Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.2
Acquisitions (Tables)
12 Months Ended
May 31, 2019
Business Combinations [Abstract]  
Schedule of Aggregate Purchase Price

The aggregate purchase price consisted of the following:

 

Restricted stock consideration     6,090,000  
Total   $ 6,090,000  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities

The following table summarizes the estimated fair value of The Simplicity Esports, LLC assets acquired and liabilities assumed at the date of acquisition:

 

Cash     76,000  
Internet Domain     3,000  
Trade names and trademarks     588,000  
Non-Competes     1,023,118  
Accounts payable and accrued liabilities     (56,000 )
Goodwill (provisional)     4,455,882  
Total   $ 6,090,000  
Schedule of Unaudited Pro Forma Information Below Presents the Consolidated Results Operations

The following unaudited pro forma information below presents the consolidated results operations data as if the acquisition of Simplicity Esports, LLC took place on June 1, 2017:

 

   

Year Ended

May 31, 2019

   

Year Ended

May 31, 2018

 
             
Total Revenue   $ 53,932     $  
Net (Loss)   $ (3,767,067 )   $ (210,657 )
Basic Net Loss Per Share   $ (1.06 )   $ 0.00