AMALGAMATION WITH MAGICMED INDUSTRIES INC. (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

SCHEDULE OF BUSINESS ACQUISITIONS

Stock (9,951,217 common shares issued)	$	27,067,310
Fair value of warrants		10,724,578
Fair value of options		1,250,394
Deferred tax liability incurred		9,061,927
Total Purchase Price	$	48,104,209

SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED

Description	Fair Value
Assets acquired:
Cash	$	3,055,327
Prepaid expenses and other current assets		440,968
Government remittances recoverable		25,607
Property and equipment		143,945
Other assets		11,182
In process research and development		36,246,678
Goodwill		9,061,927
Total assets acquired	$	48,985,634
Liabilities assumed:
Accounts payable	$	811,961
Accrued expenses and other liabilities		69,464
Deferred Tax Liabilities		9,061,927
Total liabilities assumed		9,943,352
Estimated fair value of net assets acquired attributable to the Company	$	39,042,282

SCHEDUELE OF PROFORMA INFORMATION

		For the Three Months Ended September 30, 2020			For the Nine Months Ended September 30, 2020
Revenues	$	-		$	-
Net loss	$	(862,582	)	$	(2,810,104	)

Enveric Biosciences, Inc. and Subsidiaries

Notes to Unaudited Condensed Consolidated Financial Statements

		For the Three Months Ended September 30, 2021			For the Nine Months Ended September 30, 2021
Revenues	$	-		$	-
Net loss	$	(3,726,677	)	$	(10,922,678	)