Company: TUTH
Filing Date: 2025-10-01
Form Type: 1-SA
Source: 0001683168-25-007356
Chunk: 3

Company: Standard Dental Labs Inc.
Filing Date: 2025-10-01
Form: 1-SA
Chunk 3
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,583,088 shares of the Company’s restricted common stock to SDL. With the conclusion of this
acquisition, the Company planned to operate in the dental lab industry, paving the way for future acquisitions and consolidations in the
industry. The assets acquired from SDL did not constitute an operating business, but rather an immediately actionable plan and branding
concept from which the Company identified its first operating dental lab targets.

On August 15, 2022, the Company announced the
completion of a definitive agreement to acquire the assets of Prime Dental Lab, LLC (“Prime Dental” or “PDL”),
an Orlando-based dental lab in operation since 2012. The purchased assets consisted of (i) accounts receivable; (ii) inventories; (iii)
deposits, advances, pre-paid expenses and credits relating to prepaid packages; (iv) furniture, fixtures, machinery, equipment, computer
hardware and software, and all other tangible assets; (v) intellectual property including the right to continue using the name “Prime
Dental Lab LLC; (vi) permits and licenses; and (vii) all information (including client lists), files, databases, correspondence, records,
data, plans, reports, etc. We accounted for the August 15, 2022 transaction with Prime Dental as a reverse recapitalization whereby Prime
Dental was determined as the accounting acquirer and Standard Dental as the accounting acquiree. This determination was primarily based
on Standard Dental acquiring all of the operating assets of Prime Dental, Standard Dental first commencing operating activities following
completion of the transaction and the Prime Dental assets acquired in the transaction accounting for the majority of Standard Dental’s
operating assets upon commencement of operations. While Standard Dental Labs was the legal acquirer, because Prime Dental was determined
the accounting acquirer, the historical financial statements of Prime Dental became the historical financial statement of Standard Dental,
upon consummation of the transaction, and the comparative financial information reflects the historical operations and financial position
of Prime Dental prior to the transaction. As a result, the financial statements included in the accompanying consolidated financial statements
reflect (i) the historical operating results of Prime Dental prior to the transaction; (ii) the combined results of Standard Dental and
Prime Dental following the closing of the transaction; (iii) the assets and liabilities of Standard Dental at their historical cost with
no goodwill or step-up in asset values; and (iv) Standard Dental’s equity structure for all periods presented (restated to reflect
the