| 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 |
|
|