Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Details 1)

v3.8.0.1
ACQUISITIONS (Details 1)
12 Months Ended
Dec. 31, 2016
USD ($)
Current assets, (inclusive of cash of $163,566) $ 792,447
Property, plant and equipment 681,896
Customer relationships 7,860,000 [1]
Trade Name 5,320,000 [1]
Dispensary license 10,270,000 [1]
Liabilities (2,355,938)
Total identifiable net assets 22,568,405
Goodwill 28,921,260
Net assets $ 51,489,665
Customer Relationships [Member]  
Estimated useful lives 12 years
Dispensary license [Member]  
Estimated useful lives 14 years
Preliminary [Member]  
Current assets, (inclusive of cash of $163,566) $ 792,447
Property, plant and equipment 681,896
Customer relationships 7,480,800
Trade Name 4,280,000
Dispensary license 8,214,700
Liabilities (2,355,938)
Total identifiable net assets 19,093,905
Goodwill 32,395,760
Net assets $ 51,489,665
Preliminary [Member] | Customer Relationships [Member]  
Estimated useful lives 15 years
Preliminary [Member] | Trade Name [Member]  
Estimated useful lives 15 years
Preliminary [Member] | Dispensary license [Member]  
Estimated useful lives 15 years
Adjustments [Member]  
Current assets, (inclusive of cash of $163,566)
Property, plant and equipment
Customer relationships 379,200
Trade Name 1,040,000
Dispensary license 2,055,300
Liabilities
Total identifiable net assets 3,474,500
Goodwill (3,474,500)
Net assets
[1] The Company relied on an independent third-party expert appraiser valuation report in valuing certain assets which included Customer Relationships, Trade Name and Dispensary License.