v3.26.1
BUSINESS COMBINATION (Tables)
 6 Months Ended
Jun. 30, 2026
BUSINESS COMBINATION  
Consideration transferred

Cash

 

$600,000

 

Seller convertible note, at present value

 

 

379,694

 

Common stock

 

 

1,630,000

 

Total consideration transferred

 

$2,609,694

 
Assumption of fair value of assets acquired and liabilities assumed

 

 

Amount

 

Identifiable assets acquired:

 

 

 

Cash

 

$25,146

 

Accounts receivable, net

 

 

354,252

 

Due from related parties

 

 

354,996

 

Prepaid expenses and other current assets

 

 

25,788

 

Property and equipment, net

 

 

204,685

 

Right of use asset

 

 

213,125

 

Other non-current assets

 

 

63,101

 

Identifiable intangible assets

 

 

200,000

 

Total identifiable assets acquired

 

 

1,441,093

 

 

 

 

 

 

Liabilities assumed:

 

 

 

 

Accounts payable and accrued expenses

 

 

(122,257)

Loans payable

 

 

(741,054)

Right of use liability

 

 

(200,075)

Retirement benefit obligation

 

 

(301,266)

Deferred tax liability on intangibles (25%)

 

 

(50,000)

Total liabilities assumed

 

 

(1,414,652)

 

 

 

 

 

Net identifiable assets acquired

 

 

26,441

 

Goodwill

 

 

2,583,253

 

Total consideration transferred

 

$2,609,694

 
Unaudited pro forma information

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2026

 

 

2025

 

Revenues as reported

 

$1,110,112

 

 

$-

 

Flipside AI pre-acquisition revenue

 

 

685,386

 

 

 

1,160,617

 

Pro forma revenues

 

 

1,795,498

 

 

 

1,160,617

 

 

 

 

 

 

 

 

 

 

Net loss as reported

 

 

(557,687)

 

 

(242,317)

Flipside AI pre-acquisition net income

 

 

34,021

 

 

 

(78,026)

Amortization of acquired intangible assets

 

 

(8,714)

 

 

(17,428)

Accretion of seller note discount

 

 

(8,543)

 

 

(17,086)

Pro forma net loss

 

$(540,923)

 

$(354,857)