| Schedule
of estimated fair values at the acquisition date |
|
|
|
|
| Consideration paid |
|
$ |
204,000 |
|
| % of Junk acquired |
|
|
51 |
% |
| Total fair value of Junko’s net assets |
|
$ |
400,000 |
|
| |
|
|
|
|
| Assets Acquired: |
|
|
|
|
| Accounts receivable |
|
$ |
10,691 |
|
| Other receivables |
|
|
33,883 |
|
| Property & equipment |
|
|
107,349 |
|
| Customer relationships |
|
|
90,000 |
|
| Total Assets Acquired |
|
|
241,923 |
|
| |
|
|
|
|
| Liabilities Assumed: |
|
|
|
|
| Bank loan |
|
|
253,072 |
|
| Accounts and other payables |
|
|
49,733 |
|
| Related party payable |
|
|
110,118 |
|
| Deferred tax liability |
|
|
21,000 |
|
| Total liability assumed |
|
|
433,923 |
|
| Goodwill |
|
|
592,000 |
|
| Net asset acquired |
|
$ |
400,000 |
|