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APPLIED ASSET PURCHASE (Tables) - Applied Asset Purchase [Member] | 3 Months Ended
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Mar. 31, 2024
Restructuring Cost and Reserve [Line Items] |
SCHEDULE OF ASSET PURCHASE CONSIDERATIONS | The total purchase consideration for the Applied Asset Purchase as determined by the Company was as follows: SCHEDULE OF ASSET PURCHASE CONSIDERATIONS
Consideration |  | Equity Shares |  |  | Dollar Value |
Cash Closing Consideration |  |  |  |  |  | $ | 9,750,000 |
Fair value of Stock Closing Consideration |  |  | 73,809 |  |  |  | 3,089,645 |
Fair value of Installment Payments |  |  |  |  |  |  | 2,040,808 |
Cash paid for inventory |  |  |  |  |  |  | 30,007 |
Fair value of Petito Services Agreement defined payments |  |  |  |  |  |  | 825,834 |
Fair value of Petito Services Agreement contingent consideration |  |  |  |  |  |  | 893,000 |
Direct transaction costs |  |  |  |  |  |  | 162,743 |
Total purchase consideration |  |  |  |  |  | $ | 16,792,037 |
SCHEDULE OF PURCHASE CONSIDERATION ON FAIR VALUE OF ASSETS ACQUIRED | SCHEDULE OF PURCHASE CONSIDERATION ON FAIR VALUE OF ASSETS ACQUIRED
Description |  | Amount |
Inventory |  | $ | 30,007 |
Equipment |  |  | 33,062 |
Intellectual property |  |  | 16,728,968 |
Net assets acquired |  | $ | 16,792,037 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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