Schedule of purchase price |
|
|
Canopy |
|
|
Grassroots |
|
|
GrowBiz |
|
|
BGT |
|
|
Hydro Depot |
|
|
Emerald City |
|
|
H2O Hydro LLC |
|
|
Health & Harvest LLC |
|
|
Total |
|
Inventory |
|
$ |
898,700 |
|
|
$ |
2,348,200 |
|
|
$ |
6,285,900 |
|
|
$ |
1,595,000 |
|
|
$ |
333,300 |
|
|
$ |
150,000 |
|
|
$ |
497,600 |
|
|
$ |
1,053,900 |
|
|
$ |
13,162,600 |
|
Prepaids and other current assets |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
- |
|
|
|
4,600 |
|
|
|
- |
|
|
|
4,600 |
|
Building |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
477,300 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
477,300 |
|
Furniture and equipment |
|
|
- |
|
|
|
150,000 |
|
|
|
200,000 |
|
|
|
250,000 |
|
|
|
25,000 |
|
|
|
10,000 |
|
|
|
50,000 |
|
|
|
51,000 |
|
|
|
736,000 |
|
Operating lease right to use asset |
|
|
- |
|
|
|
1,436,800 |
|
|
|
3,640,700 |
|
|
|
245,500 |
|
|
|
- |
|
|
|
- |
|
|
|
902,000 |
|
|
|
192,600 |
|
|
|
6,417,600 |
|
Operating lease liability |
|
|
- |
|
|
|
(1,436,800 |
) |
|
|
(3,640,700 |
) |
|
|
(245,500 |
) |
|
|
- |
|
|
|
- |
|
|
|
(902,000 |
) |
|
|
(192,600 |
) |
|
|
(6,417,600 |
) |
Customer relationships |
|
|
2,267,000 |
|
|
|
767,000 |
|
|
|
1,910,000 |
|
|
|
601,000 |
|
|
|
148,000 |
|
|
|
208,000 |
|
|
|
150,000 |
|
|
|
246,000 |
|
|
|
6,297,000 |
|
Trade name |
|
|
1,138,000 |
|
|
|
2,138,000 |
|
|
|
7,745,000 |
|
|
|
2,025,000 |
|
|
|
212,000 |
|
|
|
- |
|
|
|
234,000 |
|
|
|
431,000 |
|
|
|
13,923,000 |
|
Non-compete |
|
|
113,000 |
|
|
|
133,000 |
|
|
|
374,000 |
|
|
|
94,000 |
|
|
|
19,000 |
|
|
|
14,000 |
|
|
|
43,000 |
|
|
|
6,000 |
|
|
|
796,000 |
|
Goodwill |
|
|
4,822,900 |
|
|
|
4,464,000 |
|
|
|
28,271,400 |
|
|
|
4,001,600 |
|
|
|
798,500 |
|
|
|
620,000 |
|
|
|
1,007,700 |
|
|
|
1,065,600 |
|
|
|
45,051,700 |
|
Total |
|
$ |
9,239,600 |
|
|
$ |
10,000,200 |
|
|
$ |
44,786,300 |
|
|
$ |
9,043,900 |
|
|
$ |
1,535,800 |
|
|
$ |
1,000,000 |
|
|
$ |
1,986,900 |
|
|
$ |
2,853,500 |
|
|
$ |
80,446,200 |
|
|
|
Canopy |
|
|
Grassroots |
|
|
GrowBiz |
|
|
BGT |
|
|
Hydro Depot |
|
|
Emerald City |
|
|
H2O Hydro LLC |
|
|
Health & Harvest LLC |
|
|
Total |
|
Cash |
|
$ |
5,423,600 |
|
|
$ |
7,498,900 |
|
|
$ |
17,486,900 |
|
|
$ |
5,972,300 |
|
|
$ |
987,500 |
|
|
$ |
1,000,000 |
|
|
$ |
1,281,700 |
|
|
$ |
1,750,000 |
|
|
$ |
41,400,900 |
|
Common stock |
|
|
3,816,000 |
|
|
|
2,501,300 |
|
|
|
27,299,400 |
|
|
|
3,071,600 |
|
|
|
548,300 |
|
|
|
- |
|
|
|
705,200 |
|
|
|
1,103,500 |
|
|
|
39,045,300 |
|
Total |
|
$ |
9,239,600 |
|
|
$ |
10,000,200 |
|
|
$ |
44,786,300 |
|
|
$ |
9,043,900 |
|
|
$ |
1,535,800 |
|
|
$ |
1,000,000 |
|
|
$ |
1,986,900 |
|
|
$ |
2,853,500 |
|
|
$ |
80,446,200 |
|
|
|
Grow World LLC |
|
|
