Mergers and Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of the Assets and Liabilities Acquired

The assets and liabilities acquired based on their fair value were as follows:

Cash	$	11,823
Accounts receivable		8,686
Prepaid expenses and other current assets		711,389
Inventories		10,051
Property and equipment		914,716
Operating lease right-of-use asset		410,732
Intangible asset consisting of in process research and development		1,563,015
Other assets		22,782
Accounts payable		(701,242	)
Other accrued expenses		(864,483	)
Current portion of operating lease obligations		(263,509	)
Long term operating lease, net of current portion		(147,223	)
Net assets acquired	$	1,676,737
Less: non-controlling interest		(209,592	)
Net assets acquired by Thorne HealthTech, Inc.	$	1,467,145

Schedule of Recognized Identifiable Tangible and Intangible Assets Acquired and Liabilities assume

The following table sets forth the preliminary allocation of the purchase price to Nutrativa’s identifiable tangible and intangible assets acquired and liabilities assumed, including measurement period adjustments:

Cash	$	17,713
Accounts receivable, net		14,740
Inventories, net		274
Property and equipment, net		3,256,996
Intangible assets, net		10,200,000
Goodwill		2,100,358
Accounts payable		(181,913	)
Other accrued expenses		(203	)
Net assets acquired	$	15,407,965