Discontinued Operations - Sale of Infusionz to Bloomios (Table)

9 Months Ended

Mar. 31, 2023

Discontinued Operations - Sale of Infusionz to Bloomios

Schedule Of Sale of Infusionz to Bloomios

Tangible assets, inventory / working capital*	$	(1,344,000	)
Tangible assets, warehouse and manufacturing equipment, net of accumulated depreciation*		(679,327	)
Goodwill		(2,413,814	)
Intangible assets, net of accumulated amortization		(946,996	)
Accrued and incurred expenses related to the transaction and additional working capital*		(2,051,500	)
Consideration received, including cash, debt and equity, net		15,000,000
Total gain recognized	$	7,564,363

Advance for payroll	$	50,000
Operating expense		608,517
Management fees		428,500
Excess working capital		388,565
Accrued interest		141,635
Total amounts due from Bloomios	$	1,617,217

Schedule Of Investments - Bloomios

Senior secured convertible debenture, net of unamortized original issue discount	$	4,955,450
Series D convertible preferred stock		8,500,000
Convertible Secured Subordinate Promissory Note		5,000,000
Reserve on Investments - Bloomios		(8,500,000	)
Total Investments - Bloomios	$	9,955,450

Schedule Of Discontinued Operations

	Three Months Ended March 31,
	2023			2022
Discontinued Operations
Revenue	$	-		$	5,844,690
Cost of sales		-			3,086,645
Sales, general and administrative expenses		-			1,764,754
Depreciation and amortization		(288,127	)		200,353
Income (loss) from discontinued operations	288,127				792,918
Accounts receivable net of allowance for doubtful accounts		-			941,465
Fixed assets, net of accumulated depreciation		-			670,528
Total assets		-			8,330,573
Total liabilities	$	-		$	167,008

	Nine Months Ended March 31,
	2023			2022
Discontinued Operations
Revenue	$	3,042,878		$	16,107,558
Cost of sales	$	1,803,643		$	8,127,404
Sales, general and administrative expenses	$	1,300,102		$	2,946,810
Depreciation and amortization	$	10,576		$	573,171
Income (loss) from discontinued operations, net of tax	$	(50,291	)	$	4,115,245
Accounts receivable net of allowance for doubtful accounts		-		$	941,465
Fixed assets, net of accumulated depreciation		-		$	670,528
Total assets		-		$	8,330,573
Total liabilities	$	-		$	167,008