Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

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

    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Inventory   $ 497,600     $ 1,051,900     $ 1,549,500  
Prepaids and other current assets     4,600       -       4,600  
Furniture and equipment     50,000       50,000       100,000  
Right to use asset     902,000       192,600       1,094,600  
Lease liability     (902,000 )     (192,600 )     (1,094,600 )
Goodwill     1,434,700       1,750,600       3,185,300  
Total     1,986,900     $ 2,852,500     $ 4,839,400  

 

    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Cash   $ 1,281,700     $ 1,750,000     $ 3,031,700  
Common stock     705,200       1,102,500       1,807,700  
Total   $ 1,986,900     $ 2,852,500     $ 4,839,400  

 

    Green Life
Garden
    Chlorophyll     Reno
Hydroponics
    Palm
Springs
Hydroponics
    Total  
Inventory   $ 1,038,600     $ 1,441,000     $ 238,000     $ 465,500     $ 3,183,100  
Prepaids and other current assets     14,100       22,000       -               36,100  
Furniture and equipment     100,000       100,000       25,000       25,000       250,000  
Right to use asset     809,600       701,900       -       329,300       1,840,800  
Lease liability     (809,600 )     (701,900 )     -       (329,300 )     (1,840,800 )
Goodwill     2,305,900       2,596,100       516,300       554,000       5,972,300  
Total   $ 3,458,600     $ 4,159,100     $ 779,300     $ 1,044,500     $ 9,441,500  

 

    Green Life
Garden
    Chlorophyll     Reno
Hydroponics
    Palm
Springs
Hydroponics
    Total  
Cash   $ 2,647,700     $ 3,659,100     $ 525,000     $ 800,000     $ 7,631,800  
Common stock     810,900       500,000       254,300       244,500       1,809,700  
Total   $ 3,458,600     $ 4,159,100     $ 779,300     $ 1,044,500     $ 9,441,500  

 

Schedule of revenue and earnings included in consolidated income statement

    H2O
Hydroponics
LLC
    Health &
Harvest
LLC
    Total  
Acquisition date   6/26/2020     2/26/2020        
Revenue   $ 227,100     $ 2,299,600     $ 2,526,700  
Earnings   $ 27,800     $ 461,500     $ 489,300  

 

    Green Life
Garden
    Chlorophyll     Reno
Hydroponics
    Palm
Springs
Hydroponics
    Total  
Acquisition date   5/14/2019     1/21/2019     2/11/2019     2/7/2019        
Revenue   $ 1,056,200     $ 3,450,600     $ 880,400     $ 1,326,400     $ 6,713,600  
Earnings   $ 234,700     $ 613,000     $ 151,100     $ 271,600     $ 1,270,400  

Schedule of proforma consolidated income statement

    Three Months
Ended
June 30,
2019
    Six Months
Ended
June 30,
2019
 
Revenue   $ 2,275,700     $ 4,551,478  
Earnings   $ 87,200     $ 174,476  

 

    Three Months
Ended
June 30,
2018
    Six Months Ended
June 30,
2018
 
Revenue   $ 4,937,000     $ 9,873,500  
Earnings   $ 537,000     $ 1,073,800