ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2022

ACQUISITION

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

NOTE 2 – ACQUISITION - (Continued)

	Total
Total purchase price	$	2,300,000

Schedule of purchase price allocation

The following table presents the purchase price allocation:

Accounts receivable	$	489,000
Inventories		359,000
Machinery and equipment		823,000
Customer relationships		450,000
Goodwill		394,000
Liabilities assumed		(215,000)
Total purchase price	$	2,300,000

Schedule of unaudited pro-forma combined financial information

	For the		For the
	three-month		nine-month
	period ended		period ended
	September 30, 2021		September 30,2021
Revenue	$	13,835,000	$	42,690,000
Net Income (Loss)	$	(629,000)	$	1,514,000
Earnings (loss) per share – basic	$	(0.20)	$	0.48
Earnings (loss) per share – diluted	$	(0.20)	$	0.47