Grand Rapids Hydro |
|
|
Green Life Garden |
|
|
Chlorophyll |
|
|
Reno Hydroponics |
|
|
Palm Springs Hydroponics |
|
|
Total |
|
Inventory |
|
$ |
553,900 |
|
|
$ |
1,453,100 |
|
|
$ |
1,038,600 |
|
|
$ |
1,441,000 |
|
|
$ |
238,000 |
|
|
$ |
465,500 |
|
|
$ |
5,190,100 |
|
Prepaids and other current assets |
|
|
- |
|
|
|
|
|
|
|
14,100 |
|
|
|
22,000 |
|
|
|
- |
|
|
|
|
|
|
|
36,100 |
|
Furniture and equipment |
|
|
35,000 |
|
|
|
50,000 |
|
|
|
100,000 |
|
|
|
100,000 |
|
|
|
25,000 |
|
|
|
25,000 |
|
|
|
335,000 |
|
Goodwill |
|
|
696,900 |
|
|
|
2,376,900 |
|
|
|
2,305,900 |
|
|
|
2,596,100 |
|
|
|
516,300 |
|
|
|
554,000 |
|
|
|
9,046,100 |
|
Total |
|
$ |
1,285,800 |
|
|
$ |
3,880,000 |
|
|
$ |
3,458,600 |
|
|
$ |
4,159,100 |
|
|
$ |
779,300 |
|
|
$ |
1,044,500 |
|
|
$ |
14,607,300 |
|
|
|
Grow World LLC |
|
|
Grand Rapids Hydro |
|
|
Green Life Garden |
|
|
Chlorophyll |
|
|
Reno Hydroponics |
|
|
Palm Springs Hydroponics |
|
|
Total |
|
Cash |
|
$ |
1,000,000 |
|
|
$ |
2,350,000 |
|
|
$ |
2,647,700 |
|
|
$ |
3,659,100 |
|
|
$ |
525,000 |
|
|
$ |
800,000 |
|
|
$ |
10,981,800 |
|
Common stock |
|
|
285,800 |
|
|
|
1,530,000 |
|
|
|
810,900 |
|
|
|
500,000 |
|
|
|
254,300 |
|
|
|
244,500 |
|
|
|
3,625,500 |
|
Total |
|
$ |
1,285,800 |
|
|
$ |
3,880,000 |
|
|
$ |
3,458,600 |
|
|
$ |
4,159,100 |
|
|
$ |
779,300 |
|
|
$ |
1,044,500 |
|
|
$ |
14,607,300 |
|
|
Schedule of revenue and earnings included in consolidated income statement |
|
|
Canopy |
|
|
Grassroots |
|
|
GrowBiz |
|
|
BGT |
|
|
Hydro Depot |
|
|
Emerald City |
|
|
H2O Hydro LLC |
|
|
Health & Harvest LLC |
|
|
Total |
|
Acquisition date |
|
|
12/23/2020 |
|
|
|
12/14/2020 |
|
|
|
11/17/2020 |
|
|
|
10/20/2020 |
|
|
|
10/12/2020 |
|
|
|
8/10/2020 |
|
|
|
6/16/2020 |
|
|
|
2/26/2020 |
|
|
|
|
|
Revenue |
|
$ |
300,500 |
|
|
$ |
531,800 |
|
|
$ |
3,852,100 |
|
|
$ |
1,859,200 |
|
|
$ |
1,244,600 |
|
|
$ |
5,634,800 |
|
|
$ |
2,418,100 |
|
|
$ |
8,994,900 |
|
|
$ |
24,836,000 |
|
Net Income |
|
$ |
141,100 |
|
|
$ |
74,400 |
|
|
$ |
735,900 |
|
|
$ |
187,800 |
|
|
$ |
148,800 |
|
|
$ |
1,005,000 |
|
|
$ |
561,800 |
|
|
$ |
1,065,600 |
|
|
$ |
3,920,400 |
|
|
|
Grow
World
LLC |
|
|
Grand
Rapids
Hydro |
|
|
Green
Life
Garden |
|
|
Chlorophyll |
|
|
Reno
Hydroponics |
|
|
Palm
Springs
Hydroponics |
|
|
Total |
|
Acquisition date |
|
12/16/19 |
|
|
9/3/2019 |
|
|
5/14/2019 |
|
|
1/21/2019 |
|
|
2/11/2019 |
|
|
2/7/2019 |
|
|
|
|
Revenue |
|
$ |
153,900 |
|
|
$ |
2,412,700 |
|
|
$ |
4,829,800 |
|
|
$ |
6,030,500 |
|
|
$ |
2,106,900 |
|
|
$ |
3,075,300 |
|
|
$ |
18,609,100 |
|
Earnings |
|
$ |
6,400 |
|
|
$ |
444,500 |
|
|
$ |
998,700 |
|
|
$ |
936,600 |
|
|
$ |
366,742 |
|
|
$ |
651,400 |
|
|
$ |
3,404,342 |
|
|