Quarterly report pursuant to Section 13 or 15(d)

Asset Purchase

v3.7.0.1
Asset Purchase
3 Months Ended
Mar. 31, 2017
Asset Purchase [Abstract]  
ASSET PURCHASE
11. ASSET PURCHASE

 

In February 2017, the Company entered into an asset purchase agreement for the purchase of a retail hydroponic and garden supply business located in Santa Rosa, CA. The total purchase price was $572,000. The allocation of the purchase price was allocated as follows:

 

  Inventory   $ 272,000  
  Fixed assets     50,000  
  Goodwill     250,000  
  Total   $ 572,000