| Purchase Price and Allocation of Purchase |
A summary of the purchase price and the purchase
price allocations at fair value is below.
| Purchase price |
|
|
|
| Cash |
|
$ |
550,000 |
|
| 29,286 shares of common stock (1) |
|
|
290,716 |
|
| Secured promissory note |
|
|
50,000 |
|
| Total purchase price |
|
$ |
890,716 |
|
| |
|
|
|
|
| Allocation of purchase price |
|
|
|
|
| Cash |
|
$ |
201,482 |
|
| Accounts receivable |
|
|
234,561 |
|
| Inventories |
|
|
16,000 |
|
| Property and equipment |
|
|
10,381 |
|
| Operating lease right-of-use assets |
|
|
157,213 |
|
| Deposits |
|
|
5,968 |
|
| Intangible assets |
|
|
57,000 |
|
| Goodwill |
|
|
458,016 |
|
| Accounts payable and accrued liabilities |
|
|
(81,478 |
) |
| Operating lease liability |
|
|
(168,427 |
) |
| Purchase price |
|
$ |
890,716 |
|
|
| Purchase price |
|
|
|
| Cash |
|
$ |
550,000 |
|
| 29,286 shares of common stock (1) |
|
|
290,716 |
|
| Secured promissory note |
|
|
50,000 |
|
| Total purchase price |
|
$ |
890,716 |
|
| |
|
|
|
|
| Allocation of purchase price |
|
|
|
|
| Cash |
|
$ |
201,482 |
|
| Accounts receivable |
|
|
234,561 |
|
| Inventories |
|
|
16,000 |
|
| Property and equipment |
|
|
10,381 |
|
| Operating lease right-of-use assets |
|
|
157,213 |
|
| Deposits |
|
|
5,968 |
|
| Intangible assets |
|
|
57,000 |
|
| Goodwill |
|
|
458,016 |
|
| Accounts payable and accrued liabilities |
|
|
(81,478 |
) |
| Operating lease liability |
|
|
(168,427 |
) |
| Purchase price |
|
$ |
890,716 |
|
|