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BUSINESS ACQUISITIONS AND ASSET ACQUISTION - TECHNOLGY (Tables) | 12 Months Ended
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Jun. 30, 2023
Augmented Reality Investments Pty Ltd [Member] |
Business Acquisition [Line Items] |
SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION | SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION
Intangible assets: |  |  |
Customer relationships |  | $ | 250,000 |
Technology |  |  | 250,000 |
Goodwill |  |  | 250,000 |
Total |  | $ | 750,000 |
XR Terra, Inc. [Member] |
Business Acquisition [Line Items] |
SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION | SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION
Intangible assets: |  |  |
Technology |  | $ | 300,000 |
Goodwill |  |  | 300,000 |
Total |  | $ | 600,000 |
PulpoAR, LLC [Member] |
Business Acquisition [Line Items] |
SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION | SCHEDULE OF ASSETS ACQUISITION PURCHASE PRICE ALLOCATION
Intangible assets: |  |  |
Technology |  | $ | 925,000 |
Goodwill |  |  | 309,037 |
Total |  | $ | 1,234,037 |
Brightline Interactive, LLC [Member] |
Business Acquisition [Line Items] |
SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION | The fair value allocation for the purchase price consideration paid at Closing was recorded as follows: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION
Purchase price consideration: |  |  |  |
Cash paid to members at Closing |  | $ | 2,494,213 |
Company common stock fair value at Closing |  |  | 2,846,144 |
Fair value of contingent consideration to be achieved |  |  | 7,325,000 |
Total purchase price |  | $ | 12,665,357 |
Fair value allocation of purchase price: |  |  |  |
Cash and cash equivalents |  | $ | 15,560 |
Accounts receivable |  |  | 253,041 |
Deferred costs/contract assets |  |  | 552,625 |
Other assets |  |  | 10,000 |
Equipment, net |  |  | 55,580 |
Accounts payable and accrued expenses |  |  | (848,079 | )
Deferred revenue/contract liabilities |  |  | (2,037,070 | )
Intangible assets - customer relationships |  |  | 3,310,000 |
Intangible assets - technology |  |  | 880,000 |
Goodwill |  |  | 10,473,700 |
Total fair value allocation of purchase price |  | $ | 12,665,357 |
SCHEDULE OF PROFORMA FINANCIAL INFORMATION | The approximate unaudited pro forma financial information if BLI was included since July 1, 2021 would be: SCHEDULE OF PROFORMA FINANCIAL INFORMATION
|  | 2023 |  |  | 2022 |
|  | For the Years Ended June 30, |
|  | 2023 |  |  | 2022 |
Revenue |  | $ | 13,485,000 |  |  | $ | 14,180,000 |
Net Loss |  | $ | (28,702,000 | ) |  | $ | (6,698,000 | )
Sector 5 Digital, LLC [Member] |
Business Acquisition [Line Items] |
SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION | The fair value allocation for the purchase price consideration paid at close was recorded as follows: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION
Purchase price consideration: |  |  |
Cash paid to members at closing |  | $ | 4,000,000 |
Company common stock fair value when released from escrow at S5D Closing |  |  | 2,297,303 |
Fair value of contingent consideration to be achieved |  |  | 9,169,200 |
Total purchase price |  | $ | 15,466,503 |
Fair value allocation of purchase price: |  |  |  |
Cash and cash equivalents |  | $ | 184,106 |
Accounts receivable |  |  | 411,602 |
Other current assets |  |  | 10,259 |
Equipment, net |  |  | 60,479 |
Other assets |  |  | 9,246 |
Accounts payable and accrued expenses |  |  | (183,806 | )
Contract liability (billings in excess of cost) |  |  | (451,106 | )
Intangible assets - customer relationships |  |  | 2,820,000 |
Goodwill |  |  | 12,605,723 |
Total fair value allocation of purchase price |  | $ | 15,466,503 |
SCHEDULE OF PROFORMA FINANCIAL INFORMATION | The approximate unaudited pro forma financial information if S5D was included since July 1, 2021 would be: SCHEDULE OF PROFORMA FINANCIAL INFORMATION
|  | For the Year Ended |
|  | June 30, 2022 |
Revenue |  | $ | 9,768,000 |
Net loss |  | $ | (5,841,000 | )

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