SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF RECLASSIFIED PRIOR YEAR EXPENSES |
SCHEDULE
OF RECLASSIFIED PRIOR YEAR EXPENSES
| Account |
|
Recorded
Balance |
|
|
Corrected
Balance |
|
|
Reclassified
Amount |
|
| |
|
Three
Months Ended March 31, 2024 |
|
| |
|
Previously |
|
|
|
|
|
|
|
| Account |
|
Recorded
Balance |
|
|
Corrected
Balance |
|
|
Reclassified
Amount |
|
| Statement
of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
|
15,490,681 |
|
|
|
15,239,387 |
|
|
|
(251,294 |
) |
| Cost
of goods sold |
|
|
8,476,537 |
|
|
|
8,225,243 |
|
|
|
(251,294 |
) |
| Gross
profit |
|
|
7,014,144 |
|
|
|
7,014,144 |
|
|
|
- |
|
|
| 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,
2025:
SCHEDULE OF FAIR VALUE MEASUREMENTS
| |
|
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 |
|
$ |
5,607,174 |
|
|
$ |
-
|
|
|
$ |
-
|
|
|
$ |
5,607,174 |
|
| Total Liabilities |
|
$ |
5,607,174 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,607,174 |
|
|
| 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, 2025:
SCHEDULE OF FAIR VALUE OF SHARE ADJUSTMENT
| |
|
Fair Value of Share Adjustment |
|
| |
|
|
|
| Balance at December 31, 2024 |
|
$ |
9,299,703 |
|
| Fair Value of Shares Issued |
|
|
- |
|
| Gain on Fair Value of Share
Adjustment |
|
|
(3,692,529 |
) |
| Balance at March 31, 2025 |
|
$ |
5,607,174 |
|
|
| 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 income (loss) position even though the exercise price could
be less than the average market price of the Class A common stock:
SCHEDULE
OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF NET LOSS PER SHARE
| |
|
2025 |
|
|
2024 |
|
| |
|
Three Months Ended March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Warrants |
|
|
38,850,000 |
|
|
|
39,350,000 |
|
| Stock options |
|
|
3,602,500 |
|
|
|
4,660,000 |
|
| Stock options [Member] |
|
|
3,602,500 |
|
|
|
4,660,000 |
|
| Acquisition Stock Consideration Payable |
|
|
136,760,338 |
|
|
|
142,146,084 |
|
| Total |
|
|
179,212,838 |
|
|
|
186,156,084 |
|
| Antidilutive securities |
|
|
179,212,838 |
|
|
|
186,156,084 |
|
|