Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of fair values of the assets acquired and liabilities

The following table summarizes the total fair value of the consideration transferred as well as the fair values of the assets acquired and liabilities assumed.

Common Stock consideration	$	3,000,000
Cash paid		1,000,000
Total purchase consideration		4,000,000
Inventory		(3,685	)
Property and equipment		(7,650	)
Intangibles assets		(724,500	)
Contract liabilities		6,819
Goodwill	$	3,270,984

Proforma financial information

The following unaudited proforma financial information gives effect to the Company’s acquisition of Agribotix as if the acquisition had occurred on January 1, 2018 and had been included in the Company’s consolidated statement of operations for the year ended December 31, 2018:

	For the year ended December 31, 2018
Revenue	$	314,486
Net Loss	$	(2,702,928	)