| Asset Acquisition |
The following table summarizes the consideration paid for the Aegis acquisition and the fair value of assets acquired and contract-related liabilities assumed as the acquisition date:
|
|
|
|
|
|
| Consideration Paid: |
|
| Cash |
$ |
170,000 |
|
| Accounts receivable credit issued |
300,000 |
|
| Account payable |
91,048 |
|
| Contingent consideration |
1,442,462 |
|
| Total fair value of consideration transferred |
2,003,510 |
|
|
|
| Identifiable assets acquired and liabilities assumed: |
|
| Assets acquired |
|
| Property, plant and equipment |
170,000 |
|
| Inventory |
391,048 |
|
| Identifiable intangible asset - customer contracts |
1,591,327 |
|
|
2,152,375 |
|
| Acquired contract-related liabilities assumed |
|
| Deferred maintenance reserve |
(871,856) |
|
|
(871,856) |
|
| Net identifiable assets acquired |
1,280,519 |
|
| Excess of cost over fair value of net assets acquired (Goodwill) |
$ |
722,991 |
|
The following table summarizes the contract-related liabilities assumed as of September 30, 2023:
|
|
|
|
|
|
|
|
|
|
|
September 30, 2023 |
|
|
| Acquisition liabilities, current |
|
|
|
| Contingent consideration |
$ |
205,246 |
|
|
|
| Deferred maintenance reserve |
570,745 |
|
|
|
|
775,991 |
|
|
|
| Acquisition liabilities, long-term |
|
|
|
| Contingent consideration |
1,206,077 |
|
|
|
| Deferred maintenance reserve |
279,600 |
|
|
|
|
$ |
1,485,677 |
|
|
|
|