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REVOLVING LOAN AND PROMISSORY NOTE- RELATED PARTY (Tables)

12 Months Ended

Dec. 31, 2024

Nov. 30, 2024

SCHEDULE OF REVOLVING LOAN AND PROMISSORY NOTE WITH RELATED PARTY

Revolving loan and promissory note with a related party consisted of the following at December 31, 2024 and December 31, 2023, in thousand:

 SCHEDULE OF REVOLVING LOAN AND PROMISSORY NOTE WITH RELATED PARTY

		December 31, 2024				December 31, 2023
Dennis Liotta, March 2023 – 10% interest – promissory note due March 2024			—				1,000
Total notes from related party - current		$	—			$	1,000

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The net deferred tax assets and liabilities consist of the following amounts at December 31, 2024 and 2023, in thousands:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		2024				2023
Deferred Tax Assets
Allowance for doubtful Accounts		$	—			$	1
Temporary differences
Permanent differences
Investment in Plane Cos LLC			—				44
Loss carryforwards			18,398				11,521
Intangible			530				626
Interest expense limitations			2,484				659
Other			47				15
Total deferred tax assets			21,459				12,866
Deferred Tax Liabilities
Property and equipment depreciation			(25	)			(74	)
Valuation allowance			(21,738	)			(13,096	)
Total deferred tax liabilities			(21,763	)			(13,170	)
Net deferred tax assets (liabilities)			(305	)			(305	)

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

A reconciliation from the statutory federal income tax rate to the effective income tax rate is as follows:

 SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

		2024				2023
Expected federal income taxes at statutory rate			21.00	%			21.00	%
State and local income taxes			4.54	%			4.54	%
Temporary differences
Permanent differences			(3.76	)%			(6.79	)%
Change in valuation allowance			(21.35	)%			(18.18	)%
Other			0.82	%			(0.69	)%
Effective income tax rate			1.25	%			(0.12	)%

M2i Global Inc [Member]

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The Company had deferred income tax assets as of the fiscal years ended November 30, 2024, and 2023, as follows:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		2024				2023
Deferred Tax Assets
Net operating loss carryforwards		$	1,270,500			$	444,000
Temporary differences			-				-
Permanent differences			-				(1,000	)
Valuation allowance			(1,270,500	)			(443,000	)
Net deferred tax assets		$	-			$	-

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

 SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

		2024				2023
Federal tax statutory rate			21	%			21	%
Temporary differences			0	%			0	%
Permanent differences			0	%			0	%
Valuation Allowance			-21	%			-21	%
Effective income tax rate			0	%			0	%

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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