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v3.23.1

PRECISION HEALING MERGER (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Restructuring Cost and Reserve [Line Items] |
SCHEDULE OF PURCHASE CONSIDERATION ON FAIR VALUE OF ASSETS ACQUIRED | SCHEDULE OF CHANGES IN FAIR VALUE FOR CONTINGENT EARNOUT CONSIDERATION
Balance December 31, 2022 |  | $ | 7,166,691 |
Additions |  |  | - |
Changes in fair value of earnout liabilities |  |  | (452,687 | )
Settlements |  |  | - |
Balance March 31, 2023 |  | $ | 6,714,004
Precision Healing Inc [Member] |
Restructuring Cost and Reserve [Line Items] |
SCHEDULE OF PURCHASE CONSIDERATIONS | The total purchase consideration as determined by the Company was as follows: SCHEDULE OF PURCHASE CONSIDERATIONS
Consideration |  | Equity Shares |  |  | Dollar Value |
Fair value of Sanara common shares issued |  |  | 165,738 |  |  | $ | 5,096,444 |
Fair value of assumed options |  |  | 144,191 |  |  |  | 4,109,750 |
Fair value of assumed warrants |  |  | 16,725 |  |  |  | 502,895 |
Cash paid to nonaccredited investors |  |  |  |  |  |  | 125,370 |
Cash paid for fractional shares |  |  |  |  |  |  | 596 |
Carrying value of equity method investment in Precision Healing |  |  |  |  |  |  | 1,803,440 |
Fair value of contingent earnout consideration |  |  |  |  |  |  | 3,882,151 |
Direct transaction costs |  |  |  |  |  |  | 1,061,137 |
Total purchase consideration |  |  |  |  |  | $ | 16,581,783 |
SCHEDULE OF PURCHASE CONSIDERATION ON FAIR VALUE OF ASSETS ACQUIRED | SCHEDULE OF PURCHASE CONSIDERATION ON FAIR VALUE OF ASSETS ACQUIRED
Description |  | Amount |
Cash |  | $ | 32,202 |
Net working capital (excluding cash) |  |  | (308,049 | )
Fixed assets, net |  |  | 9,228 |
Noncontrolling interest in Sanara Biologics, LLC |  |  |  |
Customer relationships |  |  |  |
Deferred tax assets |  |  | 278,661 |
Intellectual property |  |  | 20,325,469 |
Assembled workforce |  |  | 664,839 |
Deferred tax liabilities |  |  | (4,420,567 | )
Goodwill |  |  |  |
Net assets acquired |  | $ | 16,581,783 |

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