Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Apr. 17, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K/A | ||
Amendment Flag | true | ||
Amendment Description | DSG Global Inc. is filing this Amendment No. 1 on Form 10-K/A to amend the Annual Report on Form 10-K for the fiscal year ended December 31, 2022, originally filed with the Securities Exchange Commission (the “SEC”) by the Company on April 18, 2023 (the “Original Form 10-K”), because the Original Form 10-K that was filed was not the version that had been approved by our independent auditors, and was a prior version that had been sent by Management to the Company’s Edgar and XBRL filing service. | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-53988 | ||
Entity Registrant Name | DSG GLOBAL INC. | ||
Entity Central Index Key | 0001413909 | ||
Entity Tax Identification Number | 26-1134956 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 207 - 15272 Croydon Drive | ||
Entity Address, Address Line Two | Surrey | ||
Entity Address, City or Town | British Columbia | ||
Entity Address, Country | CA | ||
Entity Address, Postal Zip Code | V3Z 0Z5 | ||
City Area Code | (604) | ||
Local Phone Number | 575-3848 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 10,011,073 | ||
Entity Common Stock, Shares Outstanding | 145,429,993 | ||
ICFR Auditor Attestation Flag | false | ||
Auditor Firm ID | 5041 | ||
Auditor Name | BF Borgers CPA PC | ||
Auditor Location | Lakewood, CO |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash | $ 53,779 | $ 275,383 |
Trade receivables | 711,028 | 239,822 |
Lease receivable | 3,627 | 87,020 |
Inventories | 1,204,577 | 712,678 |
Prepaid expenses and deposits | 189,884 | 385,323 |
TOTAL CURRENT ASSETS | 2,162,895 | 1,700,226 |
Lease receivable | 15,918 | 723,216 |
Fixed assets, net | 25,546 | 35,314 |
Equipment on lease, net | 29,561 | 141,880 |
Intangible assets, net | 10,376 | 11,604 |
TOTAL ASSETS | 2,244,296 | 2,612,240 |
CURRENT LIABILITIES | ||
Trade and other payables | 3,356,256 | 1,202,598 |
Deferred revenue | 481,474 | 255,984 |
Lease liability | 35,670 | 121,270 |
Loans payable | 2,416,692 | 2,115,049 |
Convertible notes payable | 2,719,514 | 319,488 |
TOTAL CURRENT LIABILITIES | 9,009,606 | 4,014,389 |
Lease liability | 4,982 | 38,696 |
Loans payable | 150,000 | 212,898 |
TOTAL LIABILITIES | 9,164,588 | 4,265,983 |
MEZZANINE EQUITY | ||
Redeemable preferred stock, $0.001 par value, 24,010,000 shares authorized (2021 – 24,010,000), 52,023 issued and outstanding, 860 to be issued (2021 – 50,804 issued and outstanding, 1,206 to be issued | 2,635,345 | 3,143,402 |
STOCKHOLDERS’ DEFICIT | ||
Preferred stock, $0.001 par value, 3,010,000 shares authorized (2021 – 3,010,000), 200,780 issued and outstanding (2021 - 200,454 issued and outstanding) | 3,087,180 | 1,199,480 |
Common stock, $0.001 par value, 350,000,000 shares authorized, (2021 – 350,000,000); 145,429,993 issued and outstanding (2021 – 128,345,183 issued and outstanding) | 145,435 | 128,350 |
Additional paid in capital, common stock | 50,916,150 | 50,068,418 |
Discounts on common stock | (69,838) | (69,838) |
Common stock to be issued | 19,647 | |
Obligation to issue warrants | 261,934 | 261,934 |
Other accumulated comprehensive income | 1,345,588 | 1,289,559 |
Accumulated deficit | (65,242,086) | (57,694,695) |
TOTAL STOCKHOLDERS’ DEFICIT | (9,555,637) | (4,797,145) |
TOTAL LIABILITIES MEZZANINE EQUITY AND STOCKHOLDERS’ DEFICIT | $ 2,244,296 | $ 2,612,240 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Redeemable preferred stock, par value | $ 0.001 | $ 0.001 |
Redeemable preferred stock, shares authorized | 24,010,000 | 24,010,000 |
Redeemable preferred stock, shares issued | 52,023 | 50,804 |
Redeemable preferred stock, shares outstanding | 52,023 | 50,804 |
Redeemable preferred stock, shares to be issued | 860 | 1,206 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 3,010,000 | 3,010,000 |
Preferred stock, shares issued | 200,780 | 200,454 |
Preferred stock, shares outstanding | 200,780 | 200,454 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 350,000,000 | 350,000,000 |
Common stock, shares issued | 145,429,993 | 128,345,183 |
Common stock, shares outstanding | 145,429,993 | 128,345,183 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Statement [Abstract] | ||
Revenue | $ 3,833,853 | $ 2,092,819 |
Cost of revenue | 2,082,968 | 1,110,698 |
Gross profit | 1,750,885 | 982,121 |
Operating expenses | ||
Compensation expense | 3,534,816 | 3,017,181 |
General and administration expense | 3,429,075 | 3,467,995 |
Research and development | 52,344 | 388,035 |
Bad debt expense (recovery) | (29,389) | 49,586 |
Depreciation and amortization expense | 13,670 | 12,837 |
Total operating expense | 7,000,516 | 6,935,634 |
Loss from operations | (5,249,631) | (5,953,513) |
Other income (expense) | ||
Foreign currency exchange | (28,241) | (59,793) |
Other (expense) income | 13,584 | |
Loss on sale of lease receivable | (3,923) | |
(Loss) Gain on extinguishment of debt | 40,355 | 35,169 |
Gain on disposal | 3,960 | |
Interest on preferred shares | (3,062) | |
Finance costs | (2,306,849) | (420,102) |
Total other income (expense) | (2,297,760) | (431,142) |
Net loss | $ (7,547,391) | $ (6,384,655) |
Net loss per share | ||
Basic and diluted | $ (0.06) | $ (0.06) |
Weighted average number of shares used in computing basic and diluted net loss per share: | ||
Basic and diluted | 136,607,605 | 114,897,055 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Statement [Abstract] | ||
Net loss | $ (7,547,391) | $ (6,384,655) |
Other comprehensive income (loss) | ||
Foreign currency translation adjustments | 56,029 | 37,477 |
Comprehensive loss | $ (7,491,362) | $ (6,347,178) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Discount On Common Stock [Member] | Common Stock To Be Issued [Member] | Obligation To Issue Warrants [Member] | Preferred Stock [Member] | Preferred Stock Additional Paid In Capital [Member] | Preferred Stock Equity To Be Issued [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance, value at Dec. 31, 2020 | $ 94,018 | $ 43,299,937 | $ (69,838) | $ 1,436,044 | $ 163,998 | $ 200 | $ 744,480 | $ 1,340,000 | $ 1,252,082 | $ (51,310,040) | $ (3,049,119) |
Balance, shares at Dec. 31, 2020 | 95,765,736 | 200,508 | |||||||||
Shares issued for debt settlement | $ 8,854 | 1,618,425 | (1,436,044) | 191,235 | |||||||
Shares issued for debt settlement, shares | 8,968,975 | ||||||||||
Shares and warrants issued for services | $ 2,430 | 1,805,704 | 19,647 | 97,936 | 1,925,717 | ||||||
Shares and warrants issued for services, shares | 2,430,000 | ||||||||||
Cancellation of shares due to duplicate issuance | |||||||||||
Cancellation of shares due to duplicate issuance, shares | (1,866,288) | (45) | |||||||||
Preferred shares issued for services | 2,189,600 | (1,340,000) | 849,600 | ||||||||
Preferred shares issued for services, shares | 116 | ||||||||||
Shares issued on conversion of preferred shares | $ 23,048 | 3,799,852 | (1,734,800) | 2,088,100 | |||||||
Shares issued on conversion of preferred shares, shares | 23,046,760 | (125) | |||||||||
Dividends to be settled with preferred shares | (455,500) | (455,500) | |||||||||
Net loss for the period | 37,477 | (6,384,655) | (6,347,178) | ||||||||
Balance, value at Dec. 31, 2021 | $ 128,350 | 50,068,418 | (69,838) | 19,647 | 261,934 | $ 200 | 1,199,280 | 1,289,559 | (57,694,695) | (4,797,145) | |
Balance, shares at Dec. 31, 2021 | 128,345,183 | 200,454 | |||||||||
Shares and warrants issued for services | $ 1,160 | 105,600 | (19,647) | 1,887,700 | 1,974,813 | ||||||
Shares and warrants issued for services, shares | 1,160,000 | 326 | |||||||||
Shares issued on conversion of preferred shares | $ 15,925 | 286,632 | 302,557 | ||||||||
Shares issued on conversion of preferred shares, shares | 15,924,810 | ||||||||||
Net loss for the period | 56,029 | (7,547,391) | (7,491,362) | ||||||||
Dividends | 455,500 | 455,500 | |||||||||
Balance, value at Dec. 31, 2022 | $ 145,435 | $ 50,916,150 | $ (69,838) | $ 261,934 | $ 200 | $ 3,086,980 | $ 1,345,588 | $ (65,242,086) | $ (9,555,637) | ||
