Quarterly report pursuant to Section 13 or 15(d)

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following summarizes the purchase price allocation for the current and prior year acquisitions:

	Prairie Tech			CMS			BSS		CTS		PSI (Preliminary)

Cash consideration	$	185,000		$	410		$	-	$	-	$	145,703
Note payable		310,000			170,000			230,000		130,000		450,000
Total purchase price	$	495,000		$	170,410		$	230,000	$	130,000	$	595,703

Deposits and other assets	$	32,896		$	-		$	-	$	-	$	-
Customer list		406,000			274,115			230,000		130,000		695,641
Operating lease right-of-use assets		64,863			-			-		-		-
Goodwill		107,852			13,000			-		-		-
Total assets acquired		611,611			287,115			230,000		130,000		695,641

Deferred revenue		(51,748	)		(111,705	)		-		-		(99,938	)
Contingent liability		-			(5,000	)		-		-		-
Operating lease liability		(64,863	)		-			-		-		-
Net assets acquired	$	495,000		$	170,410		$	230,000	$	130,000	$	595,703

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma information does not purport to present what the Company’s actual results would have been had the acquisitions of Prairie Technology Solutions Group, LLS (“PT”), acquired July 31, 2020, Computer Management Services, LLC (CMS”), acquired October 1, 2020, Business Software Solutions (“BSS”), acquired December 1, 2020, CT-Solution, Inc. (“CTS”), acquired April 1, 2021, and PeopleSense, Inc. (“PSI), acquired May 1, 2021, occurred on January 1, 2020, nor is the financial information indicative of the results of future operations. The following table represents the unaudited condensed consolidated pro forma results of operations for the three and nine months ended September 30, 2020 as if the acquisitions occurred on January 1, 2020. For the three and nine months ended September 30, 2020, operating expenses have been increased for the amortization expense of expected definite lived intangible assets and interest on the notes payable.

Pro Forma	Three Months Ended September 30, 2020
Net revenues	$	10,793,456
Cost of revenues		6,352,929
Operating expenses		4,320,048
Income (loss) before taxes		116,420
Net income (loss)		79,629
Basic and diluted income (loss) per common share	$	0.02

Pro Forma	Nine Months Ended September 30, 2021		Nine Months Ended September 30, 2020
Net revenues	$	31,542,459	$	32,195,243
Cost of revenues		18,286,990		18,720,902
Operating expenses		12,750,648		13,438,332
Income (loss) before taxes		504,821		42,715
Net income (loss)		342,881		81,647
Basic and diluted income (loss) per common share	$	0.07	$	0.02