Quarterly report pursuant to Section 13 or 15(d)

summary of the purchase price and its related allocation

v3.21.4
summary of the purchase price and its related allocation - USD ($)
3 Months Ended
Jan. 31, 2021
Jan. 31, 2020
Rotor Riot Acquisition    
Business Acquisition [Line Items]    
Promissory note issued   $ 175,000
Total Purchase Price   1,995,114
Assets acquired    
Cash   21,623
Accounts receivable   28,500
Other assets   3,853
Inventory   127,411
Trademark   20,000
Brand name   578,000
Customer relationships   39,000
Total assets acquired   818,387
Liabilities assumed    
Accounts payable and accrued expenses   171,651
Notes payable   209,799
Due to related party   197,846
Total liabilities assumed   579,296
Total fair value of net assets acquired   239,091
Goodwill   $ 1,756,023
Fat Shark Acquisition    
Business Acquisition [Line Items]    
Promissory note issued $ 1,753,000  
Total Purchase Price 8,354,076  
Assets acquired    
Cash 201,632  
Accounts receivable 249,159  
Other assets 384,232  
Inventory 223,380  
Brand name 1,144,000  
Total assets acquired 2,490,403  
Liabilities assumed    
Accounts payable and accrued expenses 279,393  
Total liabilities assumed 304,587  
Total fair value of net assets acquired 2,185,816  
Goodwill 6,168,260  
Cash 250,000  
Proprietary technology 272,000  
Non-compete agreement 16,000  
Customer deposits $ 25,194