Business Combination (Table)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair value of the consideration paid, identifiable assets acquired, and liabilities assumed including an amount for goodwill:

Consideration Paid:
Cash and cash equivalents	$	394,622
Common stock, 1,295,000 shares of BSFC common stock		2,590,000
4% Unsecured promissory note		500,000
4% Unsecured, Convertible promissory note payable to seller		210,000
Fair value of total consideration	$	3,694,622
Recognized amount of identifiable assets acquired and liabilities assumed:
Financial assets:
Cash and cash equivalents	$	133,956
Accounts receivables		1,141,658
Inventory		1,562,973
Inventory Step Up		105,000
Prepaid and other assets		134,254
Right of Use Assets		100,640
Property and equipment		9,713
Identifiable intangible assets:
Trademarks		850,000
Customer Relationships		1,250,000
Non-Compete Agreements		40,000
Financial liabilities:
Accounts payable and accrued liabilities		(816,435	)
Right of Use Liability		(100,640	)
Working Capital Line of Credit		(1,161,892	)
Total identifiable net assets		3,249,227
Goodwill		445,395
Total net value of assets assumed	$	3,694,622

Schedule of Proforma Information

The following is the unaudited pro forma information assuming all business acquisitions occurred on January 1, 2018. For all of the business acquisitions depreciation and amortization have been included in the calculation of the below pro forma information based upon the actual acquisition costs.

	For the Years Ended December 31
	2019			2018
Revenue	$	33,057,338		$	43,617,933
Net Loss	$	(5,048,290	)	$	(2,518,653	)
Basic and Diluted Loss per Share	$	(0.31	)	$	(0.17	)
Basic and Diluted Weighted Average Common Shares Outstanding		16,201,766			15,147,384