v3.25.2
Business Combination and Acquisition of Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination and Acquisition of Assets [Abstract]  
Schedule of Purchase Consideration

The purchase consideration amounted to:

 

Cash  $154,675 
Equity compensation   435,000 
   $589,675 

The purchase consideration amounted to:

 

Equity compensation  $103,800 

The purchase consideration amounted to:

 

Note payable   $ 480,000  
Equity compensation     9,092,182  
    $ 9,572,182  
Schedule of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed for the Majestic Acquisition:  

 

Cash and cash equivalents  $1,082 
Intangible assets   620,930 
Accounts payable and accrued expenses   (32,337)
   $589,675 

The following table summarizes the allocation of the purchase price to the assets acquired:

 

Intangible assets  $103,800 

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed for the Resource Group Acquisition:  

 

Cash and cash equivalents   $ 309,556  
Accounts receivable     927,808  
Inventory     949,670  
Prepaid expenses and other current assets     1,151,174  
Property and equipment     5,583,820  
Intangible assets     -  
Right of use assets     319,467  
Accounts payable and accrued expenses     (1,950,659 )
Notes payable     (13,340,538 )
Notes payable, related party     (5,256,000 )
Operating lease liabilities     (1,958,313 )
Finance lease liabilities     (817,390 )
Goodwill     23,353,585  
    $ 9,752,182  
Schedule of Business Combination Pro Forma Information

The following unaudited pro forma consolidated results of operations for the three months ended June 30, 2025 and 2024 assume the acquisition Resource Group was completed on January 1, 2024:

 

   For the
Three  Months
Ended
June 30,
2025		   For the
Three  Months
Ended
June 30,
2024		 
   (Unaudited)   (Unaudited) 
Pro-forma total revenues  $4,940,631   $4,644,124 
Pro-forma net loss  $(7,207,204)  $(4,800,108)

 

The following unaudited pro forma consolidated results of operations for the six months ended June 30, 2025 and 2024 assume the acquisition Resource Group was completed on January 1, 2024:

 

   For the
Six  Months
Ended
June 30,
2025		   For the
Six  Months
Ended
June 30,
2024		 
   (Unaudited)   (Unaudited) 
Pro-forma total revenues  $10,237,365   $8,785,928 
Pro-forma net loss  $(8,645,522)  $(6,215,229)