Annual report pursuant to Section 13 and 15(d)

The Business (Tables)

v3.20.2
The Business (Tables)
12 Months Ended
Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Values of purchase consideration, assets acquired, and liabilities assumed from reverse-merger and merger

  A. The Share Exchange Agreement

 

  Cash     $ 24,704  
  Goodwill       93,050  
  Total     $ 117,754  

  

  C. Merger Agreement with Rotor Riot, LLC

 

  I. Purchase Price

 

Shares issued   $ 1,820,114  
Promissory note issued   $ 175,000  
Total Purchase Price   $ 1,995,114  

 

  II. Purchase Price Allocation

 

Assets Acquired    
Cash   $ 21,623  
Accounts receivable     28,500  
Other assets     3,853  
Inventory     127,411  
Trademark     20,000  
Goodwill     2,373,023  
Total assets acquired     2,574,410  
         
Liabilities Assumed        
Accounts Payable and accrued expenses   $ 171,651  
Notes payable   $ 209,799  
Due to Related Party   $ 197,846  
Total liabilities assumed   $ 579,296  
Net assets acquired   $ 1,995,114