Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.1
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Schedule of purchase price

    Health & Harvest LLC  
Inventory   $ 1,052,500  
Prepaids and other current assets     -  
Furniture and equipment     50,000  
Right to use asset     192,600  
Lease liability     (192,600 )
Goodwill     1,750,600  
Total   $ 2,852,500  

 

    Health & Harvest LLC  
Cash   $ 1,750,000  
Common stock     1,102,500  
Total   $ 2,852,500  

 

    Chlorophyll     Reno Hydroponics     Palm Springs Hydroponics     Total  
Inventory   $ 1,441,000     $ 238,000     $ 465,500     $ 2,144,500  
Prepaids and other current assets     22,000       -               22,000  
Furniture and equipment     100,000       25,000       25,000       150,000  
Right to use asset     702,000       -       329,300       1,031,300  
Lease liability     (702,000 )     -       (329,300 )     (1,031,300 )
Goodwill     2,596,100       516,300       554,000       3,666,400  
Total   $ 4,159,100     $ 779,300     $ 1,044,500     $ 5,982,900  

 

    Chlorophyll     Reno Hydroponics     Palm Springs Hydroponics     Total  
Cash   $ 3,659,100     $ 525,000     $ 800,000     $ 4,984,100  
                                 
Common stock     500,000       254,300       244,500       998,800  
Total   $ 4,159,100     $ 779,300     $ 1,044,500     $ 5,982,900  

Schedule of revenue and earnings included in consolidated income statement

    Health & Harvest LLC  
Acquisition date     2/26/2020  
Revenue   $ 559,340  
Earnings   $ 112,882  

 

    Chlorophyll     Reno Hydroponics     Palm Springs Hydroponics     Total  
Acquisition date   1/21/2019     2/11/2019     2/7/2019        
Revenue   $ 3,450,600     $ 1,594,900     $ 121,500     $ 5,167,000  
Earnings   $ 613,000     $ 165,300     $ 5,800     $ 784,100  

Schedule of proforma consolidated income statement

    March 31,
2019
 
Revenue   $ 1,365,700  
Earnings   $ 19,200  

 

    March 31,
2018
 
Revenue   $ 2,088,200  
Earnings   $ 389,100