Balance, shares at Dec. 31, 2022 | 145,429,993 | 200,780 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Cash Flows [Abstract] | ||
Net loss | $ (7,547,391) | $ (6,384,655) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 13,670 | 130,059 |
Change in ROU assets | 161,804 | 27,360 |
Accretion of discounts on debt | 315,065 | 187,435 |
Bad debt expense (recovery) | (29,389) | 49,586 |
Loss on sale of lease receivable | 3,923 | |
Preferred shares issued for services | 1,887,700 | 849,600 |
Common shares and warrants issued for services | 97,353 | 1,644,136 |
Obligation to issue warrants | 19,647 | |
(Gain) loss on extinguishment of debt | (40,355) | (35,169) |
Unrealized foreign exchange gain | (2,304) | (1,857) |
Gain on asset disposal | (3,960) | |
Changes in non-cash working capital: | ||
Trade receivables, net | (499,031) | (259,437) |
Inventories | (491,899) | (457,817) |
Prepaid expense and deposits | 195,439 | (259,909) |
Lease receivable | (19,545) | (763,592) |
Trade payables and accruals | 2,277,657 | (362,792) |
Deferred revenue | 225,490 | 155,508 |
Interest on mandatorily redeemable preferred shares | 3,062 | |
Lease liabilities | (169,371) | (151,671) |
Net cash used in operating activities | (3,622,082) | (5,613,568) |
Cash flows from investing activities | ||
Purchase of equipment | (8,892) | (26,541) |
Disposal of property and equipment | 10,225 | |
Net cash used in investing activities | 1,333 | (26,541) |
Cash flows from financing activities | ||
Proceeds from issuing preferred shares, and shares to be issued | 1,000,000 | 2,536,066 |
Proceeds on warrants issued | 261,934 | |
Repayment on lease liabilities | (4,704) | |
Proceeds from sale of lease receivable | 863,527 | |
Proceeds from loans payable | 1,500,000 | 1,897,500 |
Payments on loans payable | (20,411) | (193,889) |
Net cash provided by financing activities | 3,343,116 | 4,496,907 |
Effect of exchange rate changes on cash | 56,029 | 46,568 |
Net increase in cash | (221,604) | (1,096,633) |
Cash at beginning of year | 275,383 | 1,372,016 |
Cash at the end of the year | $ 53,779 | $ 275,383 |
ORGANIZATION
ORGANIZATION | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION | Note 1 – ORGANIZATION DSG Global, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on September 24, 2007. The Company is a technology development company engaged in the design, manufacture, and marketing of fleet management solutions in the golf industry. The Company’s principal activities are the sale and rental of GPS tracking devices and interfaces for golf vehicles and related support services. Starting during the year ended December 31, 2021, the Company began to market low speed electric vehicles, and e-bikes, recognizing its first sales in this space. See Note 16 for segmented reporting. The Company continued the homologation project for electric vehicles . On August 12, 2021, the Company incorporated Imperium Motor of Canada Corporation (“Imperium Canada”), under the laws of British Columbia, Canada, for which it subscribed to all authorized capital stock, 100 0.10 On September 17, 2021, the Company incorporated AC Golf Carts Inc. (“AC Golf Carts”), under the laws of the Sate of Nevada, for which it subscribed to all authorized stock, 100 0.001 Subsequent to year end, on January 5, 2023, Imperium Motor Corp. had its name changed to Liteborne Motor Corporation. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 2 – GOING CONCERN These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders and note holders, the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. The outbreak of the coronavirus, also known as “COVID-19”, spread across the globe and has impacted worldwide economic activity. During the year ended December 31, 2022, conditions surrounding the coronavirus continued to rapidly evolve and government authorities implemented emergency measures to mitigate the spread of the virus. The outbreak and the related mitigation measures may have an adverse impact on global economic conditions as well as on the Company’s business activities going forward. The extent to which the coronavirus may impact the Company’s business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. These events are highly uncertain and as such, the Company cannot determine their financial impact at this time. While certain restrictions are presently in the process of being relaxed, it is unclear when the world will return to the previous normal, if ever. This may adversely impact the expected implementation of the Company’s plans moving forward. As at December 31, 2022, the Company has a working capital deficit of $ 6,846,711 65,242,086 7,547,391 3,622,082 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain comparative information has been reclassified to conform with the financial statement presentation adopted in the current year. Principles of Consolidation The consolidated financial statements include the accounts of DSG Global Inc. and its subsidiary VTS and its wholly owned subsidiaries DSG UK, Imperium Canada, Imperium, AC Golf Carts, and Liteborne collectively referred to as the “Company”. All intercompany accounts, transactions and profits were eliminated in the consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to revenue recognition, the collectability of accounts receivable, valuation of inventory, useful lives and recoverability of long-lived assets, fair value derivative liabilities, the Company’s incremental borrowing rate, leases and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from those estimates. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined. The Company’s policy for equipment requires judgment in determining whether the present value of future expected economic benefits exceeds capitalized costs. The policy requires management to make certain estimates and assumptions about future economic benefits related to its operations. Estimates and assumptions may change if new information becomes available. If information becomes available suggesting that the recovery of capitalized cost is unlikely, the capitalized cost is written off to the consolidated statement of operations. The assessment of whether the going concern assumption is appropriate requires management to take into account all available information about the future, which is at least, but is not limited to, 12 months from the date the financial statements are issued. The Company is aware that material uncertainties related to events or conditions may cast substantial doubt upon the Company’s ability to continue as a going concern. Foreign Currency Translation The Company’s functional and reporting currency is the U.S. dollar. The functional currency of VTS is the Canadian dollar. The functional currency of DSG UK is the British pound. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets, liabilities, and items recorded in income arising from transactions denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. The accounts of VTS and DSG UK are translated to U.S. dollars using the current rate method. Accordingly, assets and liabilities are translated into U.S. dollars at the period-end exchange rate while revenues and expenses are translated at the average exchange rates during the period. Related exchange gains and losses are included in a separate component of stockholders’ equity as accumulated other comprehensive income (loss). Reportable Segments The Company has four reportable segments: GPS Devices, those related to its sales and rentals of GPS tracking devices and interfaces for golf vehicles and related support services; Golf Vehicles, the sale of golf vehicles; Electric Vehicles, the sale of electric vehicles, including e-bikes; and Administration, those expenses related to the overall operations of the Company not associated with a specific revenue segment. The Company’s activities are interrelated, and each activity is dependent upon and supportive of the other. Accordingly, all significant operating decisions are based on analysis of financial products provided as a single global business. Revenue Recognition and Warranty Reserve Revenue from Contracts with Customers