| Schedule of the allocation of the purchase consideration to the fair value of the assets and liabilities |
|
|
|
|
|
|
Amount |
Cash and cash equivalents |
|
|
1,376,396 |
Accounts receivable, net |
|
|
196,434 |
Due from related parties |
|
|
3,171 |
Inventories |
|
|
157,927 |
Prepaid expenses and other current assets |
|
|
613,164 |
Property and equipment, net |
|
|
6,865,544 |
Operating lease right-of-use asset |
|
|
1,740,083 |
Other intangible assets |
|
|
67,849 |
Goodwill |
|
|
1,209,953 |
Total acquired assets |
|
|
12,230,521 |
Less: Acquired liabilities Accounts payable |
|
|
56,490 |
Accrued expenses and other current liabilities |
|
|
1,013,665 |
Deferred revenue |
|
|
564,215 |
Operating lease liabilities – current portion |
|
|
519,740 |
Deferred tax liability |
|
|
607,270 |
Operating lease liabilities – non-current portion |
|
|
1,311,110 |
Loans payable – non-current portion |
|
|
1,000,000 |
Convertible debt obligations |
|
|
1,220,450 |
Total acquired liabilities |
|
|
6,292,940 |
Net assets |
|
$ |
5,937,581 |
Net assets acquired – 97.8% controlling interest |
|
$ |
5,806,954 |
|