REVERSE ACQUISITION AND DISPOSAL (Tables)

3 Months Ended

Mar. 31, 2020

Total purchase consideration is as follows:


Flex Pharma market capitalization at closing	$	10,963,526
Fair value of rights to warrants	1,629,095
Fair value of Flex Pharma outstanding options on the merger date	132,227
Total purchase consideration	$	12,724,848

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following represents the allocation of the estimated purchase consideration:


Fair value of assets acquired
Cash	$	5,405,826
Accounts receivable	15,168
Inventory	122,235
Prepaid expense and other current assets	106,319
Goodwill and intangibles	8,937,899
Total fair value of assets acquired	14,587,447

Fair value of liabilities assumed
Accounts payable, accrued liabilities and other current liabilities	1,862,599
Total fair value of liabilities assumed	1,862,599

Net assets acquired	$	12,724,848

Schedule of Unaudited Pro Forma Results

The following unaudited pro forma financial information summarizes the results of operations for the three months ended March 31, 2020 and 2019 as if the merger described above had been completed as of January 1, 2019. Pro forma information primarily reflects adjustments relating to the reversal of transaction costs. Assuming that the merger had been completed as of January 1, 2019, the transaction costs would have been expensed in the prior period.


	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Revenues	$	1,132,830	$	655,635
Net loss	(2,083,816)		(9,415,074)
Net loss per share	(0.22)		(3.97)