The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. In instances where final acceptance of the product is specified by the customer, revenue is deferred until all acceptance criteria have been met. Revenues are recognized under Topic 606 ● executed contracts with the Company’s customers that it believes are legally enforceable; ● identification of performance obligations in the respective contract; ● determination of the transaction price for each performance obligation in the respective contract; ● allocation the transaction price to each performance obligation; and ● recognition of revenue only when the Company satisfies each performance obligation. Performance Obligations and Signification Judgments The Company’s revenue streams can be categorized into the following performance obligations and recognition patterns: 1. Sale, delivery and installation of Tag, Text and Infinity products, along with digital mapping and customer training. The Company recognizes revenue at a point in time when final sign-off on the installation is obtained from the General Manager and/or Director of Golf. 2. Provision of internet connectivity, regular software updates, software maintenance and basic customer support service. The Company recognizes revenue over time, evenly over the term of the service. 3. Sale and delivery of Fairway Rider (golf carts) products. The Company recognizes revenue at a point in time when control transfers to the customer. 4. Sale and delivery of Electric Vehicles. The Company recognizes revenue at a point in time when control transfers to the customer. Transaction prices for performance obligations are explicitly outlined in relevant agreements, therefore, the Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. Warranty Reserve The Company accrues for warranty costs, sales returns, and other allowances based on its historical experience. The Company matches its warranty period for parts and products to that of the manufacturer’s warranty period. Therefore, any defect will result in a warranty claim to the manufacturer and not the Company. During the years ended December 31, 2022 and 2021, the Company did not provide a warranty for any of its products sold during those periods. The warranty reserve was $ Nil Research and Development Research and development expenses include payroll, employee benefits, and other headcount-related expenses associated with product development. Research and development expenses also include third-party development and programming costs, localization costs incurred to translate software for international markets, and the amortization of purchased software code and services content. Such costs related to software development are included in research and development expense until the point that technological feasibility is reached. Research and development is expensed and is included in operating expenses. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred income tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred income tax assets to the amount that is believed more likely than not to be realized. As of December 31, 2022 and 2021, the Company did not have any amounts recorded pertaining to uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense. The Company did not incur any penalties or interest during the years ended December 31, 2022 and 2021. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“the Tax Act”) which significantly changed U.S. tax law. The Tax Act lowered the Company’s statutory federal income tax rate from a maximum of 39% to a rate of 21 Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, and trade receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base, most of which are in Canada, United States and the United Kingdom. The Company controls credit risk related to trade receivables through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history, foreign currency exchange rates and the volatility of public markets. Contingencies Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed. Cash and Cash Equivalents Cash and equivalents include cash in hand and cash in demand deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. At December 31, 2022 and 2021, there were no uninsured balances for accounts in Canada, the United States and the United Kingdom. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. At December 31, 2022 and 2021, the Company did not hold any cash equivalents. Accounts Receivable All accounts receivable under standard terms are due thirty (30) days from the date billed. If the funds are not received within thirty (30) days, the customer is contacted to arrange payment. Currently, the Company does not provide for an allowance for uncollectable accounts receivable due to its history of not having any collectability issues from customers. Financing Receivables and Guarantees The Company provides financing arrangements, including operating leases and financed service contracts for certain qualified customers. Lease receivables primarily represent sales-type and direct-financing leases. Leases typically have two- to three-year terms and are collateralized by a security interest in the underlying assets. The Company makes an allowance for uncollectible financing receivables based on a variety of factors, including the risk rating of the portfolio, macroeconomic conditions, historical experience, and other market factors. At December 31, 2022 and 2021 management determined that there was no allowance necessary. The Company also provides financing guarantees, which are generally for various third-party financing arrangements to channel partners and other customers. The Company could be called upon to make payment under these guarantees in the event of non-payment to the third party. As at December 31, 2022 and 2021, no financing receivables are outstanding. Advertising Costs The Company expenses all advertising costs as incurred. Advertising and marketing costs were $ 286,717 134,856 Inventory Inventories are valued at the lower of cost or net realizable value. Cost is determined using the first-in-first-out basis for finished goods. Net realizable value is determined on the basis of anticipated sales proceeds less the estimated selling expenses. Management compares the cost of inventories with the net realizable value and an adjustment is made to write down inventories to net realizable value, if lower. Fixed Assets and Equipment on Lease Fixed assets and equipment on lease are stated at cost less accumulated depreciation. Fixed assets and equipment on lease are depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. The estimated useful lives of fixed assets are generally as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF EQUIPMENT Furniture and equipment 5-years Vehicles 5-years Computer equipment 3-years Machinery 5-years Equipment on lease 5-years Intangible Assets Intangible assets are stated at cost less accumulated amortization and are comprised of patents. The patents are amortized straight-line over the estimated useful life of 20 Impairment of Long-Lived Assets The Company reviews long-lived assets such as equipment, equipment on lease, and intangible assets with finite useful lives for impairment whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. If the total of the expected undiscounted future cash flows is less than the carrying value of the asset, a loss is recognized for the excess of the carrying amount over the fair value of the asset. Financial Instruments and Fair Value Measurements The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “ Distinguishing Liabilities from Equity Derivatives and Hedging ASC 820, “ Fair Value Measurements and Disclosures Financial Instruments Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist of cash, trade receivables, trade and other payables, lease liabilities, convertible note payable to related party, loans payable, derivative liabilities and convertible notes payable. Except for cash, loans payable, and derivative liabilities, the Company’s financial instruments’ carrying amounts, excluding any unamortized discounts, approximate their fair values due to their short term to maturity. The fair value of long-term lease liabilities approximates their carrying value due to minimal changes in interest rates and the Company’s credit risk since initial recognition. Cash and derivative liabilities are measured and recognized at fair value based on level 1 and level 2 inputs, respectively, for all periods presented. Government Grants Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income over the period necessary to match the grant on a systematic basis to the costs that it is intended to compensate. The Canadian Emergency Business Account (“CEBA”) are recognized as government grants. See Note 8 (a) and (b). Loss per Share The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statement of operations. