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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of exchange rate

 

 

December 31,

2024

 

 

December 31,

2023

 

Exchange rate on balance sheet dates

 

 

 

 

 

 

EUR: USD exchange rate

 

 

1.0351

 

 

 

1.1062

 

GBP: USD exchange rate

 

 

1.2521

 

 

 

1.2743

 

 

 

 

 

 

 

 

 

 

Average exchange rate for the period

 

 

 

 

 

 

 

 

EUR: USD exchange rate

 

 

1.0820

 

 

 

1.0817

 

GBP: USD exchange rate

 

 

1.2781

 

 

 

1.2440

 

Schedule of Accounts Receivable & Allowance for Doubtful Accounts

 

 

December 31,

2024

 

 

 

 

 

Balance as of January 1, 2024

 

$19,686,091

 

Provisions for credit losses

 

 

58,913

 

Provisions for doubtful accounts

 

 

4,579,641

 

Foreign exchange adjustments

 

 

(1,525,426 )

Balance as of December 31, 2024

 

$22,799,219

 

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

 

3 years

Schedule of Fair Value, Liabilities Measured on Recurring Basis

 

 

December 31, 2024

 

 

Total Carrying

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Value

 

Marketable securities – ICC International Cannabis Corp.

 

$-

 

 

 

-

 

 

 

-

 

 

$-

 

Marketable securities – National Bank of Greece

 

 

12,766

 

 

 

-

 

 

 

-

 

 

 

12,766

 

 

 

$12,766

 

 

 

 

 

 

 

 

 

 

$12,766

 

 

 

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

 

Schedule of potential shares of common stock

 

 

2024

 

 

2023

 

Common Stock Warrants

 

 

12,926,507

 

 

 

8,561,476

 

Common Stock Options

 

 

-

 

 

 

-

 

Convertible Debt

 

 

-

 

 

 

-

 

Total

 

 

12,926,507

 

 

 

8,561,476