Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

BUSINESS COMBINATIONS (Tables)

v3.22.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2021
BUSINESS COMBINATIONS  
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