Schedule of the assets acquired and liabilities assumed |
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Cardiac RMS LLC | | |
Location Medical Services | | |
Community Ambulance Service | | |
Ryan Brothers | | |
Exceptional Medical Transport | | |
Government Medical Services | | |
Total | |
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Consideration: | |
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Cash consideration | |
$ | 9,000,000 | | |
$ | 302,450 | | |
$ | 5,541,269 | | |
$ | 7,422,252 | | |
$ | 6,375,000 | | |
$ | 20,338,789 | | |
$ | 48,979,760 | |
Stock consideration | |
| 1,000,000 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,000,000 | |
Deferred consideration | |
| - | | |
| 11,279,201 | | |
| - | | |
| - | | |
| 6,000,000 | | |
| - | | |
| 17,279,201 | |
Amounts held under an escrow account | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,333,333 | | |
| - | | |
| 1,333,333 | |
Contingent consideration | |
| 15,822,190 | | |
| 2,475,540 | | |
| - | | |
| 4,000,000 | | |
| 1,080,000 | | |
| 3,000,000 | | |
| 26,377,730 | |
Total consideration | |
| 25,822,190 | | |
| 14,057,191 | | |
| 5,541,269 | | |
| 11,422,252 | | |
| 14,788,333 | | |
| 23,338,789 | | |
| 94,970,024 | |
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Recognized amounts of identifiable assets acquired and liabilities assumed | |
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Cash | |
$ | 1,574,604 | | |
$ | 5,404,660 | | |
$ | 892,218 | | |
$ | 620,248 | | |
$ | 299,050 | | |
$ | 1,005,453 | | |
$ | 9,796,233 | |
Accounts receivable | |
| 2,033,533 | | |
| 623,635 | | |
| 7,002,325 | | |
| 5,844,494 | | |
| 3,785,490 | | |
| 3,975,160 | | |
| 23,264,637 | |
Other current assets | |
| 293,478 | | |
| 134,216 | | |
| 1,167,326 | | |
| 136,157 | | |
| - | | |
| 30,734 | | |
| 1,761,911 | |
Property, plant and equipment | |
| - | | |
| 519,391 | | |
| 4,548,956 | | |
| 2,125,134 | | |
| 2,450,900 | | |
| 4,092 | | |
| 9,648,473 | |
Intangible assets | |
| 15,930,000 | | |
| 2,419,600 | | |
| - | | |
| 387,550 | | |
| 125,000 | | |
| 10,305,000 | | |
| 29,167,150 | |
Total identifiable assets acquired | |
| 19,831,615 | | |
| 9,101,502 | | |
| 13,610,825 | | |
| 9,113,583 | | |
| 6,660,440 | | |
| 15,320,439 | | |
| 73,638,404 | |
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Accounts payable | |
$ | 28,978 | | |
$ | 40,447 | | |
$ | 2,036,714 | | |
$ | 44,911 | | |
$ | - | | |
$ | 137,239 | | |
| 2,288,289 | |
Due to seller | |
| 2,448,460 | | |
| - | | |
| - | | |
| 5,844,494 | | |
| 4,084,540 | | |
| - | | |
| 12,377,494 | |
Other current liabilities | |
| 174,177 | | |
| 1,012,992 | | |
| 4,439,230 | | |
| 286,792 | | |
| - | | |
| 562,809 | | |
| 6,476,000 | |
Total liabilities assumed | |
| 2,651,615 | | |
| 1,053,439 | | |
| 6,475,944 | | |
| 6,176,197 | | |
| 4,084,540 | | |
| 700,048 | | |
| 21,141,783 | |
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Goodwill/(Gain on bargain purchase) | |
| 8,642,190 | | |
| 6,009,128 | | |
| (1,593,612 | ) | |
| 8,484,866 | | |
| 12,212,433 | | |
| 8,718,398 | | |
| 42,473,403 | |
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Total purchase price | |
$ | 25,822,190 | | |
$ | 14,057,191 | | |
$ | 5,541,269 | | |
$ | 11,422,252 | | |
$ | 14,788,333 | | |
$ | 23,338,789 | | |
$ | 94,970,024 | |
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