Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.3
Acquisitions (Tables)
9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Schedule of purchase price
    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  
Furniture and equipment     50,000       100,000       100,000       25,000       25,000       300,000  
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

    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

    September 30,
2018
 
Revenue   $ 5,552,000  
Earnings   $ 504,400