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. Stock-Based Compensation The Company records stock-based compensation in accordance with ASC 718, “Compensation – Stock Compensation”, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. During the years ended December 31, 2022, and 2021 there was no stock-based compensation. Leases The Company accounts for leases in accordance with ASC 842 “Leases”. Lessee Arrangements The Company determines if an arrangement is a lease at inception. Operating and financing right-of-use assets and lease liabilities are included within fixed assets on the consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the information available at the commencement date, in determining the present value of future lease payments. Right-of-use assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation of the right-of-use asset. The lease terms may include options to extend or terminate the lease if it is reasonably certain the Company will exercise that option. Lessor Arrangements The Company determines if an arrangement is a lease at inception. The Company then determines whether to classify the lease as a sales-type or direct financing lease. At commencement date, a lessor shall derecognize the underlying asset and recognize the net investment in the lease, selling profit or loss arising from the lease, and initial direct directs as an expense if the fair value of the underlying asset is different from it carrying amount. The lease receivable (or net investment in the lease) is included on the consolidated balance sheets. The lease receivable amount is recognized based on the present value of lease payments over the lease term and the present value of the unguaranteed residual asset, except when the lease is a direct financing lease, whereby the net investment in the lease should be reduced by the amount of any selling profit. The unguaranteed residual asset is the amount the lessor expects to derive from the underlying asset following the end of the lease term. The Company uses the rate implicit in the lease agreement at the date of commencement, in determining the present value of the future lease payments and unguaranteed residual asset. Interest income is recognized over the term of the lease and lease payments are recognized against the lease receivable balance when received. Currently, the Company only has sales-type operating leases. Recently Issued Accounting Pronouncements Applicable for fiscal years beginning after December 15, 2022: In July 2022, FASB issued ASU 2022-03, Fair Value Measurement (Topic 820); Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In October 3, 2022, FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. |
TRADE RECEIVABLES
TRADE RECEIVABLES | 12 Months Ended |
Dec. 31, 2022 | |
Receivables [Abstract] | |
TRADE RECEIVABLES | Note 4 – TRADE RECEIVABLES As of December 31, 2022 and 2021, trade receivables consist of the following: SCHEDULE OF TRADE RECEIVABLES December 31, 2022 December 31, 2021 Accounts receivables $ 711,028 $ 271,950 Allowance for doubtful accounts - (32,128 ) Total trade receivables, net $ 711,028 $ 239,822 |
INVENTORIES
INVENTORIES | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | Note 5 – INVENTORIES As of December 31, 2022, and December 31, 2021, inventories consist of the following: SCHEDULE OF INVENTORIES December 31, 2022 December 31, 2021 Parts and accessories $ 217,582 $ 226,230 Golf carts 799,035 158,588 E-bikes 123,280 35,060 Electric vehicles 64,680 292,800 Total inventories $ 1,204,577 $ 712,678 |
FIXED ASSETS AND EQUIPMENT ON L
FIXED ASSETS AND EQUIPMENT ON LEASE | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS AND EQUIPMENT ON LEASE | Note 6 – FIXED ASSETS AND EQUIPMENT ON LEASE As of December 31, 2022 and 2021, fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS December 31, 2022 December 31, 2021 Machinery $ 5,040 $ 5,040 Furniture and equipment 2,587 2,350 Computer equipment 50,781 41,784 Vehicles 19,989 28,360 Fixed assets, gross 19,989 28,360 Accumulated depreciation (52,851 ) (42,220 ) Fixed assets, net $ 25,546 $ 35,314 For the year ended December 31, 2022, total depreciation expense for fixed assets and equipment on lease was $ 12,442 12,225 111,465 117,386 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | Note 7 – INTANGIBLE ASSETS As of December 31, 2022 and 2021, intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS December 31, 2022 December 31, 2021 Intangible asset - Patents $ 22,353 $ 22,353 Accumulated amortization (11,977 ) (10,749 ) Intangible asset, net $ 10,376 $ 11,604 Patents are amortized on a straight-line basis over their estimated useful life of 20 1,228 1,229 |
TRADE AND OTHER PAYABLES
TRADE AND OTHER PAYABLES | 12 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
TRADE AND OTHER PAYABLES | Note 8 – TRADE AND OTHER PAYABLES As of December 31, 2022, and 2021, trade and other payables consist of the following: SCHEDULE OF TRADE AND OTHER PAYABLES December 31, 2022 December 31, 2021 Accounts payable and accrued expenses $ 1,462,557 $ 949,937 Accrued interest 1,880,463 248,610 Other liabilities 13,236 4,051 Total trade and other payables $ 3,356,256 $ 1,202,598 |
LOANS PAYABLE
LOANS PAYABLE | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
LOANS PAYABLE | Note 9 – LOANS PAYABLE As of December 31, 2022 and 2021, loans payable consisted of the following: SCHEDULE OF LOANS PAYABLE December 31, 2022 December 31, 2021 Unsecured loan payable in the amount of CDN$ 40,000 December 31, 2025 (a) $ 29,520 31,449 Unsecured loan payable in the amount of CDN$ 40,000 December 31, 2025 (b) 29,520 31,449 Unsecured loan payable, due on May 21, 2022 1 (c) - 30,115 Secured loan payable, due on June 5, 2050 3.75 (d) 150,000 150,000 Unsecured loan payable, due on June 20, 2022 9 (e) - 2,084,934 Unsecured loan payable, due on December 1, 2025 10 (f) 1,000,000 - Preferred F series shares issued with mandatory redemption (g) 1,357,651 - 2,566,692 2,327,947 Current portion (2,416,692 ) (2,115,049 ) Loans payable, long-term portion $ 150,000 $ 212,898 (a) On April 17, 2020, the Company received a loan in the principal amount of $ 29,520 40,000 10,000 5 December 31, 2025 (b) On April 21, 2020, the Company received a loan in the principal amount of $ 29,520 40,000 10,000 5 (c) On May 21, 2020, the Company received a loan in the principal amount of $ 30,115 1 May 21, 2022 (d) On June 5, 2020, the Company received a loan in the principal amount of $ 150,000 3.75 June 5, 2050 731 (e) On September 13, 2021, the Company entered into a securities purchase agreement with a non-related party. Pursuant to the agreement, the Company received cash proceeds of $ 2,000,000 on September 13, 2021, in exchange for the issuance of an unsecured promissory note in the principal amount of $ 2,400,000 , which was inclusive of a $ 400,000 original issue discount and bears interest at 9 % per annum to the holder and matures June 20, 2022 . If the note is not paid in full before December 12, 2021, an additional $100,000 of guaranteed interest will be added to the note. An additional $100,000 of guaranteed interest will be added to the note on the 12 th . Any principal or interest on the note that is not paid when due or during any period of default bears interest at 24 In the event of a default, the note is convertible at the price that is equal to a 40% discount to the lowest trading price of the Company’s common shares during the 30-day trading period prior to the conversion date. During the year ended December 31, 2022, the Company recorded $ 1,918,065 1,603,000 2,400,000 2,084,935 As the note is in default, it has become convertible at the holder’s request. The fair value of the loan approximates carrying value as it is now short term in nature, effectively due on demand. (f) On December 1, 2022, the Company received a loan in the principal amount of $ 1,000,000 . The loan bears interest at 10 % per annum and is due on December 1, 2025. If not repaid by December 31, 2025, the loan bears interest at 18 % per annum. (g) On February 17, 2022, the Company entered into a Waiver of Conditions (the “Waiver”) to the Share Purchase Agreement (the “SPA”) dated December 13, 2021. The Company has received five payments in the amount of $ 250,000 250,000 90,000 250,000 125,000 125,000 285,000 1,375 20 500 1,375,000 15 75,000 20 3,062 During the year ended December 31, 2022, the Company made required payments in the amount of $ 20,411 |
