v3.4.0.3
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedue of Pro forma Information

The following table summarizes our consolidated results of operations for the year ended December 31, 2014, as well as unaudited pro forma consolidated results of operations as though the Lexi Luu Designs and E-motion Apparel acquisitions had occurred on January 1, 2014:

 

    As Reported 12/31/14     Pro Forma 12/31/14  
             
Net sales   $ 394,511     $ 767,310  
Net income (loss)     (1,187,360 )     (1,174,919 )
Earnings per common share:                
Basic   $ (0.00 )   $ (0.00 )
Diluted   $ (0.00 )   $ (0.00 )
Schedule of Provisional Purchase Price Acquisition

The total purchase price for the LL acquisition was allocated as follows:

 

Assets        
Cash   $ 170  
Accounts receivable     794  
Inventories     64,883  
Property and equipment     2,724  
Other assets     19,503  
Intangible assets-Customer relationships     690,629  
         
Liabilities        
Accounts payable and accrued liabilities     (256,030 )
Due to shareholder     (15,673 )
Earn-out contingent liability     (87,000 )
Net assets acquired   $ 420,000  

 

The total purchase price for the EA acquisition was allocated as follows:

 

Assets        
Inventories   $ 165,807  
Other assets     5,050  
Intangible assets-Customer relationships     74,235  
         
Liabilities        
Accounts payable and accrued liabilities     (197,092 )
Earn-out contingent liability     (48,000 )
Net assets acquired   $ -