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STOCKHOLDERS’ EQUITY | 9 Months Ended | 12 Months Ended
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Sep. 30, 2024 | Dec. 31, 2023
STOCKHOLDERS’ EQUITY | NOTE 10 – ISSUANCE OF COMMON STOCK Equity Incentive Plan On April 12, 2022, the Board of Directors approved The Singing Machine Company, Inc. 2022 Equity Incentive Plan, or the 2022 Plan. The 2022 Plan provides for the issuance of equity incentive awards, such as stock options, stock appreciation rights, stock awards, restricted stock, stock units, performance awards and other stock or cash-based awards collectively, the “Awards.” Awards may be granted under the 2022 Plan to the Company’s employees, officers, directors, consultants, agents, advisors and independent contractors. There were 150,943 share base compensation awards issued under the 2022 Plan during the three and nine months ended September 30, 2024 with a weighted average grant date fair value of $0.55 per share. There were no share base compensation awards issued under the 2022 Plan during the three and nine months ended September 30, 2023. There were 1,250 and 6,500 shares forfeited during the three and nine months ended September 30, 2024, respectively. There were no shares forfeited during the three and nine months ended September 30, 2023. As of September 30, 2024, there were 63,453 shares available to be issued under the 2022 Plan. Equity compensation under the 2022 Plan was approximately $101,000 and $138,000 during the three and nine months ended September 30, 2024 and was expensed as a component of general administrative expenses on the accompanying condensed consolidated statements of operations. As of September 30, 2024, there was an unrecognized expense of approximately $50,000 remaining on options currently vesting over time with an approximate weighted average of twelve months remaining until these options are fully vested. The vested options as of September 30, 2024, had no intrinsic value. Other Equity Compensation During the three and nine months ended September 30, 2024, the Company issued 774,528 shares of common stock to three vendors for payment of consulting services rendered and 94,340 for restricted shares of common stock to Vivek Sehgal (a related party) as bonus compensation (See Note 5). The grant date fair value for all of these share issuances was approximately $478,000 and were expensed as a component of general and administrative expenses on the accompanying condensed consolidated statements of operations during the three and nine months ended September 30, 2024. These shares vest immediately but must be held for a minimum of six months in accordance with Securities Exchange Commission Rule 144. |
Semi Cab Inc [Member] |  |
STOCKHOLDERS’ EQUITY |  | NOTE 10 – STOCKHOLDERS’ EQUITY EQUITY INCCENTIVE PLAN The Company has maintained an equity incentive plan since 2020. Under this plan, all employees have been eligible to received common stock options as a part of their performance-based incentive compensation plan. COMMON STOCK OPTIONS During the years ended Dember 31, 2020, 2021 and 2022 the Company issued the following stock options, as shown below. No options were issued in 2023 or 2024. SCHEDULE OF STOCK OPTION ISSUED DURING THE YEAR DECEMBER 31, 2020, 2021 AND 2022
Holder |  | Granted Shares |  |  | Outstanding Awards |  |  | Grant Date |  | Exercise Price |  |  | Vesting Start Date |  | Vested Outstanding |  |  | Unvested |  |  | Date Fully Vested |  | Board Approval Date |  | Expiration Date
Sudhir Narasimhamurthy |  |  | 180,000 |  |  |  | 180,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 180,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Sudhir Narasimhamurthy |  |  | 50,000 |  |  |  | 50,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 33,333 |  |  |  | 16,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Sudhir Narasimhamurthy |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Kadandale Srinivas Sudheer |  |  | 600,000 |  |  |  | 600,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 600,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Kadandale Srinivas Sudheer |  |  | 100,000 |  |  |  | 100,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 66,666 |  |  |  | 33,334 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Kadandale Srinivas Sudheer |  |  | 50,000 |  |  |  | 50,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Vivek Sehgal |  |  | 4,000,000 |  |  |  | 4,000,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 4,000,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Vivek Sehgal |  |  | 200,000 |  |  |  | 200,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 133,333 |  |  |  | 66,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Vivek Sehgal |  |  | 100,000 |  |  |  | 100,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 50,000 |  |  |  | 50,000 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Rajiv