|6 Months Ended|
Jun. 30, 2019
|GTX Acquisition [Abstract]|
Note 5 – GTX Acquisition
On June 27, 2019, Inpixon completed its acquisition of certain assets of GTX, consisting of a portfolio of GPS technologies and intellectual property (the “Assets”).
The Assets were acquired for aggregate consideration consisting of (i) $250,000 in cash delivered at the closing and (ii) 1,000,000 shares of Inpixon’s restricted common stock of which 100,000 shares of common stock are subject to certain holdback restrictions and forfeiture for the purpose of satisfying indemnification claims.
The total recorded purchase price for the transaction was $900,000 which consisted of the cash paid of $250,000 and $650,000 representing the value of the stock issued upon closing.
A final valuation of the assets and purchase price allocation of GTX has not been completed as of the end of this reporting period. Consequently, the purchase price was preliminarily allocated based upon our best estimates at the time of this filing. These amounts are subject to revision upon the completion of formal studies and valuations, as needed, which we expect to occur during the third quarter of 2019.
Proforma information has not been presented as it has been deemed to be immaterial.