v3.25.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SCHEDULE OF COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

As of December 31, 2024 and 2023, the value of common stock subject to possible redemption reflected on the balance sheet is reconciled on the following table:

 

SCHEDULE OF COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

Common stock subject to possible redemption as of December 31, 2022   117,299,975 
Less:     
Redemption   (114,329,594)
Add:     
Accretion of carrying value to redemption value   337,983 
Common stock subject to possible redemption as of December 31, 2023  $3,308,364 
Less:     
Redemption   (1,403,558)
Add:     
Increase of carrying value to redemption value due to change in tax   12,503 
Common stock subject to possible redemption as of December 31, 2024  $1,917,309 
SCHEDULE OF ESTIMATED USEFUL LIVES OF RELATED ASSETS

Equipment is carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the equipment are as follows:

 

 

Office equipment  3 years
Furniture and fixtures  5 years
Leasehold improvement  Co-terminal with lease
Capital lease  1 year
Software  3 years
SCHEDULE OF DISAGGREGATED REVENUES

The Company’s disaggregated revenues for the year ended December 31, 2024 and 2023 were as follows:

 

   2024   2023 
   Years ended 
   December 31, 
   2024   2023 
         
Advisory Consulting  $17,441,216   $19,256,173 
Managed Security Service Practice (MSSP)   318,079     77,385 
Software as a Service (Saas)   12,190    16,650 
Revenues  $17,771,485   $19,350,208 
SCHEDULE OF DEFERRED REVENUE

The following table shows the changes in the contract liabilities accounts shown as deferred revenue of the Company’s consolidated balance sheets as of December 31, 2024 and 2023.

 

   December 31,   December 31, 
   2024   2023 
Balance, beginning of year  $253,902   $11,803 
Deferral of revenue   -    253,902 
Recognition of deferred revenue   (253,902)   (11,803)
Balance, end of year  $-   $253,902