Kubient, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Recognized identified assets acquired and liabilities asumed


Purchase Consideration:
Cash	$	500,000
Contingent consideration		613,000

Total Purchase Consideration		1,113,000

Less:
Customer contracts and related customer relationships (1)		580,000
Restrictive covenant agreements (1)		70,000
Debt-free net working capital		—

Fair Value of Identified Net Assets		650,000

Remaining Unidentified Goodwill Value	$	463,000

(1)

As part of the preliminary valuation analysis, the Company identified (i) customer contracts and related customer relationships and (ii) restrictive covenant agreements as intangible assets. The fair value of the identifiable intangible assets is determined using the “income approach”. The customer contracts and related customer relationships have an estimated useful life of five (5) years and the restrictive covenant agreements have an estimated useful life of three (3) years.

Schedule of Components of debt free net working capital deficit


Current Assets:
Prepaid expenses and other current assets	$	109,083
Other receivables		526,070

Total Current Assets		635,153

Current Liabilities:
Deferred revenue		628,418
Accrued expenses and other current liabilities		6,735

Total Current Liabilities		635,153

Debt-Free Net Working Capital	$	—

MediaCrossing Inc [Member]

Business Acquisition [Line Items]

Schedule of Business acquisition, Pro Forma information


	For the Years Ended
	December 31,
	2021		2020
Net Revenues	$	5,439,093	$	7,527,651
Net Loss	$	(12,510,391)	$	(9,032,939)