Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.3
Acquisitions (Tables)
3 Months Ended
Aug. 31, 2019
Simplicity Esports, LLC Acquisition [Member]  
Business Acquisition [Line Items]  
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     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, 2018:

 

    Three Months Ended
August 31, 2018
 
       
Total Revenue   $ 8,000  
Net (Loss)   $ (104,000 )
Basic Net Loss Per Share   $ (.05 )
PLAYlive Nations, Acquisition [Member]  
Business Acquisition [Line Items]  
Schedule of Aggregate Purchase Price

The aggregate purchase price consisted of the following:

 

Restricted stock consideration     1,440,000  
Total   $ 1,440,000  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities

The following table summarizes the estimated fair value of the PLAYLive assets acquired and liabilities assumed at the date of acquisition:

 

Cash     26,000  
Property, plant and equipment (provisional)     9,000  
Net deferred revenue (provisional)     (818,000 )
Customer relationships (provisional)     -  
Accounts payable and accrued liabilities     (4,000 )
Goodwill (provisional)     2,227,000  
Total   $ 1,440,000  
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 PLAYLive took place on June 1, 2018:

 

   

Three

Months

Ended

August 31, 2019

   

Three

Months

Ended

August 31, 2018

 
             
Total Revenue   $ 250,000     $ 176,000  
Net Loss   $ (293,000 )   $ (14,000 )
Basic Net Loss Per Share   $ (0.04 )   $ (0.01 )