5. Acquisition (Tables)
|
3 Months Ended |
Dec. 31, 2018 |
|---|
| VSAH [Member] |
|
| Schedule of acquired assets and liabilities |
| Cash and cash equivalents |
|
$ |
272,590 |
|
| Trade and other receivables |
|
|
177,338 |
|
| Inventory |
|
|
18,711,192 |
|
| Prepaid expenses and other current assets |
|
|
814,201 |
|
| Property and equipment |
|
|
4,859,676 |
|
| Intangible - leases |
|
|
1,033,412 |
|
| Intangible - trade names |
|
|
1,200,000 |
|
| Intangible - customer list |
|
|
50,000 |
|
| Intangible - customer relationship |
|
|
1,000,000 |
|
| Goodwill |
|
|
36,946,735 |
|
| Notes payable |
|
|
(542,074 |
) |
| Accounts payable |
|
|
(5,165,612 |
) |
| Accrued expenses |
|
|
(1,703,760 |
) |
| |
|
$ |
57,653,698 |
|
|
| ApplianceSmart Inc [Member] |
|
| Schedule of acquired assets and liabilities |
| Trade receivables |
|
$ |
1,805,545 |
|
| Inventory |
|
|
7,444,282 |
|
| Prepaid expenses |
|
|
69,347 |
|
| Refundable deposits |
|
|
1,003,841 |
|
| Intangible asset - trade names |
|
|
2,015,000 |
|
| Intangible asset - customer list |
|
|
5,202 |
|
| Intangible asset - leases |
|
|
1,205,596 |
|
| Restricted cash |
|
|
750,000 |
|
| Property and equipment |
|
|
1,094,503 |
|
| Deferred income tax |
|
|
(1,599,560 |
) |
| Bargain gain on acquisition |
|
|
(7,293,756 |
) |
| |
|
$ |
6,500,000 |
|
|
| Pro forma table related to acquisition |
| |
|
Proforma |
|
|
Actual |
|
| |
|
Three Months |
|
|
Unaudited |
|
| |
|
Ended |
|
|
Results - One Day |
|
| |
|
December 31, 2017 |
|
|
December 31, 2017 |
|
| Net revenue |
|
$ |
11,320,975 |
|
|
$ |
68,674 |
|
| Gross profit |
|
|
1,112,073 |
|
|
|
19,200 |
|
| Operating income |
|
|
(2,504,976 |
) |
|
|
19,655 |
|
| Net income (loss) |
|
|
(2,089,772 |
) |
|
|
19,655 |
|
| Earnings (loss) per basic common share |
|
$ |
(1.06 |
) |
|
$ |
0.01 |
|
|
| ASH [Member] |
|
| Schedule of acquired assets and liabilities |
| Accounts payable |
|
$ |
1,374,647 |
|
| Accrued expenses |
|
|
1,080,255 |
|
| Capital leases |
|
|
29,631 |
|
| Credit card receivables |
|
|
(255,301 |
) |
| Cash |
|
|
(621,863 |
) |
| Total net liabilities assumed by ASH |
|
$ |
1,607,369 |
|
|