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BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY (Tables) - Sector Five Digital L L C [Member]
 9 Months Ended
Mar. 31, 2023
Business Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION

The fair value allocation for the purchase price consideration paid at Closing (including subsequent post-closing adjustments) was recorded as follows:

 

SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION

Purchase price consideration:    
Cash paid to members at Closing  $2,494,213 
Post-closing working capital adjustments   (185,501)
Company common stock fair value at Closing   2,846,144 
Fair value of contingent consideration to be achieved   6,139,000 
Total purchase price  $11,293,856 
      
Fair value allocation of purchase price:     
Cash and cash equivalents  $15,560 
Accounts receivable   253,041 
Deferred costs/contract assets   552,625 
Other assets   90,000 
Equipment, net   55,580 
Accounts payable and accrued expenses   (848,079)
Deferred revenue/contract liabilities   (2,037,070)
Intangible assets - customer relationships   3,310,000 
Intangible assets - technology   880,000 
Goodwill   9,022,199 
Total fair value allocation of purchase price  $11,293,856 
SCHEDULE OF PROFORMA FINANCIAL INFORMATION

The approximate unaudited pro forma financial information if BLI was included since July 1, 2022 would be:

 

SCHEDULE OF PROFORMA FINANCIAL INFORMATION

   For the Nine Months Ended 
   March 31, 2023 
     
Revenue  $10,577,000 
Net Loss  $(9,435,000)