Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.24.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
SCHEDULE OF FAIR VALUE MEASUREMENTS

The following table summarized the financial instruments of the Company at fair value based on the valuation approach applied to each class of security as of December 31, 2023:

 

   

Carrying

Value at

December 31, 2023

   

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
          Fair Value Measurement at Reporting Date Using  
   

Carrying

Value at

December 31, 2023

   

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
Liabilities:                                
Fair Value of Share Adjustment   $ 36,931,330     $       -     $        -     $ 36,931,330  
Total Liabilities   $ 36,931,330     $ -     $ -     $ 36,931,330  
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF NET LOSS PER SHARE

The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise price could be less than the average market price of the common stock:

  

    2023     2022  
    Year Ended December 31,  
    2023     2022  
             
Warrants     39,350,000       -  
Acquisition Stock Consideration Payable     232,850,684       -  
Total     272,200,684       -