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ASSET ACQUISITION (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
SCHEDULE OF CONSIDERATION TRANSFERRED TO THE ASSETS ACQUIRED AND LIABILITIES ASSUMED | The following table presents the allocation of the consideration transferred to the assets acquired and liabilities assumed based on their fair values: SCHEDULE OF CONSIDERATION TRANSFERRED TO THE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Equity consideration |  | $ | 494,000 |
Fair value of non-controlling interest |  |  | 74,000 |
Total Equity Consideration |  |  | 568,000 |
Debt Extinguishment |  |  | 415,000 |
Total Consideration |  | $ | 983,000 |
Identifiable net assets acquired: |  |  |  |
Cash and Cash Equivalents |  | $ | 17,000 |
Accounts receivable |  |  | 193,000 |
Prepaid expenses and other current assets |  |  | 13,000 |
Property and equipment, net |  |  | 3,000 |
Other Non-Current Operating Assets, Net |  |  | 14,000 |
Customer Relationships (9 year estimated useful life) |  |  | 747,000 |
Trade Name (9 year estimated useful life) |  |  | 272,000 |
Developed Technology (6 year estimated useful life) |  |  | 381,000 |
Accounts payable and accrued expenses |  |  | (2,680,000 | )
Loans payable Merchant Cash Advances (MCA) |  |  | (631,000 | )
Note payable |  |  | (50,000 | )
Notes payable Related Parties |  |  | (650,000 | )
Net assets acquired |  |  | (2,371,000 | )
Estimated Goodwill |  | $ | 3,354,000 |
SCHEDULE OF PRO FORMA FINANCIAL INFORMATION | SCHEDULE OF PRO FORMA FINANCIAL INFORMATION
|  | Nine Months Ended |
|  | September 30, 2024 |  |  | September 30, 2023 |
Net revenue |  | $ | 16,831,000 |  |  |  | 26,848,000 |
Operating loss from continuing operations |  |  | (8,093,000 | ) |  |  | (6,187,000 | )
Net loss |  |  | (8,451,000 | ) |  |  | (7,164,000 | )

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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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