XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

INVESTMENTS | 3 Months Ended
--- | ---
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS | 6. INVESTMENTS The Company’s investments at March 31, 2025 and December 31, 2024 consisted of the following: SCHEDULE OF COMPANY’S INVESTMENTS
|  | March 31, 2025 |  |  | December 31, 2024 |
Investments, at cost: |  |  |  |  |  |  |  |
Lygos Inc., simple agreement for future equity (“SAFE”) agreement |  | $ | 1,000,000 |  |  | $ | 1,000,000 |
Trio Opportunity Corp., 97,000 non-voting Class B shares |  |  | 970,000 |  |  |  | 970,000 |
Investments, at cost: |  |  | 970,000 |  |  |  | 970,000 |
Investment, equity method: |  |  |  |  |  |  |  |
Florida-based LLC |  |  | 1,518,306 |  |  |  | 1,454,381 |
Total |  | $ | 3,488,306 |  |  | $ | 3,424,381 |
In January 2019, the Company invested in a Florida based LLC that is engaged in international sales of fertilizer additives. According to the operating agreement, the Company had a 50% interest in the profit and loss of the Florida based LLC but does not have control. In August 2024, the Company sold a 30.1% interest in the Florida based LLC to a third party for consideration of $2,000,000. In addition, the Company entered a subsequent agreement for the sale of its remaining 19.9% interest over the next five years for an additional $4,000,000. Starting in 2025, the Company will sell a further 3.98% per year upon receipt of that years $800,000 payment. At March 31, 2025, the Company continues to account for this investment using the equity investment as it exercises significant influence. A summary of the activity associated with the Company’s investment in the Florida based LLC during the three months ended March 31, 2025 and the year ended December 31, 2024 is follows: SCHEDULE OF EQUITY METHOD INVESTMENT
Balance, December 31, 2023 – 50% interest |  |  | 4,063,960 |
Balance, December 31, 2023 – 50% interest |  |  | 4,063,960 |
Company’s proportionate share of earnings |  |  | 244,857 |
Distribution received |  |  | (510,710 | )
Basis of 30.1% of interest sold |  |  | (2,343,726 | )
Sale of 30.1% of Florida based LLC |  |  |  |
Balance, December 31, 2024 – 19.9% interest |  | $ | 1,454,381 |
Company’s proportionate share of earnings |  |  | 63,925 |
Balance, March 31, 2025 – 19.9% interest |  | $ | 1,518,306 |
Summarized profit and loss information related to the Florida based LLC is as follows: SUMMARY OF PROFIT AND LOSS INFORMATION RELATED TO EQUITY ACCOUNTED INVESTMENT
|  | Three months ended March 31, 2025 |  |  | Three months ended March 31, 2024 |
Net sales |  | $ | 3,443,030 |  |  | $ | 3,319,582 |
Gross profit |  | $ | 1,094,892 |  |  | $ | 1,014,988 |
Net income |  | $ | 321,229 |  |  | $ | 364,403 |
During the three months ended March 31, 2025, the Company had sales of $1,856,395 (2024 - $2,299,938) to the Florida based LLC, of which $1,508,783 is included within Accounts Receivable as at March 31, 2025 (December 31, 2024 - $1,866,645).

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration