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AMALGAMATION WITH MAGICMED INDUSTRIES INC. (Tables) | 9 Months Ended
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Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract] |
SCHEDULE OF BUSINESS ACQUISITIONS | SCHEDULE OF BUSINESS ACQUISITIONS
Stock (9,951,217 common shares issued) |  | $ | 27,067,310 |
Fair value of warrants |  |  | 10,724,578 |
Fair value of options |  |  | 1,250,394 |
Deferred tax liability incurred |  |  | 9,061,927 |
Total Purchase Price |  | $ | 48,104,209 |
SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED | SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED
Description |  | Fair Value |
Assets acquired: |  |  |  |
Cash |  | $ | 3,055,327 |
Prepaid expenses and other current assets |  |  | 440,968 |
Government remittances recoverable |  |  | 25,607 |
Property and equipment |  |  | 143,945 |
Other assets |  |  | 11,182 |
In process research and development |  |  | 36,246,678 |
Goodwill |  |  | 9,061,927 |
Total assets acquired |  | $ | 48,985,634 |
Liabilities assumed: |  |  |  |
Accounts payable |  | $ | 811,961 |
Accrued expenses and other liabilities |  |  | 69,464 |
Deferred Tax Liabilities |  |  | 9,061,927 |
Total liabilities assumed |  |  | 9,943,352 |
Estimated fair value of net assets acquired attributable to the Company |  | $ | 39,042,282 |
SCHEDUELE OF PROFORMA INFORMATION | SCHEDUELE OF PROFORMA INFORMATION
|  |  | For the Three Months Ended September 30, 2020 |  |  |  | For the Nine Months Ended September 30, 2020 |
Revenues |  | $ | - |  |  | $ | - |
Net loss |  | $ | (862,582 | ) |  | $ | (2,810,104 | )
Enveric Biosciences, Inc. and Subsidiaries Notes to Unaudited Condensed Consolidated Financial Statements
|  |  | For the Three Months Ended September 30, 2021 |  |  |  | For the Nine Months Ended September 30, 2021 |
Revenues |  | $ | - |  |  | $ | - |
Net loss |  | $ | (3,726,677 | ) |  | $ | (10,922,678 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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