Acquisition of Shanghai Engin Digital Technology Co. Ltd (Details) - Shanghai Engin Digital Technology [Member] - USD ($) |
1 Months Ended | 9 Months Ended |
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Dec. 20, 2019 |
Dec. 31, 2020 |
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Acquisition of Shanghai Engin Digital Technology Co. Ltd (Details) [Line Items] | ||
Business combination, description | The acquisition was concluded concurrently with two groups. The first purchase of the 75% interest was acquired for consideration of $5,864,234 (¥41,000,000) upon signing (paid), plus a further $2,145,002 (¥15,000,000) due by March 20, 2020 (partially paid) and a final conditional payment of $2,860,002 (¥20,000,000) by June 30, 2020 (not paid). The Company has made a partial payment of $1,072,961 (¥7,500,000) on the outstanding amount of $2,145,002 (¥15,000,000). The remaining 25% interest was acquired for consideration of 125,000 new shares of the Company (issued after year end), plus a further conditional $286,000 (¥2,000,000) payable by June 30, 2020 (not paid). The required conditions for the final payment were not met by the selling party. As a result, the company derecognized the liability and recorded a gain of $3,240,250 (¥22,000,000). On June 19, 2020, Engin’s name was changed to Pacific Green Technologies (Shanghai) Co. Ltd. | |
Total purchase | $ 11,052,307 | |
Issuance of shares (in Shares) | 125,000 | |
Estimated fair value | $ 368,750 | |
Estimated fair value, per share (in Dollars per share) | $ 2.95 | |
Preliminary cash | $ 2,063,358 | |
Working capital, net | 1,024,461 | |
Property and equipment | 931,554 | |
Intangible assets | 4,112,462 | |
Translation adjustment | 470,847 | |
Goodwill | $ 3,760,079 |
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- Definition Estimated fair value. No definition available.
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- Definition Estimated fair value, per shares. No definition available.
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- Definition Preliminary Cash. No definition available.
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- Definition working capital, net. No definition available.
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- Definition This element represents a narrative description of the nature of receivables acquired in a business combination (as defined) including the nature of the receivables (such as loans, capital leases), the fair value of the acquired receivables, the gross contractual amount to be collected, and the amount estimated to be doubtful of collection, if any. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after accumulated amortization of finite-lived and indefinite-lived intangible assets classified as other. No definition available.
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the restructuring reserve related to foreign currency translation (gain) loss and other increases (decreases). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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