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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule of financial assets and liabilities measured at fair value on recurring basis

Fair Value Measurements

as of June 30, 2023 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Contingent consideration

$

$

$

$

$

$

$

$

Fair Value Measurements

as of December 31, 2022 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Contingent consideration

$

$

$

12,098,475

$

12,098,475

$

$

$

12,098,475

$

12,098,475

Fair Value Measurements

as of December 31, 2022 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

$

$

Contingent consideration

 

 

 

12,098,475

 

12,098,475

Derivative liability

$

$

$

12,098,475

$

12,098,475

Fair Value Measurements

as of December 31, 2021 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

18,223

$

$

18,223

Contingent consideration

12,179,476

12,179,476

Derivative liability

2,294,720

2,294,720

$

$

18,223

$

14,474,196

$

14,492,419

Summary of contingent consideration

June 30,

December 31,

    

2023

    

2022

Bailey

    

$

$

10,698,475

Harper & Jones

 

 

1,400,000

$

$

12,098,475

    

December 31,

    

2022

    

2021

Bailey

$

10,698,475

 

7,935,016

Harper & Jones

 

1,400,000

 

4,244,460

$

12,098,475

$

12,179,476

Schedule of inventory

June 30,

    

December 31,

2023

2022

Raw materials

    

$

1,508,416

    

$

1,611,134

Work in process

 

653,412

 

888,643

Finished goods

 

2,609,443

 

2,725,505

Inventory

$

4,771,271

$

5,225,282

December 31, 

    

2022

    

2021

Raw materials

    

$

1,508,416

    

$

292,167

Work in process

 

888,643

 

242,673

Finished goods

 

2,725,505

 

2,220,519

Inventory

$

5,122,564

$

2,660,203

Schedule of the computation of basic and diluted net income (loss) per share

Three Months Ended

Six Months Ended

June 30,

June 30,

2023

2022

2023

2022

Numerator:

    

  

    

  

    

  

    

  

Net income (loss) from continuing operations

$

6,536,310

$

(9,482,520)

$

470,415

$

(17,200,792)

Income (loss) from discontinued operations, net of tax

 

(1,492,050)

 

(51,404)

 

(1,562,503)

 

(166,074)

Net income (loss)

$

5,044,260

$

(9,533,924)

$

(1,092,088)

$

(17,366,866)

Denominator:

 

  

 

  

 

  

 

  

Weighted average common shares outstanding - basic

 

246,809

 

14,329

 

236,824

 

9,836

Weighted average common shares outstanding - diluted

 

834,604

 

14,329

 

824,619

 

9,836

Net income (loss) from continuing operations per share - basic

$

26.48

$

(661.78)

$

1.99

$

(1,748.68)

Net income (loss) from continuing operations per share - diluted

$

7.83

$

(661.78)

$

0.57

$

(1,748.68)

Net income (loss) from discontinued operations per common share – basic

$

(6.05)

$

(3.59)

$

(6.60)

$

(16.88)

Net income (loss) from discontinued operations per common share – diluted

$

(6.05)

$

(3.59)

$

(6.60)

$

(16.88)

Net income (loss) per share basic

$

20.44

$

(665.36)

$

(4.61)

$

(1,765.57)

Net income (loss) per share diluted

$

6.04

$

(665.36)

$

(4.61)

$

(1,765.57)

 
Schedule of potentially dilutive items outstanding

    

June 30, 

2023

    

2022

 

 

18,496

Convertible notes

27,097

Series A convertible preferred stock

321,395

Series C convertible preferred stock

 

237,746

2,533

Common stock warrants

 

1,558

1,558

Stock options

 

587,795

22,588

    

December 31, 

2022

    

2021

Convertible notes

37,915

1,916

Series A convertible preferred stock

 

4,320

 

Common stock warrants

 

176,733

 

1,432

Stock options

 

1,558

 

1,558

Total potentially dilutive shares

 

220,526

 

4,907

Schedule of business acquisition pro forma information  

    

Year Ended

December 31, 

2022

2021

Net revenues

$

28,519,261

$

34,635,426

Net loss

$

(42,001,415)

$

(33,171,473)

Net loss per common share

$

(1,361.50)

$

(10,870.25)

Schedule of estimated useful lives of amortizable intangible assets  

Customer relationships

    

3 years

Schedule of changes in common stock warrant liability  

    

Warrant

Liability

Outstanding as of December 31, 2020

$

6,265

Change in fair value

 

11,958

Outstanding as of December 31, 2021

18,223

Change in fair value

(18,223)

Outstanding as of December 31, 2022

$

Summary of goodwill and intangible impairment  

Year Ended

December 31,

    

2022

    

2021

Bailey brand name (intangibles)

    

$

2,182,000

    

$

3,400,000

Bailey goodwill

 

3,321,095

 

Total impairment

$

5,503,095

$

3,400,000