Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

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Acquisitions (Tables)
9 Months Ended
Sep. 30, 2018
Acquisitions [Abstract]  
Schedule of purchase price

 

      East Coast Hydro     Humboldt Depot     Superior Growers Supply     Central Coast Garden     Santa Rosa Hydro     Heavy Gardens     Total  
  Inventory   $ 1,002,300     $ 389,800     $ 517,950     $ 254,900     $ 1,500,000     $ -     $ 3,664,950  
  Prepaids and other current assets     30,200       6,800       -       -       -       -       37,000  
  Furniture and equipment     45,600       30,000       50,000       4,600       100,000       -       230,200  
  Goodwill     1,341,400       654,000       540,250       136,400       4,884,500       433,000       7,989,550  
  Total   $ 2,419,500     $ 1,080,600     $ 1,108,200     $ 395,900     $ 6,484,500     $ 433,000     $ 11,921,700  

 

 

      East Coast Hydro     Humboldt Depot     Superior Growers Supply     Central Coast Garden     Santa Rosa Hydro     Heavy Gardens     Total  
  Cash   $ 1,201,200     $ 896,600     $ 817,950     $ 257,000     $ 2,425,000     $ 150,000     $ 5,747,750  
  Assumption of payables     66,300       -       -       -       -       -       66,300  
  Seller financing     600,000       -       -       -       415,000       72,000       1,087,000  
  Common stock     552,000       184,000       290,250       138,900       3,644,500       211,000       5,020,650  
  Total   $ 2,419,500     $ 1,080,600     $ 1,108,200     $ 395,900     $ 6,484,500     $ 433,000     $ 11,921,700  
Schedule of revenue and earnings included in consolidated income statement
      East Coast Hydro     Humboldt Depot     Superior Growers Supply     Central Coast Garden     Santa Rosa Hydro     Heavy Gardens     Total  
  Acquisition date     1/23/2018       1/30/2018       4/12/2018       6/8/2018       7/13/2018       9/14/2018          
  Revenue   $ 3,450,600     $ 2,030,200     $ 1,926,400     $ 498,000     $ 1,594,900     $ 121,500     $ 9,621,600  
  Earnings   $ 613,000     $ 147,600     $ 178,200     $ 56,000     $ 165,300     $ 5,800     $ 1,165,900  
Schedule of proforma consolidated income statement
      September 30, 
2017
 
  Revenue   $ 31,450,000  
  Earnings   $ (337,900 )