General form of registration statement for all companies including face-amount certificate companies

Acquisitions - Franchisee/stores

v3.21.1
Acquisitions - Franchisee/stores
12 Months Ended
Dec. 31, 2020
Business Combination, Consideration Transferred [Abstract]  
Acquisitions - Franchisee/stores
7.
Acquisitions – Franchisee/stores
In April 2020, the Company entered into
 
an asset purchase agreement with a franchisee to purchase substantially all of the assets of a franchised store for an aggregate purchase price of $
1,250,000
. This purchase price consisted of: (a) $
650,000
cash paid at closing and (b) a $
600,000
promissory note to the franchisee (in thousands).
    
Predecessor
 
Inventory
   $ 15  
Property & equipment
     250  
    
 
 
 
Net tangible and identifiable intangible assets acquired
     265  
Goodwill
     985  
    
 
 
 
Net assets acquired
   $ 1,250