Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 13. Subsequent Events

On November 4, 2020, the Company entered into a definitive agreement to acquire 100% of the membership interests in LEEDS, LLC (“LEEDS”), a New Jersey-based technology company. The purchase consideration includes $15.0 million in cash, $2.0 million in issued stock and a contingent earnout payable in cash for up to $5.0 million based on LEEDS’ revenues generated over a two-year period following the acquisition date. If the acquisition is completed, the Company will account for this acquisition as a business combination. The Company expects to use existing cash on hand to fund the acquisition.