CONVERTIBLE LOANS
CONVERTIBLE LOANS | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE LOANS | Note 10 – CONVERTIBLE LOANS As of December 31, 2022, and 2021, convertible loans payable consisted of the following: Third Party Convertible Notes Payable (a) On March 31, 2015, the Company issued a convertible promissory note in the principal amount of $ 310,000 5 1.25 310,000 310,000 (b) On June 5, 2017, the Company issued a convertible promissory note in the principal amount of $ 110,000 9,488 9,439 (c) As per Note 9 (e) above, the $ 2,400,000 |
LEASES
LEASES | 12 Months Ended |
Dec. 31, 2022 | |
Leases | |
LEASES | Note 11 – LEASES Lessor During the year ended December 31, 2020, the Company began financing the lease of certain assets under rental revenue contracts with its customers and accounts for them in accordance with ASC 842 as outlined under “Leases” in Note 3 of the consolidated financial statements for the year ended December 31, 2020. During the year ended December 31, 2022, the Company recognized new lease receivables of $ 143,630 nil 817,619 120,231 12,240 492,096 867,450 863,527 867,450 3,923 SCHEDULE OF LEASE RECEIVABLES RECOGNIZED Lease receivable December 31, 2022 December 31, 2021 Balance, beginning of the period $ 810,236 $ 42,856 Additions 143,630 937,850 Transfer to third party (867,450 ) (120,231 ) Interest on lease receivables 20,841 19,452 Receipt of payments (81,979 ) (60,445 ) Foreign exchange (5,733 ) (9,246 ) Balance, end of the period 19,545 810,236 Current portion of lease receivables (3,627 ) (87,020 ) Long term potion of lease receivables $ 15,918 $ 723,216 Lease receivables are measured at the commencement date based on the present value of future lease payments less the present value of the unguaranteed residual asset. The Company used the rate implicit in the rental revenue contracts to calculate the present value of future payments and unguaranteed residual asset at the date of commencement. Lessee The Company leases certain assets under lease agreements. On October 1, 2019, the Company entered into a 5 8,683 8,683 1.75 On July 10, 2020, the Company entered into a lease agreement for retail, showroom and warehouse space in Fairfield, CA (the “Fairfield Lease”). Upon initial recognition of the lease, the Company recognized right-of-use assets of $ 164,114 156,364 7,750 On July 14, 2020, the Company entered into a lease agreement for office space in Surrey, BC (the “Croydon Lease”). Upon initial recognition of the lease, the Company recognized right-of-use assets of $ 133,825 125,014 8,811 11,948 0.58 On April 1, 2021, the Company entered into a lease agreement for equipment (the “FD150 Lease”). Upon initial recognition of the lease, the Company recognized right-of-use assets of $ 1,018 1,018 1.33 On June 2, 2021, the Company entered into a lease agreement for a trailer (the “Trailer Lease”). Upon initial recognition of the lease, the Company recognized right-of-use assets of $ 8,886 8,886 2.42 Right-of-use assets have been included within fixed assets, net and lease liabilities have been included in lease liability on the Company’s consolidated balance sheet. SCHEDULE OF CONSOLIDATED BALANCE SHEET OF LEASE Right-of-use assets December 31, 2022 December 31, 2021 Cost $ 312,318 $ 312,318 Accumulated depreciation (282,251 ) (170,530 ) Foreign exchange (506 ) 29 Total right-of-use assets $ 29,561 $ 141,880 Lease liability December 31, 2022 December 31, 2021 Current portion $ 35,670 $ 121,270 Long-term portion 4,982 38,696 Total lease liability $ 40,652 $ 159,966 Lease liabilities are measured at the commencement date based on the present value of future lease payments. As the Company’s leases did not provide an implicit rate, the Company used its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The Company used a weighted average discount rate of 11.98% Right-of-use assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The lease terms may include options to extend or terminate the lease if it is reasonably certain that the Company will exercise that option. Lease expense for the year ended December 31, 2022, was $ 118,843 144,758 Future minimum lease payments to be paid by the Company as a lessee for leases as of December 31, 2022 for the next three years are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Lease commitments and lease liability December 31, 2022 2023 $ 37,814 2024 4,300 2025 1,070 Total future minimum lease payments 43,184 Discount (2,532 ) Total 40,652 Current portion of lease liabilities (35,670 ) Long-term portion of lease liabilities $ 4,982 |
MEZZANINE EQUITY
MEZZANINE EQUITY | 12 Months Ended |
Dec. 31, 2022 | |
Mezzanine Equity | |
MEZZANINE EQUITY | Note 12 – MEZZANINE EQUITY Authorized 5,000,000 0.001 1,000,000 0.001 5 5,000,000 0.001 4 10,000 0.001 Each share of Series F preferred shares is convertible into common stock at an amount equal to the lesser of (a) one hundred percent of the lowest traded price for the Company’s stock for the fifteen trading days immediately preceding the relevant Conversion and (b) a twenty percent discount to the price of the common stock in an offering with gross proceeds of at least $10,000,000. The following table summarizes the Company’s redeemable preferred share activities for the years ended December 31, 2022, and December 31, 2021. SCHEDULE OF REDEEMABLE PREFERRED SHARE ACTIVITIES Shares Par Additional paid in capital To be issued Total Balance December 31, 2020 49,230 $ 49 $ 1,007,895 $ 1,265,799 $ 2,273,743 Issuance 3,500 4 2,731,989 (745,926 ) 1,986,067 Converted for common shares (1,926 ) (2 ) (1,538,098 ) - (1,538,100 ) Accrued preferred stock dividends - - - 455,500 455,500 Balance, December 31, 2021 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Balance December 31, 2021 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Balance 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Issuance 1,839 - 714,000 (464,000 ) 250,000 Converted for common shares (620 ) - (302,556 ) ) (2) (336,364 ) Accrued preferred stock dividends (1) - - (838,064 ) 382,563 (455,501 ) Balance, December 31, 2022 52,023 $ 51 $ 1,775,166 $ 860,128 $ 2,635,345 Balance 52,023 $ 51 $ 1,775,166 $ 860,128 $ 2,635,345 (1) The amount of $ 838,064 455,500 (2) $ 33,808 Mezzanine Preferred Equity Transactions During the year ended December 31, 2022: ● 620 ● On October 21, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 410,000 410 96 96,000 ● On September 15, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 125,000 125 ● On August 26, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 250,000 250 ● On July 29, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 90,000 90 368,000 ● On March 31, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 250,000 250 ● On February 7, 2022, pursuant to the December 2021 Series F SPA, the Company received $ 250,000 250 ● On January 4, 2022, pursuant to the December Series 2021 F SPA, the Company received $ 250,000 250 During the year ended December 31, 2021: ● 1,512 ● On November 6, 2020, the Company received gross proceeds of $ 300,000 300 ● On December 7, 2020, the Company received gross proceeds of $ 200,000 200 ● On December 23, 2020, the Company entered into a Securities Purchase Agreement (the “Series F SPA”) whereby the Company agreed to sell and the Purchaser agrees to purchase, in a series of closings (the “Closings”) of at least 1,000 1,000 1,500 1,500,000 1,000 3,000,000 768,008 731,992 On February 4, 2021, the Company issued 1,500 731,992 1,500 1,500,000 ● On June 10, 2021, pursuant to the Series F SPA, the Company received $ 350,000 350 ● On July 20, 2021, pursuant to another Securities Purchase Agreement (the “July Series F SPA”), the Company received $ 400,000 400 138,066 1,180,000 261,934 ● On August 3, 2021, 275 ● On October 22, 2021, 210 ● On November 30, 2021, 491 ● On December 14, 2021, pursuant to another Securities Purchase Agreement (the “December Series F SPA”), the Company received $ 312,000 312 12,000 ● On December 31, 2021, pursuant to the December Series F SPA, the Company received $ 250,000 250 Mezzanine preferred equity, series C and series F, carry a dividend policy which entitles each preferred share to receive, and the Company to pay, cumulative dividends of 10% 382,563 107,081 |
