| Schedule of Business Acquisition |
The following table summarizes the consideration paid for ADGE and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date, as well as the fair value at the acquisition date of the noncontrolling interest in American DG New York, LLC, a consolidated subsidiary of ADGE.
|
|
|
|
|
|
Consideration |
|
|
Tecogen common stock - 4,662,937 shares |
|
$ |
18,745,007 |
|
Assumed fully vested equity awards |
|
114,896 |
|
|
|
$ |
18,859,903 |
|
|
|
|
Recognized amounts of identifiable assets acquired and liabilities assumed |
|
|
Financial assets |
|
$ |
1,542,137 |
|
Inventory |
|
75,374 |
|
Prepaid and other current assets |
|
358,628 |
|
Property, plant and equipment |
|
12,186,664 |
|
Investment securities |
|
519,568 |
|
Favorable contract asset |
|
1,561,739 |
|
Financial liabilities |
|
(1,912,859 |
) |
Unfavorable contract liability |
|
(8,341,922 |
) |
Other liabilities |
|
(939 |
) |
Total identifiable net assets |
|
5,988,390 |
|
Noncontrolling interest in American DG New York, LLC |
|
(453,272 |
) |
Goodwill |
|
13,324,785 |
|
|
|
$ |
18,859,903 |
|
|
| Pro Forma Information |
The pro forma financial information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal 2016.
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|
|
|
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|
|
|
|
|
|
|
Year ended December 31, |
|
|
2017 |
|
2016 |
Total revenues |
|
$ |
36,232,650 |
|
|
$ |
29,674,375 |
|
Net income (loss) |
|
113,255 |
|
|
(253,132 |
) |
Basic earnings (loss) per share |
|
$ |
0.01 |
|
|
$ |
(0.01 |
) |
Diluted earnings (loss) per share |
|
$ |
0.01 |
|
|
$ |
(0.01 |
) |
|