Saxena |  |  | 100,000 |  |  |  | 100,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 100,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Harsha Bhat |  |  | 180,000 |  |  |  | 180,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 180,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Harsha Bhat |  |  | 50,000 |  |  |  | 50,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 33,333 |  |  |  | 16,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Harsha Bhat |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Jagan Reddy |  |  | 4,000,000 |  |  |  | 4,000,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 4,000,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Jagan Reddy |  |  | 200,000 |  |  |  | 200,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 133,333 |  |  |  | 66,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Jagan Reddy |  |  | 100,000 |  |  |  | 100,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 50,000 |  |  |  | 50,000 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Siddayya S Ganjal |  |  | 180,000 |  |  |  | 180,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 180,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Siddayya S Ganjal |  |  | 50,000 |  |  |  | 50,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 33,333 |  |  |  | 16,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Siddayya S Ganjal |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Sunil Arora |  |  | 90,000 |  |  |  | 0 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 0 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Rajiv Virmani |  |  | 500,000 |  |  |  | 500,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 500,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Sudhindra Shenoy |  |  | 180,000 |  |  |  | 180,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 180,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Sudhindra Shenoy |  |  | 50,000 |  |  |  | 50,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 33,333 |  |  |  | 16,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Sudhindra Shenoy |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Antony Sunil |  |  | 90,000 |  |  |  | 90,000 |  |  | 09-29-2020 |  | $ | 0.06 |  |  | 09-29-2020 |  |  | 90,000 |  |  |  | 0 |  |  | 09-29-2023 |  | 09-28-2020 |  | 09-28-2030
Antony Sunil |  |  | 50,000 |  |  |  | 50,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 33,333 |  |  |  | 16,667 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Antony Sunil |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Tuleeka Nandy |  |  | 15,000 |  |  |  | 0 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 0 |  |  |  | 0 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Tuleeka Nandy |  |  | 15,000 |  |  |  | 15,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 7,500 |  |  |  | 7,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Robel Atnafu |  |  | 5,000 |  |  |  | 0 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 0 |  |  |  | 0 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Guy Primus |  |  | 360,000 |  |  |  | 360,000 |  |  | 08-12-2021 |  | $ | 0.06 |  |  | 09-01-2021 |  |  | 240,000 |  |  |  | 120,000 |  |  | 09-01-2025 |  | 08-12-2021 |  | 08-11-2031
Samartha Gowda |  |  | 15,000 |  |  |  | 15,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 7,500 |  |  |  | 7,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Alexandra Aiello |  |  | 2,500 |  |  |  | 2,500 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 1,250 |  |  |  | 1,250 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Stephen Cabral |  |  | 5,000 |  |  |  | 0 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 0 |  |  |  | 0 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Jonah Petit-Perrin |  |  | 2,500 |  |  |  | 2,500 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 1,250 |  |  |  | 1,250 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Bryan Nella |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-02-2022 |  | $ | 0.05 |  |  | 05-02-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-02-2026 |  | 05-02-2022 |  | 05-01-2032
Mark Sink |  |  | 25,000 |  |  |  | 25,000 |  |  | 05-16-2022 |  | $ | 0.05 |  |  | 05-16-2022 |  |  | 12,500 |  |  |  | 12,500 |  |  | 05-16-2026 |  | 05-02-2022 |  | 05-15-2032
Koustav Choudhuri |  |  | 17,000 |  |  |  | 17,000 |  |  | 05-16-2022 |  | $ | 0.05 |  |  | 05-16-2022 |  |  | 8,500 |  |  |  | 8,500 |  |  | 05-16-2026 |  | 05-02-2022 |  | 05-15-2032
Total |  |  | 11,712,000 |  |  |  | 11,597,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
WARRANTS Not applicable. The Company has not issued any form of a warrant. COMMON STOCK ISSUANCES Not applicable other than founders shares in the amount of 25,000,000. The Company has only used SAFE convertible notes convertible into preferred equity, and common stock options to date.

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