General form of registration statement for all companies including face-amount certificate companies

12. Acquisition (Tables) (Sept 30, 2019)

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12. Acquisition (Tables) (Sept 30, 2019)
 9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Purchase Price and Allocation of Purchase

Purchase price      
Cash   $ 550,000  
39,286 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     436,554  
Inventories     11,282  
Prepaid expenses     2,478  
Property and equipment     10,381  
Operating lease right-of-use assets     186,449  
Deposits     5,968  
Intangible assets     145,000  
Goodwill     162,572  
Accounts payable and accrued liabilities     (73,787 )
Operating lease liability     (197,663 )
Purchase price   $ 890,716  

 

(1) – the fair value of the common stock was calculated based on the closing market price of the Company’s common stock at the date of acquisition.