Annual report pursuant to Section 13 and 15(d)

APP Acquisition (Tables)

v3.8.0.1
APP Acquisition (Tables)
 12 Months Ended
Sep. 30, 2017
Summary of Total Purchase Consideration



 

 



 

 

Common stock

$

 1,826,097 

Series 4 Preferred Stock

 

 17,981,883 

Total purchase consideration

$

 19,807,980 



Fair Value of Assets Acquired and Liabilities Assumed



 

 



 

 

Recognized amounts of identifiable assets acquired:

 

 

Cash

$

 43,118 

Accounts receivable

 

 6,975 

Inventory

 

 141,041 

Prepaid expenses and other

 

 339 

Equipment, furniture, and fixtures

 

 1,290 

Intangible assets:

 

 

In-process research and development

 

 18,000,000 

Developed technology - PREBOOST®

 

 2,400,000 

Covenants not-to-compete

 

 500,000 

Total intangible assets

 

 20,900,000 



 

 21,092,763 

Recognized amounts of identifiable liabilities assumed:

 

 

Accounts payable

 

 (1,087,212)

Accrued expenses

 

 (276,503)

Deferred tax liabilities

 

 (6,800,000)



 

 (8,163,715)

Total identifiable net assets acquired

 

 12,929,048 

Goodwill

 

 6,878,932 



$

 19,807,980 



Pro Forma, Net Revenues and Net Income (Loss) Combined Entity



 

 

 

 

 

 



 

 

 

 

 

 



 

For the years ended September 30,



 

2017

 

2016

Net revenues

 

$

 13,657,572 

 

$

 22,145,875 

Net (loss) attributable to common shareholders

 

$

 (8,777,818)

 

$

 (2,363,251)

Net (loss) per basic and diluted common share outstanding

 

$

 (0.25)

 

$

 (0.08)