Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.6.0.2
Acquisition (Tables)
12 Months Ended
Nov. 30, 2016
Business Combinations [Abstract]  
Summary of Fair Value of Consideration for the Acquisition

The following summarizes the fair value of the consideration for the Acquisition:

 

Consideration

  

Cash

   $ 375,374  

Assumed liabilities of seller

     1,073,898  

Note payable to seller

     1,300,000  

Prepaid expense paid to seller by purchaser

     104,000  
  

 

 

 

Consideration

   $ 2,853,272  
  

 

 

 
Summary of Allocation of Total Purchase Price for the Acquisition

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

 

Inventory

   $ 529,097  

Tooling molds

     35,353  

License agreement

     470,000  

Customer relationships

     41,000  
  

 

 

 

Total identifiable net assets acquired

     1,075,450  
  

 

 

 

Goodwill

   $ 1,777,822