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BUSINESS COMBINATION - Assets acquired and liabilities assumed recognized at the acquisition date (Details) - Stadco | Aug. 25, 2021 USD ($)
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Business Acquisition |
Total consideration transferred | $ 10,209,420
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Accounts receivable | 1,247,015
Inventory | 927,188
Other current assets | 5,417,254
Property, plant, and equipment and right of use assets | 15,971,761
Accounts payable, accrued expenses, and other current liabilities | (6,652,512)
Lease obligations | (6,701,286)
Net assets | 10,209,420
Total consideration transferred | 10,209,420
Reported as |
Business Acquisition |
Total consideration transferred | 10,163,164
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Accounts receivable | 1,247,015
Inventory | 927,188
Other current assets | 4,323,593
Property, plant, and equipment and 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 consideration transferred | 10,163,164
ERTC refundable credit |
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Other current assets | 1,093,661
Accounts payable, accrued expenses, and other current liabilities | (164,049)
Net assets | 929,612
Goodwill | (929,612)
Customer claim |
Business Acquisition |
Total consideration transferred | 46,256
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Accounts payable, accrued expenses, and other current liabilities | (606,415)
Net assets | (606,415)
Goodwill | 652,671
Total consideration transferred | 46,256
Fixed Asset Valuation |
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Property, plant, and equipment and right of use assets | 897,488
Net assets | 897,488
Goodwill | $ (897,488)

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