Quarterly report pursuant to Section 13 or 15(d)

Business Acquisition (Tables)

v3.22.2.2
Business Acquisition (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisition Purchase Price Allocation

The following table summarizes the purchase price allocation (in thousands):

 

       
    June 30, 2022  
Assets        
Current assets        
Cash and cash equivalents   $ 303  
Accounts and other receivables, net of allowance     193  
Prepaid expenses and other receivables, net of allowance     14  
Total current assets     510  
         
Property and equipment, net     599  
Operating lease right of use asset     521  
Other long-term assets     7  
Total assets     1,637  
         
Liabilities and net assets acquired        
Current liabilities        
Accounts payable     105  
Accrued liabilities     241  
Current portion of debt     6  
Current portion of related party debt     242  
Current portion of operating lease liability     179  
Total current liabilities     773  
         
Debt, net of current portion     393  
Related party debt, net of current portion     107  
Operating lease liability, net of current portion     342  
Total liabilities     1,615  
         
Net assets acquired   $ 22  
Schedule of Proforma Unaudited Revenue and Net Loss

The following proforma unaudited revenue and net loss are presented as if the acquisition had been included in the consolidated results of the Company for the nine months ended September 30, 2022 (in thousands).

 

         
   

Nine Months Ended

September 30, 2022

  
Revenue   $ 1,385  
Net loss   $ (8,097 )