Acquisition of Aquila Biolabs GmbH (Tables)

6 Months Ended

Dec. 31, 2022

Acquisition of Aquila Biolabs GmbH

Schdule of valuation of the assets acquired

Fair value of assets acquired	Amount			Useful life
Current assets:
Cash and cash equivalents	$	201,100
Accounts Receivable		159,200
Inventory		187,500
Prepaid expenses and other current assets		25,400
Property, plant and equipment		40,200
Deferred tax asset		800,300
Tradename		452,300		6 years
Non-compete agreements		784,500		4 years
IPR&D		742,100		5 years
Customer relationships		252,200		9 years
Patents and other intangibles		286,200		7 years
Total assets acquired	$	3,931,000
Fair value of liabilities assumed:
Accounts payable	$	(39,300	)
Accrued expenses		(90,300	)
Other current liabilities		(59,400	)
Total liabilities assumed		(189,000	)
Total identifiable net assets		3,742,000
Fair value of consideration transferred		7,880,100
Goodwill	$	4,138,100

Schdule of unaudited consolidated proforma information

Unaudited Consolidated Pro forma information is as follows:	Year Ended June 30, 2021
Revenues	$	10,023,200
Net loss		(4,476,500	)
Earnings per share:
Basic	$	(1.00	)
Diluted		(1.00	)