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Business Combination and Acquisition of Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination and Acquisition of Assets |
Schedule of purchase consideration |
| Cash | $ | 500,000 |
| Contingent consideration payable |  | 945,000 |
| Equity consideration |  | 435,000 |
|  | $ | 1,880,000 |
Schedule of purchase price to the assets acquired and liabilities assumed |
| Cash and cash equivalents | $ | 1,082 |
| Intangible assets |  | 100,468 |
| Goodwill |  | 1,810,787 |
| Accounts payable and accrued expenses |  | (32,337 | )
|  | $ | 1,880,000 |
Schedule of proforma condensed consolidated statement of operations |
|  | For the Six Months Ended June 30, 2024 |
|  | (Unaudited) |
| Revenue: |  |
| Sales | $ | 163,970 |
| Total |  | 163,970 |
| Operating expenses: |  |
| Payroll and related expenses | $ | 2,611,732 |
| General and administrative expenses |  | 804,317 |
| Marketing and business development expense |  | 201,811 |
| Total |  | 3,617,860 |
| Operating loss |  | (3,453,890 | )
| Other expense: |  |  |
| Interest Expense |  | (1,631,814 | )
| Net loss | $ | (5,085,704 | )

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + 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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