Quarterly report pursuant to Section 13 or 15(d)

Business Combination (Tables)

v3.22.4
Business Combination (Tables)
9 Months Ended
Dec. 31, 2022
Business Combination  
Summary of estimated fair value of assets acquired and consideration paid

The acquisition qualified for purchase accounting treatment under Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, whereby the purchase price was provisionally allocated to the assets acquired and liabilities assumed based upon their estimated fair values on the acquisition date of September 7, 2022:

    

Tower Aquatic

Acquisition

Total consideration paid

$

215,000

Estimated fair value of assets acquired:

 

  

Property and Equipment

 

79,448

ROU Asset

 

267,429

Lease Liability

 

(267,429)

Tradename and Trademarks, net

 

36,000

Goodwill

 

99,552

$

215,000