XML 148 R30.htm IDEA: XBRL DOCUMENT v3.24.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule of exchange rate  

 

 

December 31,

2023

 

 

December 31,

2022

 

Exchange rate on balance sheet dates

 

 

 

 

 

 

EUR: USD exchange rate

 

 

1.1062

 

 

 

1.0698

 

GBP: USD exchange rate

 

 

1.2743

 

 

 

1.2077

 

 

 

 

 

 

 

 

 

 

Average exchange rate for the period

 

 

 

 

 

 

 

 

EUR: USD exchange rate

 

 

1.0817

 

 

 

1.0534

 

GBP: USD exchange rate

 

 

1.2440

 

 

 

1.2371

 

Schedule of Accounts Receivable & Allowance for Doubtful Accounts

 

 

September 30,

2024

 

 

 

 

 

Balance as of January 1st, 2024

 

$19,686,091

 

Provisions for credit losses

 

 

-

 

Write-offs

 

 

250,971

 

Foreign exchange adjustments

 

 

 

 

Other adjustments

 

 

(31,286 )

Balance as of September 30, 2024

 

$19,905,776

 

 

 

December 31,

2023

 

 

 

 

 

Balance as of January 1, 2023

 

$7,309,311

 

Provisions for credit losses

 

 

11,850,788

 

Write-offs

 

 

-

 

Foreign exchange adjustments

 

 

525,992

 

Other adjustments

 

 

-

 

Balance as of December 31, 2023

 

$19,686,091

 

Schedule of Property and Equipment, net

 

Estimated

Useful Life

Leasehold improvements and technical works

 

Lesser of lease term or 25 years

Buildings

 

 

25-30 years

 

Vehicles

 

6 years

Machinery

 

20 years

Furniture, fixtures and equipment

 

5–10 years

 

Computers and software

 

3-5 years

 

Estimated

Useful Life

Leasehold improvements and technical works

 

Lesser of lease term or 25 years

Buildings

 

 

25-30 years

 

Vehicles

 

6 years

Machinery

 

20 years

Furniture, fixtures and equipment

 

5–10 years

 

Computers and software

 

3-5 years

Schedule of Assets Measured and Recognized at Fair Value on a Recurring Basis  

 

 

December 31, 2023

 

 

Total Carrying

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Value

 

Marketable securities – ICC International Cannabis Corp.

 

$-

 

 

 

-

 

 

 

-

 

 

$-

 

Marketable securities – National Bank of Greece

 

 

11,596

 

 

 

-

 

 

 

-

 

 

 

11,596

 

 

 

$11,596

 

 

 

 

 

 

 

 

 

 

$11,596

 

 

 

December 31, 2022

 

 

Total Carrying

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Value

 

Marketable securities – ICC International Cannabis Corp.

 

$-

 

 

 

-

 

 

 

-

 

 

$-

 

Marketable securities – National Bank of Greece

 

 

6,681

 

 

 

-

 

 

 

-

 

 

 

6,681

 

 

 

$6,681

 

 

 

 

 

 

 

 

 

 

$6,681

 

Schedule of Basic and Diluted Net Loss per Common Share  

 

 

Years Ended December 31,

 

 

 

2023

 

 

2022

 

Weighted average number of common shares outstanding Basic

 

 

11,968,665

 

 

 

1,928,172

 

Potentially dilutive common stock equivalents

 

 

 

 

 

 

-

 

Weighted average number of common and equivalent shares outstanding – Diluted

 

 

11,968,665

 

 

 

1,928,172

 

Schedule of potential shares of common stock  

 

 

2023

 

 

2022

 

Common Stock Warrants

 

 

8,561,476

 

 

 

4,194,236

 

Common Stock Options

 

 

-

 

 

 

-

 

Convertible Debt

 

 

-

 

 

 

8,827

 

Total

 

 

8,561,476

 

 

 

4,203,063