Summary of acquisition |
Assets acquired: | | Cash | | $ | 21,437 | | Accounts receivable | | | 206,536 | | Prepaid expenses | | | 10,487 | | Property and equipment | | | 199,584 | | Right-of-use asset | | | 193,839 | | Intangible assets | | | 99,609 | | Total assets acquired | | $ | 731,492 | | | Liabilities assumed: | Accounts payable and accrued expenses | | $ | 704,637 | | Accrued payroll | | | 172,366 | | Notes payable – current and non-current | | | 1,017,771 | | Loan – current and non-current | | | 1,066,012 | | Operating lease liability – current and non-current | | | 210,320 | | Total liabilities assumed | | $ | 3,171,106 | | | | | | | Net assets (liabilities) acquired/assumed | | $ | (2,439,614 | ) |
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