Annual report pursuant to Section 13 and 15(d)

BUSINESS COMBINATIONS (Tables)

v3.22.4
BUSINESS COMBINATIONS (Tables)
 12 Months Ended
Dec. 31, 2022
Sema Connect, Inc [Member]  
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 SemaConnect:

 

         
Purchase Consideration:        
Cash   $ 46,136  
Deferred cash consideration     40,600  
Common stock     113,837  
         
Total Purchase Consideration   $ 200,573  
         
Less:        
Trade name   $ 1,831  
Customer relationships     15,055  
Internally developed technology     3,607  
Non-compete agreements     241  
Property and equipment     614  
Right of use asset     1,092  
Other assets     449  
Deferred revenue- non current portion     (702 )
Lease liability- non current portion     (611 )
Debt-free net working capital     4,558  
         
Fair Value of Identified Net Assets   $ 26,134  
         
Remaining Unidentified Goodwill Value   $ 174,439  
The components of debt free net working capital are as follows:

 

Current assets:      
Cash   $ 3,753  
Restricted cash     8,103  
Accounts receivable     5,515  
Inventory     5,472  
Prepaid expenses and other current assets     1,309  
         
Total current assets   $ 24,152  
         
Less current liabilities:        
Accounts payable   $ 2,305  
Merger consideration payable     8,103  
Current portion of lease liability     481  
Current portion of notes payable     186  
Deferred revenue     2,677  
Accrued expenses and other current liabilities     5,842  
         
Total current liabilities   $ 19,594  
         
Debt free net working capital   $ 4,558  
 
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

                 
    For the Years Ended
December 31,		  
    2022     2021  
    (Unaudited)     (Unaudited)  
Revenues   $ 70,078     $ 33,390  
Net loss   $ (102,444 )   $ (69,012 )
Electric Blue Limited [Member]  
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 EB:

 

         
Purchase Consideration:        
Cash   $ 12,651  
Common stock     2,852  
Contingent consideration     3,814  
         
Total Purchase Consideration   $ 19,317  
         
Less:        
Trade name   $ 500  
Customer relationships     4,856  
Internally developed technology     515  
Non-compete agreements     1,992  
Property and equipment     4,325  
Deferred revenue- non current portion   (2,689 )
Debt-free net working capital deficit   (625 )
         
Fair Value of Identified Net Assets   $ 8,874  
         
Remaining Unidentified Goodwill Value   $ 10,443  

 

 

 

BLINK CHARGING CO.

 

Notes to Consolidated Financial Statements

(in thousands except for share and per share amounts)

 

3. BUSINESS COMBINATIONS – CONTINUED

 

ELECTRIC BLUE LIMITED – CONTINUED

 

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

 

Current assets:        
Cash   $ 1,291  
Accounts receivable     1,618  
Prepaid expenses and other current assets     508  
Total current assets   $ 3,417  
         
Less current liabilities:        
Accounts payable   $ 647  
Current portion of lease liabilities     22  
Current portion of notes payable     611  
Accrued expenses and other current liabilities     2,762  
         
Total current liabilities   $ 4,042  
         
Debt free net working capital deficit   $ (625 )
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

                 
    For the Years Ended
December 31,		  
    2022     2021  
    (Unaudited)     (Unaudited)  
Revenues   $ 62,002     $ 25,076  
Net loss   $ (92,705 )   $ (60,076 )
Blue Corner [Member]  
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 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  
Revenues   $ 23,882     $ 10,771  
Net loss   $ (55,942 )   $ (20,255 )
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 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  
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 Years Ended
December 31,		  
    2020  
Revenues   $ 6,468  
Net loss   $ (18,022 )
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 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  
    (Unaudited)  
Revenues   $ 6,699  
Net loss   $ (20,511 )