Acquisition of G5 Infrared (Tables)
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9 Months Ended |
Mar. 31, 2025 |
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| Acquisition of G5 Infrared |
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| Fair value of consideration transferred |
Description | | February 18, 2025 | | Cash consideration | | $ | 20,250,000 | | Equity portion of consideration | | | 4,872,077 | | Earnout portion of consideration | | | 2,501,000 | | Fair value of consideration transferred | | $ | 27,623,077 | |
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| Fair value of consideration transferred to assets acquired and liabilities |
Description | | | | Preliminary fair value of estimated purchase consideration | | $ | 27,623,077 | | Assets: | | | | | Cash | | | - | | Accounts receivable | | | 1,897,098 | | Inventory | | | 5,065,451 | | Prepaid expenses and other current assets | | | 363,413 | | Property and equipment | | | 1,542,707 | | Operating right-of-use asset | | | 463,985 | | Intangible assets | | | 19,295,000 | | Other assets | | | 21,748 | | Total Assets | | | 28,649,402 | | Liabilities: | | | | | Accounts payable | | | 1,981,164 | | Accrued liabilities | | | 336,263 | | Operating lease liabilities, current | | | 268,972 | | Deferred tax liabilities, noncurrent | | | 1,174,650 | | Operating lease liabilities, noncurrent | | | 242,620 | | Total Liabilities Assumed | | | 4,003,669 | | Net Assets | | | 24,645,733 | | Goodwill | | $ | 2,977,344 | |
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| Identifiable intangible assets acquired |
Intangible Asset | | Total | | | Useful Lives (Years) | | Backlog | | $ | 4,265,000 | | | | 1 | | Know-how | | | 5,656,000 | | | | 10 | | Tradename | | | 3,564,000 | | | | 15 | | Customer relationships | | | 5,810,000 | | | | 15 | | Total | | $ | 19,295,000 | | | | | |
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| Schedule of financial results of G5 infrared |
| | Three Months Ended March 31, | | | Nine Months Ended March 31, | | | | 2025 | | | 2024 | | | 2025 | | | 2024 | | | Revenue | | $ | 10,373,802 | | | $ | 9,828,325 | | | $ | 37,108,202 | | | $ | 37,331,752 | | | Income before taxes | | $ | (3,340,705 | ) | | $ | (3,043,300 | ) | | $ | (6,258,058 | ) | | $ | (2,888,463 | ) |
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