Cubellis, Inc. - Laserfiche WebLink

Home Browse Search

I I .e I I I I I I Ie I I I I I I I .e I CUBELLlS BUSINESS TRUST ~OTES TO CONSOLIDATED FINANCIAL STA TEM ENTS Note 15 - Supplementary Cash Flow Oisclosures (Continued) Investment in Ecoplan. P.A. Assets and liabilitics assumcd in connection \vith the asset purchase agrccmcnt with Ecoplan. P.:\. on July 1.2005 consisted of the following: Accounts receivable, net Equipmcnt and improvements. net Ohligations under capital leases Accounts payahle S 538.382 160,007 ( 135,007) (520.04:5) Thc excess of the consideration paid <Ind transaction costs incurred over the faIr vallle of the net assets acquired rcsulted in the recognition of goodwIll in the amount of S69..U 36. Investment in :\Iann. Gin. Duhin & Frazier. Ltd. Assets and liabilities assumcd in connection with its acquisition of '\lJnn. Gin, Dubin 8.: FraLia. Ltd. on September 1,200:5 consisted oCthe follo\\-ing: Accounts rcceivable, net Equipment and improvements, net s 6:50,000 2:5.000 The excess of the consideration paid and transaction costs incurred over the fair valuc of the assets acquired resulted in the recognition of good\vill in the amount 01'5576.139. Redemption of Common Stock In 200:5, the Trust issued a note payable to a shareholder (see Note 8) in the amount of 5 180,276 as consideration for shares of common stock redeemed by the Trust. ~ote 16.. Suhsequent Evcnts On January I. 2006 ancl February I, 2006, the Trust completed its aCljulsltlons of Design Concepts Architects. PC (DCA) and GBQC Architects, P.c. (GBQC). respectively. Aggregate consideration paid for these acquisitions consisted of cash to the seller of DCA of S 175,000, a note payable to the seller of DCA in the amount of S \75,000 and shares of beneficial interest in the Trust to the sellers of DCA and GBQC in the amount of S-P5,OOO and 5567.000, respectively. 14