Quarterly report pursuant to Section 13 or 15(d)

Description of Business (Tables)

v3.7.0.1
Description of Business (Tables)
9 Months Ended
Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The purchase price (consisting of: $3,453,750 of assets contributed by Silvertowne, $3,721,250 of cash and agreement to contribute an additional $500,000 in cash on August 2017 by the Company, and $1,523,000 contingent earn-out obligation of AMST) has been allocated to the total assets purchased based on their fair value on the date of acquisition as follows:
Cash
 
$
300

Plant, property and equipment (tangible assets):
 
 
Plant equipment
 
1,802

Building
 
299

Land
 
36

Intangibles assets (identifiable):
 
 
     Trade name
 
1,800

     Existing customer relationships
 
700

Goodwill:
 
 
Excess of cost over fair value of assets acquired
 
2,738

 
 
7,675

Goodwill:
 
 
Contingent earn-out consideration
 
1,523

 
 
$
9,198