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7. PRO FORMA FINANCIAL INFORMATION (UNAUDITED) | 12 Months Ended
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Sep. 30, 2020
Pro Forma Financial Information |
PRO FORMA FINANCIAL INFORMATION (UNAUDITED) | The following unaudited pro-forma data summarizes the results of operations for the year ended September 30, 2020 and 2019, as if the Mergers with Cure Based Development had been completed on October 1, 2017. The pro-forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the Mergers had taken place on October 1, 2017. The pro-forma financial information represents the continuing operations only.
|  | Fiscal Year Ended September 30, 2020 |  |  | Fiscal Year Ended September 30, 2019 |
Net sales |  | $ | N/A* |  |  | $ | 26,734,979 |
Operating income (loss) |  | $ | N/A* |  |  | $ | (15,997,942 | )
Net income (loss) |  | $ | N/A* |  |  | $ | (51,687,603 | )
Net income per share – average weighted shares |  | $ | N/A* |  |  | $ | (1.86 | )
Net income per share – fully diluted |  | $ | N/A* |  |  | $ | (1.86 | )
* All entities were consolidated effective December 20, 2018 therefore, the results of operations are included in these consolidated financial statements. For the per share calculation prior to April 2019, it is being assumed that the shares to be issued contractually under the Merger Agreement, upon shareholder approval, were issued at the beginning of each period. This would account for an additional 6,500,000 shares issued directly to the members of Cure Based Development and another 8,750,000 shares issued which would have a voting proxy and leak out on voting rights over a 5 year period.

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