| 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
Three months
Ended |
|
|
Actual
Unaudited
Three months ended |
|
|
Proforma
Nine Months Ended |
|
|
Actual
Unaudited
Results through |
|
| |
|
June 30, 2018 |
|
|
June 30, 2018 |
|
|
June 30, 2018 |
|
|
June 30, 2018 |
|
| Net revenue |
|
$ |
11,622,469 |
|
|
$ |
11,622,469 |
|
|
$ |
34,135,286 |
|
|
$ |
22,882,985 |
|
| Gross profit |
|
|
2,089,169 |
|
|
|
2,089,169 |
|
|
|
6,650,347 |
|
|
|
5,557,474 |
|
| Operating income (loss) |
|
|
(3,369,745 |
) |
|
|
(3,369,745 |
) |
|
|
(5,152,158 |
) |
|
|
(3,077,526 |
) |
| Net income (loss) |
|
|
4,157,638 |
|
|
|
4,157,638 |
|
|
|
2,440,556 |
|
|
|
4,549,983 |
|
| Earnings (loss) per basic common share |
|
$ |
2.12 |
|
|
$ |
2.12 |
|
|
$ |
1.24 |
|
|
$ |
2.31 |
|
|
| Schedule of acquired assets and liabilities |
Net liabilities assumed by ASH on December
31, 2017:
| 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 |
|
|