Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.20.2
ACQUISITION (Tables)
9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Business Combinations
The purchase price calculation is a follows:
Cash $ 2,079,525 
Liabilities 140,257 
$ 2,219,782 
The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of purchase:
Accounts receivable $ 207,145 
Inventory 1,119,143 
Intangible assets 990,000
Goodwill 17,681 
Accounts payable (114,187)
$ 2,219,782 
The purchase price calculation is as follows:
Cash $ 2,419,371 
Stock 1,020,000 
$ 3,439,371 
The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of purchase:
Cash $ 172,850 
Accounts receivable 324,989 
Inventory 269,746 
Prepaid expenses 13,180 
Property and equipment 126,000 
Intangible assets 1,110,000 
Goodwill 1,564,000 
Accounts payable (134,956)
Accrual liabilities (6,438)
$ 3,439,371