Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.19.1
ACQUISITION (Tables)
6 Months Ended
Mar. 31, 2019
ACQUISITION [Abstract]  
Purchase Price
The total purchase price for Shift Now was allocated as follows:

Intangible assets
 
$
129,924
 
Cash
   
123,625
 
Current assets
   
306,125
 
Note receivable – related party
   
3,183
 
Property and equipment
   
44,259
 
Line of credit
   
(98,310
)
Note payable
   
(30,000
)
Current liabilities
   
(396,306
)
Total net assets acquired
 
$
82,500
 
The purchase price consists of the following:
       
Convertible notes payable – related party
 
$
30,000
 
Common Stock
   
52,500
 
Total purchase price
 
$
82,500
 
Proforma Information
The unaudited pro forma information for the six months ended March 31, 2018 presented below is for illustrative purposes only and is not necessarily indicative of the results which would have been achieved or results which may be achieved in the future:

   
Three Months
Ended
March 31,
2018
   
Six Months
Ended
March 31,
2018
 
Net revenue
 
$
566,438
   
$
1,510,201
 
Cost of revenues
    308,392      
998,433
 
Operating expenses
    510,741      
1,034,390
 
Net loss
 
$
(262,207 )
 
$
(539,840
)
Net loss per share – basic and diluted
 
$
(0.01 )
 
$
(0.02
)