Quarterly report pursuant to Section 13 or 15(d)

Cancer Genetics, Inc. Merger (Tables)

v3.22.1
Cancer Genetics, Inc. Merger (Tables)
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Preliminary Allocation of the Purchase Price Consideration

    Preliminary     Adjustments     Final  
Assets acquired:                        
Cash and equivalents   $ 30,163     $ -     $ 30,163  
Accounts receivable     705       -       705  
Other current assets     806       227       1,033  
Intangible assets     9,500       -       9,500  
Fixed assets     416       (256 )     160  
Goodwill     22,164       216       22,380  
Long-term prepaid expenses and other assets     1,381       -       1,381  
Total assets acquired   $ 65,135     $ 187     $ 65,322  
                         
Liabilities assumed:                        
Accounts payable and accrued expenses   $ 2,670     $ 437     $ 3,107  
Current liabilities of discontinuing operations     588       (141 )     447  
Obligations under operating leases     198       -       198  
Obligations under finance leases     106       -       106  
Deferred revenue     1,293       (114 )     1,179  
Payroll and income taxes payable     360       5       365  
Total liabilities assumed   $ 5,215     $ 187     $ 5,402  
                         
Net assets acquired:   $ 59,920     $ -     $ 59,920  
Schedule of Proforma 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  
Total revenue   $ 1,841  
Net loss   $ (6,495 )
Pro forma loss per common share, basic and diluted   $ (.21 )
Pro forma weighted average number of common shares outstanding, basic and diluted     28,985