Quarterly report pursuant to Section 13 or 15(d)

VARIAN ACQUISITION

v3.21.2
VARIAN ACQUISITION
6 Months Ended
Jun. 30, 2021
VARIAN ACQUISITION  
Note 5 - Varian acquisitions

NOTE 5 - VARIAN ACQUISITION

 

On May 7, 2021 the Company acquired ownership of Varian Biopharmaceuticals, Inc. in exchange for 29,737.184 shares of Series C Preferred Stock issued by Healthtech Solutions. The Company determined that the fair value of the Series C Preferred Stock was equal to the amount of cash acquired in the transaction plus the amount of debt in excess of that cash that was assumed, and on a preliminary basis allocated the fair value accordingly between the assets acquired and the liabilities assumed. The Company will continue to review the facts and circumstances that are relevant to a measurement of the fair value of Varian's assets, and may, during the applicable measurement period, retrospectively adjust the allocation of the purchase price to reflect any new information obtained. 

  

The following table summarizes the provisional fair values of the assets acquired and liabilities assumed on May 7, 2021.

 

Assets acquired:

 

 

 

Cash

 

$ 1,658

 

Goodwill

 

 

1,104,388

 

Total assets acquired

 

 

1,106,046

 

 

 

 

 

 

Liabilities assumed:

 

 

 

 

Accounts payable

 

 

10,372

 

Accrued expenses

 

 

370,594

 

Loans payable

 

 

725,080

 

Total liabilities assumed

 

 

1,106,046

 

 

 

 

 

 

Total purchase price

 

$ 0