Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.1
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2018
Prive Technologies, Inc. [Member]  
Business Acquisition [Line Items]  
Schedule of Assets and Liabilities Acquired
The purchase price for the miners was recorded as follow:

Cash consideration
 
$
11,000,000
 
Fair value of common stock
   
8,480,000
 
Other expenses
   
2,000
 
   
$
19,482,000
 
 
Logical Brokerage Corp [Member]  
Business Acquisition [Line Items]  
Schedule of Assets and Liabilities Acquired
On March 26, 2018, the CFTC license was recorded as follows:
 
Cash, net of cash acquired
 
$
500,000
 
Deferred tax liability
   
142,709
 
Non-controlling interest
   
40,541
 
Legal costs
   
16,917
 
Intangible rights acquired
 
$
700,167
 
Tess, Inc [Member]  
Business Acquisition [Line Items]  
Schedule of Assets and Liabilities Acquired
The following is the allocation of the assets and liabilities acquired:

Cash
 
$
198,000
 
Accounts receivable and prepaid expenses
   
9,000
 
 
       
In-process research and development
   
720,000
 
Goodwill
   
799,000
 
Accounts payable
   
(21,000
)
Deferred income tax liability
   
(186,000
)
Non-controlling interest
   
(883,000
)
Purchase price
 
$
636,000
 
Schedule of Tess Related Party Transactions
The following table provides the total amount of transactions that have been entered into with Tess related parties and outstanding balances with Tess related parties as of and for the years ended December 31, 2018 and 2017:
 
Services to Tess provided by:
 
December 31, 2018
   
December 31, 2017
 
Powercases Inc.
 
$
655,236
   
$
99,671
 
JLM Strategic Marketing
 
$
227,589
   
$
11,766
 
1038088 Ontario Limited
 
$
187,136
   
$
36,030
 
Cryptocash Inc.
 
$
-
   
$
2,252
 
2227470 Ontario Inc.
 
$
-
   
$
-
 
                 
(Payable) Receivable from:
               
Powercases Inc.
 
$
(37,250
)
 
$
-
 
JLM Strategic Marketing
 
$
(9,483
)
  $
-
 
1038088 Ontario Limited
 
$
(52,053
)
 
(36,030
)
Cryptocash Inc.
 
$
-
    $
(2,252
)
2227470 Ontario Inc.
 
$
-
    $
7,971
 
 
Kairos Global Technology, Inc [Member]  
Business Acquisition [Line Items]  
Schedule of Assets and Liabilities Acquired
The following is the allocation of the purchase consideration:
 
Cash
 
$
1,131,000
 
Equipment
   
10,333,000
 
Accounts payable and accrued expenses
   
(46,000
)
Deferred income tax liability
   
(2,122,000
)
Purchase price
 
$
9,296,000