Deconsolidation and Discontinued Operations

6 Months Ended

Jun. 30, 2025

Deconsolidation and Discontinued Operations [Abstract]

Deconsolidation and Discontinued Operations

15.

Deconsolidation and Discontinued Operations

As disclosed in Note 2, during the six months ended June 30, 2025, the company deconsolidated the activities of Sugar Phase. Upon deconsolidation, the Company accounts for its investment in Sugar Phase on the equity method. The effect of the Deconsolidation resulted in a derecognition of $1,458,927 of assets, $832,121 of liabilities, and $66,667 in the carrying value of the non-controlling interest in Sugar Phase. There was no gain or loss recognized in the deconsolidation as the carrying value of the Company’s investment equated the fair value of its investment. The assets and liabilities of Sugar Phase at the time of deconsolidation amounted to the following:

Assets:
Cash	$	28,970
Prepaid expenses and other current assets		88,109
Total current assets		117,079

Land		601,519
Property, plant and equipment, net		740,329
Total long-term assets		1,341,848

Liabilities:
Accounts payable and accrued expenses		37,600
Short-term notes payable, net		794,521
	$	832,121

The assets and liabilities associated with discontinued operations were as follows at June 30, 2025 and December 31, 2024:

	June 30, 2025		December 31, 2024
	(Unaudited)
Assets of Discontinued Operations
Current assets of discontinued operations:
Cash	$	-	$	68,436
Prepaid assets and other current assets		-		44,413
Current Assets of Discontinued Operations		-		112,849

Land		-		417,500
Property and equipment, net		-		540,711
Equity-based investments		118,398		-

Total Assets of Discontinued Operations	$	118,398	$	958,211

Liabilities of Discontinued Operations
Current liabilities of discontinued operations:
Accounts payable and accrued expenses	$	-	$	7,355
Short-term notes payable, net		-		338,066
Total Current Liabilities of Discontinued Operations	$	-	$	345,421