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NOTE 19 - BUSINESS COMBINATIONS (Tables)
12 Months Ended
Jun. 30, 2018
Proforma Results

The following unaudited pro forma results of operations assumes that the TK2 Equipment Management LLC and Turnkey Services of New York LLC acquisitions were made at the beginning of the year prior to acquisition.

 

   Year ended June 30, 2016
Total Revenues – Net  $73,368,210 
Net Income - Controlling Interests  $16,088,263 
Net Income Available to Common Stockholders  $15,042,842 
Net Income Available to Class A Non-Voting   Preferred Stockholders  $779,173 
Net Income Available to Class C Common Stockholders  $266,248 
Basic Net Income Per Common Share Available to Common Stockholders  $2.49 
Diluted Net Income Per Common Share Available to Common Stockholders  $2.43 
Basic and Diluted Income Per Share - Common C  $0.70 
Weighted Average Basic Shares Outstanding   6,050,893 
Weighted Average Diluted Shares Outstanding   6,178,397 
Weighted Average Basic and Diluted Shares Outstanding - Class C Common   382,513 

 

Turnkey Equipment Management of Great Neck, LLC  
Acquisition

On June 15, 2017, the Company purchased 100% interest in Turnkey Equipment Management of Great Neck, LLC. The consideration and net assets acquired is as follows:

 

Cash Paid  $1,312,769 
Security deposit   23,775 
Total Consideration   1,336,544 
Net assets at Fair Value   731,582 
Goodwill  $604,962 

 

Radwell Leasing, LLC & Radwell LLC  
Acquisition

On March 20, 2017, the Company purchased 100% interest in Radwell Leasing LLC and Radwell LLC. The net assets acquired and consideration is as follows:

 

Diagnostic Equipment  $544,375 
Leasehold Improvements   126,237 
Total Net Assets Acquired  $670,612 

 

Stock issued as consideration  $791,210 
Less cash received - Net   (120,598)
Total Consideration  $670,612 

 

TK2 Equipment Management, LLC & Turnkey Equipment Management, LLC  
Acquisition

On June 30, 2016, the Company purchased 100% interest in TK2 Equipment Management, LLC and Turnkey Services of New York, LLC. The consideration and net assets acquired is as follows:

 

Cash Paid  $4,223,567 
Net assets at Fair Value   2,861,507 
Goodwill  $1,555,060