| Schedule of bargain purchase |
|
| Purchase Consideration |
|
|
|
| |
|
|
|
| Amount of consideration: |
|
$ |
4,576,591 |
|
| |
|
|
|
|
| Assets acquired and
liabilities assumed at fair value |
|
|
|
|
| Land |
|
$ |
1,000,000 |
|
| Building |
|
|
3,000,000 |
|
| STC-MEMS
equipment |
|
|
2,124,650 |
|
| Inventory |
|
|
96,049 |
|
| Customer
relationships |
|
|
81,773 |
|
| Net
assets acquired |
|
$ |
6,302,472 |
|
| |
|
|
|
|
| Total net assets acquired |
|
$ |
6,302,472 |
|
| Consideration
paid |
|
|
4,576,591 |
|
| Gain
on bargain purchase |
|
$ |
1,725,881 |
|
|
| Schedule of pro-forma combined operations of the company with the STC-MEMS |
The
following presents the unaudited pro-forma combined results of operations of the Company with the STC-MEMS Business as if the
entities were combined on July 1, 2016.
| |
|
For
the Three Months Ended September 30, |
|
| |
|
2016 |
|
| Revenues,
net |
|
$ |
470,812 |
|
| Net loss allocable
to common shareholders |
|
$ |
(3,174,868 |
) |
| Net loss per share |
|
$ |
(0.20 |
) |
| Weighted average number of shares outstanding |
|
|
15,701,709 |
|
|
The
following presents the unaudited pro-forma combined results of operations of the Company with the STC-MEMS Business as if the
entities were combined on July 1, 2015.
| |
|
Year
Ended |
|
|
Year
Ended |
|
| |
|
June
30, |
|
|
June
30, |
|
| |
|
2017 |
|
|
2016 |
|
| Revenues,
net |
|
$ |
4,195,374 |
|
|
$ |
5,314,499 |
|
| Net (loss) allocable
to common shareholders |
|
$ |
(13,907,072) |
|
|
$ |
(7,613,100) |
|
| Net (loss) per share |
|
$ |
(0.82 |
) |
|
$ |
(0.57 |
) |
| Weighted average number of shares outstanding |
|
|
16,990,536 |
|
|
|
13,349,482 |
|
|