| Schedule of consideration |
| Purchase price consideration |
|
|
|
| Common Stock – 2,844,291 Shares |
|
$ |
5,261,938 |
|
| Vested Stock Options – 605,349 Shares |
|
|
700,690 |
|
| Warrants – 586,440 Shares |
|
|
- |
|
| Total purchase price consideration |
|
$ |
5,962,628 |
|
| |
|
|
|
|
| Estimated fair value of assets: |
|
|
|
|
| Cash and cash equivalents and restricted cash |
|
$ |
1,049,454 |
|
| Accounts receivable |
|
|
112,245 |
|
| Inventory |
|
|
1,494,707 |
|
| Other current assets |
|
|
835,664 |
|
| Property and equipment |
|
|
3,492,070 |
|
| Right of use asset |
|
|
339,104 |
|
| Intangible assets |
|
|
6,057,926 |
|
| Other long-term assets |
|
|
62,851 |
|
| |
|
|
13,036,036 |
|
| |
|
|
|
|
| Estimated fair value of liabilities assumed: |
|
|
|
|
| Accounts payable |
|
|
969,242 |
|
| Customer Prepayments |
|
|
1,602,535 |
|
| Government grant liability |
|
|
1,783,403 |
|
| Other loans |
|
|
1,140,301 |
|
| Other payables |
|
|
1,156,057 |
|
| Lease liabilities |
|
|
385,450 |
|
| Loan from related party |
|
|
2,032,875 |
|
| |
|
|
9,069,863 |
|
| |
|
|
|
|
| Net Assets Acquired |
|
$ |
3,996,173 |
|
| |
|
|
|
|
| Goodwill |
|
$ |
1,996,455 |
|
|
| Schedule of operating results |
| |
|
(Unaudited)
Three months ended
March 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Revenue, net |
|
$ |
2,628,027 |
|
|
$ |
825,198 |
|
| Net loss |
|
$ |
(14,883,364 |
) |
|
$ |
(12,564,439 |
) |
| Basic Earnings Per Share |
|
$ |
(0.30 |
) |
|
$ |
(0.29 |
) |
| Diluted Earnings Per Share |
|
$ |
(0.30 |
) |
|
$ |
(0.29 |
) |
|
| Schedule of carrying amount of goodwill |
| |
|
American
Robotics |
|
| Balance as of January 1, 2022 |
|
$ |
45,026,583 |
|
| Impairment loss |
|
|
(19,419,600 |
) |
| Balance as of December 31, 2022 |
|
|
25,606,983 |
|
| Goodwill acquired |
|
|
1,996,455 |
|
| Balance as of March 31, 2023 |
|
$ |
27,603,438 |
|
|