| SCHEDULE OF PURCHASE PRICE ALLOCATION |
The
following summarizes the purchase price consideration and the preliminary purchase price allocation as of the acquisition date:
SCHEDULE
OF PURCHASE PRICE ALLOCATION
| | |
July 25, 2024 | |
| Purchase consideration: | |
| | |
| Common stock | |
$ | 3,221,245 | |
| Series X preferred stock | |
| 75,424,939 | |
| Total purchase consideration | |
$ | 78,646,184 | |
| | |
| | |
| Purchase price allocation: | |
| | |
| Cash | |
$ | 132,976 | |
| Operating lease right-of-use assets | |
| 61,578 | |
| Goodwill | |
| 21,372,960 | |
| Intangible assets - product technologies | |
| 76,400,000 | |
| Accounts payable | |
| (987,097 | ) |
| Accrued liabilities | |
| (1,198,134 | ) |
| Loan payable, related party | |
| (265,000 | ) |
| Lease liability | |
| (61,886 | ) |
| Development agreement liability | |
| (1,285,000 | ) |
| Long-term convertible notes | |
| (2,000,000 | ) |
| Deferred tax liability | |
| (13,524,213 | ) |
| Net assets acquired | |
$ | 78,646,184 | |
|