PREFERRED STOCK
PREFERRED STOCK | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
PREFERRED STOCK | Note 13 – PREFERRED STOCK Authorized 3,000,000 0.001 10,000 0.001 100,000 Preferred Stock Transactions During the year ended December 31, 2022: ● On November 3, 2022, the Company issued 30 213,000 ● On August 1, 2022, the Company issued an aggregate of 191 897,000 ● On June 27, 2022, the Company issued an aggregate of 105 777,000 During the year ended December 31, 2021: ● On October 26, 2020, the Company agreed to issue Series B preferred shares that are convertible into 1,000,000 1,000,000 1,340,000 100 1,000,000 1 100,000 10 50 5 500,000 670,000 45 5 500,000 670,000 ● On March 4, 2021, the Company issued an aggregate of 16 849,600 ● 125 1,734,800 |
COMMON STOCK AND ADDITIONAL PAI
COMMON STOCK AND ADDITIONAL PAID IN CAPITAL | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
COMMON STOCK AND ADDITIONAL PAID IN CAPITAL | Note 14 – COMMON STOCK AND ADDITIONAL PAID IN CAPITAL Authorized 350,000,000 0.001 Common Stock Transactions During the year ended December 31, 2022: ● The Company issued an aggregate of 500,000 46,000 26,353 19,647 26,353 ● The Company issued 160,000 13,760 ● The Company issued 500,000 47,000 ● The Company issued 15,924,810 302,557 470 During the year ended December 31, 2021: ● The Company issued an aggregate of 8,138,975 1,436,044 ● The Company issued 715,000 191,235 ● The Company issued 2,430,000 565,250 ● The Company issued 23,046,760 3,822,829 2,000 125 1,734,800 1,512 1,462,296 976 625,803 ● The Company cancelled 1,751,288 Common Stock to be Issued Common stock to be issued as at December 31, 2022 consists of: None. Common stock to be issued as at December 31, 2021 consists of: ● 97,260 19,647 Warrants During the year ended December 31, 2022: ● On December 31, 2022, 6,813,371 During the year ended December 31, 2021: ● The Company granted 1,000,000 three years 0.25 163,998 ● The Company granted 500,000 four years 1.00 668,461 ● The Company granted 2,000,000 five years 0.35 410,425 ● On July 20, 2021, pursuant to the July Series F SPA, the Company is to issue 1,180,000 138,066 5 years 0.30 The fair values of the warrants were calculated using the following assumptions for the Black Scholes Option Pricing Model: SCHEDULE OF WARRANTS ASSUMPTIONS December 31, 2022 December 31, 2021 Risk-free interest rate 0.18 0.82 % 0.18 0.82 % Expected life 3.29 5.11 3.29 5.11 Expected dividend rate 0 % 0 % Expected volatility 285.40 300.18 % 285.40 300.18 % Continuity of the Company’s common stock purchase warrants issued and outstanding is as follows: SCHEDULE OF WARRANTS OUTSTANDING Warrants Weighted average exercise price Outstanding as at December 31, 2020 12,939,813 $ 0.60 Granted 3,500,000 0.41 Outstanding as at December 31, 2021 16,439,813 $ 0.56 Expired 6,813,371 0.78 Outstanding as at December 31, 2022 9,626,442 $ 0.40 As at December 31, 2022, the weighted average remaining contractual life of warrants outstanding was 2.61 2.53 nil nil |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 15 – RELATED PARTY TRANSACTIONS The Company repaid $ 28,118 of management fees and salaries previously owing to the President and CEO, of the Company from December 31, 2021 during the year ended December 31, 2022. As at December 31, 2022, the Company owed $ 49,441 (December 31, 2021 - $ 28,118 ($ 35,710 CDN)) to the President, CEO, and CFO of the Company and to the President, CEOs, and CFOs of the Company’s subsidiaries for management fees and salaries. Amounts owed and owing are unsecured, non-interest bearing, and due on demand. On March 4, 2021, the Company issued an aggregate of 16 849,600 On May 21, 2020, the Company issued an aggregate of 136 122 2 767,040 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | Note 16 – SEGMENT INFORMATION During the year ended December 31, 2022, the Company’s operations included revenue and costs from the sale and rental of GPS tracking devices and interfaces for golf vehicles and related support services, the sale of golf vehicles, and the sale of electric vehicles which includes e-bikes. The Company’s reporting segments are those associated with operating segments above, and the administration of the Company. SCHEDULE OF SEGMENT REPORTING INFORMATION Administration Electric Vehicles Golf Carts GPS Units Total Revenue $ - $ 221,567 $ 1,394,964 $ 2,217,322 $ 3,833,853 Cost of revenue - 191,367 827,299 1,064,302 2,082,968 Gross profit - 30,200 567,665 1,153,020 1,750,885 Operating expenses Compensation expense 2,151,306 268,324 123,789 991,397 3,534,816 General and administration expense 1,765,303 362,924 891,777 409,071 3,429,075 Research and development - 17,500 34,844 - 52,344 Bad debt expense (recovery) (29,389 ) - - - (29,389 ) Depreciation and amortization expense 13,670 - - - 13,670 Total operating expense 3,900,891 648,748 1,050,410 1,400,468 7,000,516 Loss from operations (3,900,891 ) (618,548 ) (482,745 ) (247,448 ) (5,249,631 ) Other income (expense) Foreign currency exchange (28,241 ) - - - (28,241 ) Loss on sale of lease receivable - - - (3,923 ) (3,923 ) (Loss) Gain on extinguishment of debt 40,355 - - - 40,355 Gain on disposal - 3,960 - - 3,960 Interest on preferred shares (3,062 ) - - - (3,062 ) Finance costs (2,055,801 ) - - (251,048 ) (2,306,849 ) Total other income (expense) (2,046,749 ) 3,960 - (254,971 ) (2,297,760 ) Net loss $ (5,947,640 ) $ (614,588 ) $ (482,745 ) $ (502,419 ) $ (7,547,391 ) Total Assets $ 164,567 $ 351,561 $ 1,007,916 $ 720,252 $ 2,244,296 The following table shows a breakdown of the geographic location where the Company’s assets as at December 31, 2022, are located. SCHEDULE OF ASSETS BY GEOGRAPHIC AREA Canada USA UK Mexico Australia China Total Total Assets $ 450,923 $ 1,637,294 $ 4,699 $ 40,000 $ 98,225 $ 13,155 $ 2,244,296 |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS | Note 17 – COMMITMENTS Product Warranties The Company’s warranty policy generally covers a period of two years which is also covered by the manufacturer warranty. Thus, any warranty costs incurred by the Company are immaterial . Indemnifications In the normal course of business, the Company indemnifies other parties, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company’s bylaws contain similar indemnification obligations to the Company’s agents. It is not possible to determine the maximum potential amount under these indemnification agreements due to the Company’s limited history with prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material effect on the Company’s operating results, financial position, or cash flows. |
INCOME TAX
INCOME TAX | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
