ACQUISITION OF TCBM HOLDINGS, LLC (Tables)

3 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

SCHEDULE OF FAIR VALUE OF NET ASSETS ACQUIRED

Details regarding the book values and fair values of the net assets acquired are as follows:

	Book Value		Fair Value		Difference
	(Unaudited)		(Unaudited)		(Unaudited)
Cash	$	546,411	$	546,411	$	-
Inventory		70,580		70,580		-
Property and Equipment		36,363		36,363		-
Total	$	653,354	$	653,354	$	-

SCHEDULE OF ASSETS ACQUIRED

Assets acquired	As of November 30, 2019
Cash	$	546,411
Inventory (i)		70,580
Property, plant and equipment (ii)		36,363
		653,354
Goodwill (iii)		1,346,646
Total purchase price	$	2,000,000

(i)	Inventories acquired were sold on March 11, 2020
(ii)	Property, plant and equipment acquired includes computers, software and other office equipment.
(iii)	Goodwill is recorded when the cost of acquired businesses exceeds the fair value of the identifiable net assets acquired.

SCHEDULE OF GOODWILL

The changes in the carrying amount of goodwill for the period from November 30, 2019 through September 30, 2021 were as follows:

Balance as of November 30, 2019	$	1,346,646
Additions and adjustments		(873,323	)
Balance as of September 30, 2021	$	473,323