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ORGANIZATION AND NATURE OF BUSINESS (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023
ORGANIZATION AND NATURE OF BUSINESS |  |
Schedule of allocation of purchase price of acquisition |
Consideration |  |  |
Cash |  | $ | 5,331,120 |
Fair value of common stock issued |  |  | 138,667 |
Fair value of total consideration transferred |  | $ | 5,469,787 |
Recognized amounts of identifiable assets acquired |  |  |  |
Financial assets |  | $ | 1,796,911 |
Inventory |  |  | 297,340 |
Property, plant and equipment |  |  | 7,488,818 |
Identifiable intangible assets |  |  | 562,200 |
Financial liabilities |  |  | (3,235,233 | )
Total identifiable net assets |  | $ | 6,910,036 |
Bargain purchase gain |  | $ | 1,440,249 |
Revenue for the 9 - month period ended September 30, 2024 |  | $ | 549,567 |
Loss for the 9 - month period ended September 30, 2024 |  | $ | (1,674,785 | )
Consideration |  |  |
Cash |  | $ | 5,331,120 |
Fair value of common stock issued |  |  | 138,667 |
Fair value of total consideration transferred |  | $ | 5,469,787 |
Recognized amounts of identifiable assets acquired |  |  |  |
Financial assets |  | $ | 1,796,911 |
Inventory |  |  | 297,340 |
Property, plant and equipment |  |  | 7,488,818 |
Identifiable intangible assets |  |  | 562,200 |
Financial liabilities |  |  | (3,235,233 | )
Total identifiable net assets |  | $ | 6,910,036 |
Bargain purchase gain |  | $ | 1,440,249 |
Revenue for the 6- month period ended December 31, 2023 |  | $ | 344,708 |
Loss for the 6- month period ended December 31, 2023 |  | $ | (1,232,732 | )
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 Basic and Diluted Net Loss per Common Share |
|  | September 30, 2024 |  |  | September 30, 2023 |
Weighted average number of common shares outstanding Basic |  |  | 17,724,305 |  |  |  | 11,346,071 |
Potentially dilutive common stock equivalents |  |  | - |  |  |  | - |
Weighted average number of common and equivalent shares outstanding – Diluted |  |  | 17,724,305 |  |  |  | 11,346,071 |
Schedule of potential shares of common stock |
|  | September 30, 2024 |  |  | September 30, 2023 |
Warrants |  |  | 13,432,507 |  |  |  | 6,124,412 |
Total |  |  | 13,432,507 |  |  |  | 6,124,412 |

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