SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF RECLASSIFIED PRIOR YEAR EXPENSES |
SCHEDULE
OF RECLASSIFIED PRIOR YEAR EXPENSES
| Account |
|
Previously
Recorded Balance |
|
|
Corrected
Balance |
|
|
Reclassification
Made |
|
|
Previously
Recorded Balance |
|
|
Corrected
Balance |
|
|
Reclassification
Made |
|
| |
|
Three Months Ended September 30, 2023 |
|
|
Nine Months Ended September 30, 2023 |
|
| Account |
|
Previously Recorded Balance |
|
|
Corrected Balance |
|
|
Reclassification Made |
|
|
Previously Recorded Balance |
|
|
Corrected Balance |
|
|
Reclassification Made |
|
| Statement of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
9,364,322 |
(1) |
|
|
9,931,269 |
(1) |
|
|
(566,947 |
) |
|
|
24,710,535 |
|
|
|
26,011,817 |
|
|
|
(1,301,282 |
) |
| Marketing, general and administrative |
|
|
5,522,525 |
|
|
|
4,955,578 |
|
|
|
566,947 |
|
|
|
14,248,632 |
|
|
|
12,947,350 |
|
|
|
1,301,282 |
|
| (1) |
Note that the balance referenced is the sum of the cost of goods sold and the cost of goods
sold, related parties accounts. |
|
| 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 September 30, 2024:
SCHEDULE OF FAIR VALUE MEASUREMENTS
| |
|
Carrying Value
at September
30, 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 September 30, 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 |
|
$ |
35,547,015 |
|
|
$ |
-
|
|
|
$ |
-
|
|
|
$ |
35,547,015 |
|
| Total Liabilities |
|
$ |
35,547,015 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
35,547,015 |
|
|
| 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 nine months
ended September 30, 2024:
SCHEDULE OF FAIR VALUE OF SHARE ADJUSTMENT
| |
|
Fair Value of Share Adjustment |
|
| |
|
|
|
| Balance at December 31, 2023 |
|
$ |
36,931,330 |
|
| Fair Value of Shares Issued |
|
|
(17,087,364 |
) |
| Loss on Fair Value of Share Adjustment |
|
|
15,703,049 |
|
| Balance at September 30, 2024 |
|
$ |
35,547,015 |
|
|
| 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:
SCHEDULE
OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF NET LOSS PER SHARE
| |
|
2024 |
|
|
2023 |
|
| |
|
Nine Months Ended September 30, |
|
| |
|
2024 |
|
|
2023 |
|
| Warrants |
|
|
39,350,000 |
|
|
|
39,350,000 |
|
| Stock options |
|
|
4,760,000 |
|
|
|
- |
|
| Stock Options [Member] |
|
|
4,760,000 |
|
|
|
- |
|
| Acquisition Stock Consideration Payable |
|
|
366,464,075 |
|
|
|
325,785,637 |
|
| Total |
|
|
410,574,075 |
|
|
|
365,135,637 |
|
| Antidilutive securities |
|
|
410,574,075 |
|
|
|
365,135,637 |
|
|