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BUSINESS ACQUISITIONS AND ASSET ACQUISTION - TECHNOLGY (Tables)
 12 Months Ended
Jun. 30, 2023
Augmented Reality Investments Pty Ltd [Member]  
Business Acquisition [Line Items]  
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

 

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

 

     
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:

 

 

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:

 

 

   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:

 

 

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:

 

  

For the Year

Ended

 
   June 30, 2022 
     
Revenue  $9,768,000 
Net loss  $(5,841,000)