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ACQUISITION (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
SCHEDULE OF CONSIDERATION TRANSFERRED | A summary of the consideration transferred and fair value of assets acquired and liabilities assumed in the NanoSynex Acquisition is as follows (all shares shown post Reverse Stock Split): SCHEDULE OF CONSIDERATION TRANSFERRED
Consideration transferred, net of cash acquired |  |  |
Cash paid for NanoSynex preferred stock: |  | $ | 600,000 |
FMV of 350,000 shares of Qualigen stock issued to Alpha Capital |  | $ | 1,904,989 |
FMV of 331,464 shares of Qualigen stock related to prefunded warrant issued to Alpha Capital (See Note 15) |  | $ | 1,804,102 |
Total consideration paid for NanoSynex preferred stock |  | $ | 3,709,091 |
FMV of consideration related to repricing of 7,048 shares of Alpha Capital/Qualigen warrants * |  | $ | 696 |
NanoSynex cash acquired |  |  | (735,354 | )
Total consideration transferred, net of cash acquired |  | $ | 3,574,433 |
* |  | See Note 15 – Stockholders’ Equity and disclosure under Noncompensatory Equity Classified Warrants for additional details regarding the warrants issued to Alpha Capital in the NanoSynex Acquisition.
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES | SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES
|  | Purchase Price Allocation |
Accounts receivable |  | $ | 75,336 |
Property and equipment |  |  | 120,942 |
In process R&D |  |  | 5,700,000 |
Accounts payable |  |  | (4,588 | )
Accrued expenses and other payables |  |  | (291,093 | )
R&D grant liability |  |  | (1,362,264 | )
Short term debt |  |  | (941,898 | )
Deferred tax liability |  |  | (629,379 | )
Noncontrolling interest assumed |  |  | (3,882,225 | )
Identifiable net assets acquired |  |  | (1,215,169 | )
Goodwill |  |  | 4,789,602 |
Total consideration transferred, net of cash acquired |  | $ | 3,574,433 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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