Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.20.2
Acquisitions (Tables)
9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Schedule of purchase price

    Emerald
City Garden
    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Inventory   $ 150,000     $ 497,600     $ 1,051,900     $ 1,699,500  
Prepaids and other current assets     -       4,600       -       4,600  

Property and equipment

    10,000       50,000       50,000       110,000  

Operating leases right to use asset

    -       902,000       192,600       1,094,600  

Operating lease liability

    -       (902,000 )     (192,600 )     (1,094,600 )
Goodwill     840,000       1,434,700       1,750,600       4,025,300  
Total   $ 1,000,000     $ 1,986,900     $ 2,852,500     $ 5,839,400  

 

    Emerald
City Garden
    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Cash   $ 1,000,000     $ 1,281,700     $ 1,750,000     $ 4,031,700  
Common stock     -       705,200       1,102,500       1,807,700  
Total   $ 1,000,000     $ 1,986,900     $ 2,852,500     $ 5,839,400  

 

    Grand
Rapids
Hydro
    Green
Life
Garden
    Chlorophyll     Reno Hydroponics     Palm
Springs
Hydroponics
    Total  
Inventory   $ 1,453,100     $ 1,038,600     $ 1,441,000     $ 238,000     $ 465,500     $ 4,636,200  
Prepaids and other current assets             14,100       22,000       -               36,100  
Property and equipment     50,000       100,000       100,000       25,000       25,000       300,000  
Operating right to use asset     1,004,200       809,600       701,900       -       329,300       2,845,000  
Operating lease liability     (1,004,200 )     (809,600 )     (701,900 )     -       (329,300 )     (2,845,000 )
Goodwill     2,376,900       2,305,900       2,596,100       516,300       554,000       8,349,200  
Total   $ 3,880,000     $ 3,458,600     $ 4,159,100     $ 779,300     $ 1,044,500     $ 13,321,500  

 

    Grand
Rapids
Hydro
    Green
Life
Garden
    Chlorophyll     Reno Hydroponics     Palm
Springs
Hydroponics
    Total  
Cash   $ 2,350,000     $ 2,647,700     $ 3,659,100     $ 525,000     $ 800,000     $ 9,981,800  
Common stock     1,530,000       810,900       500,000       254,300       244,500       3,339,700  
Total   $ 3,880,000     $ 3,458,600     $ 4,159,100     $ 779,300     $ 1,044,500     $ 13,321,500  

Schedule of revenue and earnings included in consolidated income statement

    Emerald
City Garden
    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Acquisition date     8/10/2020     6/26/2020     2/26/2020        
Revenue   $ 472,000     $ 2,768,800     $ 5,887,400     $ 9,128,200  
Net income   $ 74,200     $ 504,300     $ 830,700     $ 1,409,200  

 

    Grand Rapids Hydro   Green
Life
Garden
  Chlorophyll   Reno Hydroponics   Palm
Springs
Hydroponics
  Total  
Acquisition date     9/3/2019   5/14/2019   1/21/2019   2/11/2019   2/7/2019      
Revenue   $ 612,900   $ 3,006,100   $ 4,489,000   $ 1,427,600   $ 2,318,500   $ 11,854,100  
Earnings   $ 121,400   $ 703,100   $ 668,900   $ 233,600   $ 497,500   $ 2,224,500  
Schedule of proforma consolidated income statement

    Three Months
Ended
September 30,
2019
    Nine Months
Ended
September 30,
2019
 
Revenue   $ 2,873,178     $ 6,827,217  

Net income

  $

169,820

    $

261,714

 

 

    Three Months
Ended
September 30,
2018
    Nine Months Ended
September 30,
2018
 
Revenue   $ 1,850,700       5,552,000  
Earnings   $ 168,100       504,400