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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2022
Accounting Policies [Abstract] |
SCHEDULE OF PREVIOUSLY REPORTED CONSOLIDATED STATEMENTS OF OPERATIONS | SCHEDULE OF PREVIOUSLY REPORTED CONSOLIDATED STATEMENTS OF OPERATIONS
|  | Three Months Ended March 31, 2022 |
|  | As Reported |  |  | Adjustment |  |  | As Corrected |
Basic earnings (loss) per share |  |  | 1.95 |  |  |  | 0.51 |  |  |  | 2.46 |
Diluted earnings (loss) per share |  |  | (6.30 | ) |  |  | (3.39 | ) |  |  | (9.69 | )
Weighted average number of shares outstanding – Basic |  |  | 1,215,016 |  |  |  | (234,447 | ) |  |  | 980,569 |
Weighted average number of shares outstanding - Diluted |  |  | 1,573,285 |  |  |  | (377,805 | ) |  |  | 1,195,480 |
SCHEDULE OF RESTRICTED CASH IN STATEMENT OF CASH FLOW | The reconciliation of cash and restricted cash reported within the applicable balance sheet accounts that sum to the total of cash and restricted cash presented in the statement of cash flows is as follows: SCHEDULE OF RESTRICTED CASH IN STATEMENT OF CASH FLOW
|  | March 31, 2022 |  |  | March 31, 2021 |
Cash |  | $ | 5,491,407 |  |  | $ | 9,432,070 |
Restricted cash |  |  | 484,351 |  |  |  | 585,906 |
Total cash and restricted cash |  | $ | 5,975,758 |  |  | $ | 10,017,976 |
SCHEDULE OF PROPERTY AND EQUIPMENT | SCHEDULE OF PROPERTY AND EQUIPMENT
| Useful Life (in years)
Computer equipment |  | 5
Office equipment and furniture |  | 7
Leasehold improvements |  | Shorter of the useful life or the lease term
SCHEDULE OF FAIR VALUE OF WARRANT COMMITMENT | SCHEDULE OF FAIR VALUE OF WARRANT COMMITMENT
|  |  | March 31, 2022 |  |  |  | December 31, 2021 |
Stock price |  | $ | 4.31 |  |  | $ | 6.44 |
Volatility |  |  | 90 | % |  |  | 90 | %
Time to expiry |  |  | 5 |  |  |  | 5 |
Dividend yield |  |  | 0 | % |  |  | 0 | %
Risk free rate |  |  | 2.4 | % |  |  | 1.10 | %
Warrant liability, measurement input |  |  |  |  |  |  |  |
SCHEDULE OF RECONCILES WARRANT COMMITMENT | The following reconciles the fair values of the liability classified warrants: SCHEDULE OF RECONCILES WARRANT COMMITMENT
|  |  | Series B Warrant Commitment |  |  |  | Series B warrant liabilities |  |  |  | Placement agent warrants |  |  | Total |
|  | March 31, 2022 |
|  | Series B Warrant Commitment |  |  | Series B warrant liabilities |  |  | Placement agent warrants |  |  | Total |
Beginning balance |  | $ | 37,652,808 |  |  | $ | - |  |  | $ | - |  |  | $ | 37,652,808 |
Initial recognition |  |  | - |  |  |  | 55,061,119 |  |  |  | 1,525,923 |  |  |  | 56,587,042 |
Unrealized (gain) loss |  |  | 17,408,311 |  |  |  | (31,980,437 | ) |  |  | (946,461 | ) |  |  | (15,518,587 | )
Warrants exercised or transferred |  |  | (55,061,119 | ) |  |  |  |  |  |  |  |  |  |  | (55,061,119 | )
Ending balance |  | $ | - |  |  | $ | 23,080,682 |  |  | $ | 579,462 |  |  | $ | 23,660,144 |
|  |  | Series B Warrant Commitment |  |  |  | Total |
|  | December 31, 2021 |
|  | Series B Warrant Commitment |  |  | Total |
Beginning balance |  | $ | - |  |  | $ | - |
Initial recognition |  |  | 20,244,497 |  |  |  | 20,244,497 |
Unrealized (gain) loss |  |  | 17,408,311 |  |  |  | 17,408,311 |
Warrants exercised or transferred |  |  | - |  |  |  | - |
Ending balance |  | $ | 37,652,808 |  |  | $ | 37,652,808 |
SCHEDULE OF GAIN OR LOSSES RECOGNIZED FAIR VALUE | SCHEDULE OF GAIN OR LOSSES RECOGNIZED FAIR VALUE
|  |  | March 31, 2022 |  |  |  | December 31, 2021 |
Beginning balance - January 1 |  | $ | 3,813,878 |  |  | $ | 2,931,418 |
Acquisitions and Settlements: |  |  | - |  |  |  | - |
JP Kush Acquisition |  |  | - |  |  |  | 1,694,166 |
CCS Write-off |  |  | - |  |  |  | (81,368 | )
Altruis partial settlement |  |  | - |  |  |  | (452,236 | )
|  |  | - |  |  |  | - |
