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CONVERTIBLE NOTES PAYABLE (Tables) | 12 Months Ended
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Dec. 31, 2023
Convertible Notes Payable |
Schedule of convertible notes payable |
Schedule of convertible notes payable |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Conversion price per share |  | Interest rate |  | Due date |  | December 31, 2023 |  |  | December 31, 2022 |
Convertible promissory note |  | $4.00 |  | 4% |  | May 10, 2024 |  | $ | - |  |  | $ | 660,000 |
Convertible promissory note – original issue discount (“OID”) only |  | 90% of 5-day VWAP |  | OID Only |  | September 28, 2024 |  |  | 1,673,000 |  |  |  | - |
AVLP convertible promissory notes, principal |  | $0.35 (AVLP stock) |  | 7% |  | August 22, 2025 |  |  | 9,911,000 |  |  |  | 9,911,000 |
GIGA senior secured convertible notes - in default |  | $0.25 (GIGA stock) |  | 18% |  | October 11, 2024 |  |  | 4,388,000 |  |  |  | - |
ROI senior secured convertible note |  | $0.11 (ROI stock) |  | OID Only |  | April 27, 2024 |  |  | 6,513,000 |  |  |  | - |
Fair value of embedded conversion options |  |  |  |  |  |  |  |  | 910,000 |  |  |  | 2,316,000 |
Total convertible notes payable |  |  |  |  |  |  |  |  | 23,395,000 |  |  |  | 12,887,000 |
Less: unamortized debt discounts |  |  |  |  |  |  |  |  | (2,179,000 | ) |  |  | (111,000 | )
Total convertible notes payable, net of financing cost, long term |  |  |  |  |  |  |  | $ | 21,216,000 |  |  | $ | 12,776,000 |
Less: current portion |  |  |  |  |  |  |  |  | (11,763,000 | ) |  |  | (1,325,000 | )
Convertible notes payable, net of financing cost – long-term portion |  |  |  |  |  |  |  | $ | 9,453,000 |  |  | $ | 11,451,000 |
Schedule of contractual maturities |
Schedule of contractual maturities |  |  |  |
Year |  | Principal |
2024 |  | $ | 12,574,000 |
2025 |  |  | 10,821,000 |
|  | $ | 23,395,000 |
Schedule of weighted average assumptions |
Schedule of weighted average assumptions |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2023 |  |  | December 31, 2022 |  |  | At Inception |
Contractual term in years |  |  | 0.3 |  |  |  | 2.7 |  |  |  | 1.0 |
Volatility |  |  | 138% |  |  |  | 82% |  |  |  | 111% |
Dividend yield |  |  | 0% |  |  |  | 0% |  |  |  | 0% |
Risk-free interest rate |  |  | 3.8% |  |  |  | 4.0% |  |  |  | 3.5% |
Schedule of derivative liabilities |
Schedule of derivative liabilities |  |  |  |  |  |  |  |
|  | For the Year Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 2,316,000 |  |  | $ | - |
Fair value of embedded conversion options issued or acquired |  |  | 1,652,000 |  |  |  | 5,851,000 |
Change in fair value |  |  | (3,058,000 | ) |  |  | (3,535,000 | )
Ending balance |  | $ | 910,000 |  |  | $ | 2,316,000 |
Schedule of convertible notes payable |
Schedule of convertible notes payable |  |  |  |  |  |  |  |
|  | For the Year Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 10,571,000 |  |  | $ | 660,000 |
Convertible notes from acquisitions |  |  | - |  |  |  | 9,911,000 |
Issuance of convertible notes |  |  | 12,441,000 |  |  |  | - |
Transfer out of level 3 |  |  | (527,000 | ) |  |  | - |
Ending balance |  | $ | 22,485,000 |  |  | $ | 10,571,000 |

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