Note 3  Acquisition Purchase of Net Assets of Fulton Technologies, Inc. and Mill City Communications, Inc. On December 27, 2018, the Company entered into a purchase agreement to acquire substantially all of the net assets of Fulton Technologies and Mill City. Fulton provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers. These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G. This agreement closed on January 4, 2019. This acquisition is part of the overall growth strategy that will further diversify the Company into the broader telecommunications industry by providing wireless infrastructure services to the wireless telecommunications market. The purchase price for the net assets of Fulton was $1.3 million. The purchase price was allocated to the major categories of assets and liabilities based on their estimated fair values as of January 4, 2019, the effective date of the acquisition. Any remaining amount was recorded as goodwill. The following summarizes the final purchase price allocation of the fair value of the assets acquired and the liabilities assumed at January 4, 2019: Assets acquired: (in thousands) Accounts receivable $ 1,307 Prepaid expenses 341 Property and equipment, net 1,201 Intangible assets 244 Goodwill 16 Other assets 35 Total assets acquired 3,144 Liabilities assumed: Accounts payable 1,250 Accrued expenses 455 Capital lease obligation 175 Total liabilities assumed 1,880 Net purchase price $ 1,264 The acquired intangible asset of approximately $0.2 million consists of customer relationships. The unaudited financial information in the table below summarizes the combined results of operations of ADDvantage Technologies Group and Fulton Technologies for the three and nine months ended June 30, 2019 and June 30, 2018, on a pro forma basis, as though the companies had been combined as of October 1, 2017. The pro forma earnings for the three months ended June 30, 2018 were adjusted to include intangible amortization expense of $6 thousand. The pro forma earnings for the nine months ended June 30, 2019 and June 30, 2018 were adjusted to include intangible amortization expense of $18 thousand. The $0.2 million of acquisition-related expenses were excluded from the nine months ended June 30, 2019 and included in the nine month period ending June 30, 2018 as if the acquisition occurred at October 1, 2017. The pro forma net loss amounts exclude gains from the disposal of assets as well as interest expense and extinguishment of debt related to assets and debt not acquired or assumed from Fulton. The unaudited pro forma financial information does not purport to be indicative of the Companys combined results of operations which would actually have been obtained had the acquisition taken place on October 1, 2017 nor should it be taken as indicative of our future consolidated results of operations. Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 (in thousands) Total net sales $ 17,559 $ 12,560 $ 41,078 $ 36,592 Loss from continuing operations $ (58 ) $ (1,223 ) $ (2,916 ) $ (5,877 ) Net loss $ (1,485 ) $ (2,381 ) $ (4,184 ) $ (6,353 )