| Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
The acquisition date estimated fair value of the consideration transferred totaled $27,975,650, which consisted of the following:
|
Initial purchase price
|
|
$ |
2,050,000 |
|
|
Cash paid in connection with transaction
|
|
|
5,995,543 |
|
|
Note payable
|
|
|
3,810,820 |
|
|
Contingent consideration
|
|
|
678,111 |
|
|
Common stock
|
|
|
15,441,176 |
|
|
Total purchase price
|
|
$ |
27,975,650 |
|
| |
|
|
|
|
|
Net tangible assets
|
|
$ |
595,151 |
|
|
Intangible assets
|
|
|
1,637,600 |
|
|
Goodwill
|
|
|
25,742,899 |
|
|
Total purchase price
|
|
$ |
27,975,650 |
|
|
The acquisition date estimated fair value of the consideration transferred totaled $27,975,650, which consisted of the following:
|
Initial purchase price
|
|
$ |
2,050,000 |
|
|
Cash paid in connection with transaction
|
|
|
5,995,543 |
|
|
Note payable
|
|
|
3,810,820 |
|
|
Contingent consideration
|
|
|
678,111 |
|
|
Common stock
|
|
|
15,441,176 |
|
|
Total purchase price
|
|
$ |
27,975,650 |
|
| |
|
|
|
|
|
Net tangible assets
|
|
$ |
595,151 |
|
|
Intellectual property
|
|
|
319,600 |
|
|
License & customer relationships
|
|
|
990,000 |
|
|
Tradenames
|
|
|
301,000 |
|
|
Non-compete agreements
|
|
|
27,000 |
|
|
Goodwill
|
|
|
25,742,899 |
|
|
Total purchase price
|
|
$ |
27,975,650 |
|
|
| Business Acquisition, Pro Forma Information [Table Text Block] |
|
These combined results are not necessarily indicative of the results that may have been achieved had the companies always been combined.
| |
|
Twelve months ended
May 31, 2019
|
|
| |
|
(unaudited)
|
|
|
Revenues
|
|
$ |
9,759,956 |
|
|
Net loss
|
|
$ |
(26,671,841 |
)
|
|
Basic net loss per share
|
|
$ |
(0.26 |
)
|
|
Diluted net loss per share
|
|
$ |
(0.26 |
)
|
|
Weighted average shares - basic
|
|
|
102,869,612 |
|
|
Weighted average shares - diluted
|
|
|
102,869,612 |
|
|