Asset Purchase Agreement (Tables)

6 Months Ended

Nov. 30, 2022

Asset Purchase Agreement

Schedule of estimated fair value of the assets acquired

Cash	$	1,066,414
Accounts receivables		227,786
Inventory		1,342,461
Prepaid expenses		62,452
Other assets		108,030
Accounts payables		(285,665	)
Deferred revenues		(1,043,332	)
Other liabilities		(79,826	)
Net tangible assets acquired	$	1,398,320
Identifiable intangible assets
Licensing rights	$	11,945
Customer relationships		70,000
Tradenames		275,000
Website		100,000
Total Identifiable intangible assets	$	456,945
Consideration paid	$	4,007,480
Total net assets acquired		1,855,265
Preliminary goodwill purchased	$	2,152,215

Schedule of proforma information

	For the Three Months Ended				For the Six Months Ended
	November 30,		November 30,		November 30,		November 30,
	2022		2021		2022		2021
Revenue	$	6,731,999	$	5,085,369	$	11,650,248	$	7,997,583
Net income (loss)	$	726,900	$	101,945	$	863,912	$	(118,533	)
Earnings (loss) per common share
Basic	$	0.01	$	0.00	$	0.01	$	(0.00	)
Diluted	$	0.00	$	0.00	$	0.00	$	(0.00	)