SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2024 |
Accounting Policies [Abstract] |
|
SCHEDULES OF CONCENTRATION OF RISK, BY RISK FACTOR |
Following
is a summary of customers who accounted for more than ten percent (10%) of the Company’s revenues for the three and nine months
ended September 30, 2024, and 2023, and their accounts receivable balance as of September 30, 2024:
SCHEDULES OF CONCENTRATION OF RISK, BY RISK FACTOR
| |
Sales % Three Months Ended September 30,
2024 | | |
Sales % Nine Months Ended September 30,
2024 | | |
Sales % Three Months Ended September 30,
2023 | | |
Sales % Nine Months Ended September 30, 2023 | | |
Accounts receivable balance September 30,
2024 | |
Customer A | |
| 32.6 | % | |
| N/A | | |
| 82.5 | % | |
| 92.6 | % | |
$ | - | |
Customer B | |
| N/A | | |
| 67.9 | % | |
| N/A | | |
| N/A | | |
$ | - | |
Customer C | |
| 16.4 | % | |
| 18.7 | % | |
| N/A | | |
| N/A | | |
$ | - | |
Customer D | |
| 23.6 | % | |
| N/A | | |
| N/A | | |
| N/A | | |
$ | 17,500 | |
Customer E | |
| 10.1 | % | |
| N/A | | |
| N/A | | |
| N/A | | |
$ | 10,500 | |
|
SCHEDULE OF USEFUL LIFE OF PROPERTY AND EQUIPMENT ASSETS |
SCHEDULE OF USEFUL LIFE OF PROPERTY AND EQUIPMENT ASSETS
|
Building |
10-25
years |
|
Office
furniture and equipment |
3-5
years |
|
Warehouse
equipment |
7
years |
|
SCHEDULE OF DISAGGREGATION OF REVENUE |
The
following table disaggregates our revenue by major source for the three and nine months ended September 30, 2024, and 2023:
SCHEDULE OF DISAGGREGATION OF REVENUE
| |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| |
Three months ended September 30, | | |
Nine months ended September 30, | |
| |
2024 | | |
2023 | | |
2024 | | |
2023 | |
Sourced and distributed products | |
$ | 51,104 | | |
$ | 155,009 | | |
$ | 1,005,878 | | |
$ | 4,127,633 | |
OED Installations | |
| 23,182 | | |
| 17,550 | | |
| 262,102 | | |
| 77,450 | |
Total | |
$ | 74,286 | | |
$ | 172,559 | | |
$ | 1,267,980 | | |
$ | 4,205,083 | |
|
SCHEDULE OF DERIVATIVE INSTRUMENTS |
The
following table represents the Company’s derivative instruments that are measured at fair value on a recurring basis as of September
30, 2024, and December 31, 2023, for each fair value hierarchy level:
SCHEDULE OF DERIVATIVE INSTRUMENTS
September 30, 2024 | |
Derivative Liabilities | | |
Total | |
Level I | |
$ | - | | |
$ | - | |
Level II | |
$ | - | | |
$ | - | |
Level III | |
$ | 666,677 | | |
$ | 666,677 | |
December 31, 2023 | |
Derivative Liabilities | | |
Total | |
Level I | |
$ | - | | |
$ | - | |
Level II | |
$ | - | | |
$ | - | |
Level III | |
$ | 1,216,078 | | |
$ | 1,216,078 | |
|
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE |
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| |
September 30, 2024 | | |
September 30, 2023 | |
Convertible preferred stock (1) | |
| 10,021,982,759 | | |
| 7,586,559,420 | |
Unexercised common stock purchase warrants (1) | |
| 807,024,518 | | |
| 1,047,024,518 | |
Convertible notes payable (1) | |
| 68,791,734 | | |
| 20,535,748 | |
Promissory notes payable (1) | |
| 712,746,575 | | |
| 186,369,863 | |
Total | |
| 11,610,545,586 | | |
| 8,840,489,549 | |
(1) |
The
potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial
owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These
shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive
due to the Company’s net loss position. |
|