| Schedule of the Preliminary Fair Value of Assets Acquired and Liabilities Assumed |
The
following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date and is based
on the best estimate of management, which is subject to change within the measurement period.
Schedule of the Preliminary Fair Value of Assets Acquired and Liabilities Assumed
| | |
As Initially Reported | | |
Adjustment Increase (Decrease) | | |
Revised Amount | |
| Cash and cash equivalents | |
$ | 1,924,558 | | |
$ | - | | |
$ | 1,924,558 | |
| Accounts receivable | |
| 176,720 | | |
| (48,829 | ) | |
| 127,891 | |
| Related party receivables | |
| 674,296 | | |
| - | | |
| 674,296 | |
| Inventory | |
| 3,690,227 | | |
| (20,316 | ) | |
| 3,669,911 | |
| Prepaid expenses | |
| 113,371 | | |
| (33,064 | ) | |
| 80,307 | |
| Fixed assets | |
| 314,515 | | |
| - | | |
| 314,515 | |
| Right-of-use asset | |
| 1,854,018 | | |
| (21,933 | ) | |
| 1,832,085 | |
| Deposits | |
| 219,330 | | |
| - | | |
| 219,330 | |
| Intangibles – trade name | |
| 5,236,869 | | |
| - | | |
| 5,236,869 | |
| Goodwill | |
| 4,206,487 | | |
| (54,509 | ) | |
| 4,151,978 | |
| Accounts payable and accrued liability | |
| (2,311,420 | ) | |
| 46,526 | | |
| (2,264,894 | ) |
| Income taxes payable | |
| (108,030 | ) | |
| - | | |
| (108,030 | ) |
| Deferred tax liability | |
| (1,257,613 | ) | |
| - | | |
| (1,257,613 | ) |
| Lease liabilities - short-term | |
| (533,659 | ) | |
| - | | |
| (533,659 | ) |
| Current portion of royalty liabilities | |
| (12,970 | ) | |
| 12,970 | | |
| - | |
| Lease liabilities - long-term | |
| (1,334,281 | ) | |
| - | | |
| (1,334,281 | ) |
| Total net assets acquired | |
$ | 12,852,418 | | |
$ | (119,155 | ) | |
$ | 12,733,263 | |
|
| Schedule of Certain Purchase Accounting and Financing Adjustments |
This
information gives effect to certain purchase accounting and financing adjustments and is based on the historical financial statements
of the Company. It is presented for illustrative purposes only and is not necessarily indicative of the Company’s actual operating
results had the Fat Panda Acquisition and related financing occurred on May 1, 2024, nor is it indicative of future results.
Schedule of Certain Purchase Accounting and Financing Adjustments
| | |
Proforma | | |
Proforma | |
| | |
For
the
nine months ended
January
31, 2026 | | |
For
the
nine months ended
January
31, 2025 | |
| Revenue | |
$ | 24,602,776 | | |
$ | 24,011,169 | |
| Net income/(loss) | |
$ | 208,814 | | |
$ | (2,693,757 | ) |
| | |
Proforma | | |
Proforma | |
| | |
For
the three months ended
January
31, 2026 | | |
For
the three months ended
January
31, 2025 | |
| Revenue | |
$ | 7,334,626 | | |
$ | 7,375,640 | |
| Net income/(loss) | |
$ | (76,681 | ) | |
$ | (503,901 | ) |
|