| Schedule of purchase price of the acquisition |
| |
|
Allocation |
|
| Tangible Assets Acquired: |
|
|
|
| Net working capital |
|
$ |
(1,186,622 |
) |
| Right of use asset |
|
|
40,093 |
|
| Lease liability |
|
|
(46,970 |
) |
| Net Tangible Assets Acquired |
|
$ |
(1,193,499 |
) |
| |
|
|
|
|
| Intangible Assets Acquired: |
|
|
|
|
| Licenses and trademarks |
|
|
|
|
| Brain Scientific Trade Name |
|
|
133,000 |
|
| MemoryMD Trade Name |
|
|
504,000 |
|
| NeuroCap Trade Name |
|
|
188,000 |
|
| Neuro EEG Trade Name |
|
|
11,000 |
|
| Patent products |
|
|
|
|
| NeuroCap Developed Technology |
|
|
10,242,000 |
|
| NeuroEEG Developed Technology |
|
|
35,000 |
|
| Net Intangible Assets Acquired |
|
$ |
11,113,000 |
|
| |
|
|
|
|
| Total Fair Value of Assets Acquired |
|
$ |
9,919,501 |
|
| |
|
|
|
|
| Consideration: |
|
|
|
|
| Fair value of equity received |
|
|
7,240,222 |
|
| Liabilities assumed |
|
|
2,987,152 |
|
| Loans forgiven |
|
|
605,311 |
|
| Total consideration |
|
$ |
10,832,685 |
|
| |
|
|
|
|
| Goodwill |
|
$ |
913,184 |
|
|
| Tangible Assets Acquired: |
|
Allocation |
|
| |
|
|
|
| Net working capital |
|
|
(1,186,622 |
) |
| Right of use asset |
|
|
40,093 |
|
| Lease liability |
|
|
(46,970 |
) |
| Net Tangible Assets Acquired |
|
$ |
(1,193,499 |
) |
| |
|
|
|
|
| Intangible Assets Acquired: |
|
|
|
|
| Brain Scientific Trade Name |
|
|
133,000 |
|
| MemoryMD Trade Name |
|
|
533,000 |
|
| Neurocap Trade Name |
|
|
188,000 |
|
| Neuro EEG Trade Name |
|
|
11,000 |
|
| Customer Relationships |
|
|
(29,000 |
) |
| NeuroCap Developed Technology |
|
|
10,242,000 |
|
| NeuroEEG Developed Technology |
|
|
35,000 |
|
| Total Fair Value of Assets Acquired |
|
$ |
11,113,000 |
|
| |
|
|
|
|
| Consideration: |
|
|
|
|
| Fair value of equity received |
|
|
7,240,222 |
|
| Liabilities assumed |
|
|
2,978,152 |
|
| Loans forgiven |
|
|
605,311 |
|
| Goodwill |
|
$ |
913,184 |
|
|