| 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 of the acquisition date:
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Acquisitions |
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April 1, 2023 |
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February 1, 2024 |
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May 1, 2024 |
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Total |
| Cash |
$ |
170,000 |
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|
$ |
— |
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$ |
— |
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$ |
170,000 |
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| Accounts receivable credit issued |
300,000 |
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— |
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— |
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|
300,000 |
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| Account payable due to Aegis |
91,048 |
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— |
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— |
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|
91,048 |
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| Contingent consideration |
1,256,656 |
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|
101,641 |
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|
171,260 |
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|
1,529,557 |
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| Total fair value of consideration transferred |
1,817,704 |
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101,641 |
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171,260 |
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2,090,605 |
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| Identifiable assets acquired and liabilities assumed: |
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| Assets acquired |
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| Property, plant and equipment |
170,000 |
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— |
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— |
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170,000 |
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| Inventory |
391,048 |
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— |
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— |
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391,048 |
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| Identifiable intangible asset - customer contracts |
1,772,659 |
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184,587 |
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267,877 |
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2,225,123 |
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2,333,707 |
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184,587 |
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267,877 |
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2,786,171 |
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| Acquired contract-related liabilities assumed |
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| Deferred maintenance reserve |
(853,271) |
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— |
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— |
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(853,271) |
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| Net identifiable assets acquired |
1,480,436 |
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|
184,587 |
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|
267,877 |
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|
1,932,900 |
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| Excess of cost over fair value of net assets acquired (Goodwill) |
$ |
337,268 |
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$ |
(82,946) |
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$ |
(96,617) |
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$ |
157,705 |
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September 30, 2025 |
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December 31, 2024 |
| Acquisition liabilities, current portion |
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| Contingent consideration |
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$ |
394,226 |
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$ |
328,350 |
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| Deferred maintenance reserve |
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467,253 |
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|
574,202 |
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|
861,479 |
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|
902,552 |
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| Acquisition liabilities, net of current portion |
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| Contingent consideration |
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816,951 |
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|
1,008,760 |
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| Deferred maintenance reserve |
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$ |
816,951 |
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$ |
1,008,760 |
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