v3.20.4

Acquisitions (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2020 | Jun. 30, 2020
Schedule of identifiable assets and liabilities |  | The following table presents a summary of Entertainment’s identifiable assets and liabilities at February 6, 2019, the date of the sale:
Assets |  |
Cash | $ | 36,290
Property and equipment, net |  | 4,006,426
Receivables |  | 4,500
Inventories |  | 5,610
Other assets |  | 1,522,714
Total Assets |  | 5,575,540
Liabilities |  |
Accounts payable |  | 22,424
Debt |  | 5,393,623
Accrued expenses |  | 127,481
Total Liabilities |  | 5,543,528
Net Assets | $ | 32,012
Noncash consideration for net assets of Entertainment |  | 92,700
Gain on Sale | $ | 60,688
Schedule of assets and liabilities as of the acquisition date through pushdown accounting | The following table summarizes the preliminary allocation of the fair value of the assets and liabilities as of the acquisition date through pushdown accounting. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as the Company finalizes fair value estimates.
Assets |
| Cash | $ 201,161
| Accounts receivable | 1,165,953
| Inventory | 94,360
| Property and equipment | 20,904
| Other assets | 2,800
| Goodwill and other intangibles | 3,760,287
| Total Assets | 5,245,465
Liabilities |
| Accounts payable | 1,225,734
| Accrued expenses | 783,540
| Short-term debt | 96,941
| Deferred revenue | 518,900
| Total Liabilities | 2,625,115
| Net Assets | $ 2,620,350
Consideration |
| Fair value of anti-dilution clause in employment agreement | $ 235,350
| Note payable to seller | 900,000
| Stock | 1,485,000
|  | $ 2,620,350
FLCR [Member] |  |
Schedule of preliminary allocation of fair value of assets and liabilities |  | The following table summarizes the preliminary allocation of the fair value of the assets and liabilities as of the merger date through pushdown accounting. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as the Company finalizes fair value estimates.
Assets |
Cash | $ 22,205
Property and equipment | 4,209,995
Other | 20,716
Other assets | 1,511,844
Goodwill | 892,312
Total Assets | 6,657,072
Liabilities |
Accounts payable | 208,763
Long-term debt | 4,593,851
Short-term debt | 799,534
Accrued interest | 78,948
Other | 83,664
Total Liabilities | 5,764,760
Net Assets | $ 892,312
Consideration | $ 58,092
Fair value of noncontrolling interest | 834,220
| $ 892,312
Concepts and Solutions [Member] |  |
Schedule of preliminary allocation of fair value of assets and liabilities |  | The following table summarizes the preliminary allocation of the fair value of the assets and liabilities as of the acquisition date through pushdown accounting. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as the Company finalizes fair value estimates.
Assets |
Cash | $ 201,161
Accounts receivable | 1,165,953
Inventory | 94,360
Property and equipment | 20,904
Other assets | 2,800
Goodwill and other intangibles | 3,760,287
Total Assets | 5,245,465
Liabilities |
Accounts payable | 1,225,734
Accrued expenses | 783,540
Short-term debt | 96,941
Deferred revenue | 518,900
Total Liabilities | 2,625,115
Net Assets | $ 2,620,350
Consideration |
Fair value of anti-dilution clause in employment agreement | $ 235,350
Note payable to seller | 900,000
Stock | 1,485,000
| $ 2,620,350

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