| SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES |
The
AOS Acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations. The preliminary fair values
of the acquired assets and liabilities as of the acquisition date were:
SCHEDULE
OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES
| |
|
|
|
|
| Consideration2 |
|
$ |
12,608,560
|
|
| |
|
|
|
|
| Assets acquired: |
|
|
|
|
| Cash and cash equivalents |
|
|
200,661 |
|
| Accounts receivable |
|
|
153,764 |
|
| Prepaid and other assets |
|
|
167,565 |
|
| Inventory |
|
|
656,447 |
|
| PP&E, net |
|
|
16,622 |
|
| Intangibles |
|
|
17,309 |
|
| Right of use asset |
|
|
85,502 |
|
| Total
assets acquired |
|
|
1,297,871 |
|
| |
|
|
|
|
| Liabilities assumed: |
|
|
|
|
| Accrued liabilities |
|
|
562,919 |
|
| Accounts payable |
|
|
128,724 |
|
| Right of use liability |
|
|
87,539 |
|
| Total
liabilities assumed |
|
|
779,182 |
|
| |
|
|
|
|
| Net assets acquired |
|
|
518,698 |
|
| |
|
|
|
|
| Goodwill |
|
$ |
12,089,871 |
|
|
| SCHEDULE OF PROFORMA INFORMATION |
SCHEDULE OF PROFORMA INFORMATION
| |
|
Starco Brands Inc. |
|
|
The AOS Group Inc. |
|
|
Skylar Body, Inc. |
|
|
Proforma Starco Brands Inc. |
|
| |
|
For the Year Ended December 31, 2022 |
|
| |
|
Starco Brands Inc. |
|
|
The AOS Group Inc. |
|
|
Skylar Body, Inc. |
|
|
Proforma Starco Brands Inc. |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
6,786,051 |
|
|
$ |
4,616,836 |
|
|
$ |
10,433,927 |
|
|
$ |
21,836,813 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
|
$ |
1,036,346 |
|
|
$ |
(4,101,867 |
) |
|
$ |
(4,832,595 |
) |
|
$ |
(7,326,688 |
) |
| Net income attributable to non-controlling interest |
|
$ |
167,891 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
167,891 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) attributable to Starco Brands |
|
$ |
1,439,883 |
|
|
$ |
(4,101,867 |
) |
|
$ |
(4,832,595 |
) |
|
$ |
(7,494,580 |
) |
| |
|
Starco Brands Inc. |
|
|
The AOS Group Inc. |
|
|
Skylar Body, Inc. |
|
|
Proforma Starco Brands Inc. |
|
| |
|
For the Year Ended December 31, 2021 |
|
| |
|
Starco Brands Inc. |
|
|
The AOS Group Inc. |
|
|
Skylar Body, Inc. |
|
|
Proforma Starco Brands Inc. |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
673,329 |
|
|
$ |
10,101,584 |
|
|
$ |
8,835,330 |
|
|
$ |
19,610,243 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Loss |
|
$ |
(2,325,074 |
) |
|
$ |
(3,984,781 |
) |
|
$ |
(4,949,599 |
) |
|
$ |
(11,259,454 |
) |
| Net Income (Loss) |
|
$ |
(2,325,074 |
) |
|
$ |
(3,984,781 |
) |
|
$ |
(4,949,599 |
) |
|
$ |
(11,259,454 |
) |
| Net (income) attributable to non-controlling interest |
|
$ |
(73,909 |
) |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(73,909 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) attributable to Starco Brands |
|
$ |
(2,251,165 |
) |
|
$ |
(3,984,781 |
) |
|
$ |
(4,949,599 |
) |
|
$ |
(11,185,545 |
) |
|
| SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES |
The
Skylar Acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations. The preliminary fair
values of the acquired assets and liabilities as of the acquisition date were:
SCHEDULE
OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES
| |
|
|
|
|
| Consideration3 |
|
$ |
21,900,062 |
|
| |
|
|
|
|
| Assets acquired: |
|
|
|
|
| Cash and cash equivalents |
|
|
339,679 |
|
| Accounts receivable |
|
|
381,762 |
|
| Prepaid and other assets |
|
|
701,566 |
|
| Inventory |
|
|
2,508,287 |
|
| PP&E, net |
|
|
25,942 |
|
| Intangibles |
|
|
161,693 |
|
| Total assets acquired |
|
|
4,118,929 |
|
| |
|
|
|
|
| Liabilities assumed: |
|
|
|
|
| Accrued liabilities |
|
|
540,036 |
|
| Accounts payable |
|
|
2,425,524 |
|
| Total
liabilities assumed |
|
|
2,965,560 |
|
| |
|
|
|
|
| Net assets acquired |
|
|
1,153,369 |
|
| |
|
|
|
|
| Goodwill |
|
$ |
20,746,692 |
|
|