Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.10.0.1
Acquisition (Tables)
 12 Months Ended
Nov. 30, 2018
Business Combinations [Abstract]  
Summary of Fair Value of Consideration

The following summarizes the fair value of the consideration of the Acquisition as of the purchase date:

 

Consideration

       

Cash

    $ 10,500,000  

Cryo-Cell common stock

      3,500,000  

Cord blood inventory earnout

      4,698,255  
  

 

 

  

Consideration

    $ 18,698,255  
  

 

 

  

Summary of Preliminary Allocation of Total Purchase Price

The following summarizes the preliminary allocation of the total purchase price for the Acquisition:

 

Accounts receivable

    $ 188,019  

Inventory

          16,037,957  

Prepaid expenses

      68,867  

Property and equipment

      568,407  

 

Other asset—Tiahne capital stock

      308,000  

Brand

      31,000  

Customer relationships

      960,000  
  

 

 

  

Total identifiable net assets acquired

      18,162,250  
  

 

 

  

Less: Deferred revenue

      (1,405,406 ) 
  

 

 

  

Goodwill

      1,941,411  
  

 

 

  

Total

    $ 18,698,255  
  

 

 
Schedule of Unaudited Pro Forma Results

The following table provides the Company’s consolidated unaudited pro forma revenues, net income per basic and diluted common share had the results of the acquired businesses’ operations been included in its operations commencing on December 1, 2016, based on available information related to the respective operations. This proforma information presented is not necessarily indicative either of the combined results of operations that actually would have been realized by the Company had the acquisition been consummated at the beginning of the period for which the pro forma information is presented, or of future results, and does not account for any operation improvements to be made by the Company post-acquisition.

 

     Twelve months ended November 30,  
     2018      2017  

Revenue

    $ 31,388,278      $ 30,649,232  

Net income (loss)

    ($ 2,658,679 )     ($ 1,019,453 ) 

Earnings (loss) per share:

      

Basic

    ($ 0.36 )     ($ 0.14 ) 

Diluted

    ($ 0.36 )     ($ 0.14 )