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Significant Acquisition (Tables)
6 Months Ended
Jun. 30, 2022
Significant Acquisition  
Significant Acquisition

 Consideration Given

 

 

 

 

 

 

Cash

 

 

 

 

$1,000,000

 

 

 

 

 

 

 

 

 

Allocation of Consideration Given

 

 

 

 

 

 

 

Cash in bank

 

$691,397

 

 

 

 

 

Inventory

 

 

25,000

 

 

 

 

 

Receivables - other

 

 

2,382

 

 

 

 

 

Intangible asset - Design, net

 

 

66,650

 

 

 

 

 

Goodwill

 

 

-

 

 

 

 

 

Other assets

 

 

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

$787,429

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

124,375

 

 

 

 

 

Long-term liabilities

 

 

105,131

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

 

 

 

229,506

 

 

 

 

 

 

 

 

 

 

Non-controlling interest fair value at time of acquisition of SLA LLC

 

 

 

 

 

 

(251,065 )

 

 

 

 

 

 

 

 

 

Net assets acquired

 

 

 

 

 

$306,858