v3.26.1
SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - USD ($)
May 13, 2026
May 01, 2026
Jun. 30, 2026
Dec. 31, 2025
FAIR VALUE OF LIABILITIES ASSUMED        
Goodwill recognized     $ 5,499,795 $ 570,000
Apex Marine [Member]        
FAIR VALUE OF ASSETS ACQUIRED        
Cash and cash equivalents   $ 60,338    
Inventory   15,214,097    
Prepaid expenses   165,770    
Other non-current assets   43,126    
Right-of-use assets   1,645,164    
Property, plant & equipment, net   262,708    
Amount attributable to assets acquired   17,391,203    
FAIR VALUE OF LIABILITIES ASSUMED        
Accrued liabilities   395,645    
Customer deposits   331,583    
Lease liabilities   1,754,409    
Floor plan notes payable   12,792,593    
Debt   48,052    
Amount attributable to liabilities assumed   15,322,282    
Net identifiable assets acquired   2,068,921    
Total consideration transferred $ 6,149,350 6,149,350    
Net identifiable assets acquired   2,068,921    
Goodwill recognized   $ 4,080,429 $ 4,080,429 [1] [1]
[1] On May 1, 2026, the Company completed the acquisition of 100% of the equity interests of Apex Marine, LLC, Apex Marine Sales, LLC, and Apex Marine Stuart, LLC (collectively, “Apex Marine”), a premier South Florida marine service, storage, and sales organization with four operating facilities. The total consideration transferred was approximately $6,149,350, consisting of (i) $1,200,000 in cash, (ii) 679,008 shares of the Company’s common stock valued at $1,833,333, (iii) two promissory notes with aggregate principal amounts of approximately $2,966,667, and (iv) reimbursement of a deposit of $149,350.