Quarterly report pursuant to Section 13 or 15(d)

T R Miller Acquisition (Tables)

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T R Miller Acquisition (Tables)
 3 Months Ended
Mar. 31, 2024
T R Miller Acquisition [Abstract]  
Schedule of Fair Value of Identifiable Assets Acquired The following table summarizes the estimated fair value of the total consideration required to be paid pursuant to the T R Miller Purchase Agreement as of the T R Miller Closing Date:
Cash   $ 1,000  
Cash adjustment for working capital     1,123  
Fair value of earn-out payments     467  
Present value of installment payments     951  
Total consideration   $ 3,541  

 

The following table summarizes the purchase price allocations relating to the T R Miller Acquisition:
Accounts receivable   $ 1,622  
Prepaid expense     5  
Inventory     882  
Customer relationships     1,170  
Goodwill     720  
Right of use asset - office leases     837  
Accounts payable and accrued expenses     (591 )
Unearned revenue     (285 )
Lease liability     (819 )
Total consideration   $ 3,541  
Schedule of Pro Forma Financial Information The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date:
    March 31,
2023		  
Sales   $ 18,952  
Costs of sales     12,765  
Gross profit     6,187  
Operating expenses     6,881  
Loss from operations     (694 )
Other income (expense)        
Other income     1  
Interest income (expense), net     142  
Realized gain (loss) on investments     12  
      155  
Loss before taxes     (539 )
Provision for income taxes     (364 )
Net loss     (175 )
         
Net loss per share - basic & diluted   $ (0.01 )
Weighted average shares outstanding - basic & diluted     18,574,748