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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
SCHEDULE OF CONSOLIDATED STATEMENTS OF CASH FLOWS

 

       
   Year Ended 
   December 31, 
   2022   2021 
         
Cash and cash equivalents  $2,847,871   $3,171,301 
Restricted cash   1,000,000    - 
Cash and cash equivalents and restricted cash  $3,847,871   $3,171,301 

SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME PER COMMON SHARE

The following table sets forth the computation of basic and diluted Income per Share:

 

   2022   2021 
   Year Ended 
   December 31, 
   2022   2021 
         
Numerator:          
           
Net income (loss)  $(14,253,483)  $5,144,490 
Preferred stock dividends   (652,827)   (652,834)
Numerator for basic and diluted EPS - income (loss) available to common shareholders  $(14,906,310)  $4,491,656 
           
Denominator:          
Denominator for basic EPS - Weighted average shares   3,377,676    3,178,215 
Dilutive effect of options   -    86,590 
Denominator for diluted EPS - Adjusted weighted average shares   3,377,676    3,264,805 
           
Basic income (loss) per common share  $(4.41)  $1.41 
Diluted income (loss) per common share  $(4.41)  $1.38 
SCHEDULE OF INTANGIBLE ASSETS

The following table provides a summary of the Intangible Assets and Liabilities:

 

For the Years Ended December 31, 2022 and 2021

 

     

Accumulated Amortization / Addition to Revenue

Through

   Accumulated Amortization / Addition to Revenue   Accumulated Amortization / Addition to Revenue   Impairment on Intangible   Net Book  
   Cost   12/31/20   2021   2022   2022   Value 
                         
Asset Intangibles - PWTS  $237,471   $72,043   $9,652   $9,654   $-   $146,122 
Asset Intangibles - PWRS  $4,713,548   $1,526,663   $227,488   $227,488   $-   $2,731,909 
Asset Intangibles  - Canndescent  $807,976   $-   $162,593   $134,662   $510,721   $- 
Asset Intangibles Total  $5,758,995   $1,598,706   $399,733   $371,804   $510,721   $2,878,031 
                               
Liability Intangible - Canndescent  $(178,651)  $-   $(35,951)  $(29,776)  $(112,924)  $- 
SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS

The following table provides a summary of the current estimate of future amortization of Intangible Assets:

 

      
2023  $227,488 
2024  $227,488 
2025  $227,488 
2026  $227,488 
2027  $227,488 
Thereafter   1,594,469 
Total  $2,731,909