INTANGIBLE ASSETS (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Restructuring Cost and Reserve [Line Items] |
|
| SCHEDULE OF INTANGIBLE ASSET |
SCHEDULE
OF INTANGIBLE ASSET
| |
|
March 31, 2025 |
|
|
December 31, 2024 |
|
| Manna IP |
|
$ |
7,354,403 |
|
|
$ |
7,347,757 |
|
| In-process research and development |
|
|
284,831 |
|
|
|
284,573 |
|
| Trademark |
|
|
9,494 |
|
|
|
9,485 |
|
| Brand logo |
|
|
9,494 |
|
|
|
9,485 |
|
| Web domain |
|
|
9,494 |
|
|
|
9,485 |
|
| Customer list |
|
|
131,022 |
|
|
|
130,904 |
|
| Device firmware and software |
|
|
47,472 |
|
|
|
47,429 |
|
| RCS blueprints |
|
|
18,989 |
|
|
|
18,972 |
|
| Power Purchase Agreement |
|
|
597,055 |
|
|
|
625,736 |
|
| Total intangible assets |
|
|
8,462,254 |
|
|
|
8,483,826 |
|
| Less: Accumulated depreciation |
|
|
(309,034 |
) |
|
|
(176,136 |
) |
| Intangible assets, net |
|
$ |
8,153,220 |
|
|
$ |
8,307,690 |
|
|
| SCHEDULE OF INTANGIBLE ASSETS ACQUIRED FROM RCS |
The
following table summarizes the consideration transferred to acquire RCS and the amounts of identified assets acquired and liabilities
assumed at the acquisition date.
SCHEDULE
OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED
| |
|
|
|
|
| Note payable forgiven |
|
|
202,093 |
|
| Convertible debentures repaid on behalf of RCS |
|
|
153,986 |
|
| Common shares |
|
|
295,000 |
|
| Contingent consideration |
|
|
79,000 |
|
| Previously invested equity |
|
|
118,850 |
|
| Purchase price |
|
$ |
848,929 |
|
| |
|
August 16, 2024 |
|
| Purchase price |
|
|
848,929 |
|
| |
|
|
|
|
| Assets acquired |
|
|
|
|
| In-process research and development |
|
|
300,000 |
|
| Trademark |
|
|
10,000 |
|
| Brand logo |
|
|
10,000 |
|
| Web domain |
|
|
10,000 |
|
| Customer list |
|
|
138,000 |
|
| Device firmware and software |
|
|
50,000 |
|
| Blueprints |
|
|
20,000 |
|
| Intangible assets |
|
|
20,000 |
|
| Fair value of identified net assets acquired |
|
|
538,000 |
|
| Goodwill acquired on acquisition |
|
$ |
310,929 |
|
|
| SCHEDULE OF FUTURE AMORTIZATION EXPENSE |
The
estimated annual amortization expense for the next five years are as follows:
SCHEDULE
OF FUTURE AMORTIZATION EXPENSE
| Period ending: |
|
Amount |
|
| Remaining 2025 |
|
|
640,151 |
|
| 2026 |
|
|
830,411 |
|
| 2027 |
|
|
797,863 |
|
| 2028 |
|
|
616,145 |
|
| 2029 |
|
|
600,622 |
|
| Subsequent years |
|
|
4,668,028 |
|
| Total |
|
$ |
8,153,220 |
|
|
| Radical Clean Solutions Ltd [Member] |
|
| Restructuring Cost and Reserve [Line Items] |
|
| SCHEDULE OF INTANGIBLE ASSETS ACQUIRED FROM RCS |
The
Company acquired intangible assets from RCS as part of the business combination (Note 3). The following intangible assets were acquired
from RCS:
SCHEDULE
OF INTANGIBLE ASSETS ACQUIRED FROM RCS
| |
|
Weighted Average
Useful Life (Years)
|
|
|
|
| In-process research and development |
|
Term of the patent |
|
|
300,000 |
|
| Trademark |
|
10 |
|
|
10,000 |
|
| Brand logo |
|
10 |
|
|
10,000 |
|
| Web domain |
|
5 |
|
|
10,000 |
|
| Customer list |
|
5 |
|
|
138,000 |
|
| Device firmware and software |
|
5 |
|
|
50,000 |
|
| RCS blueprints |
|
5 |
|
|
20,000 |
|
| Identified
assets acquired and liabilities assumed intangibles |
|
|
|
$ |
538,000 |
|
|