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Segments (Tables)

6 Months Ended

Jun. 30, 2024

Segments [Abstract]

Schedule of Revenues, Net

The following tables set forth the Company’s revenues, net and direct contribution for the three and six months ended June 30, 2024 and 2023:

		For the three months ended June 30,								For the six months ended June 30,
		2024				2023				2024				2023
Revenues, net:
Marketplace
Advertising and e-commerce sales		$	726,638			$	529,707			$	1,672,109			$	907,741
Brands
Product sales			2,478,455				-				4,828,965				-
Other sales			18,738				-				18,738				-
Returns and discounts			(206,619	)			-				(413,720	)			-
Total Brand revenues, net			2,290,574				-				4,433,983				-
Financial Technology
Direct revenue			967,260				-				1,121,867				-
Interest income on loans			961,518				-				1,100,916				-
Loan and lease contracts sold, net			1,039,238				-				1,122,242				-
Total Financial Technology revenues, net			2,968,016				-				3,345,025				-
Total revenues, net		$	5,985,228			$	529,707			$	9,451,117			$	907,741

Schedule of Segment 's Adjusted EBITDA

		For the three months ended June 30, 2024
		Marketplace				Brands				Financial Technology				Total
Revenues, net		$	726,638			$	2,290,574			$	2,968,016			$	5,985,228
Segment cost of revenues			(517,304	)			-				(13,794	)			(531,098	)
Segment cost of goods sold			-				(1,438,843	)			-				(1,438,843	)
Segment gross profit			209,334				851,731				2,954,222				4,015,287
Segment operating costs			(7,274,357	)			(1,507,427	)			(3,160,466	)			(11,942,250	)
Adjusted EBITDA			(7,065,023	)			(655,696	)			(206,244	)			(7,926,963	)
Transaction costs incurred in connection with acquisitions															(1,908	)
Share-based compensation (exclusive of what is included in transaction costs above)															(5,171,760	)
Depreciation and amortization															(930,874	)
Other income, net															52,599
Change in fair value of convertible notes															-
Change in fair value of earnout liabilities															220,000
Change in fair value of warrant liabilities															3,091,000
Interest expense, net															(553,303	)
Income tax expense															(14,037	)
Net loss														$	(11,235,246	)

		For the three months ended June 30, 2023
		Marketplace				Brands				Financial Technology				Total
Revenues, net		$	529,707			$	-			$	-			$	529,707
Segment cost of revenues			(432,934	)			-				-				(432,934	)
Segment cost of goods sold			-				-				-				-
Segment gross profit			96,773				-				-				96,773
Segment operating costs			(6,586,734	)			-				-				(6,586,734	)
Adjusted EBITDA			(6,489,961	)			-				-				(6,489,961	)
Transaction costs incurred in connection with acquisitions															-
Share-based compensation (exclusive of what is included in transaction costs above)															-
Depreciation and amortization															(699,237	)
Other income, net															48,549
Change in fair value of convertible notes															(13,423,204	)
Change in fair value of earnout liabilities															-
Change in fair value of warrant liabilities															-
Interest expense, net															(155,854	)
Income tax expense															(1,600	)
Net loss														$	(20,721,307	)

		For the six months ended June 30, 2024
		Marketplace				Brands				Financial Technology				Total
Revenues, net		$	1,672,109			$	4,433,983			$	3,345,025			$	9,451,117
Segment cost of revenues			(1,052,623	)			-				(76,836	)			(1,129,459	)
Segment cost of goods sold			-				(2,830,251	)			-				(2,830,251	)
Segment gross profit			619,486				1,603,732				3,268,189				5,491,407
Segment operating costs			(14,539,615	)			(2,622,041	)			(3,575,460	)			(20,737,116	)
Adjusted EBITDA			(13,920,129	)			(1,018,309	)			(307,271	)			(15,245,709	)
Transaction costs incurred in connection with acquisitions															(2,295,502	)
Share-based compensation (exclusive of what is included in transaction costs above)															(10,170,774	)
Depreciation and amortization															(1,227,471	)
Other income, net															155,978
Change in fair value of convertible notes															-
Change in fair value of earnout liabilities															340,000
Change in fair value of warrant liabilities															5,322,500
Interest expense, net															(677,481	)
Income tax expense															(13,618	)
Net loss														$	(23,812,077	)

		For the six months ended June 30, 2023
		Marketplace				Brands				Financial Technology				Total
Revenues, net		$	907,741			$	-			$	-			$	907,741
Segment cost of revenues			(795,907	)			-				-				(795,907	)
Segment cost of goods sold			-				-				-				-
Segment gross profit			111,834				-				-				111,834
Segment operating costs			(11,593,141	)			-				-				(11,593,141	)
Adjusted EBITDA			(11,481,307	)			-				-				(11,481,307	)
Transaction costs incurred in connection with acquisitions															-
Share-based compensation (exclusive of what is included in transaction costs above)															-
Depreciation and amortization															(1,244,574	)
Other income, net															53,687
Change in fair value of convertible notes															(14,571,109	)
Change in fair value of earnout liabilities															-
Change in fair value of warrant liabilities															-
Interest expense, net															(163,855	)
Income tax expense															(1,789	)
Net loss														$	(27,408,947	)

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- Definition

Tabular disclosure of the entity's accounting policy for the recognition of revenue under the milestone method. Includes: (1) a description of the overall arrangement; (2) a description of each milestone and related contingent consideration; (3) a determination of whether each milestone is considered substantive; (4) the factors that the entity considered in determining whether the milestone or milestones are substantive; and (5) the amount of consideration recognized during the period for the milestone or milestones.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

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-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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