Quarterly report pursuant to Section 13 or 15(d)

16. Business Combinations

v3.4.0.3
16. Business Combinations
6 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Business Combinations

On July 6 and July 7, 2015, the Company entered into a series of agreements in connection with its indirect purchase of Marquis Industries, Inc., a Georgia corporation, and its subsidiaries. The purchase price allocation made by the Company as disclosed in the footnotes to its audited financial statements included in Form 10K is preliminary and subject to change. The Company has not yet completed its analysis to determine the fair value of inventory, property and equipment and a mezzanine loan on the acquisition date. Once this analysis is complete, the Company will adjust, if necessary, the provisional amounts assigned to inventory, property and equipment and a mezzanine loan in the accounting period in which the analysis is completed.

 

The unaudited pro forma information below present statement of operations data for the six months ended March 31, 2015 as if the acquisition of Marquis Industries took place on October 1, 2014.

 

    Six Months Ended  
    March 31  
    2015  
    (unaudited)  
Net revenue   $ 43,773,603  
Gross profit     13,268,198  
Operating income     1,695,997  
Net loss     (4,632,009 )
Loss per share     (0.30 )