| Summary of Acquisition |
The
following table summarizes the acquisition with a purchase price of $51,489,665:
| Current
assets, (inclusive of cash of $163,566) |
|
$ |
792,447 |
|
| Property,
plant and equipment |
|
|
681,896 |
|
| Customer
relationships |
|
|
7,480,800 |
|
| Trade
Name |
|
|
4,280,000 |
|
| Dispensary
license |
|
|
8,214,700 |
|
| Liabilities |
|
|
(2,355,938 |
) |
| Total
identifiable net assets |
|
$ |
19,093,905 |
|
| Goodwill |
|
|
32,395,760 |
|
| Net
assets |
|
$ |
51,489,665 |
|
|
| Summary of Acquisition purchase price |
The
below chart outlines a summary of the purchase price:
| Purchase
Price Detail |
|
Series
B
Preferred Stock |
|
|
Series
Q
Preferred Stock |
|
|
Series
Z
Preferred Stock |
|
|
Preferred
Stock Converted Into Common Stock |
|
|
Total
Consideration |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Closing
Consideration |
|
|
1,248,300 |
|
|
|
3,696 |
|
|
|
1,176 |
|
|
|
36,960,989 |
|
|
$ |
9,683,779 |
|
| Lockup
Consideration |
|
|
4,468,872 |
|
|
|
8,945 |
|
|
|
4,210 |
|
|
|
110,882,953 |
|
|
|
29,051,334 |
|
| Holdback
Consideration |
|
|
2,951,528 |
|
|
|
8,739 |
|
|
|
2,781 |
|
|
|
87,392,202 |
|
|
|
11,324,969 |
|
| Performance-based
Cash Consideration |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,429,583 |
|
| Totals |
|
|
8,668,700 |
|
|
|
21,380 |
|
|
|
8,167 |
|
|
|
235,236,144 |
|
|
$ |
51,489,665 |
|
|