Annual report [Section 13 and 15(d), not S-K Item 405]

BUSINESS COMBINATIONS (Tables)

v3.26.1
BUSINESS COMBINATIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date:

 

    Purchase Price Allocation  
Purchase Consideration:        
Cash (net of cash acquired of $43)   $ 207  
Common stock consideration     1,151  
Earn-out liabilities     2,194  
         
Total Purchase Consideration   $ 3,552  
         
Less:        
Trade names   $ 162  
Customer relationships     6  
Developed technology     1,541  
Property and equipment     6  
Non-compete agreements     62  
Note payable-related party     (114 )
Net working capital     147  
         
Fair Value of Identified Net Assets   $ 1,810  
         
Remaining Goodwill Value   $ 1,742  

 

The components of net working capital are as follows:

 

    Purchase Price Allocation  
Current assets:        
Accounts receivable     176  
Inventory     119  
Other current assets     6  
         
Total current assets   $ 301  
         
Less current liabilities:        
Accounts payable   $ 123  
Accrued expenses     24  
Deferred revenue     7  
         
Total current liabilities   $ 154  
         
Net working capital   $ 147  

 
Envoy Technologies, Inc. [Member]  
Business Combination [Line Items]  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

    Purchase Price Allocation  
Purchase Consideration:        
Cash   $ 6,000  
Deferred cash consideration     6,782  
Common stock     18,118  
         
Total Purchase Consideration   $ 30,900  
         
Less:        
Trade name   $ 166  
Customer relationships     1,925  
Internally developed technology     175  
Non-compete agreements     11  
Property and equipment     1,802  
Other assets     52  
Notes payable- non current portion     (24 )
Lease liability- non current portion     (1,730 )
Debt-free net working capital deficit     (1,595 )
         
Fair Value of Identified Net Assets   $ 782  
         
Remaining Unidentified Goodwill Value   $ 30,118  

 The components of debt free net working capital deficit are as follows:

 

    Purchase Price Allocation  
Current assets:        
Cash   $ 19  
Accounts receivable     391  
Prepaid expenses and other current assets     254  
         
Total current assets   $ 664  
         
Less current liabilities:        
Accounts payable   $ 853  
Current portion of lease liability     591  
Current portion of notes payable     7  
Deferred revenue     229  
Accrued expenses and other current liabilities     579  
         
Total current liabilities   $ 2,259  
         
Net working capital deficit   $ (1,595 )
 
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS

 

    For the Year Ended
  
    December 31, 2023  
    (Unaudited)  
Revenues   $ 140,765  
Net loss   $ (204,949 )