Quarterly report pursuant to Section 13 or 15(d)

Acquisitions and Divestitures (Tables)

v3.22.1
Acquisitions and Divestitures (Tables)
3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Summary of Business combination Acquired Assets and Liabilities Purchase Price

 

    AdRizer  
Cash paid   $

37,936,323

 
Fair value of deferred acquisition price     23,250,000  
Purchase consideration   $ 61,186,323  

 

    AdRizer  
Cash and cash equivalents   $ 3,085,747  
Accounts receivable     5,564,539  
Other current assets     822,311  
Property and equipment     191,654  
Intangible assets, including goodwill     58,864,751  
Total assets acquired     68,529,002  
         
Accounts payable and accrued expenses     7,342,678  
Total liabilities assumed     7,342,678  
    $ 61,186,323  
Schedule of Business Combination Revenue and Earnings

The activity of AdRizer is included in the Company’s consolidated financial statements from the acquisition date to March 31, 2022. The amounts of revenue and earnings of AdRizer from the acquisition date of February 11, 2022 to March 31, 2022 are as follows:

         
Revenue   $ 7,653,085  
Net income     147,618  

 

             
    For the Three Months  
    Ended March 31,  
    2022     2021  
    (Unaudited)     (Unaudited)  
Revenues, net     14,732,998       11,767,354  
Net loss attributable to Vinco Ventures, Inc.     (372,965,693 )     (62,374,954 )
 
Summary of the Aggregate Purchase Price Consideration Paid

The following table summarizes the aggregate purchase price consideration paid for the acquisition of the asset:

 

    April 17, 2021  
       
Fair value of shares reserved for future issuance and earn out shares   $ 7,400,000  
Fair value of assumed notes payable     151,987  
Total     7,551,987  
Schedule of Loss on Income Operations of Discontinued Operations

The table below shows the assets that the Company transferred to BTL and the components of the loss on discontinued operations:

 

   

April 21, 2021

 
Cash received from buyer     2,529,565  
         
Accounts receivable     (293,005 )
Inventory     (665,522 )
Prepaid expenses     (160,666 )
Intangible assets     (5,540,952 )
Loss on divestiture     4,130,580  
Operating loss of discontinued operations     178,200  
Bankruptcy costs     803,320  
Loss on discontinued operations     5,112,100