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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2023
Acquisitions [Abstract]  
Schedule of Acquisition Date Fair Value of Consideration Transferred The acquisition date fair value of consideration transferred was calculated as follows:
Net cash transferred  $83,888,239 
Fair value of common stock transferred   12,091,142 
Fair value of consideration transferred  $95,979,381 
Schedule of Estimated Fair Value of Assets Acquired and Liabilities The following table summarizes the estimated fair value of assets acquired and liabilities assumed at the acquisition date:
Assets Acquired    
Cash  $940,974 
Accounts receivable   6,028,048 
Taxes receivable   1,035,754 
Prepaid expenses and other   912,719 
Property and equipment   33,476 
Customer relationships intangible   34,000,000 
Trademark and patent intangible   5,700,000 
Technology intangibles   8,300,000 
Operating lease right-of-use assets   145,075 
Deposits   9,727 
    57,105,773 
Liabilities Assumed     
Accounts payable   1,997,348 
Accrued expenses   3,848,403 
Lease liabilities   166,098 
Deferred revenue   75,003 
Deferred tax liabilities   12,032,798 
    18,119,650 
Net assets acquired   38,986,123 
Goodwill   56,993,258 
      
Fair value of consideration transferred  $95,979,381 

 

Schedule of Identifiable Intangibles are Being Amortized on a Straight Line Basis The identifiable intangibles are being amortized on a straight line basis over the following estimated useful lives:
Customer relationship intangible  15 years
Trademark and patent intangible  10 years
Technology intangibles  4 to 10 years
Schedule of Pro-Forma Consolidated Statement of Operations as if Medicx Health The amounts of revenue and net income of Medicx Health included in the Company’s consolidated statement of operations for the period from the acquisition date until December 31, 2023, are as follows:
Revenue  $4,546,497 
Net income   314,082 
Schedule of Pro-Forma Consolidated Statement of Operations The following represents the pro-forma consolidated statement of operations as if Medicx Health had been included in the consolidated results of the Company for the full years ended December 31, 2023, and 2022:
   Year ended
December 31, 2022
 
Pro-forma consolidated statement of operations  2023   2022 
Revenue  $97,066,241   $90,521,236 
Net loss   (18,616,303)   (16,157,521)