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Investment In Unconsolidated Entities (Tables)
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investment in Unconsolidated Entities

 

 

June 30, 2024

 

 

December 31, 2023

 

CIC Limited

 

$

4,776,824

 

 

$

4,514,618

 

Ocean Minerals, LLC

 

 

4,756,709

 

 

 

4,487,028

 

Chatham Rock Phosphate, Limited

 

 

—

 

 

 

—

 

Neptune Minerals, Inc.

 

 

—

 

 

 

—

 

Investment in unconsolidated entities

 

$

9,533,533

 

 

$

9,001,646

 
Schedule of Initial Closing Consideration

The Company determined that the initial Closing Consideration is as follows:

Cash Consideration

 

 

 

$

1,000,000

 

Fair value of Odyssey Retriever, Inc.

 

 

 

 

3,280,261

 

Fair value of the Second Closing

 

 

 

 

676,921

 

Fair value of the Third Closing

 

 

 

 

769,875

 

Fair value of the Equity Exchange Agreement

 

 

 

 

4,516,007

 

Transaction costs

 

 

 

 

49,988

 

Initial closing consideration

 

 

 

$

10,293,052