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BUSINESS COMBINATION (Tables)
9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
SCHEDULE OF UNAUDITED PRO FORMA INFORMATION

The acquired business did not contribute revenues or earnings to the Company for the period from August 16, 2024 to September 30, 2024. The following unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred on January 1, 2023.

 

   Pro forma
nine months ended September 30, 2024
   Pro forma year ended December 31, 2023 
Revenue   41,315    262,991 
Net loss   13,407,164    11,740,635 
SCHEDULE OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED

The following table summarizes the consideration transferred to acquire RCS and the amounts of identified assets acquired and liabilities assumed at the acquisition date.

 

      
Note payable forgiven   202,093 
Convertible debentures repaid on behalf of RCS   153,986 
Common shares   295,000 
Contingent consideration   79,000 
Previously invested equity   118,850 
Purchase price  $848,929 

 

 

   August 16, 2024 
Purchase price   

848,929

 
      

Assets acquired

     
In-process research and development   300,000 
Trademark   10,000 
Brand logo   10,000 
Web domain   10,000 
Customer list   138,000 
Device firmware and software   50,000 
Blueprints   20,000 
Fair value of identified net assets acquired   538,000 
Goodwill acquired on acquisition  $310,929