Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block] |
Total Consideration | | $ | 6,550,000 | |
| | | | |
Cash | | $ | 250 | |
Accounts Receivable | | | 540,177 | |
Inventory | | | 673,407 | |
Fixed Assets | | | 2,143,860 | |
Prepaid and Other Assets | | | 79,247 | |
Intangible Assets: Customer List & Trademarks | | | 1,985,000 | |
Goodwill | | | 1,232,681 | |
Total Assets Acquired | | $ | 6,654,622 | |
| | | | |
Accounts Payable | | $ | 60,047 | |
Accrued Expense | | | 44,575 | |
Total Liabilities Assumed | | | 104,622 | |
Total Fair Value | | $ | 6,550,000 | |
| | | | |
Acquisition transaction costs incurred were: | | $ | 226,701 | |
Total Consideration | | $ | 4,360,985 | |
| | | | |
Accounts Receivable | | $ | 752,848 | |
Inventory | | | 180,825 | |
Fixed Assets | | | 1,096,717 | |
Prepaid and Other Assets | | | 23,224 | |
Intangible Assets: Customer List | | | 1,400,000 | |
Goodwill | | | 1,015,939 | |
Total Assets Acquired | | $ | 4,469,553 | |
| | | | |
Accounts Payable | | $ | 93,113 | |
Accrued Expense | | | 15,455 | |
Total Liabilities Assumed | | | 108,568 | |
Total Fair Value | | $ | 4,360,985 | |
| | | | |
Acquisition transaction costs incurred were: | | $ | 158,332 | |
| | | | |
Total Consideration | | $ | 12,659,328 | |
| | | | |
Cash | | $ | 403,058 | |
Accounts Receivable | | | 2,524,400 | |
Inventory | | | 2,136,970 | |
Fixed Assets | | | 1,395,780 | |
Operating Right of Use Asset | | | 2,961,017 | |
Prepaid and Other Assets | | | 209,034 | |
Intangible Assets: Customer List | | | 4,100,000 | |
Goodwill | | | 3,907,172 | |
Total Assets Acquired | | $ | 17,637,431 | |
| | | | |
Accounts Payable | | $ | 244,837 | |
Accrued Expense | | | 466,045 | |
Operating Lease Liabilities | | | 2,961,017 | |
Deferred Tax | | | 1,306,204 | |
Total Liabilities Assumed | | | 4,978,103 | |
Total Fair Value | | $ | 12,659,328 | |
| | | | |
Acquisition transaction costs incurred were: | | $ | 478,763 | |
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Business Combination, Pro Forma Information [Table Text Block] |
| | Three Months ended | | | Three Months ended | |
| | March 31, 2025 | | | March 31, 2024 | |
| | Sales | | | Net Income (Loss) | | | Sales | | | Net Income | |
Acquired Companies: | | | | | | | | | | | | | | | | |
Heany Industries (acquired January 2, 2024) | | $ | 1,384,712 | | | $ | (181,990 | ) | | $ | 1,455,531 | | | $ | 19,469 | |
Advanced Industrial Coatings (acquired August 30, 2024) | | | 1,043,438 | | | | 10,068 | | | | - | | | | - | |
Rahn Industries (acquired January 2, 2025) | | | 4,309,615 | | | | 132,969 | | | | - | | | | - | |
Subtotal Acquired Companies | | $ | 6,737,765 | | | $ | (38,953 | ) | | $ | 1,455,531 | | | $ | 19,469 | |
| | | | | | | | | | | | | | | | |
All Other Companies | | | 36,576,346 | | | | 3,169,987 | | | | 36,984,108 | | | | 2,977,416 | |
Total | | $ | 43,314,111 | | | $ | 3,131,034 | | | $ | 38,439,639 | | | $ | 2,996,885 | |
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