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ACQUISITIONS (Tables)
9 Months Ended
Sep. 30, 2015
ACQUISITIONS  
Summary of estimated fair values of assets acquired and liabiities assumed at acquisition date

 

 

 

July 1, 2015

 

Cash

 

$

131,054

 

Accounts Receivable

 

372,736

 

AR due to Seller

 

(172,736

)

Prepaid Expenses and Inventory

 

34,727

 

 

 

 

 

Total Current Assets

 

365,781

 

Fixed Assets

 

83,149

 

Trade Names

 

814,000

 

Customer Relationship

 

1,302,000

 

Goodwill

 

3,208,447

 

 

 

 

 

Total Assets

 

$

5,773,378

 

 

 

 

 

 

 

 

 

 

Accounts Payable

 

$

63,048

 

Accrued Payroll, Benefits and Other Current Liab

 

121,837

 

Customer Deposits

 

474,887

 

 

 

 

 

Total Current Liabilities

 

$

659,772

 

 

 

 

 

 

 

 

 

 

Loans to Seller

 

$

2,141,408

 

Cash Paid at 7/1

 

2,002,162

 

Adjustment Paid in August

 

119,035

 

Contingent Consideration

 

851,000

 

 

 

 

 

Business Enterprise Value

 

5,113,605

 

 

 

 

 

Total Liabilities & Equity

 

$

5,773,378

 

 

 

 

 

 

 

Schedule of unaudited pro forma combined results of opertions

 

 

 

Pro Forma

 

Pro Forma

 

Pro Forma

 

 

 

Three Months Ended

 

Nine Months Ended

 

Nine Months Ended

 

 

 

September 30, 2014

 

September 30, 2014

 

September 30, 2015

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

Net Sales

 

$

29,091,310

 

$

84,997,713

 

$

86,065,773

 

 

 

 

 

 

 

 

 

Income (Loss) from Operations

 

$

433,417

 

$

1,005,358

 

$

(449,260

)

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

290,951

 

$

623,218

 

$

(519,516

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic & Diluted

 

 

 

 

 

 

 

Income (Loss) per Common Share

 

$

0.11

 

$

0.23

 

$

(0.19

)