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XML - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.R15.htm
XML - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.R42.htm
EXCEL - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.Financial_Report.xls
10-Q - FORM 10-Q - WESTERN CAPITAL RESOURCES, INC.v326070_10q.htm
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EX-31.1 - EXHIBIT 31.1 - WESTERN CAPITAL RESOURCES, INC.v326070_ex31-1.htm
EX-31.2 - EXHIBIT 31.2 - WESTERN CAPITAL RESOURCES, INC.v326070_ex31-2.htm
EX-32.1 - EXHIBIT 32.1 - WESTERN CAPITAL RESOURCES, INC.v326070_ex32-1.htm
v2.4.0.6
Acquisitions
9 Months Ended
Sep. 30, 2012
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]
9. Acquisitions –

 

In February 2012, the Company acquired three Cricket corporate-owned stores. Two of the stores are located in McAllen, Texas and one in Laredo, Texas.

 

In May 2012, the Company acquired two Cricket dealer-owned stores in separate transactions. One was located in Omaha, Nebraska and the other in Spokane, Washington.

 

    Fair Value  
       
Inventory   $ 1,600  
Property and equipment     72,500  
Intangible assets     98,000  
Goodwill     278,700  
Other non-current assets     4,400  
    $ 455,200  

 

The results of the operations for the acquired locations have been included in the condensed consolidated financial statements since the date of the acquisitions. The following table presents the unaudited pro forma results of continuing operations for the three and nine months ended September 30, 2012 and 2011, as if the acquisitions had been consummated at the beginning of each period presented. The pro forma results of continuing operations are prepared for comparative purposes only and do not necessarily reflect the results that would have occurred had the acquisitions occurred at the beginning of the year presented or the results which may occur in the future.

 

    Three Months Ended 
September 30,
    Nine Months Ended 
September 30,
 
    2012     2011     2012     2011  
                         
Pro forma revenue   $ 6,312,000     $ 5,049,000     $ 20,081,000     $ 15,038,000  
Pro forma net income   $ 340,000     $ 389,000     $ 1,534,000     $ 1,204,000  
Pro forma net income (loss) per common share – basic and diluted   $ (0.03 )   $ (0.02 )   $ (0.01 )   $ (0.05 )

 

In April 2012 the Company executed an Asset Purchase Agreement to acquire one Cricket retail storefront for a purchase price of $160,000. The Company acquired the store on October 14, 2012. As a condition of the agreement, the Company opened one relocated Cricket retail storefront (opened September 2012) and will open two additional Cricket retail storefronts before November 30, 2012.