Acquisition-European Operations, description

The Company acquired 100% of Func Food Group, Oyj (“Func Food”) on October 25, 2019 (the “Acquisition”). The Acquisition was structured as a purchase of all of Func Food’s equity shares and a restructuring of Func Food’s pre-existing debt. Total consideration was $27,060,701, which consisted of approximately $14,188,000 in cash, $8,357,000 of newly issued bonds (see Note 13) and $4,516,000 related to the settlement of a pre-existing debt. In addition to the aforementioned bond issuance, the Company financed the acquisition by issuing new common shares.

Consolidated income statement, description

For the three and six months ended June 30, 2020, the amount of revenue of Func Food that is included in the Company’s consolidated income statement was approximately $8,500,000 and $17,024,000, respectively, and the amount of earnings of Func Food for the same periods was approximately $654,000 and a loss of $716,000, respectively.

Pro forma earnings

23,100,000

44,600,000

Pro forma revenue

$ 8,500,000

$ 2,200,000

$ 17,024,000

$ 4,500,000

Acquisition-European Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
Acquisition-European Operations (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Acquisition-European Operations (Details) [Line Items]
Acquisition-European Operations, description			The Company acquired 100% of Func Food Group, Oyj (“Func Food”) on October 25, 2019 (the “Acquisition”). The Acquisition was structured as a purchase of all of Func Food’s equity shares and a restructuring of Func Food’s pre-existing debt. Total consideration was $27,060,701, which consisted of approximately $14,188,000 in cash, $8,357,000 of newly issued bonds (see Note 13) and $4,516,000 related to the settlement of a pre-existing debt. In addition to the aforementioned bond issuance, the Company financed the acquisition by issuing new common shares.
Goodwill increased to additional liability			$ 395,000
Consolidated income statement, description			For the three and six months ended June 30, 2020, the amount of revenue of Func Food that is included in the Company’s consolidated income statement was approximately $8,500,000 and $17,024,000, respectively, and the amount of earnings of Func Food for the same periods was approximately $654,000 and a loss of $716,000, respectively.
Non-recurring charges		$ (4,400,000)		$ 4,400,000
Pro Forma [Member]
Acquisition-European Operations (Details) [Line Items]
Pro forma earnings		23,100,000		44,600,000
Non-recurring charges		(2,200,000)		8,900,000
Func Food Group [Member]
Acquisition-European Operations (Details) [Line Items]
Pro forma revenue	$ 8,500,000	$ 2,200,000	$ 17,024,000	$ 4,500,000