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The Business (Tables)

12 Months Ended

Apr. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Values of purchase consideration, assets acquired, and liabilities assumed from reverse-merger and merger

A. The Share Exchange Agreement

	Cash			$	24,704
	Goodwill				93,050
	Total			$	117,754

C. Merger Agreement with Rotor Riot, LLC

I. Purchase Price

Shares issued		$	1,820,114
Promissory note issued		$	175,000
Total Purchase Price		$	1,995,114

II. Purchase Price Allocation

Assets Acquired
Cash		$	21,623
Accounts receivable			28,500
Other assets			3,853
Inventory			127,411
Trademark			20,000
Goodwill			2,373,023
Total assets acquired			2,574,410
Liabilities Assumed
Accounts Payable and accrued expenses		$	171,651
Notes payable		$	209,799
Due to Related Party		$	197,846
Total liabilities assumed		$	579,296
Net assets acquired		$	1,995,114

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- References

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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