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10-K - FORM 10-K - ENTEST BIOMEDICAL, INC.entb0129form10k.htm
EX-32.1 - EXHIBIT 32.1 - ENTEST BIOMEDICAL, INC.entb0129form10kex321.htm
EX-31.2 - EXHIBIT 31.2 - ENTEST BIOMEDICAL, INC.entb0129form10kex312.htm
EX-32.2 - EXHIBIT 32.2 - ENTEST BIOMEDICAL, INC.entb0129form10kex322.htm
EX-31.1 - EXHIBIT 31.1 - ENTEST BIOMEDICAL, INC.entb0129form10kex311.htm
EX-10.37 - EXHIBIT 10.37 - ENTEST BIOMEDICAL, INC.entb0129form10kex1037.htm
EXCEL - IDEA: XBRL DOCUMENT - ENTEST BIOMEDICAL, INC.Financial_Report.xls
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EX-10.39 - EXHIBIT 10.39 - ENTEST BIOMEDICAL, INC.entb0129form10kex1039.htm
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v2.4.0.6
ACQUISITION OF THE ASSETS OF PET POINTERS, INC.
12 Months Ended
Aug. 31, 2012
Business Combinations [Abstract]  
ACQUISITION OF THE ASSETS OF PET POINTERS, INC.

NOTE 9.  ACQUISITION OF THE ASSETS OF PET POINTERS, INC.

 

On January 4, 2011Entest CA acquired from Pet Pointers, Inc., a California corporation doing business as McDonald Animal Hospital (“Seller”), and Dr. Gregory McDonald DVM (“McDonald”) all the goodwill from McDonald and assets of Seller except cash and accounts receivables used in connection with the operation of a veterinary medical clinic located at 225 S. Milpas Street, Santa Barbara, CA 93103 (the "Business").

 

Consideration for the acquisition consisted of:

 

   I. $70,000 in cash

 

   II. $210,000 of the Company’s  common shares valued at the closing price per share as of January 4, 2011

 

   III. Payment of no more than $78,000 to a creditor of the Seller to be paid in monthly installments of $1,500 per month

 

   IV. Payment of no more than $25,000 to additional creditors of the Seller to be paid in monthly installments of $825 per month

 

   V. Payment of $50,000 to McDonald on the first business day of the fourth month following the closing of the acquisition (“Closing”)