v3.25.1
WARRANT LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure Warrant Liabilities Abstract  
SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED

Allocation of the purchase price based on the estimated fair values of the acquired assets and liabilities assumed are as follows:

 

   Amounts 
Assets:     
Inventory  $143,423 
Other Current Assets/(Liabilities), net   (3,068)
Property and Equipment   127,600 
Intangible Asset – Thinking Tree Trade Name   250,000 
Intangible Asset – Thinking Tree Customer Relationships   190,000 
Goodwill   589,870 
Total Assets  $1,297,825 
Liabilities:     
Accounts Payable and Other Current Liabilities  $42,739 
SBA Loan   389,875 
Other Non-Current Liabilities   17,449 
Total Liabilities   450,063 
Total Purchase Consideration  $847,762 
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

As described in more detail above, Intangible Assets and Goodwill related to the TTS acquisition are composed of the following as of December 31, 2024:

 

   Life  Cost  

Accumulated

Amortization

  

Accumulated

Impairment

Charge

   Net 
Intangible Assets:                       
Thinking Tree Trade Name  6 years  $250,000   $14,671   $—   $235,329 
Thinking Tree Customer Relationships  10 years   190,000    4,178    —    185,822 
Goodwill – Thinking Tree Acquisition  N/A   589,870    N/A    —    589,870 
Total     $1,029,870   $18,849   $—   $1,011,021