3. ACQUISITIONS (Tables)

6 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of SWS Consideration

The Company determined the fair value of the consideration given to the sellers of SWS in connection with the transaction in accordance with ASC 820 was as follows:

Consideration:	Fair Value
Cash	$	1,350,000
Contingent consideration		155,000
310,018 shares of common stock as contingent equity    consideration	$	533,002
167,685 shares of common stock		4,649,905
Total Consideration	$	6,687,907

Summary of SWS Purchase Price Allocation

	Preliminary Allocation at Acquisition Date			Adjustments to Fair Value			Final Allocation at Acquisition Date
Customer List	$	5,122,733		$	(4,932,733	)	$	190,000
Goodwill		1,642,409			5,178,126			6,820,535
Other Assets and Liabilities assumed,    net		(77,235	)		(245,393	)		(322,628	)
Total	$	6,687,907		$	—		$	6,687,907

Summary of ATL Purchase Price Allocation

Purchase Price Allocation	Preliminary Allocation at Acquisition Date			Adjustments to Fair Value			Final Allocation at Acquisition Date
Strategic Contract	$	7,457,970		$	2,342,000		$	9,799,970
Goodwill		14,205,245			(1,264,167	)		12,941,078
Other Assets and Liabilities assumed,    net		(479,864	)		(1,077,833	)		(1,557,697	)
Total	$	21,183,351		$	—		$	21,183,351

Schedule of Unaudited Pro Forma Information Assuming Acquisitions

he following is the unaudited pro forma information assuming the acquisition of ATL and SWS occurred on October 1, 2020:

	For the three months ended		For the six months ended
	March 31, 2021		March 31, 2021
Net sales	$	8,907,200	$	12,967,229
Net income (loss)	$	7,208,568	$	(551,184	)
Net income / (loss) per common share – basic	$	0.27	$	(0.02	)
Weighted average common shares outstanding – basic		26,402,962		26,121,545
Net income / (loss) per common share – diluted	$	0.22	$	(0.02	)
Weighted average common shares outstanding – diluted		33,175,566		26,121,545