SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF RECLASSIFIED PRIOR YEAR EXPENSES |
SCHEDULE
OF RECLASSIFIED PRIOR YEAR EXPENSES
| |
|
|
|
|
|
|
|
|
|
| |
|
Year
Ended December 31, 2023 |
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| |
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Previously |
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|
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|
|
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| Account |
|
Recorded
Balance
|
|
|
Corrected
Balance |
|
|
Reclassified
Amount |
|
| Statement
of Operations |
|
|
|
|
|
|
|
|
|
Revenue |
|
53,514,516 |
|
|
51,948,733 |
|
|
(1,565,783 |
) |
| Cost
of goods sold |
|
|
34,743,117 |
|
|
|
34,991,482 |
|
|
|
248,365 |
(1) |
| Marketing,
general and administrative |
|
|
21,643,733 |
|
|
|
19,829,585 |
|
|
|
(1,814,148
|
) |
| (1) |
Note
that the balance mentioned is the sum of (i) the adjustment of $1,814,148 to increase cost of goods sold and (ii) the adjustment of
$1,565,783 to decrease cost of goods sold, for a net increase of $248,365. |
|
| 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, 2024:
SCHEDULE OF FAIR VALUE MEASUREMENTS
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Fair
Value Measurement at Reporting Date Using |
|
| |
|
|
Carrying
Value
at December
31, 2024
|
|
|
|
Quoted
Prices in
Active Markets
for Identical Assets (Level
1)
|
|
|
|
Significant Other Observable Inputs (Level
2)
|
|
|
|
Significant Unobservable Inputs (Level
3)
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|
| Liabilities: |
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|
|
|
|
|
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|
|
|
|
|
|
| Fair
Value of Share Adjustment |
|
$ |
9,299,703 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
9,299,703 |
|
| Total
Liabilities |
|
$ |
9,299,703 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
9,299,703 |
|
|
| 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 years ended
December 31, 2024 and 2023:
SCHEDULE OF FAIR VALUE OF SHARE ADJUSTMENT
| |
|
Fair
Value of Share Adjustment |
|
| Balance at Acquisition Date |
|
$ |
36,715,800 |
|
| Loss on Fair Value of Share Adjustment |
|
|
215,531 |
|
| Balance
at December 31, 2023 |
|
|
36,931,330 |
|
| Fair
Value of Shares Issued |
|
|
(17,087,364 |
) |
| Gain
on Fair Value of Share Adjustment |
|
|
(10,544,263 |
) |
| Balance
at December 31, 2024 |
|
$ |
9,299,703 |
|
|
| 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 |
|
| |
|
Year
Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
| Warrants |
|
|
39,100,000 |
|
|
|
39,350,000 |
|
| Stock
Options |
|
|
3,640,000 |
|
|
|
- |
|
| Stock Options [Member] |
|
|
3,640,000 |
|
|
|
- |
|
| Acquisition
Stock Consideration Payable |
|
|
136,760,338 |
|
|
|
232,850,684 |
|
| Total |
|
|
179,500,338 |
|
|
|
272,200,684 |
|
| Antidilutive securities |
|
|
179,500,338 |
|
|
|
272,200,684 |
|
|