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Acquisition of G5 Infrared (Tables) | 3 Months Ended
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Sep. 30, 2025
Acquisition of G5 Infrared |
Fair value of consideration transferred |
Description |  | February 18, 2025 |
Cash consideration |  | $ | 20,250,000 |
Net working capital adjustment |  |  | (423,871 | )
Equity portion of consideration |  |  | 4,872,066 |
Earnout portion of consideration |  |  | 3,536,471 |
Revenue clawback |  |  | (1,104,471 | )
Fair value of consideration transferred |  | $ | 27,130,195 |
Fair value of consideration transferred to assets acquired and liabilities |
Description |  | Preliminary as of March 31, 2025 |  |  | Measurement Period Adjustments, Net |  |  | Final as of June 30, 2025 |
Assets: |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,897,098 |  |  | $ | - |  |  | $ | 1,897,098 |
Inventory |  |  | 5,065,451 |  |  |  | - |  |  |  | 5,065,451 |
Prepaid expenses and other current assets |  |  | 363,413 |  |  |  | - |  |  |  | 363,413 |
Property and equipment |  |  | 1,542,707 |  |  |  | - |  |  |  | 1,542,707 |
Operating lease right-of-use asset |  |  | 463,985 |  |  |  | - |  |  |  | 463,985 |
Goodwill |  |  | 2,977,344 |  |  |  | 4,012,450 |  |  |  | 6,989,794 |
Other intangible assets |  |  | 19,295,000 |  |  |  | (5,543,000 | ) |  |  | 13,752,000 |
Other assets |  |  | 21,748 |  |  |  | - |  |  |  | 21,748 |
Total assets acquired |  | $ | 31,626,746 |  |  | $ | (1,530,550 | ) |  | $ | 30,096,196 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 1,981,164 |  |  |  | - |  |  |  | 1,981,164 |
Accrued liabilities |  |  | 336,263 |  |  |  | - |  |  |  | 336,263 |
Operating lease liabilities, current |  |  | 268,972 |  |  |  | - |  |  |  | 268,972 |
Deferred tax liabilities, noncurrent |  |  | 1,174,650 |  |  |  | (1,037,668 | ) |  |  | 136,982 |
Operating lease liabilities, noncurrent |  |  | 242,620 |  |  |  | - |  |  |  | 242,620 |
Total liabilities assumed |  | $ | 4,003,669 |  |  | $ | (1,037,668 | ) |  | $ | 2,966,001 |
Net assets acquired |  | $ | 27,623,077 |  |  | $ | (492,882 | ) |  | $ | 27,130,195 |
Identifiable intangible assets acquired |
Intangible Asset |  | Total |  |  | Useful Lives (Years) |
Backlog |  | $ | 361,000 |  |  |  | 1 |
Know-how |  |  | 4,801,000 |  |  |  | 10 |
Tradename |  |  | 3,450,000 |  |  |  | 15 |
Customer relationships |  |  | 5,140,000 |  |  |  | 15 |
Total |  | $ | 13,752,000 |  |  |  |  |
Schedule of financial results of operations of G5 infrared |
|  | Three Months Ended September 30, 2024 |
Revenue |  | $ | 14,491,485 |
Income before taxes |  | $ | (909,606 | )

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