EXHIBIT 99.1
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| December 31, |
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| Pro |
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| 2023 |
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| Adjustments |
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| Forma |
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ASSETS |
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Current assets: |
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Cash |
| $ | 1,008,408 |
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| 1,008,408 |
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Accounts receivable, |
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| 405,786 |
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| 405,786 |
| |
Prepaid expenses and other current assets |
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| 198,026 |
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| 198,026 |
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Current assets from discontinued operations |
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| - |
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|
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|
|
| - |
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Investment in Marketable Securities |
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| 380,744 |
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| 380,744 |
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Total current assets |
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| 1,992,964 |
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|
| - |
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| 1,992,964 |
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Property and equipment, net of accumulated depreciation of $35,519 and $17,210, respectively |
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| 36,311 |
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|
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|
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| 36,311 |
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Intangible assets, net |
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| 1,342,787 |
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|
|
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|
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| 1,342,787 |
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Goodwill |
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| 7,101,084 |
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| 7,101,084 |
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Total assets |
| $ | 10,473,146 |
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|
| - |
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| 10,473,146 |
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LIABILITIES AND MEMBERS'/STOCKHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
| $ | 1,534,464 |
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| 1,534,464 |
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Accrued expenses |
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| 804,609 |
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|
|
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|
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| 804,609 |
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Accrued compensation |
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| 154,764 |
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|
|
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|
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| 154,764 |
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Accrued interest |
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| 309,309 |
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| (100,000 | ) |
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| 209,309 |
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Deferred payroll taxes |
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| 2,484 |
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|
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| 2,484 |
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Other liabilities |
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| 17,333 |
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|
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| 17,333 |
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Contingent consideration for acquisitions |
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| - |
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|
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| - |
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Loans payable - current portion, net of discount |
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| 5,115,975 |
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| (1,611,111 | ) |
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| 3,504,864 |
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Refundable deposit on preferred stock purchase |
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| 285,000 |
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|
|
|
|
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| 285,000 |
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Warrant liability |
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| 1,200,000 |
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|
|
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|
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| 1,200,000 |
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Deferred revenue |
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| 149,848 |
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|
|
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|
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| 149,848 |
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Current liabilities associated with discontinued operations |
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| - |
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| - |
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Total current liabilities |
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| 9,573,786 |
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| (1,711,111 | ) |
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| 7,862,675 |
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Loans payable - long term portion |
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| - |
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|
| - |
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Total liabilities |
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| 9,573,786 |
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| (1,711,111 | ) |
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| 7,862,675 |
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Commitments and contingencies (Note 9) |
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Members'/Stockholders' Equity |
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Preferred stock, Series D, $0.0001 par value; 2,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively |
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| - |
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|
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| - |
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Preferred stock, Series E, $0.0001 par value; 775,000 shares authorized; 86,000 shares issued and outstanding as of December 31, 2023 and 2022, respectively |
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| 9 |
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| 9 |
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Preferred stock, Series F, $0.0001 par value; 200,000 shares authorized; 0 shares issued and outstanding as of December 31, 2023 and 2022, respectively |
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| - |
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| - |
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Preferred stock, Series G, $0.0001 par value; 200,000 shares authorized; 0 shares issued and outstanding as of December 31, 2023 and 2022, respectively |
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|
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| - |
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Common stock, $0.0001 par value; 6,666,667 shares authorized; 1,433,903 and 1,085,184 shares issued and outstanding as of December 31, 2023 and 2022, respectively |
|
| 143 |
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|
| 36 |
|
|
| 179 |
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Shares to be issued, 0 and 587,945 shares as of December 31, 2023 and 2022, respectively |
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| - |
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|
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|
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| - |
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Additional paid-in capital |
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| 77,066,256 |
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|
| 1,711,075 |
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| 78,777,331 |
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Accumulated deficit |
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| (76,167,048 | ) |
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| (76,167,048 | ) |
Total members'/stockholders' deficit |
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| 899,360 |
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|
| 1,711,111 |
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|
| 2,610,471 |
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Total liabilities and members'/stockholders' deficit |
| $ | 10,473,146 |
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|
| - |
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| 10,473,146 |
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