Period adjustments: |  |  |  |  |  |  |  |
Fair value changes and accretion included in earnings* |  |  | 407,071 |  |  |  | (278,102 | )
Ending balance |  | $ | 4,220,949 |  |  | $ | 3,813,878 |
* | Recorded as a reduction to general and administrative expenses
SCHEDULE OF FAIR VALUE MEASUREMENTS | Significant unobservable inputs used in the earn-out fair value measurements of the Company’s contingent consideration liabilities designated as Level 3 are as follows: SCHEDULE OF FAIR VALUE MEASUREMENTS
|  | March 31, 2022 |  |  | December 31, 2021 |
Fair value |  | $ | 4,220,949 |  |  | $ | 3,813,878 |
Valuation technique |  |  | Discounted cash flow |  |  |  | Discounted cash flow |
Significant unobservable input |  |  | Projected revenue and probability of achievement |  |  |  | Projected revenue and probability of achievement |
SCHEDULE OF DISAGGREGATION REVENUE | The following table disaggregates the Company’s revenue by line of business, showing commissions earned: SCHEDULE OF DISAGGREGATION REVENUE
Three Months ended March 31, 2022 |  | Medical/Life |  |  | Property and Casualty |  |  | Total |
Regular |  |  |  |  |  |  |  |  |  |  |  |
EBS |  | $ | 221,184 |  |  | $ | - |  |  | $ | 221,184 |
USBA |  |  | 13,587 |  |  |  | - |  |  |  | 13,587 |
CCS/UIS |  |  | - |  |  |  | 43,881 |  |  |  | 43,881 |
Montana |  |  | 506,721 |  |  |  | - |  |  |  | 506,721 |
Fortman |  |  | 332,600 |  |  |  | 197,260 |  |  |  | 529,860 |
Altruis |  |  | 1,304,872 |  |  |  | - |  |  |  | 1,304,872 |
Kush |  |  | 438,591 |  |  |  | - |  |  |  | 438,591 |
Medigap |  |  | 1,177,085 |  |  |  | - |  |  |  | 1,177,085 |
|  | $ | 3,994,640 |  |  | $ | 241,141 |  |  | $ | 4,235,781 |
Three Months ended March 31, 2021 |  | Medical/Life |  |  | Property and Casualty |  |  | Contingent commission |  |  | Total |
Regular |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
EBS |  |  | 208,994 |  |  |  | - |  |  |  | - |  |  |  | 208,994 |
USBA |  |  | 12,225 |  |  |  | - |  |  |  | - |  |  |  | 12,225 |
CCS/UIS |  |  | - |  |  |  | 88,818 |  |  |  | - |  |  |  | 88,818 |
Montana |  |  | 535,116 |  |  |  | - |  |  |  | - |  |  |  | 535,116 |
Fortman |  |  | 249,801 |  |  |  | 207,772 |  |  |  | - |  |  |  | 457,573 |
Altruis |  |  | 1,021,004 |  |  |  | - |  |  |  | - |  |  |  | 1,021,004 |
|  |  | 2,027,140 |  |  |  | 296,590 |  |  |  | - |  |  |  | 2,323,730 |
SUMMARIZES THE CHANGES TO THE PREVIOUSLY ISSUED FINANCIAL INFORMATION | SUMMARIZES THE CHANGES TO THE PREVIOUSLY ISSUED FINANCIAL INFORMATION
Account |  | 3/31/2021 As reported |  |  | Adjustment |  |  | 3/31/2021 Adjusted |
Earn-out liability-Closing balance as of December 31, 2020 |  |  | 2,631,418 |  |  |  | 300,000 |  |  |  | 2,931,418 |
Goodwill-Closing balance as of December 31, 2020 |  |  | 9,265,070 |  |  |  | (503,345 | ) |  |  | 8,761,725 |
Common stock issuable-Closing balance as of December 31, 2020 |  |  | 822,116 |  |  |  | (482,116 | ) |  |  | 340,000 |
Additional paid-in-capital-Closing balance as of December 31, 2020 |  |  | 11,377,123 |  |  |  | 182,116 |  |  |  | 11,559,239 |
Accumulated Deficit-Closing balance as of December 31, 2020 |  |  | (12,482,281 | ) |  |  | 122,601 |  |  |  | (12,359,680 | )
Common stock issuable |  |  | 482,116 |  |  |  | (482,116 | ) |  |  | - |
Accumulated Deficit |  |  | (13,123,609 | ) |  |  | 150,003 |  |  |  | (12,973,606 | )
Additional paid-in-capital |  |  | 25,810,147 |  |  |  | 182,116 |  |  |  | 25,992,263 |
Commission income |  |  | 2,296,328 |  |  |  | 27,402 |  |  |  | 2,323,730 |
Total Revenue |  |  | 2,296,328 |  |  |  | 27,402 |  |  |  | 2,323,730 |
Net Loss |  |  | (641,328 | ) |  |  | 27,402 |  |  |  | (613,926 | )
EPS |  |  | (0.09 | ) |  |  | (0.01 | ) |  |  | (0.08 | )

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