Marpai, Inc. Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2021


Purchase Price
Equity value	$	13,262,000
Cash acquired		(4,762,000)
Total purchase price paid, net of cash acquired	$	8,500,000

Purchase Price Allocation
Restricted cash	$	6,622,035
Accounts receivable		92,231
Prepaid expenses and other current assets		131,413
Property and equipment		1,601,990
Intangible assets		1,010,000
Capitalized software		1,230,000
Operating lease - right of use assets		1,532,925
Goodwill		1,676,239
Trademarks		1,860,000
Patents and patent applications		700,000
Customer relationships		3,370,000
Security deposits		54,869
Account payable		(925,608)
Accrued expenses		(1,267,708)
Accrued fiduciary obligations		(4,070,908)
Operating lease liabilities		(1,716,246)
Deferred tax liability		(2,151,012)
Deferred revenue		(1,205,220)
Other long-term liabilities		(45,000)
Total fair value of net assets acquired and liabilities assumed	$	8,500,000


			Useful
	Acquisition		Life in
	Fair Value		Years
Trademarks	$	1,860,000	10 Years
Intangible assets		1,010,000	5 Years
Customer relationships		3,370,000	7 Years
Patents and patent applications		700,000	(*)

(*)	Patents which have yet to be approved by US Patent Office. Useful life is determined upon placement into service after approval.