v3.26.1
Deconsolidation and Discontinued Operations
 12 Months Ended
Dec. 31, 2025
Deconsolidation and Discontinued Operations [Abstract]  
Deconsolidation and Discontinued Operations
17. Deconsolidation and Discontinued Operations

 

As disclosed in Note 2, during the year ended December 31, 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 

 

As disclosed in Note 2, during the year ended December 31, 2025, the Company deconsolidated the activities of Pulga. Upon deconsolidation, the Company accounts for its investment in Pulga pursuant to the equity method. The effect of the Deconsolidation resulted in a derecognition of $164,895 of assets, $0 of liabilities, and $164,895 in the carrying value of the non-controlling interest in Pulga. 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 Pulga at the time of deconsolidation amounted to the following:

 

Assets:    
Land  $164,895 
Total long-term assets  $164,895 

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

 

    December 31,
2025		     December 31,
2024		  
             
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     -       582,395  
Property and equipment, net     -       540,711  
Equity-based investments    
 
       -  
                 
Total Assets of Discontinued Operations   $
 
     $ 1,123,106  
                 
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