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Acquisition (Tables)
3 Months Ended
Mar. 31, 2023
Business Acquisition [Line Items]  
Schedule of Purchase Price Allocation

The following table summarizes the purchase price allocation:

      
Property, plant & equipment  $27,117 
Software   9,189 
Cash & cash equivalents   245,524 
Prepaid expense   23,061 
Security deposit   675 
Accounts receivables   232,265 
Accounts Payable   (206,508)
Accrued Expense   (235,894)
Fair value of net assets acquired  $95,429 
Other intangibles   10,800,000 
Goodwill   19,266,276 
Deferred tax liabilities   (1,758,769)
Total purchase consideration  $28,402,936 
Schedule of Fair Value Consideration

 

      
Company’s Class A common stock comprises of 11,386,139 shares   115,000,000 
Cash consideration   13,050,199 
Deferred cash consideration   56,949,801 
Total fair value of consideration   185,000,000 
Schedule of Intangible Assets and Related Useful Lives as Included in Purchase Price Allocation

   Amount   Useful life in
Years
 
Market related intangible assets  $2,100,000    8 
Customer relationships   2,000,000    10 
Developed technology   6,700,000    10 
Fair value of consideration  $10,800,000      
Abacha [Member]  
Business Acquisition [Line Items]  
Schedule of Fair Value Consideration

The following table summarizes the total fair value of consideration:

 

     
Cash paid  $2,763,800 
Deferred cash payment   5,452,424 
Share issued – common stock (2,099,977 shares)   8,105,911 
Settlement of pre-existing notes along with accrued interest   523,404 
Future consideration settled in common stock   11,557,397 
Fair value of consideration  $28,402,936