Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
SCHEDULE OF FAIR VALUE MEASUREMENTS

The following table summarizes the financial instruments of the Company at fair value based on the valuation approach applied to each class of security as of March 31, 2024:

 

   

Carrying

Value at

March 31,

2024

   

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

March 31,

2024

   

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 potential Share Adjustment   $ 20,753,328     $          -     $                 -     $ 20,753,328  
Total Liabilities   $ 20,753,328     $ -     $ -     $ 20,753,328  
SCHEDULE OF FAIR VALUE OF SHARE ADJUSTMENT

The following table presents a reconciliation of the opening and closing balances of the Fair Value of Share Adjustment for the three months ended March 31, 2024:

 

 SCHEDULE OF FAIR VALUE OF SHARE ADJUSTMENT

    Fair Value of Share Adjustment  
       
Balance at December 31, 2023   $ 36,931,130  
Fair Value of Shares Issued     (18,099,951 )
Loss on Fair Value of Share Adjustment     1,921,949  
Balance at March 31, 2024   $ 20,753,328  
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:

 

    2024     2023  
    Three Months Ended March 31,  
    2024     2023  
Warrants     39,350,000       41,200,000  
Stock options     4,660,000       -  
Acquisition Stock Consideration Payable     142,146,084       283,063,583  
Total     181,156,084       324,263,583