Wildman Acquisition

In connection with the asset acquisition of Wildman Imprints on September 26, 2020, the customer list was purchased using a Contingent Earn-Out Calculation.. The purchase price is equal to fifteen percent (15%) of the gross profit earned from the sale of product to the customer list for years 1 and thirty percent (30%) for years 2 and 3. Payments are due on the first anniversary date of the purchase and then quarterly thereafter. At December 31, 2023 and 2022, the current portion of the earn-out liability amounted to zero and $742,874, respectively. At December 31, 2023 and 2022, the long-term portion of the earn-out liability amounted to zero.

G.A.P. Acquisition

In connection with the asset acquisition, as discussed in Note N, the customer list was purchased using a Contingent Earn-Out Calculation. The purchase price is equal to seventy percent (70%) of the gross profit over $1,500,000 earned from the sale of product to the customer list for years 1 and 2 in addition to fixed payments of $180,000 and $300,000 for years 1 and 2, respectively. Payments are due on the anniversary date of the purchase. At December 31, 2023 and 2022, the current portion of the earn-out liability amounted to $986,000 and $649,000, respectively. At December 31, 2023 and 2022, the long-term portion of the earn-out liability amounted to zero and $986,000, respectively.

Trend Acquisition

In connection with the asset acquisition, as discussed in Note N, the customer list was purchased using a Contingent Earn-Out Calculation. The purchase price is equal to forty percent (40%) of the gross profit over $800,000 earned from the sale of product to the customer list for years 1 through 4 in addition to fixed payments of $37,500 for years 1 and 2 and $25,000 for years 3 and 4, respectively. Payments are due on the anniversary date of the purchase. At December 31, 2023 and 2022, the current portion of the earn-out liability amounted to $265,000 and $155,500, respectively. At December 31, 2023 and 2022, the long-term portion of the earn-out liability amounted to $949,844 and $1,214,844, respectively.

Premier Acquisition

In connection with the asset acquisition, as discussed in Note N, the customer list was purchased using a Contingent Earn-Out Calculation. The purchase price is equal to forty-five percent (45%) of the gross profit over $350,000 earned from the sale of product to the customer list for years 1 through 3 in addition to fixed payments of $60,000 for year 1, $40,000 for year 2, and $30,000 for year 3. Payments are due on the anniversary date of the purchase. At December 31, 2023 and 2022, the current portion of the earn-out liability amounted to $356,500 and $262,500, respectively. At December 31, 2023 and 2022, the long-term portion of the earn-out liability amounted to $348,600 and $645,100, respectively.

T R Miller Acquisition

In connection with the asset acquisition, as discussed in Note N, the customer list was purchased using a Contingent Earn-Out Calculation. The purchase price is equal to forty-five percent (45%) of the gross profit over $4,000,000 earned from the sale of product to the customer list for years 1 through 4 in addition to a fixed payments of $400,000 for year 1, $300,000 for year 2, and $200,000 for years 3 and 4. Payments are due on the anniversary date of the purchase. At December 31, 2023 and 2022, the current portion of the earn-out liability amounted to $1,262,774 and zero, respectively. At December 31, 2023 and 2022, the long-term portion of the earn-out liability amounted to $3,288,321 and zero, respectively.