Marpai, Inc. Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

Acquisition

Fair Value

Trademarks

Customer relationships

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Assets Acquired and Liabilities Assumed at their Acquisition Date Fair Value

The following table represents the allocation of the purchase consideration among Maestro’s assets acquired and liabilities assumed at their acquisition-date fair values:


	December 31, 2022			Adjustment			December 31, 2023
Purchase Price
Purchase Price	$	19,900,000					$	19,900,000

Purchase Price Allocation

Cash	$	17,081,602					$	17,081,602
Restricted cash		16,306,547						16,306,547
Accounts receivable		321,198						321,198
Unbilled receivable		646,189						646,189
Prepaid expenses and other current assets		1,751,371						1,751,371
Property and equipment		921,680			(159,920	)		761,760
Operating lease - right of use assets		2,555,375						2,555,375
Goodwill		3,454,143			198,140			3,652,283
Trademarks		800,000						800,000
Customer relationships		840,000						840,000
Security deposits		1,240,889						1,240,889
Account payable		(150,328	)					(150,328	)
Accrued expenses		(4,554,280	)		(38,220	)		(4,592,500	)
Accrued fiduciary obligations		(16,306,547	)					(16,306,547	)
Operating lease liabilities		(4,816,490	)					(4,816,490	)
Deferred revenue		(191,349	)					(191,349	)
Total fair value of net assets acquired and liabilities assumed	$	19,900,000		$	—		$	19,900,000

Summary of Identifiable Intangible Assets at Estimated Fair Values and Useful Lives with Expected Amortization Periods

The following table summarizes the estimated fair values of Maestro’s identifiable intangible assets, their estimated useful lives and expected amortization periods:

Summary of Unaudited Pro Forma Information

The following unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred on January 1, 2022:



	Year Ended December 31, 2022
	(pro forma)
Revenue	$	40,406,192
Net loss		(39,774,661	)