v2.4.0.8
6. BUSINESS COMBINATIONS (Details) (USD $)
|
6 Months Ended |
|
Recognized amount of identifiable assets acquired and liabilities assumed: |
|
Goodwill |
$ 5,722,804 |
American Lighting
|
|
Consideration: |
|
Cash and cash equivalents |
2,500,000 |
Common stock, 289,529 shares of ForceField common stock |
1,656,106 |
Senior, secured promissory notes |
1,000,000 |
Working capital adjustment payable to sellers |
1,329,528 |
Contingent purchase consideration |
2,000,000 |
Fair value of total consideration |
8,485,634 |
Recognized amount of identifiable assets acquired and liabilities assumed: |
|
Cash and cash equivalents |
407,912 |
Trade receivables |
1,708,411 |
Inventory |
203,483 |
Other current assets |
126,195 |
Property and equipment |
11,071 |
Deferred tax liability |
857,791 |
Accounts payable and accrued liabilities |
(322,183) |
Total identifiable net assets |
2,992,680 |
Goodwill |
5,492,954 |
Total |
$ 8,485,634 |
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