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JOINT VENTURE (Tables)
12 Months Ended
Dec. 31, 2021
SCHEDULE OF INVESTMENT IN JOINT VENTURE

The Company’s investment in joint venture during the year can be summarized as follows:

   December 31, 2021 
     
Investment  $22,500,000 
Unrecognized gain on contribution of intellectual property   (19,912,500)
Share of loss in joint venture   (1,142,249)
      
Investment balance  $1,445,251 
SCHEDULE OF FINANCIAL INFORMATION OF JOINT VENTURE

Summarized financial information of the joint venture is as follows:

 

   December 31, 2021 
     
Current assets  $2,287,252 
Intangible assets  $22,500,000 
Liabilities  $(44,683)
Owners Equity  $(24,742,569)
      
Net loss  $1,212,417