Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

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ACQUISITION (Tables)
 3 Months Ended
Dec. 31, 2017
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 unaudited pro forma information presented does not purport to be indicative of the results that would have been achieved had the acquisitions been consummated at October 1, 2016 nor of the results which may occur in the future. The pro forma adjustments are based upon available information and certain assumptions that the Company believes are reasonable. 

 

    For Three Months Ended December 31,  
    2017     2016  
Revenues   $ 267,200     $ 259,200  
Net income (loss)   $ (2,949,100 )   $ (1,789,000 )
Net income (loss) per common share:                
Basic and diluted   $ (0.68 )   $ (0.85 )
                 
Outstanding at Weighted average shares outstanding     4,332,927       2,101,061