Quarterly report pursuant to Section 13 or 15(d)

3. Acquisition of Subsidiaries (Tables)

v3.22.2.2
3. Acquisition of Subsidiaries (Tables)
9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisition of subsidiaries
    Amount
Consideration    
Cash   $ 6,000,000  

1,265,823 shares of common stock at fair market value

  4,554,304  
Contingent purchase consideration   24,716,957  
Total purchase consideration   $ 35,261,261  
Recognized amounts of identifiable assets acquired and liabilities assumed        
Cash   26,161  
Other Current assets     151,284  
Property, plant and equipment     788  
Other non-current assets     4,000  
Tradenames/Trademarks     1,419,000  
Customer relationships     7,275,000  
Non-compete agreements     2,096,000  
      10,972,233  
Less: liabilities assumed        
Current liabilities assumed     (264,135 )
Non-current liabilities assumed     (205,320 )
Imputed Deferred taxation on identifiable intangible acquired     (2,265,900 )
      (2,735,355 )
Net identifiable assets acquired and liabilities assumed     8,236,878  
Goodwill     27,024,383  
  $ 35,261,261  
Acquisition Combined Earnings
    Revenue   Earnings
                 
Actual for the nine months ended September 30, 2022   $ 872,366     $ (1,786,317 )
                 
2021 Supplemental pro forma from January 1, 2021 to September 30, 2021   $ 34,288,462      $ (7,154,851
                 
2020 Supplemental pro forma from January 1, 2020 to September 30, 2020   $ 24,992,504     $ (4,810,317 )