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IntraNav Acquisition (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

IntraNav Acquisition [Abstract]

Schedule of Purchase Price Allocations Relating to the Acquisition

The Acquisition is being accounted for as a business combination in accordance with ASC 805. The Company has determined the fair values of the assets acquired and liabilities assumed in the Acquisition. The Company has made the allocation of the purchase price of the Acquisition to the assets acquired and the liabilities assumed as of the purchase date. The following table summarizes the purchase price allocations relating to the Acquisition:

Cash Considerations (EUR)		€	1,000,000
Less: IntraNav’s indebtedness in excess of EUR 150,000			—
Total Purchase Price (EUR)		€	1,000,000
Total Purchase Price (USD) – at 1.13249 USD per EUR		$	1,132,490

Schedule of Assets Acquired

The following table summarizes certain assets and liabilities of discontinued operations:

		As of December 31, 2022
Current Assets of Discontinued Operations
Cash and cash equivalents		$	10,000
Accounts receivable			1,338
Prepaid expenses and other current assets			923
Current Assets of Discontinued Operations		$	12,261

Long Term Assets of Discontinued Operations
Property and equipment, net		$	202
Operating Lease Right-of-Use Asset, net			681
Software development costs, net			487
Intangible assets, net			19,289
Other Assets			52
Long Term Assets of Discontinued Operations		$	20,711
Current Liabilities of Discontinued Operations
Accounts payable		$	1,054
Accrued liabilities			1,736
Operating lease obligation, current			266
Deferred revenue			2,162
Current Liabilities of Discontinued Operations		$	5,218

Long Term Liabilities of Discontinued Operations
Operating lease obligation, noncurrent		$	444
Other Liabilities, noncurrent			28
Long Term Liabilities of Discontinued Operations		$	472

		Fair Value Allocation
Assets acquired:
Cash and cash equivalents		$	109
Accounts receivable			110
Prepaid expenses and other current assets			135
Inventory			844
Right of use asset			312
Property, plant, and equipment			30
Other assets			113
Tradename & trademarks			168
Proprietary technology			507
Customer relationships			197
Goodwill			482
Total assets acquired		$	3,007

Liabilities assumed:
Accounts payable			2
Accrued liabilities			413
Lease liabilities – current			54
Lease liabilities – noncurrent			231
Payable to new parent			391
Deferred revenue			784
Total liabilities assumed			1,875
Estimated fair value of net assets acquired:		$	1,132

Schedule of Acquisition Related Costs Acquisition

Total acquisition-related costs for the Acquisition incurred during the year ended December 31, 2021, was $209,036, and is included in selling, general and administrative expense in the Company’s consolidated statements of operations. The following table details the acquisition related costs for the Acquisition:

Accounting fees		$	10
Legal fees			199
Total acquisition costs		$	209