General form of registration statement for all companies including face-amount certificate companies

Acquisitions (FY) (Tables)

v3.20.4
Acquisitions (FY) (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Halo Acquisition [Member]    
Acquisitions [Abstract]    
Assets and Liabilities Acquired
The preliminary purchase price allocation is summarized as follows:

Dollars in thousands
     
Total purchase price
 
$
38,244
 
Assets
       
Property and equipment
   
260
 
Accounts receivable
   
5,540
 
Inventories
   
5,160
 
Intangible assets
   
14,690
 
Other assets
   
329
 
Total assets
   
25,979
 
Liabilities
       
Accounts payable
   
4,628
 
Accrued liabilities
   
1,553
 
Long term liability
   
168
 
Total liabilities
   
6,349
 
Net assets acquired
   
19,630
 
Goodwill
 
$
18,614
 
The preliminary purchase price allocation is summarized as follows:

Dollars in thousands
     
Total purchase price
 
$
38,244
 
Assets and liabilities acquired:
       
Assets
       
Property and equipment
   
260
 
Accounts receivable
   
5,540
 
Inventories
   
5,160
 
Intangible assets
   
14,690
 
Other assets
   
329
 
Total assets
   
25,979
 
Liabilities
       
Accounts payable
   
4,628
 
Accrued liabilities
   
1,553
 
Long term liability
   
168
 
Total liabilities
   
6,349
 
Net assets acquired
   
19,630
 
Goodwill
 
$
18,614
 
Pro Forma Information (Unaudited)  
The following pro forma results reflect only pro forma adjustments for additional interest expense to fund the Halo Acquisition, amortization of deferred financing costs related to short term loan and line of credit, reduction in interest expense associated with the repayment of the Halo debt on the Halo Acquisition Date, amortization of identifiable intangible assets associated with the Halo Acquisition, share-based compensation expense related to stock options granted and effects of adjustments made to carrying values of acquired assets and liabilities. However, pro forma results do not include any anticipated synergies from the acquisition of Halo and accordingly, are not necessarily indicative of the results that would have occurred if the Halo Acquisition had occurred on the dates indicated or that may result in the future.

Dollars in thousands
 
Twelve Months ended December 31,
 
   
2019
   
2018
 
Net revenues
 
$
48,152
   
$
51,388
 
                 
Net loss per share attributable to common stockholders
 
$
192,592
   
$
25,958
 
TruPet, LLC [Member]    
Acquisitions [Abstract]    
Assets and Liabilities Acquired
On May 6, 2019, the fair value of assets and liabilities acquired was:

Dollars in thousands
 
Better Choice
Company
   
Bona Vida
   
Total
 
Total purchase price
 
$
37,949
   
$
108,620
   
$
146,569
 
Net Assets (Liabilities) Acquired:
                       
Assets
                       
Cash and cash equivalents
   
7
     
384
     
391
 
Restricted cash
   
     
25
     
25
 
Accounts receivable
   
     
69
     
69
 
Inventories
   
     
95
     
95
 
Prepaid expenses and other current assets
   
32
     
348
     
380
 
Intangible assets
   
986
     
     
986
 
Other assets
   
     
74
     
74
 
Total assets
   
1,025
     
995
     
2,020
 
Liabilities
                       
Warrant derivative liability
   
(2,130
)
   
     
(2,130
)
Accounts payable & accrued liabilities
   
(544
)
   
(153
)
   
(697
)
Total liabilities
   
(2,674
)
   
(153
)
   
(2,827
)
Net assets (liabilities) acquired
   
(1,649
)
   
842
     
(807
)
Loss on acquisitions
 
$
(39,598
)
 
$
(107,778
)
 
$
(147,376
)
On May 6, 2019, the fair value of the following assets and liabilities were acquired resulting in the total loss of approximately $147.4 million:

Dollars in thousands
 
Better Choice
Company
   
Bona Vida
   
Total
 
Total Purchase Price
 
$
37,949
   
$
108,620
   
$
146,569
 
Net Assets (Liabilities) Acquired:
                       
Assets
                       
Cash and cash equivalents
   
7
     
384
     
391
 
Restricted cash
   
-
     
25
     
25
 
Accounts receivable
   
-
     
69
     
69
 
Inventories
   
-
     
95
     
95
 
Prepaid expenses and other current assets
   
32
     
348
     
380
 
Intangible assets
   
986
     
-
     
986
 
Other assets
   
-
     
74
     
74
 
Total Assets
   
1,025
     
995
     
2,020
 
Liabilities
                       
Warrant derivative liability
   
(2,130
)
   
-
     
(2,130
)
Accounts payable & accrued liabilities
   
(544
)
   
(153
)
   
(697
)
Total Liabilities
   
(2,674
)
   
(153
)
   
(2,827
)
Net Assets (Liabilities) Acquired
   
(1,649
)
   
842
     
(807
)
Loss on Acquisitions
 
$
(39,598
)
 
$
(107,778
)
 
$
(147,376
)