Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

v3.8.0.1
ACQUISITIONS (Tables)
12 Months Ended
Dec. 31, 2017
Acquisitions Tables  
Schedule of allocation of the purchase price
Finished Goods Inventory   $ 58,622  
Trademarks     300,000  
Patent     3,078  
Customer Relationships     888,300  
         
Total Assets Acquired   $ 1,250,000  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
    Preliminary           Final  
    as of           as of  
    April 1,
2016
    Adjustments     December 31, 2016  
                   
Current Assets (Inclusive of Cash of $163,566)   $ 792,447     $ –     $ 792,447  
Property, Plant and Equipment     681,896       –       681,896  
Customer Relationships     7,480,800       379,200       7,860,000 *
Trade Name     4,280,000       1,040,000       5,320,000 *
Dispensary License     8,214,700       2,055,300       10,270,000 *
Liabilities     (2,355,938 )     –       (2,355,938 )
                         
Total Identifiable Net Assets     19,093,905       3,474,500       22,568,405  
Goodwill     32,395,760       (3,474,500 )     28,921,260  
                         
Net Assets   $ 51,489,665     $ –     $ 51,489,665  
                         

___________________

* The Company received an independent third-party expert appraiser valuation report in valuing certain assets which included Customer Relationships, Trade Name and Dispensary License. Management is fully responsible for the valuation of the assets. 

Summary of the purchase price
Purchase Price Detail  

Series B

Preferred Stock

   

Series Q

Preferred Stock

   

Series Z

Preferred Stock

    Preferred Stock Converted into Common Stock    

Total

Consideration

 
                               
Closing Consideration     83,220       246       78       2,464,066     $ 9,683,779  
Lockup Consideration     297,925       596       281       7,392,197       29,051,334  
Holdback Consideration     196,769       583       185       5,826,147       11,324,969  
Performance-Based Cash Consideration     –       –       –       –       1,429,583  
                                         
Totals     577,914       1,425       544       15,682,410     $ 51,489,665  
Acquisition with a purchase price
Assets Acquired      
Inventory   $ 113,779  
Property, Equipment and Leasehold Improvements:        
Furniture and Equipment     52,829  
Leasehold Improvements     46,737  
Security Deposits     5,000  
Management Service Agreement     6,621,580  
Total Assets Acquired   $ 6,839,925  
Pro Forma Results of Operations
    Pro Forma Results of Operations  
   

For the Year Ended

December 31,

 
    (Unaudited)  
    2017     2016  
Revenues   $ 38,208,172     $ 28,207,138  
                 
Net Loss Attributable to Terra Tech Corp.   $ (33,472,729 )   $ (27,863,773 )
Net Loss per Common Share Attributable to Terra Tech Corp. Common Stockholders - Basic and Diluted                
    $ (0.73 )   $ (1.07 )