
|
|
$ |
4,528,688 |
|
Deferred revenue |
|
|
2,770,271 |
|
|
|
1,121,975 |
|
|
|
1,648,296 |
|
All other current liabilities |
|
|
734,185 |
|
|
|
- |
|
|
|
734,185 |
|
Total current liabilities |
|
|
9,833,733 |
|
|
|
2,922,564 |
|
|
|
6,911,169 |
|
Long term liabilities |
|
|
843,931 |
|
|
|
- |
|
|
|
843,931 |
|
Total liabilities |
|
|
10,677,664 |
|
|
|
2,922,564 |
|
|
|
7,755,100 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ Equity |
|
|
2,707,624 |
|
|
|
(326,283 |
) |
|
|
3,033,907 |
|
Total Liabilities and Stockholders’ Equity |
|
$ |
13,385,288 |
|
|
$ |
2,596,281 |
|
|
$ |
10,789,007 |
|
|
| Schedule of consolidated statements of operations |
|
|
As Reported |
|
|
Attributable
to the net
liabilities to
be transferred
to JNS
|
|
|
Pro Forma |
|
Revenues |
|
$ |
182,480 |
|
|
$ |
4,428 |
|
|
$ |
178,052 |
|
Net Loss attributable to common shareholders |
|
$ |
(18,621,253 |
) |
|
$ |
(326,283 |
) |
|
$ |
(18,294,970 |
) |
|
|
Beam Acquisition [Member]
|
|
| Business Acquisition [Line Items] |
|
| Summary the preliminary fair value of assets acquired and liabilities assumed |
|
|
February 26,
2013
|
|
Cash |
|
$ |
69 |
|
Fixed assets, net |
|
|
489,155 |
|
Amortizable intangible assets |
|
|
1,467,000 |
|
Current liabilities |
|
|
(631,945 |
) |
Net identifiable assets |
|
|
1,324,279 |
|
Goodwill |
|
|
782,440 |
|
Total consideration given |
|
$ |
2,106,719 |
|
| Schedule of fair value of intangible assets pending finalization of a third party valuation |
|
|
February 26,
2013
|
|
Provider agreements for locations awaiting installation of EV charging stations |
|
$ |
829,000 |
|
Awarded government grants for installation of EV charging stations |
|
|
638,000 |
|
| |
|
$ |
1,467,000 |
|
|
|
Car Charging Group Inc [Member]
|
|
| Business Acquisition [Line Items] |
|
| Summary the preliminary fair value of assets acquired and liabilities assumed |
|
|
April 3, 2013 |
|
Cash |
|
$ |
652 |
|
Intangible assets |
|
|
891,408 |
|
Current liabilities |
|
|
(114 |
) |
Net identifiable assets |
|
|
891,946 |
|
Total consideration given |
|
$ |
891,946 |
|
|
| Schedule of fair value of intangible assets pending finalization of a third party valuation |
| |
|
April 3, 2013
|
|
|
Provider agreements for locations awaiting installation of EV charging stations
|
|
$
|
441,408
|
|
|
Trademark
|
|
|
300,000
|
|
|
Present value of EV charging stations to be acquired in October 2016
|
|
|
150,000
|
|
|
|
|
$
|
891,408
|
|
|
|
350 Green Acquisition [Member]
|
|
| Business Acquisition [Line Items] |
|
| Summary the preliminary fair value of assets acquired and liabilities assumed |
| |
|
April 22, 2013 |
|
Cash |
|
$ |
33,632 |
|
Fixed assets, net |
|
|
4,137,166 |
|
Amortizable intangible assets |
|
|
1,792,133 |
|
Current liabilities |
|
|
(4,321,365 |
) |
Deferred revenue |
|
|
(2,527,402 |
) |
Net identifiable liabilities |
|
|
|
) |
Goodwill |
|
|
2,050,361 |
|
Total consideration given |
|
$ |
1,164,525 |
|
|