Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 54

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 goodwill acquired and the carrying
value consisted of the following:

SCHEDULE OF GOODWILL ACQUIRED

    March 31, 2025  
    June 30, 2024 

    Goodwill 
    $6,574,743  
    $6,574,743 
  
    Less: impairment for goodwill 
     (4,555,996) 
     (4,555,996)
  
    Goodwill, net 
     2,018,747  
     2,018,747 
  
    Less: goodwill, net held for discontinued operations 
     -  
     - 
  
    Goodwill, net held for continuing operations 
    $2,018,747  
    $2,018,747 

    27

The following table summarizes the allocation of estimated
fair values of net assets acquired and liabilities assumed:

SCHEDULE
OF ALLOCATION OF ESTIMATED FAIR VALUES

    Accounts receivable, net 
    $807,771 
  
    Inventories, net 
     784,336 
  
    Other current assets, net 
     49,979 
  
    Property and equipment, net 
     138,252 
  
    Intangible assets 
     12,683,656 
  
    Operating lease right-of-use assets 
     173,831 
  
    Goodwill 
     6,574,743 
  
    Deferred tax assets, net 
     346,523 
  
    Short-term bank loans 
     (1,594,596)
  
    Accounts payable 
     (349,989)
  
    Advances from customers 
     (407,437)
  
    Other current liabilities 
     (446,729)
  
    Operating lease liabilities - non-current 
     (45,730)
  
    Deferred tax liabilities 
     (1,937,804)
  
    Non-controlling interest 
     (5,301,785)
  
    Total purchase price for acquisition, net of US$621,979 of cash 
    $11,475,021 

The fair value of identified intangible assets, which
are trademarks and patents, and its estimated useful lives as of March 31, 2025 is as follows:

SCHEDULE
OF INTANGIBLE ASSETS

    Average

    Useful Life

    (in Years)

    Intangible assets 
    $12,683,656  
    10