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ACQUISITION AND TECHNOLGY PURCHASE (Tables) - Sector Five Digital LLC [Member] | 6 Months Ended
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Dec. 31, 2022
Business Acquisition [Line Items] |
SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION | The fair value allocation for the purchase price consideration paid at Closing (including subsequent post-closing adjustment) was recorded as follows: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION
Purchase price consideration: |  |  |  |
Cash paid to members at Closing |  | $ | 2,494,213 |
Post-closing working capital adjustment |  |  | (185,501 | )
Company common stock fair value at Closing |  |  | 2,846,144 |
Fair value of contingent consideration to be achieved |  |  | 6,139,000 |
Total purchase price |  | $ | 11,293,856 |
Fair value allocation of purchase price: |  |  |  |
Cash and cash equivalents |  | $ | 15,560 |
Accounts receivable |  |  | 253,041 |
Deferred costs/contract assets |  |  | 552,625 |
Other assets |  |  | 90,000 |
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 |  |  | 9,022,199 |
Total fair value allocation of purchase price |  | $ | 11,293,856 |
SCHEDULE OF PROFORMA FINANCIAL INFORMATION | The approximate unaudited pro forma financial information if BLI was included since July 1, 2022 would be: SCHEDULE OF PROFORMA FINANCIAL INFORMATION
|  | For the Six Months Ended |
|  | December 31, 2022 |
Revenue |  | $ | 6,904,000 |
Net Loss |  | $ | (4,225,000 | )

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