v3.25.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2024
Envoy Technologies, Inc. [Member]  
Business Acquisition [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

   Purchase Price Allocation  
Purchase Consideration:     
Cash  $6,000 
Deferred cash consideration   6,782 
Common stock   18,118 
      
Total Purchase Consideration  $30,900 
      
Less:     
Trade name  $166 
Customer relationships   1,925 
Internally developed technology   175 
Non-compete agreements   11 
Property and equipment   1,802 
Other assets   52 
Notes payable- non current portion   (24)
Lease liability- non current portion   (1,730)
Debt-free net working capital deficit   (1,595)
      
Fair Value of Identified Net Assets  $782 
      
Remaining Unidentified Goodwill Value  $30,118 

 

The components of debt free net working capital deficit are as follows:

 

    Purchase Price Allocation  
Current assets:      
Cash   $19 
Accounts receivable    391 
Prepaid expenses and other current assets    254 
       
Total current assets   $664 
       
Less current liabilities:      
Accounts payable   $853 
Current portion of lease liability    591 
Current portion of notes payable    7 
Deferred revenue    229 
Accrued expenses and other current liabilities    579 
       
Total current liabilities   $2,259 
       
Net working capital deficit   $(1,595)
 
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

   2023   2022 
   For the Years Ended
December 31,
 
   2023   2022 
   (Unaudited)   (Unaudited) 
Revenues  $140,765   $64,509 
Net loss  $(204,949)  $(96,358)

Sema Connect, Inc [Member]  
Business Acquisition [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date of SemaConnect:

 

     
   Purchase Price Allocation 
Purchase Consideration:     
Cash  $46,136 
Deferred cash consideration   40,600 
Common stock   113,837 
      
Total Purchase Consideration  $200,573 
      
Less:     
Trade name  $1,831 
Customer relationships   15,055 
Internally developed technology   3,607 
Non-compete agreements   241 
Property and equipment   614 
Right of use asset   1,092 
Other assets   449 
Deferred revenue- non current portion   (702)
Lease liability- non current portion   (611)
Debt-free net working capital   4,558 
      
Fair Value of Identified Net Assets  $26,134 
      
Remaining Unidentified Goodwill Value  $174,439 

 

The components of debt free net working capital are as follows:

 

Current assets:     
Cash  $3,753 
Restricted cash   8,103 
Accounts receivable   5,515 
Inventory   5,472 
Prepaid expenses and other current assets   1,309 
      
Total current assets  $24,152 
      
Less current liabilities:     
Accounts payable  $2,305 
Merger consideration payable   8,103 
Current portion of lease liability   481 
Current portion of notes payable   186 
Deferred revenue   2,677 
Accrued expenses and other current liabilities   5,842 
      
Total current liabilities  $19,594 
      
Debt free net working capital  $4,558 

 
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

   2022 
   For the Year Ended
   December 31, 2022 
   (Unaudited) 
Revenues  $                       70,078 
Net loss  $(102,444)

Blue Corner NV [Member]  
Business Acquisition [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date of EB:

 

      
Purchase Consideration:     
Cash  $12,651 
Common stock   2,852 
Contingent consideration   3,814 
      
Total Purchase Consideration  $19,317 
      
Less:     
Trade name  $500 
Customer relationships   4,856 
Internally developed technology   515 
Non-compete agreements   1,992 
Property and equipment   4,325 
Deferred revenue- non current portion   (2,689)
Debt-free net working capital deficit   (625)
      
Fair Value of Identified Net Assets  $8,874 
      
Remaining Unidentified Goodwill Value  $10,443 

 

The components of debt free net working capital are as follows:

 

Current assets:     
Cash  $1,291 
Accounts receivable   1,618 
Prepaid expenses and other current assets   508 
      
Total current assets  $3,417 
      
Less current liabilities:     
Accounts payable  $647 
Current portion of lease liabilities   22 
Current portion of notes payable   611 
Accrued expenses and other current liabilities   2,762 
      
Total current liabilities  $4,042 
      
Debt free net working capital deficit  $(625)

 
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

   2022 
   For the Year Ended
   December 31, 2022 
   (Unaudited) 
Revenues  $                       62,002 
Net loss  $(92,705)