Quarterly report pursuant to Section 13 or 15(d)

8. Goodwill and Acquisition Accounting (Tables)

v3.19.3
8. Goodwill and Acquisition Accounting (Tables)
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Business acquisition allocation

Big Tomato Balance Sheet

 

    Book/Fair Value         Book/Fair Value  
                 
Assets           Liabilities        
Inventory   $ 291,000     Accounts payable   $ 272,266  
Other assets     4,950     Customer Deposits     23,684  
    $ 295,950         $ 295,950  

 

Purchase Price (1,933,329*1.5517)      
    $ 3,000,000  
Less: BV of Assets     (295,950 )
Add: BV of Liabilities     295,950  
Goodwill   $ 3,000,000  

  

Schedule of goodwill
Balance, December 31, 2017   $ 9,304,306  
Acquisition of Big Tomato     3,000,000  
Balance, December 31, 2018   $ 12,304,306  
Activity for the period ended September 30, 2019      
Balance September 30, 2019   $ 12,304,306