Note 3. Acquisitions 123Wish, Inc. In February 2018 the Company completed the acquisition of a 51% controlling interest in 123 Wish, Inc. (formerly Once in a Lifetime LLC) a Delaware corporation in exchange for the issuance of 1,333,334 fully paid and non-assessable shares of common stock with a fair value of $1.39 million. In addition, the Company shall issue fully paid and non-assessable shares of common stock equal to 2.5 times of the net, after tax, earnings of 123 Wish for the nine month period after the date of acquisition and fully paid and non-assessable shares of common stock equal to 4.5 times the net, after tax, earnings of 123 Wish for the second six month period after the date of acquisition. 123 Wish, Inc. has proprietary applications which use the social media aspect of the internet. The following table summarizes the consideration paid and the fair value of the assets acquired and liabilities assumed (In thousands): Consideration Paid: Common stock $ 1,387 Non controlling interest 1,353 $ 2,740 Fair values of identifiable assets acquired and liabilities assumed: Assets acquired: Cash $ 14 Other intangible assets 2,307 Goodwill 419 Net Assets Acquired $ 2,740 The consideration paid was 1,333,334 common shares valued at $1.04 per share. Separately identifiable intangible assets include technology which were valued by management using discounted cash flow and replacement cost approaches. As of December 31, 2018, the Company has estimated that no additional share amounts will need to be issued as contingent consideration and therefore is not included in the Companys allocation of the purchase price in the table above. Love Media House, Inc. (formerly C-Rod, Inc.) In March 2018 the Company completed the acquisition of 100% ownership of Love Media House, Inc. (LMH) a Florida corporation in exchange for $150,000 cash and 3,376,147 fully paid and non-assessable shares of common stock with a fair value of $1.9 million. LMH is in the music and video content business. The financial statements of LMH have been included in the consolidated financial statements from the date of acquisition. The following table summarizes the consideration paid and the fair value of the assets acquired and liabilities assumed (In thousands): Consideration Paid: Cash $ 150 Common stock 1,885 $ 2,035 Fair values of identifiable assets acquired and liabilities assumed: Assets acquired: Cash $ 5 Other intangible assets 900 Goodwill 1,172 Total assets acquired 2,077 Liabilities assumed: Accounts payable 42 Total Liabilities Assumed 42 Net Assets Acquired $ 2,035 Separately identifiable intangible assets were customer relationships and were valued by management using discounted cash flow and replacement cost approaches. As of December 31, 2018, the Company has estimated that no additional share amounts will need to be issued as contingent consideration and therefore is not included in the Companys allocation of the purchase price in the table above. Banana Whale Studios PTE Ltd In May 2018 the Company completed the acquisition of 51% ownership of Banana Whale Studios PTE Ltd (BWS) a Singapore corporation. The acquisition of Banana Whale was based on an earnout formula solely and should Banana Whale fail to reach forecasted profit numbers during the first 24 months then some, or all of the shares allocated would be refundable to the Company. At the time of acquisition 7,383,000 shares of common stock were placed in escrow for payment of the confirmed earn out. However, based on the terms of the ultimate disposition (note 4) of BWS no shares were ultimately transferred or other consideration paid. The following table summarizes the consideration paid and the fair value of the assets acquired and liabilities assumed in May 2018 (In thousands): Consideration Paid: Common stock $  Non-controlling interest 894 $ 894 Fair values of identifiable assets acquired and (liabilities) assumed: Assets acquired: Cash $ 42 Accounts receivable 11 Equipment 37 Other receivable 2,022 Liabilities assumed: Accounts payable (288 ) $ 1,824 Bargain purchase gain $ 930 On February 4, 2019 the Company sold its holding in Banana Whale for $2.0 million of which $1.5 million was in cash on completion and the balance was a note receivable for $500,000 payable by December 31, 2019. The note is secured by a pledge of Banana Whale shares held in the name the four founding shareholders of Banana Whale. The pledged shares are held in escrow pending the payout of the Note. Browning Production &amp; Entertainment In October 2018 the Company completed the acquisition of 51% ownership of Browning Productions &amp; Entertainment, Inc. (Browning Productions) a Florida corporation in exchange for $10,000 cash and an allocation of 300,000 fully paid shares of common stock with a fair value of $101,100. Of these shares, 150,000 have been issued with the remaining balance of 150,000 to be issued upon receipt of audited financial statements of Browning Productions. The Company had previously paid a deposit of $10,000 cash and 35,000 fully paid shares of common stock with a fair value of $18,200. The following table summarizes the consideration paid and the fair value of the assets acquired and liabilities assumed as of October 22, 2018 (In thousands): Consideration Paid: Common stock $ 119 Cash 20 Non-controlling interest 134 $ 273 Fair values of identifiable assets acquired and (liabilities) assumed: Assets acquired: Cash $  Accounts receivable 43 Other assets 23 Equipment 2 Goodwill 622 Liabilities assumed: Accounts payable (42 ) Deferred revenue (72 ) Loans and advances (303 ) Net Assets Acquired $ 273