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Business Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2020
Business Combinations [Abstract] |
Schedule of Business Acquisition Assets and Liabilities | The following allocation of the purchase price is as follows:
Consideration given: |  |  |  |
338,212 shares of common stock valued at $6.10 per share |  | $ | 2,080,004 |
Cash |  |  | 2,003,200 |
Notes payable |  |  | 761,678 |
Total value of acquisition |  | $ | 4,844,882 |
Assets and liabilities acquired: |  |  |  |
Cash |  | $ | 553,283 |
Trade receivables, net |  |  | 625,717 |
Inventories, net |  |  | 154,824 |
Prepaid expenses and current assets |  |  | 250 |
Property and equipment, net |  |  | 1,839,486 |
Right-of-use assets |  |  | 232,884 |
Intangible assets - customer list |  |  | 2,895,318 |
Other assets |  |  | 26,600 |
Accounts payable |  |  | (231,613 | )
Accrued liabilities |  |  | (74,389 | )
Deferred revenue |  |  | (52,000 | )
Lease liabilities |  |  | (256,375 | )
Notes payable |  |  | (869,103 | )
Total |  | $ | 4,844,882 |
Schedule of Allocation of Purchase Price | The following allocation of the purchase price is as follows:
Consideration given: |  |  |  |
Deferred consideration payable |  | $ | 12,781,092 |
Total value of acquisition |  | $ | 12,781,092 |
Assets acquired: |  |  |  |
Inventories, net |  | $ | 836,026 |
Intangible assets - brand |  |  | 11,945,066 |
Total |  | $ | 12,781,092 |
Schedule of Pro Forma Financial Information | The following unaudited pro forma consolidated results of operations for the three months ended March 31, 2019 assume that both acquisitions of Craft Canning + Bottling and Azuñia Tequila were completed on January 1, 2019:
|  | 2019 |
Pro forma sales |  | $ | 4,702,860 |
Pro forma net loss |  |  | (3,654,156 | )
Pro forma basic and diluted net loss per share |  | $ | (0.40 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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 + Details
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