Annual report pursuant to Section 13 and 15(d)

ACQUISITION (Tables)

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ACQUISITION (Tables)
 12 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Schedule of consideration for Arcadian Services

The following table summarizes the allocation of the purchase consideration and the estimated fair value of the assets acquired and the liabilities assumed for the acquisition of Arcadian Services made by the Company:

 

Assets acquired:    
Cash $ 25,900    
Accounts receivable 57,100    
Other assets 24,000    
Intangibles 109,000    
Goodwill 1,386,800    
Total assets acquired $ 1,602,800    
     
Liabilities assumed    
Accounts payable $ 147,700    
Accrued other liabilities 108,700    
Notes payable 6,800    
Total liabilities assumed $ 263,200    
     
Net assets acquired $ 1,339,600    
     
Consideration paid:    
Initial investment in Arcadian Services 195,900    
Long-term debt 555,000    
Accrued interest 96,700    
Payment on warrant outstanding 175,000    

Forgiveness of loan in relation of acquisition

 317,000    
Total consideration $ 1,339,600    
Schedule of unaudited Pro Forma Financial Information

The pro forma adjustments are based upon available information and certain assumptions that the Company believes are reasonable.

 

Pro Forma   Years Ended September 30,
      2018       2017  
Revenues   $ 1,460,800     $ 1,154,500  
Net income (loss)   $ (10,558,000 )   $ (7,894,700 )
Basic and diluted loss per share:   $ (2.03 )   $ (2.80 )
         
weighted shares outstanding:   5,199,566     2,817,415