| Purchase Price Allocation |
| |
|
|
|
|
|
|
|
Modern |
|
|
|
|
| |
|
DA Stores |
|
|
DealTicker |
|
|
Everyday |
|
|
Total |
|
| Cash |
|
$ |
– |
|
|
$ |
103,884 |
|
|
|
164,633 |
|
|
$ |
268,517 |
|
| Accounts receivable |
|
|
– |
|
|
|
27,193 |
|
|
|
349,860 |
|
|
|
377,053 |
|
| Inventory |
|
|
110,375 |
|
|
|
55,691 |
|
|
|
1,232,398 |
|
|
|
1,398,464 |
|
| Other current assets |
|
|
– |
|
|
|
– |
|
|
|
229,400 |
|
|
|
229,400 |
|
| Property and equipment |
|
|
48,500 |
|
|
|
12,855 |
|
|
|
7,755 |
|
|
|
69,110 |
|
| Developed technology |
|
|
– |
|
|
|
– |
|
|
|
310,000 |
|
|
|
310,000 |
|
| Covenant not to compete |
|
|
– |
|
|
|
– |
|
|
|
120,000 |
|
|
|
120,000 |
|
| Customer list |
|
|
– |
|
|
|
175,823 |
|
|
|
– |
|
|
|
175,823 |
|
| Other intangible assets |
|
|
30,000 |
|
|
|
69,839 |
|
|
|
– |
|
|
|
99,839 |
|
| Goodwill |
|
|
– |
|
|
|
– |
|
|
|
1,169,904 |
|
|
|
1,169,904 |
|
| Other assets |
|
|
11,125 |
|
|
|
10,285 |
|
|
|
19,392 |
|
|
|
40,802 |
|
| Accounts payable |
|
|
– |
|
|
|
(28,106 |
) |
|
|
(285,908 |
) |
|
|
(314,014 |
) |
| Notes payable |
|
|
– |
|
|
|
– |
|
|
|
(463,398 |
) |
|
|
(463,398 |
) |
| Line of credit |
|
|
– |
|
|
|
– |
|
|
|
(490,568 |
) |
|
|
(490,568 |
) |
| Other
liabilities |
|
|
– |
|
|
|
(199,464 |
) |
|
|
(287,968 |
) |
|
|
(487,432 |
) |
| Purchase price |
|
$ |
200,000 |
|
|
$ |
228,000 |
|
|
$ |
2,075,500 |
|
|
$ |
2,503,500 |
|
|
| Schedule of pro forma information |
| |
|
Years Ended September
30, |
|
| |
|
2014 |
|
|
2013 |
|
| |
|
(unaudited) |
|
|
(unaudited) |
|
| Net revenue |
|
$ |
16,765,798 |
|
|
$ |
9,511,211 |
|
| Gross profit |
|
|
6,366,758 |
|
|
|
4,866,537 |
|
| Operating loss |
|
|
(4,581,470 |
) |
|
|
(2,753,240 |
) |
| Net income |
|
|
(4,824,945 |
) |
|
|
(5,054,123 |
) |
| Loss per share |
|
|
(0.37 |
) |
|
|
(0.54 |
) |
|