Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.20.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2019
Schedule of Unaudited Pro Forma Results of Operations

Consolidated unaudited pro forma results of operations for the Company are presented below assuming this 2019 acquisition had occurred at January 1, 2018, the beginning of the reporting period of these financial statements.

 

    Year Ended December 31,  
    2019     2018  
Total revenues   $ 48,444,052     $ 14,417,923  
                 
Net income (loss)   $  (81,705,403 )   $  (13,514,832 )
                 
Net income (loss) per share   $  (0.39 )    $  (0.07 ) 

ARL Healthcare Inc. [Member]  
Schedule of Fair Value of Assets Acquired on Acquisition

The following table summarizes the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed on the acquisition date:

 

Equipment   $ 21,000  
Cannabis licenses     185,000  
Accounts payable     (120,689 )
Due to related parties     (92,765 )
Total identifiable net assets     (7,454 )
Goodwill     731,902  
Total fair value of consideration   $ 724,448  

KPG of Anna LLC and KPG of Harrisburg LLC [Member]  
Schedule of Fair Value of Assets Acquired on Acquisition

The following table summarizes the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed on the acquisition date:

 

Cash and cash equivalents   $  443,980  
Inventory      113,825  
Intangibles     2,067,727  
Minority interests     138,356  
Accounts payable     (642,033 )
Accrued expenses     (186,005 )
Due to third parties     (1,020,850 )
Total fair value of consideration   $ 915,000  

MediTaurus LLC [Member]  
Schedule of Fair Value of Assets Acquired on Acquisition

The following table summarizes the allocation, adjusted in September 2019, of the purchase price to the fair value of the assets acquired and liabilities assumed on the acquisition date:

 

Cash and cash equivalents   $ 64,196  
Accounts receivable     5,362  
Inventory     519,750  
Goodwill     2,662,669  
Accounts payable     (777 )
Total value of MediTaurus     3,251,200  
Noncontrolling interests in MediTaurus     (975,360 )
Total fair value of consideration   $ 2,275,840  

iRollie LLC [Member]  
Schedule of Fair Value of Assets Acquired on Acquisition

The following table summarizes the allocation of the purchase price to the fair value of the assets acquired:

 

Cash and cash equivalents   $ 13,494  
Goodwill     266,682  
Total fair value of consideration   $ 280,176