Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets and Acquisition of Intermeccanica (Tables)

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Goodwill and Intangible Assets and Acquisition of Intermeccanica (Tables)
12 Months Ended
Dec. 31, 2018
Acquisition of Intermeccanica [Abstract]  
Schedule of consideration paid for Intermeccanica
Fair value of purchase consideration at October 18, 2017        
Cash   $ 1,000,000  
Promissory note     1,500,000  
Total consideration   $ 2,500,000  
         
Fair value amounts of identifiable assets acquired and liabilities assumed        
Cash   $ 59,449  
Receivables     65,565  
Prepaid expenses     12,848  
Inventory     188,811  
Plant and equipment     24,282  
Intangible assets:        
Customer relationships     87,000  
Contracted backlog     23,000  
Non-compete covenants     25,000  
Trade name     423,000  
Trades payable and accrued liabilities     (91,025 )
Customer deposits     (167,236 )
Shareholder loans     (43,538 )
Deferred income tax     (149,794 )
Total net identifiable assets     457,362  
Goodwill and other intangible assets     2,042,638  
Total   $ 2,500,000  
Schedule of goodwill and other intangible assets
    December 31,
2018
    December 31,
2017
 
Identifiable intangibles on acquisition of Intermeccanica   $ 529,067     $ 558,000  
Goodwill on acquisition of Intermeccanica     699,844       699,844  
Other intangibles     10,212       2,170  
    $ 1,239,123     $ 1,260,014