Quarterly report pursuant to Section 13 or 15(d)

Cancer Genetics, Inc. Merger (Tables)

v3.21.1
Cancer Genetics, Inc. Merger (Tables)
3 Months Ended
Mar. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Preliminary Allocation of the Purchase Price Consideration

The following details the preliminary allocation of the purchase price consideration:

 

   

2021 

 
Assets acquired:      
Cash and equivalents   $ 30,163  
Accounts receivable     705  
Other current assets     806  
Intangible assets     9,500  
Fixed assets     416  
Goodwill     22,164  
Long-term prepaid expenses and other assets     1,381  
Total assets acquired   $ 65,135  
         
Liabilities assumed:        
Accounts payable and accrued expenses   $ 3,258  
Obligation under operating lease     198  
Obligation under finance lease     106  
Deferred revenue     1,293  
Income taxes payable    

360

 
Total liabilities assumed   $ 5,215  
         
Net assets acquired:   $ 59,920  
Schedule of Unaudited Pro Forma Combined Financial Information

The following presents the unaudited pro forma combined financial information as if the Merger had occurred as of January 1, 2020:

 

    March 31, 2021     March 31, 2020  
    For the three months ended  
    March 31, 2021     March 31, 2020  
Total revenues:   $ 1,841     $ 1,594  
Net loss   $ (6,495 )   $ (3,152 )
Pro forma loss per common share, basic and diluted   $ (.21 )   $ (.11 )
Pro forma weighted average number of common shares outstanding, basic and diluted    

28,985

     

28,847