INCOME TAX | Note 18 – INCOME TAX The Company is subject to income taxes in Canada and the US. The statutory income tax rates were 27 27.5 SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 $ $ Loss before income taxes (7,547,000 ) (6,419,000 ) Income tax rate 27.00 % 27.00 % Income tax recovery calculated using statutory rate (2,038,000 ) (1,733,000 ) Increase (decrease) in income taxes resulting from: Non-deductible (taxable) items 88,000 54,000 Effect of tax rate change (17,000 ) (2,000 ) Effect of different tax jurisdiction rates 24,000 68,000 Change in tax assets not recognized 1,926,000 1,613,000 Income tax expense (recovery) - - The nature and tax effect of the temporary difference giving rise to the deferred tax assets and liabilities at December 31, 2022 and 2021, are summarized as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 $ $ Deferred tax assets Capital assets 20,000 16,000 ROU assets 31,000 5,000 Non-capital losses 17,317,000 15,426,000 Capital leases 9,000 24,000 Accounts receivable 29,000 9,000 Total deferred tax assets 17,406,000 15,480,000 Unrecognized benefit from income tax losses (17,406,000 ) (15,480,000 ) Net deferred tax assets - - Deferred income taxes arise from temporary differences between the tax and financial statement recognition of revenue and expense. In evaluating the ability to recover the deferred tax assets within the jurisdiction from which they arise, the Company considered all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, the Company began with historical results adjusted for changes in accounting policies and incorporates assumptions including the amount of future pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimate the Company are using to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company consider three years of cumulative operating income (loss). As of December 31, 2022, the Company had aggregate net operating losses of $ 65,242,086 57,694,695 |
SUPPLEMENTAL CASH FLOW INFORMAT
SUPPLEMENTAL CASH FLOW INFORMATION | 12 Months Ended |
Dec. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
SUPPLEMENTAL CASH FLOW INFORMATION | Note 19 – SUPPLEMENTAL CASH FLOW INFORMATION SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 Cash paid during the period for: Income tax payments $ - $ - Interest payments 11,222 57,111 Non-cash investing and financing transactions: Shares issued for debt settlement $ - $ 191,235 Shares issued on conversion of preferred shares $ 302,557 $ 2,088,100 Dividends payable with preferred shares to be issued 382,563 455,500 Initial recognition of lease assets $ 143,630 $ 9,904 Initial recognition of lease liabilities $ 143,630 $ 9,904 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 20 – SUBSEQUENT EVENTS Management has evaluated events subsequent to the year ended for transactions and other events that may require adjustment of and/or disclosure in such consolidated financial statements. Subsequent to December 31, 2022: ● On January 4, 2023, 3,000,000 30 ● On January 12, 2023, pursuant to the December Series F SPA, the Company received $ 312,000 312 ● On January 18, 2023, pursuant to the December Series F SPA, the Company received $ 300,000 300 ● On January 13, 2023, 2,991,098 84 40,991 ● On February 17, 2023, 2,992,519 100 48,799 ● On January 18, 2023, the Company received approval to increase the number of common stock authorized from 350,000,000 1,000,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain comparative information has been reclassified to conform with the financial statement presentation adopted in the current year. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of DSG Global Inc. and its subsidiary VTS and its wholly owned subsidiaries DSG UK, Imperium Canada, Imperium, AC Golf Carts, and Liteborne collectively referred to as the “Company”. All intercompany accounts, transactions and profits were eliminated in the consolidated financial statements. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to revenue recognition, the collectability of accounts receivable, valuation of inventory, useful lives and recoverability of long-lived assets, fair value derivative liabilities, the Company’s incremental borrowing rate, leases and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from those estimates. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined. The Company’s policy for equipment requires judgment in determining whether the present value of future expected economic benefits exceeds capitalized costs. The policy requires management to make certain estimates and assumptions about future economic benefits related to its operations. Estimates and assumptions may change if new information becomes available. If information becomes available suggesting that the recovery of capitalized cost is unlikely, the capitalized cost is written off to the consolidated statement of operations. The assessment of whether the going concern assumption is appropriate requires management to take into account all available information about the future, which is at least, but is not limited to, 12 months from the date the financial statements are issued. The Company is aware that material uncertainties related to events or conditions may cast substantial doubt upon the Company’s ability to continue as a going concern. |
Foreign Currency Translation | Foreign Currency Translation The Company’s functional and reporting currency is the U.S. dollar. The functional currency of VTS is the Canadian dollar. The functional currency of DSG UK is the British pound. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets, liabilities, and items recorded in income arising from transactions denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. The accounts of VTS and DSG UK are translated to U.S. dollars using the current rate method. Accordingly, assets and liabilities are translated into U.S. dollars at the period-end exchange rate while revenues and expenses are translated at the average exchange rates during the period. Related exchange gains and losses are included in a separate component of stockholders’ equity as accumulated other comprehensive income (loss). |
Reportable Segments | Reportable Segments The Company has four reportable segments: GPS Devices, those related to its sales and rentals of GPS tracking devices and interfaces for golf vehicles and related support services; Golf Vehicles, the sale of golf vehicles; Electric Vehicles, the sale of electric vehicles, including e-bikes; and Administration, those expenses related to the overall operations of the Company not associated with a specific revenue segment. The Company’s activities are interrelated, and each activity is dependent upon and supportive of the other. Accordingly, all significant operating decisions are based on analysis of financial products provided as a single global business. |
Revenue Recognition and Warranty Reserve | Revenue Recognition and Warranty Reserve Revenue from Contracts with Customers The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. In instances where final acceptance of the product is specified by the customer, revenue is deferred until all acceptance criteria have been met. Revenues are recognized under Topic 606 ● executed contracts with the Company’s customers that it believes are legally enforceable; ● identification of performance obligations in the respective contract; ● determination of the transaction price for each performance obligation in the respective contract; ● allocation the transaction price to each performance obligation; and ● recognition of revenue only when the Company satisfies each performance obligation. Performance Obligations and Signification Judgments The Company’s revenue streams can be categorized into the following performance obligations and recognition patterns: 1. Sale, delivery and installation of Tag, Text and Infinity products, along with digital mapping and customer training. The Company recognizes revenue at a point in time when final sign-off on the installation is obtained from the General Manager and/or Director of Golf. 2. Provision of internet connectivity, regular software updates, software maintenance and basic customer support service. The Company recognizes revenue over time, evenly over the term of the service. 3. Sale and delivery of Fairway Rider (golf carts) products. The Company recognizes revenue at a point in time when control transfers to the customer. 4. Sale and delivery of Electric Vehicles. The Company recognizes revenue at a point in time when control transfers to the customer. Transaction prices for performance obligations are explicitly outlined in relevant agreements, therefore, the Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. Warranty Reserve The Company accrues for warranty costs, sales returns, and other allowances based on its historical experience. The Company matches its warranty period for parts and products to that of the manufacturer’s warranty period. Therefore, any defect will result in a warranty claim to the manufacturer and not the Company. During the years ended December 31, 2022 and 2021, the Company did not provide a warranty for any of its products sold during those periods. The warranty reserve was $ Nil |
