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The
pro-forma financial statements give effect to the following transactions as if they had occurred on the first day of the periods
presented:
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1. |
To
record the payment of $2,846,049 and the assumption of a contingent real estate liability of $1,730,542 by Akoustis for the
purchase of real estate with an appraised value of $4,000,000, fixed assets with an appraised value of $2,124,650; inventory
for $96,049, and customer relationships of $81,773, resulting in a bargain purchase option of $1,725,881. |
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2. |
To
record depreciation of the fixed assets acquired for a full year with a five-year depreciable life on a straight-line basis
as if they were acquired at the beginning of the fiscal year. |
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3. |
To
record depreciation of the building acquired for a full year with an eleven-year depreciable life on a straight-line basis
as if they were acquired at the beginning of the fiscal year |
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4. |
To
record amortization of the customer relationships acquired for a full year with a fourteen-year amortizable life on a straight-line
basis as if they were acquired at the beginning of the fiscal year |
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5. |
To
record depreciation of the fixed assets acquired for the nine-month period with a five-year depreciable life on a straight-line
basis as if they were acquired at the beginning of the interim nine-month period ending March 31, 2017. |
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6. |
To
record depreciation of the building acquired for the nine-month period with an eleven-year depreciable life on a straight-line
basis as if they were acquired at the beginning of the interim nine-month period ending March 31, 2017. |
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7. |
To
record amortization of the customer relationships acquired for the nine-month period with a fourteen-year amortizable life
on a straight-line basis as if they were acquired at the beginning of the interim nine-month period ending March 31, 2017. |
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8. |
To
eliminate related party transactions of $48,000 for Akoustis Inc. payment of fabrication services invoices to RF-SUNY in the
nine-month period ending March 31, 2017. |
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