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Subsequent Events
3 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Note 9 - Subsequent Events

On November 6, 2018, with an effective date of October 1, 2018, the Company completed the purchase of Greenlight Technologies, Inc., a Nevada corporation for the purchase price of 2,666,667 shares of the Company’s common stock and approximately $450,000 of cash payments and up to an additional “Incentive Shares” 1,200,000 of the common stock, based on certain development goals. The shares issued are subject to certain restrictions. The purchase price is approximately $3,010,000 based on the closing price of $0.96 per common share and the $450,000 of cash payments. The additional Incentive Shares is approximately $1,152,000. Management has not estimated the final purchase price or the purchase price allocation as of November 14, 2018.

 

Greenlight Technologies, Inc. provides cannabis consumers real-time mobile ordering and loyalty rewards through an internally developed application that integrates with the local dispensary’s point of sale system. The Company plans to fully integrate this technology into the current platform and create an “Ultimate Bundle” of services for the cannabis industry. The current revenues of Greenlight Technologies are minimal, and the Company expects higher sales in the California market as the system is fully integrated.