| DECONSOLIDATION AND DISCONTINUED OPERATIONS |
23. DECONSOLIDATION AND DISCONTINUED OPERATIONS During 2024, the Company recognized the effects of the deconsolidation of SG DevCorp which was previously consolidated in the Company’s financial statements. | Assets: | | | | | Cash | | $ | 567,473 | | | Assets held for sale | | | 4,400,361 | | | Prepaid expenses and other current assets | | | 429,331 | | | Total current assets | | | 5,397,165 | | | | | | | | | Property, plant and equipment, net | | | 1,194,117 | | | Project development costs and other non-current assets | | | 91,490 | | | Intangible assets, net | | | 138,678 | | | Goodwill | | | 1,810,787 | | | Investment in and advances to equity affiliates | | | 3,642,607 | | | Total long-term assets | | | 6,877,679 | | | | | | | | | Liabilities: | | | | | | Accounts payable and accrued expenses | | | 1,600,294 | | | Contingent consideration payable | | | 945,000 | | | Short-term notes payable, net | | | 6,476,723 | | | | | $ | 9,022,017 | | The financial results of SG DevCorp are presented as income (loss) from discontinued operations. The following table represents the financial results of SG DevCorp: | | | Year Ended
December 31,
2024 | | | Operating Expenses: | | | | | Payroll and related expenses | | $ | 1,223,511 | | | General and administrative expenses | | | 295,664 | | | Marketing and business development expenses | | | 10,219 | | | Operating loss | | | (1,529,394 | ) | | Other income (expense) | | | (422,941 | ) | | Net loss | | $ | (1,952,335 | ) | The following table presents the aggregate carrying amounts of assets and liabilities of discontinued operations of SG DevCorp as of December 31, 2024: | Assets: | | | | | Cash | | $ | 3,236 | | | Assets held for sale | | | 4,400,361 | | | Prepaid expenses and other current assets | | | 231,989 | | | Total current assets | | | 4,635,586 | | | | | | | | | Property, plant and equipment, net | | | 1,194,224 | | | Project development costs and other non-current assets | | | 65,338 | | | Intangible assets, net | | | 22,210 | | | Investment in and advances to equity affiliates | | | 3,642,607 | | | Total long-term assets | | | 4,924,379 | | | | | | | | | Liabilities: | | | | | | Accounts payable and accrued expenses | | | 861,292 | | | Short-term notes payable, net | | | 6,810,897 | | | | | $ | 7,672,189 | |
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