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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of income tax before income tax domestic and foreign |
|  | December 31, 2023 |  |  | December 31, 2022 |
Domestic |  | $ | (2,832,980 | ) |  | $ | (7,093,161 | )
Foreign |  |  | (15,709,674 | ) |  |  | (5,962,159 | )
|  | $ | (18,542,654 | ) |  | $ | (13,055,320 | )
Schedule of provision for income tax |
|  | December 31, 2023 |  |  | December 31, 2022 |
Current tax provision |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | (75,724 | )
Total current tax provision |  | $ | - |  |  | $ | (75,724 | )
Deferred tax provision |  |  |  |  |  |  |  |
Domestic |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | 850,775 |
Total deferred tax provision |  | $ | - |  |  | $ | 850,775 |
Total current provision |  | $ | - |  |  | $ | 775,051 |
Schedule of reconciliation of income tax |
|  | December 31, 2023 |  |  | December 31, 2022 |
US |  |  |  |  |  |
Loss before income taxes |  | $ | (18,542,654 | ) |  | $ | (13,055,320 | )
Taxes under statutory US tax rates |  | $ | (3,893,957 | ) |  | $ | (2,741,617 | )
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |
Increase in valuation allowance |  | $ | 4,339,572 |  |  | $ | 3,989,786 |
Foreign tax rate differential |  | $ | 245,518 |  |  | $ | 34,601 |
Permanent differences |  | $ | (448,032 | ) |  | $ | 128,705 |
Prior period adjustments |  | $ | (151,879 | ) |  | $ | (186,143 | )
State taxes |  | $ | (91,222 | ) |  | $ | (450,280 | )
Income tax expense |  | $ | - |  |  | $ | 775,052 |
Schedule of significant components of deferred tax assets and liabilities |
|  | December 31, 2023 |  |  | December 31, 2022 |
Net operating loss carryforward |  | $ | 7,621,277 |  |  | $ | 5,899,702 |
Capital loss carryforward |  |  | 801,744 |  |  |  | 801,744 |
Section 163(j) carryforward |  |  | 563,138 |  |  |  | 561,130 |
Foreign exchange |  |  | 129,916 |  |  |  | 297,263 |
Allowance for doubtful accounts |  |  | 4,404,277 |  |  |  | 1,616,926 |
Accrued expenses |  |  | 261,466 |  |  |  | 352,025 |
Mark to market adjustment in securities |  |  | 358,761 |  |  |  | 358,761 |
Lease liability |  |  | 261,377 |  |  |  | 259,381 |
Capitalized research & development costs |  |  | 52,261 |  |  |  | - |
Depreciation |  |  | (35,734 | ) |  |  | (22,914 | )
Total deferred tax assets |  |  | 14,418,483 |  |  |  | 10,124,018 |
Intangibles |  |  | (15,845 | ) |  |  | (8,139 | )
Inventory |  |  | 4,853 |  |  |  | (49,961 | )
Right of use asset |  |  | (258,770 | ) |  |  | (256,769 | )
Goodwill |  |  | (10,980 | ) |  |  | (10,979 | )
Total deferred tax liabilities |  |  | (280,742 | ) |  |  | (325,848 | )
Valuation allowance |  |  | (14,137,741 | ) |  |  | (9,798,170 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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