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SUMMARY OF MATERIAL ACCOUNTING POLICIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes and other explanatory information [abstract] |
SCHEDULE OF USEFUL LIVES OF ITEMS OF PROPERTY AND EQUIPMENT | The useful lives of items of property and equipment have been assessed as follows: SCHEDULE OF USEFUL LIVES OF ITEMS OF PROPERTY AND EQUIPMENT
Category |  | Depreciation Method |  | Useful Life
Buildings |  | Straight line |  | 20 years
Plant and Machinery |  | Straight line |  | 5 years
Leasehold Properties |  | Straight line |  | As per below
Furniture and fixtures |  | Straight line |  | 5 years
Motor vehicles |  | Straight line |  | 5 years
Office equipment |  | Straight line |  | 5 years
IT equipment |  | Straight line |  | 3 – 5 years
Computer equipment |  | Straight line |  | 2 – 8 years
Spa equipment, curtains, crockery, glassware, and linen |  | Straight line |  | 5 years
SCHEDULE OF USEFUL LIFE OF INTANGIBLE ASSETS | The useful life of intangible assets has been assessed as follows: SCHEDULE OF USEFUL LIFE OF INTANGIBLE ASSETS
Category |  | Useful Life
Customer relationships |  | 5 years
Customer list |  | 5 years
Film Library |  | 8.5 years
Trade names, trademarks, domain names, and licenses |  | Indefinite
SCHEDULE OF RESTATEMENT FINANCIAL | SCHEDULE OF RESTATEMENT FINANCIAL
|  | Audited |  |  | Restatements |  |  | Restated |
|  | As of December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
Reserves |  | $ | (32,933,714) |  |  | $ | (841,387 | ) |  | $ | (33,775,101) |
Accumulated deficit |  |  | (68,539,210 | ) |  |  | 841,387 |  |  |  | (67,697,823 | )
Consolidated Statements of Operations and Comprehensive (Loss) / Income
|  | Audited |  |  | Restatements |  |  | Restated |
|  | For the year ended December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
(Loss) gains from foreign currency transactions |  | $ | 135,625 |  |  | $ | (754,892 | ) |  | $ | (619,267 | )
Total operating expenses |  |  | (50,222,196 | ) |  |  | (754,892 | ) |  |  | (50,977,088 | )
Loss from Operations |  |  | (41,582,907 | ) |  |  | (754,892 | ) |  |  | (42,337,799 | )
Loss Before Income tax |  |  | (56,315,143 | ) |  |  | (754,892 | ) |  |  | (57,070,035 | )
Net Loss |  |  | (55,251,547 | ) |  |  | (754,892 | ) |  |  | (56,006,439 | )
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | (1,045,076 | ) |  |  | 754,892 |  |  |  | (290,184 | )
Total comprehensive loss |  |  | (56,296,623 | ) |  |  | - |  |  |  | (56,296,623 | )
Consolidated Statements of Changes in Stockholders’ Equity
|  | Audited |  |  | Restatements |  |  | Restated |
|  | As of December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
Net loss |  | $ | (55,251,547 | ) |  | $ | (754,892 | ) |  | $ | (56,006,439 | )
Foreign currency translation adjustment |  |  | (1,045,076 | ) |  |  | 754,892 |  |  |  | (290,184 | )
Foreign currency |  | $ | 983,653 |  |  | $ | (841,387 | ) |  | $ | 142,266 |
Accumulated deficit |  |  | (68,539,210 | ) |  |  | 841,387 |  |  |  | (67,697,823 | )
Consolidated Statements of Cash Flows
|  | Audited |  |  | Restatements |  |  | Restated |
|  | For the year ended December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
Net loss |  | $ | (55,251,547 | ) |  | $ | (754,892 | ) |  | $ | (56,006,439 | )
(Gain) loss on foreign exchange transactions |  |  | (135,625 | ) |  |  | 754,892 |  |  |  | 619,267 |
For the year ended December 31, 2021 Consolidated Statements of Changes in Stockholders’ Equity
|  | Audited |  |  | Restatements |  |  | Restated |
|  | As of December 31, 2021 |
|  | Audited |  |  | Restatements |  |  | Restated |
Foreign currency |  | $ | 2,028,729 |  |  | $ | (1,596,279 | ) |  | $ | 432,450 |
Accumulated deficit |  |  | (13,493,684 | ) |  |  | 1,596,279 |  |  |  | (11,897,405 | )
SCHEDULE OF OTHER INVESTMENTS AND INVESTMENTS IN JOINT VENTURE | The impact of the restatements on the Consolidated Balance sheets as of December 31, 2022 is presented below. SCHEDULE OF OTHER INVESTMENTS AND INVESTMENTS IN JOINT VENTURE
|  | Audited |  |  | Restatements |  |  | Restated |
|  | As of December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
Other investments (previously termed as Investments at fair value) |  | $ | 29,071 |  |  | $ | (373 | ) |  | $ | 28,698 |
Investments in joint venture |  |  | - |  |  |  | 373 |  |  |  | 373 |
The impact of the restatement on the Consolidated Balance sheets as of December 31, 2022 is presented below. | The impact of the restatement on the Consolidated Balance sheets as of December 31, 2022 is presented below. SCHEDULE OF ACCURED EXPENSES
|  | Audited |  |  | Restatements |  |  | Restated |
|  | As of December 31, 2022 |
|  | Audited |  |  | Restatements |  |  | Restated |
Accrued expenses and other current liabilities |  | $ | 3,809,540 |  |  | $ | 571,543 |  |  | $ | 4,381,083 |
Contract liability (previously termed as Deferred revenue) |  |  | 6,391,993 |  |  |  | (571,543 | ) |  |  | 5,820,450 |

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