Digerati files ActiveServe acquisition financials; target earned $269K net on $1.95M revenue

Digerati Technologies, Inc.

Acquisition of ActiveServe closed Nov 17, 2020; total purchase price $2.555M in cash, note, and earn-out.
ActiveServe FY2020 (Jul 31): revenue $1.949M, net income $269K, total assets $523K.
ActiveServe Q1 FY2021 (Oct 31): revenue $463K (-11% YoY), net income $45K (-58% from $108K).
Digerati files pro forma combined financials for three months and year ended Jul 31, 2020.
Consulting agreements with two former ActiveServe executives at $90K/year each.

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