BUSINESS ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary purchase price and purchase price allocation as of the acquisition completion date follows:

The following sets forth the components of the purchase price:

Purchase Price:
Cash	$	901,275
Fair market value of common stock issued		7,122,500
Total Purchase Price		8,023,775
Assets Acquired:
Cash		140,982
Accounts receivable		233,241
Inventory		211,105
Prepaid expenses		285,490
Machinery and equipment		168,721
Intangible assets		5,163,000
Total Assets Acquired:		6,202,539
Liabilities assumed
Accounts payable		(415,341	)
Deferred revenue		(491,702	)
Total Liabilities Assumed		(907,043	)
Net Assets Acquired		5,295,496
Excess Purchase Price	$	2,728,279

Business Acquisition, Pro Forma Information

The following table provides unaudited pro forma results for the three months ended March 31, 2021 and 2020, as if the Asset Purchase Agreement consummated on January 1, 2020. The pro forma results of operations were prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the Asset Purchase Agreement been made as of January 1, 2020 or results that may occur in the future.

	2021			2020
Net Sales	$	2,618,139		$	2,303,796
Net income (loss)		(1,159,602	)		(10,818	)
Net income (loss) per common share, basic and diluted		(0.13	)		0.00