Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.21.1
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
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  
Schedule of proforma consolidated income statement

    December 31,
2020
(Unaudited)
    December 31,
2019
(Unaudited)
 
Revenue   $ 116,120,116     $ 71,649,931  
Net income   $ 12,979,881     $ 689,728  

 

    December 31,
2019 (Unaudited)
    December 31,
2018 (Unaudited)
 
Revenue   $ 31,300,425     $ 59,650,900  
Earnings   $ 4,750,591   $ (2,087,900 )