| Schedule of purchase price allocation |
Assets Acquired: |
|
|
|
Cash |
|
$ |
3,669,000 |
|
Marketable securities |
|
|
605,000 |
|
Receivables |
|
|
141,000 |
|
Other assets (Note A) |
|
|
178,000 |
|
Property and equipment |
|
|
29,000 |
|
Trade name/trademarks (Note B) |
|
|
120,000 |
|
Customer relationships (Note B) |
|
|
1,270,000 |
|
Developed technology (Note C) |
|
|
1,380,000 |
|
Goodwill |
|
|
1,164,000 |
|
| |
|
|
8,556,000 |
|
Liabilities Assumed: |
|
|
|
|
Accounts payable |
|
|
69,000 |
|
Other current liabilities (Note D) |
|
|
380,000 |
|
| |
|
|
449,000 |
|
Purchase Price |
|
$ |
8,107,000 |
|
(A) |
Other current assets consist primarily of approximately $137,000 of prepaid expenses, $30,000 of other receivables and $11,000 of security deposits. |
(B) |
The trade name/trademarks and customer relationships are identifiable intangible assets that are being amortized over their useful life of seven years. |
(C) |
The developed technology is an identifiable intangible asset that is being amortized over their useful life of four years. |
(D) |
Other current liabilities consist primarily of approximately $136,000 of payroll liabilities and $167,000 of profit sharing liabilities. |
|