Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION, ACQUISITIONS, AND LIQUIDITY (Tables)

v3.22.2.2
ORGANIZATION, ACQUISITIONS, AND LIQUIDITY (Tables)
9 Months Ended
Sep. 30, 2022
Emerald Construction Management Inc [Member]  
Restructuring Cost and Reserve [Line Items]  
SCHEDULE OF INITIAL ACQUISITION OF TARGET COMPANIES

 

         
Purchase Price   $ 7,671,557  
         
Allocation of Purchase Price:        
Cash   $ 622,641  
Accounts receivable   $ 2,666,811  
Contract receivable   $ 494,456  
Prepayments and other assets   $ 38,086  
Property and equipment   $ 403,008  
ROU asset   $ 82,408  
Goodwill   $ 4,135,006  
Intangible assets   $ 3,659,000  
Accrued expenses   $ 2,361,302  
Contract liabilities   $ 1,071,399  
ROU liability   $ 82,408  
Deferred tax liability   $ 914,750  
SCHEDULE OF SUPPLEMENTAL INFORMATION ON UNAUDITED PRO-FORMA BASIC OF ACQUISITION

The following pro forma amounts reflect the Company’s results as if the acquisition of Emerald had occurred on January 1, 2021. These pro forma amounts have been calculated after applying the Company’s accounting policies and adjusting the results of the acquisition to reflect the additional amortization of intangibles.

 

                                 
   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2022     2021     2022     2021  
Revenue     12,368,293       25,911,249       61,384,107       58,974,083  
Net Income (loss)     (8,597,133 )     561,630       (10,155,899 )     (15,053 )
2WR Sellers [Member]  
Restructuring Cost and Reserve [Line Items]  
SCHEDULE OF INITIAL ACQUISITION OF TARGET COMPANIES

 

         
Purchase Price   $ 10,058,536  
         
Allocation of Purchase Price:        
Cash   $ 950,690  
Accounts receivable   $ 1,676,208  
Prepayments and other assets   $ 42,752  
Property and equipment   $ 9,351  
Goodwill   $ 7,090,054  
Intangible assets   $ 1,762,500  
Accrued expenses   $ 1,032,394  
Deferred tax liability   $ 440,625  
SCHEDULE OF SUPPLEMENTAL INFORMATION ON UNAUDITED PRO-FORMA BASIC OF ACQUISITION

The following pro forma amounts reflect the Company’s results as if the acquisition of the 2WR Entities had occurred on January 1, 2021. These pro forma amounts have been calculated after applying the Company’s accounting policies and adjusting the results of the acquisition to reflect the additional amortization of intangibles.

 

                                 
   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2022     2021     2022     2021  
Revenue     12,368,293       19,225,173       49,702,659       47,842,906  
Net Income (loss)     (8,660,783 )     389,217       (11,096,304 )     1,022,095