Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.22.1
ACQUISITIONS (Tables)
3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of purchase price
The table below represents the allocation of the purchase price to the acquired net assets during the three months ended March 31, 2022.

  HRG
Inventory $ 4,170 
Prepaids and other current assets 76 
Furniture and equipment 148 
Operating lease right of use asset 666 
Operating lease liability (666)
Customer relationships 2,430 
Trademark 496 
Non-compete 255 
Goodwill 5,816 
Total $ 13,391 

The table below represents the consideration paid for the net assets acquired in business combinations.

  HRG
Cash $ 6,806 
Indemnity stock holdback 875 
Common stock 5,710 
Total $ 13,391 
The table below represents the allocation of the purchase price to the acquired net assets during the three months ended March 31, 2021.

  Agron Aquarius 55 Hydro Charcoir San Diego Hydro Grow Warehouse Grow Depot Maine Indoor Garden Total
Inventory $ —  $ 957  $ 780  $ 839  $ 1,400  $ 2,450  $ 326  $ 372  $ 7,124 
Prepaids and other current assets 46  12  29  534  36  30  —  690 
Furniture and equipment 29  63  50  —  315  250  25  94  826 
Liabilities —  —  —  —  —  (169) —  —  (169)
Operating lease right of use asset 98  108  861  —  1,079  641  92  137  3,016 
Operating lease liability (98) (108) (861) —  (1,079) (641) (92) (137) (3,016)
Customer relationships 832  339  809  5,712  605  1,256  549  210  10,312 
Trade name 1,530  485  870  1,099  1,192  2,748  344  353  8,621 
Non-compete 139  —  26  —  94  36  303 
Intellectual property —  —  —  2,065  —  —  —  —  2,065 
Goodwill 8,673  1,702  3,915  6,119  5,728  11,120  866  661  38,784 
Total $ 11,249  $ 3,558  $ 6,479  $ 16,368  $ 9,282  $ 17,779  $ 2,149  $ 1,692  $ 68,556 
 
The table below represents the consideration paid for the net assets acquired in business combinations.

  Agron Aquarius 55 Hydro Charcoir San Diego Hydro Grow Warehouse Grow
Depot Maine
Indoor Garden Total
Cash $ 5,973  $ 2,331  $ 5,347  $ 9,902  $ 4,751  $ 8,100  $ 1,738  $ 1,165  $ 39,307 
Common stock 5,276  1,227  1,132  6,466  4,531  9,679  411  527  $ 29,249 
Total $ 11,249  $ 3,558  $ 6,479  $ 16,368  $ 9,282  $ 17,779  $ 2,149  $ 1,692  $ 68,556 
Schedule of revenue and earnings included in consolidated income statement
The following table discloses the date of the acquisition noted above and the revenue and earnings included in the Condensed Consolidated Statement of Operations for the period ended March 31, 2022.
  HRG
Acquisition date February 1, 2022
Revenue 3,436 
Net Income — 
The following table discloses the date of the acquisitions noted above and the revenue and earnings included in the consolidated income statement for the period ended March 31, 2021.
 
  Agron Aquarius 55 Hydro Charcoir San Diego Hydro Grow Warehouse Grow Depot Maine Indoor Garden Total
Acquisition date
3/19/2021 3/15/2021 3/15/2021 3/12/2021 2/22/2021 2/15/2021 2/1/2021 1/25/2021
Revenue $ 230  $ 185  $ 328  $ 276  $ 1,001  $ 2,168  $ 993  $ 805  $ 5,986 
Net Income $ 22  $ 16  $ 32  $ 101  $ 117  $ 294  $ 205  $ 118  $ 905 
Schedule of proforma consolidated income statement
The following represents the pro forma Condensed Consolidated Statement of Operations as if the acquisition had been included in the consolidated results of the Company for the entire period for the three months ended March 31, 2022 and 2021.

Three Months Ended Three Months Ended
  March 31, 2022 (Unaudited) March 31, 2021 (Unaudited)
Revenue $ 83,603  $ 93,458 
Net income $ (5,176) $ 6,147 
The following table discloses the pro forma consolidated statement of operations as if the acquisition had been included in the consolidated results of the Company for the three months ended March 31, 2021.

Three Months Ended March 31, 2021
  (Unaudited)
Revenue $ 99,095 
Net income $ 7,403