Quarterly report pursuant to Section 13 or 15(d)

The Business (Tables)

v3.20.1
The Business (Tables)
9 Months Ended
Jan. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Values of purchase consideration, assets acquired, and liabilities assumed from reverse-merger and merger

B. Red Cat Propware, Inc.

 

  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     2,375,852  
Total assets acquired     2,577,239  
         
Liabilities Assumed        
Accounts Payable and accrued expenses   $ 171,651  
Notes payable   $ 216,099  
Due to Related Party   $ 194,375  
Total liabilities assumed   $ 582,125  
Net assets acquired   $ 1,995,114