ACQUISITION OF TOPPOP (Tables)

12 Months Ended

Dec. 31, 2021

ACQUISITION OF TOPPOP (Tables)

Schedule of Fair Value of Acquisition

Purchase price:
Cash, net of cash acquired	$	3,694,273
Fair value of common stock		10,143,744
Contingent consideration		20,204,505
Note payable		5,042,467
Total purchase price		39,084,989
Assets acquired:
Accounts receivable		5,432,608
Furniture and equipment		1,848,580
Inventory		1,194,936
Equipment deposit		320,810
Security deposit		131,529
Tradename / Trademarks		6,867,000
IP/Technology		849,000
Non-compete agreement		807,200
Customer Base		14,414,000
Total assets acquired:		31,865,663
Liabilities assumed:
Accounts payable		(2,435,412	)
Notes payable		(5,927,380	)
Deferred revenue		(394,759	)
Total Liabilities assumed		(8,757,551	)
Net assets acquired		23,555,342
Excess purchase price “Goodwill”	$	15,976,877

Schedule of Acquisition of Intangible Assets

Intangible assets consist of the following:
	Estimated Useful	December 31,		December 31,
	Lives	2021		2020
Tradename - Trademarks	5 years	$	6,867,000	$	-
Intellectual Property	5 years		849,000		-
Customer Base	10 years		14,414,000		-
Non-Competes	4 years		807,200		-
			22,937,200		-
Less accumulated amortization			1,327,614		-
		$	21,609,586	$	-

Schedule of Acquisition of Future Amortization of Intangible Assets

Future amortization of intangible assets for the years ending December 31,	Amount
2022	$	3,186,408
2023		3,186,408
2024		3,186,408
2025		3,102,323
2026		2,341,604
Thereafter		6,606,435
Total	$	21,609,586