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INCOME TAXES (Tables)

12 Months Ended

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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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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