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ASSET PURCHASE AGREEMENT
9 Months Ended
Sep. 30, 2022
ASSET PURCHASE AGREEMENT  
ASSET PURCHASE AGREEMENT

14. ASSET PURCHASE AGREEMENT

 

In December 2020, a newly-formed subsidiary of the Company, Big Sky American Dist., LLC, a Montana limited liability company (“Big Sky American”), which distributes the Company’s Grizzly Creek Naturals CBD and other products, entered into an asset purchase agreement (the “Big Sky APA”), whereby it purchased certain distribution-related assets associated with approximately 200 retail locations in Western Montana for $200,000 in cash, in February 2021. The purchased assets consisted of $10,000 of furniture and equipment and $190,000 of an intangible asset, a customer list, which is being amortized over 18 months.