BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 28, 2019

In connection with the above acquisition, the Company recorded the following intangible assets:

Asset Class/Description	Amount		Weighted-average Life in Years
Patents, technology, and licenses
Customer relationships	$	689,675		8.3
Intellectual property		586,762		8.3
Non-compete agreements		52,570		8.3
	$	1,329,007		8.3

Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Big 3 Precision and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date, as well as the fair value at the acquisition date.

At August 30, 2019:

Consideration
Cash	$	338,714
Cash proceeds from debt		80,817,039
	$	81,155,753
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	13,649,937
Inventory		3,240,382
Prepaid and other assets		32,268
Property plant and equipment		13,770,170
Other noncurrent assets		1,337,337
Other intangible assets		21,054,000
Current liabilities		(4,910,384	)
Deferred revenue		(1,585,709	)
Income tax payable		(2,039,117	)
Note payable		(375,379	)
Deferred tax liabilities		(7,114,732	)
Total identifiable net assets		37,058,773
Goodwill		44,096,980
	$	81,155,753