ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2022

ACQUISITION

Schedule of estimated purchase price of fair value of cash paid contingent consideration

	Total
Total purchase price	$	2,300,000

Schedule of purchase price allocation

The following table presents preliminary purchase price allocation:

Accounts receivable	$	490,000
Inventories		369,000
Machinery and equipment		823,000
Goodwill		833,000
Liabilities assumed		(215,000)
Total estimated purchase price	$	2,300,000

Schedule of unaudited pro-forma combined financial information

	For the
	Three-Month
	Period Ended
	March 31, 2021
Revenue	$	14,455,000
Net loss	$	(363,000)
Loss per share – basic and diluted	$	(0.11)