INTANGIBLE ASSETS (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Restructuring Cost and Reserve [Line Items] |
|
| SCHEDULE OF INTANGIBLE ASSET |
SCHEDULE
OF INTANGIBLE ASSET
| |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
| Manna IP |
|
$ |
7,347,757 |
|
|
$ |
13,404,089 |
|
| In-process research and development |
|
|
284,573 |
|
|
|
- |
|
| Trademark |
|
|
9,485 |
|
|
|
- |
|
| Brand logo |
|
|
9,485 |
|
|
|
- |
|
| Web domain |
|
|
9,485 |
|
|
|
- |
|
| Customer list |
|
|
130,904 |
|
|
|
- |
|
| Device firmware and software |
|
|
47,429 |
|
|
|
- |
|
| RCS blueprints |
|
|
18,972 |
|
|
|
- |
|
| Power Purchase Agreement |
|
|
625,736 |
|
|
|
- |
|
| Total intangible assets |
|
|
8,483,826 |
|
|
|
13,404,089 |
|
| Less: Accumulated depreciation |
|
|
(176,136 |
) |
|
|
(670,204 |
) |
| Intangible assets, net |
|
$ |
8,307,690 |
|
|
$ |
12,733,885 |
|
|
| 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 all intangible assets held, for the next five years is as follows:
SCHEDULE
OF FUTURE AMORTIZATION EXPENSE
| Period ending: |
|
Amount |
|
| 2025 |
|
$ |
855,026 |
|
| 2026 |
|
|
829,661 |
|
| 2027 |
|
|
797,143 |
|
| 2028 |
|
|
615,589 |
|
| 2029 |
|
|
600,080 |
|
| Subsequent years |
|
|
4,610,191 |
|
| Total |
|
$ |
8,307,690 |
|
|
| 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 4). 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 |
|
|