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BUSINESS COMBINATION (Tables)

6 Months Ended

Sep. 30, 2021

BUSINESS COMBINATION

Schedule of assets acquired and liabilities assumed recognized at aquisition date


Total consideration transferred		$	10,163,164
Recognized amounts of identifiable assets acquired and liabilities assumed:
Accounts receivable		$	1,247,015
Inventory and other current assets			5,250,781
Property, plant and equipment including right of use assets			15,074,273
Accounts payable, accrued expenses, and other current liabilities			(5,882,048)
Lease obligations			(6,701,286)
Net assets		$	8,988,735
Goodwill			1,174,429
Total		$	10,163,164

Schedule of pro forma results


		Stadco only			Pro forma combined
		Actual August 26, 2021			Three months ended			Six months ended			Three months ended			Six months ended
		– September 30,			September 30,			September 30,			September 30,			September 30,
		2021			2021			2021			2020			2020
Net sales		$	1,258,626		$	5,094,151		$	12,929,679		$	8,196,026		$	14,961,345
Operating income (loss)		$	64,809		$	(1,579,777)		$	(1,936,097)		$	350,441		$	182,568
Income (loss) before income taxes		$	22,113		$	(1,832,508)		$	(954,261)		$	199,520		$	(139,609)
Net income (loss)					$	(1,753,993)		$	(903,274)		$	86,458		$	(215,311)
EPS basic					$	(0.05)		$	(0.03)		$	0.00		$	(0.01)
EPS dilutive					$	(0.05)		$	(0.03)		$	0.00		$	(0.01)
Weighted average shares outstanding – basic						34,181,736			34,174,554			34,100,059			34,064,579
Weighted average shares outstanding - diluted						34,181,736			34,174,554			35,638,754			34,064,579