Blink Charging Co. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2021

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		1,322
Trade name		343
Customer relationships		1,800
Favorable leases		292
Internally developed technology		1,233
Non-compete agreements		148
Other liabilities		(144	)
Other assets		283
Debt-free net working capital deficit		(529	)

Fair Value of Identified Net Assets		4,748

Remaining Unidentified Goodwill Value	$	19,027

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


Current assets:
Cash	$	245
Accounts receivable		1,927
Prepaid expenses and other current assets		372
Inventory		1,359

Total current assets		3,903

Less current liabilities:
Accounts payable and accrued expenses		4,131
Deferred revenue		301

Total current liabilities		4,432

Debt free net working capital deficit	$	(529	)

SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

	For the Years Ended December 31,
	2021			2020
	(Unaudited)			(Unaudited)
Revenues	$	23,882		$	10,771
Net loss	$	(55,942	)	$	(20,255	)

BlueLA Carsharing, LLC [Member]

Business Acquisition [Line Items]

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The aggregate purchase price was allocated to the assets acquired and liabilities assumed as follows:

Purchase price allocation

Purchase Consideration:
Cash	$	-
Assumed liabilities		88

Total Purchase Consideration	$	88

Less:
Right of use assets		598
Debt-free net working capital deficit		(286	)
Non-current portion of lease liabilities		(371	)

Fair Value of Identified Net Liabilities		(59	)

Remaining Unidentified Goodwill Value	$	147

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

Current assets:
Cash	$	3
Accounts receivable		73
Prepaid expenses and other current assets		88

Total current assets	$	164

Less current liabilities:
Accounts payable		163
Current portion of lease liabilities		227
Accrued expenses and other current liabilities		60

Total current liabilities	$	450

Debt free net working capital deficit	$	(286	)

SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

	For the Year Ended December 31,
	2020			2019
	(Unaudited)			(Unaudited)
Revenues	$	6,699		$	3,337
Net loss	$	(20,511	)	$	(18,323	)

U-Go Stations, Inc [Member]

Business Acquisition [Line Items]

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

At the date of acquisition, the purchase consideration consisted of the Company’s common stock. The aggregate purchase price was allocated to the assets acquired and liabilities assumed as follows:

Purchase price allocation

Purchase Consideration:
Share consideration	$	1,279

Total Purchase Consideration	$	1,279

Less:
Fixed assets		418
Notes payable		(165	)
Debt-free net working capital deficit		(388	)

Fair Value of Identified Net Assets		(135	)

Remaining Unidentified Goodwill Value	$	1,414

BLINK CHARGING CO. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 and 2019

(in thousands except for share and per share amounts)

3. BUSINESS COMBINATION – CONTINUED

U-GO STATIONS, INC. ACQUISITION – CONTINUED

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

Current assets:
Cash	$	30
Accounts receivable		3
Prepaid expenses and other current assets		7

Total current assets	$	40

Less current liabilities:
Accounts payable and accrued expenses		428

Total current liabilities	$	428

Debt free net working capital deficit	$	(388	)

SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

	For the Year Ended December 31,
	2020			2019
	(Unaudited)			(Unaudited)
Revenues	$	6,468		$	2,832
Net loss	$	(18,022	)	$	(9,734	)