ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2014

Woodbine

Purchase price allocation

The acquisition of Woodbine was accounted for under FASB ASC 805, “Business Combinations” (“ASC 805”).  The purchase price allocation is set forth below.

Fair Value of Tangible Assets acquired	$	472,000
Goodwill		2,402,000
Liabilities assumed		(19,000	)
Total	$	2,855,000

EPC

Purchase price allocation

The acquisition of Eur-Pac was accounted for under ASC 805.  The purchase price allocation is set forth below.

Fair Value of Tangible Assets acquired	$	409,000
Goodwill		1,659,000
Liabilities assumed		(170,000	)
Total	$	1,898,000

ECC

Purchase price allocation

The acquisition of ECC was accounted for under ASC 805.  The purchase price allocation is set forth below.

Fair Value of Tangible Assets acquired	$	129,000
Goodwill		106,000
Cash Acquired		5,000
Liabilities Assumed		(31,000	)
Total	$	209,000