Attached files
| file | filename |
|---|---|
| 8-K/A - LAKELAND INDUSTRIES INC | v176896_8ka.htm |
| EX-10.30 - LAKELAND INDUSTRIES INC | v176896_ex10-30.htm |
| EX-10.26 - LAKELAND INDUSTRIES INC | v176896_ex10-26.htm |
| EX-10.29 - LAKELAND INDUSTRIES INC | v176896_ex10-29.htm |
| EX-10.24 - LAKELAND INDUSTRIES INC | v176896_ex10-24.htm |
| EX-10.25 - LAKELAND INDUSTRIES INC | v176896_ex10-25.htm |
| EX-10.28 - LAKELAND INDUSTRIES INC | v176896_ex10-28.htm |
| EX-10.23 - LAKELAND INDUSTRIES INC | v176896_ex10-23.htm |
Exhibit
10.27
NOTES TO:
PROFORMA UNAUDITED CONDENSED COMBINED BALANCE SHEETS
APRIL 30,
2008
|
Transaction Amount
|
||||||||
|
(1)
Record intitial purchase price paid by Lakeland
|
$ | 13,344 | ||||||
|
(1a)
Estimated transaction costs:
|
||||||||
|
Brazil
tax on incoming capital
|
50 | - | ||||||
|
Estimated
legal & accounting fees
|
300 | 350 | ||||||
|
(2)
Record bank borrowing by Lakeland to cover cash out
|
- | |||||||
|
(3)
Record repayments of Qualytextil debt from purchase price
proceeds
|
(3,852 | ) | ||||||
|
(4)
Consolidation entries serve to eliminate the investment in subsidiaries
against the underlying net assets acquired of $137,000. Such acquired
assets are adjusted for estimated fair value of real estate at closing
resulting in a revaluation of $110,000. The difference is reflected as
goodwill. The Company is in the process of identifying intangible assets
arising from this transaction. The identified intangible assets if any
will be assigned values and amortized over their useful lives for assets
with finite lives. Intangible assets identified with infinite lives will
be tested for impairment annually. The goodwill of $9,595,000 will be
adjusted accordingly for the intangible assets recognized during this
process.
|
(110
(137
|
)
)
|
||||||
| $ | 9,595 | |||||||