Research and Development | Research and Development Research and development expenses include payroll, employee benefits, and other headcount-related expenses associated with product development. Research and development expenses also include third-party development and programming costs, localization costs incurred to translate software for international markets, and the amortization of purchased software code and services content. Such costs related to software development are included in research and development expense until the point that technological feasibility is reached. Research and development is expensed and is included in operating expenses. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred income tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred income tax assets to the amount that is believed more likely than not to be realized. As of December 31, 2022 and 2021, the Company did not have any amounts recorded pertaining to uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense. The Company did not incur any penalties or interest during the years ended December 31, 2022 and 2021. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“the Tax Act”) which significantly changed U.S. tax law. The Tax Act lowered the Company’s statutory federal income tax rate from a maximum of 39% to a rate of 21 |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, and trade receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base, most of which are in Canada, United States and the United Kingdom. The Company controls credit risk related to trade receivables through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. |
Risks and Uncertainties | Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history, foreign currency exchange rates and the volatility of public markets. |
Contingencies | Contingencies Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and equivalents include cash in hand and cash in demand deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. At December 31, 2022 and 2021, there were no uninsured balances for accounts in Canada, the United States and the United Kingdom. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. At December 31, 2022 and 2021, the Company did not hold any cash equivalents. |
Accounts Receivable | Accounts Receivable All accounts receivable under standard terms are due thirty (30) days from the date billed. If the funds are not received within thirty (30) days, the customer is contacted to arrange payment. Currently, the Company does not provide for an allowance for uncollectable accounts receivable due to its history of not having any collectability issues from customers. |
Financing Receivables and Guarantees | Financing Receivables and Guarantees The Company provides financing arrangements, including operating leases and financed service contracts for certain qualified customers. Lease receivables primarily represent sales-type and direct-financing leases. Leases typically have two- to three-year terms and are collateralized by a security interest in the underlying assets. The Company makes an allowance for uncollectible financing receivables based on a variety of factors, including the risk rating of the portfolio, macroeconomic conditions, historical experience, and other market factors. At December 31, 2022 and 2021 management determined that there was no allowance necessary. The Company also provides financing guarantees, which are generally for various third-party financing arrangements to channel partners and other customers. The Company could be called upon to make payment under these guarantees in the event of non-payment to the third party. As at December 31, 2022 and 2021, no financing receivables are outstanding. |
Advertising Costs | Advertising Costs The Company expenses all advertising costs as incurred. Advertising and marketing costs were $ 286,717 134,856 |
Inventory | Inventory Inventories are valued at the lower of cost or net realizable value. Cost is determined using the first-in-first-out basis for finished goods. Net realizable value is determined on the basis of anticipated sales proceeds less the estimated selling expenses. Management compares the cost of inventories with the net realizable value and an adjustment is made to write down inventories to net realizable value, if lower. |
Fixed Assets and Equipment on Lease | Fixed Assets and Equipment on Lease Fixed assets and equipment on lease are stated at cost less accumulated depreciation. Fixed assets and equipment on lease are depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. The estimated useful lives of fixed assets are generally as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF EQUIPMENT Furniture and equipment 5-years Vehicles 5-years Computer equipment 3-years Machinery 5-years Equipment on lease 5-years |
Intangible Assets | Intangible Assets Intangible assets are stated at cost less accumulated amortization and are comprised of patents. The patents are amortized straight-line over the estimated useful life of 20 |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company reviews long-lived assets such as equipment, equipment on lease, and intangible assets with finite useful lives for impairment whenever events or changes in circumstance indicate that the carrying amount may not be recoverable. If the total of the expected undiscounted future cash flows is less than the carrying value of the asset, a loss is recognized for the excess of the carrying amount over the fair value of the asset. |
Financial Instruments and Fair Value Measurements | Financial Instruments and Fair Value Measurements The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “ Distinguishing Liabilities from Equity Derivatives and Hedging ASC 820, “ Fair Value Measurements and Disclosures Financial Instruments Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist of cash, trade receivables, trade and other payables, lease liabilities, convertible note payable to related party, loans payable, derivative liabilities and convertible notes payable. Except for cash, loans payable, and derivative liabilities, the Company’s financial instruments’ carrying amounts, excluding any unamortized discounts, approximate their fair values due to their short term to maturity. The fair value of long-term lease liabilities approximates their carrying value due to minimal changes in interest rates and the Company’s credit risk since initial recognition. Cash and derivative liabilities are measured and recognized at fair value based on level 1 and level 2 inputs, respectively, for all periods presented. |
Government Grants | Government Grants Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income over the period necessary to match the grant on a systematic basis to the costs that it is intended to compensate. The Canadian Emergency Business Account (“CEBA”) are recognized as government grants. See Note 8 (a) and (b). |
Loss per Share | Loss per Share The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statement of operations. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. |
Stock-Based Compensation | Stock-Based Compensation The Company records stock-based compensation in accordance with ASC 718, “Compensation – Stock Compensation”, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. During the years ended December 31, 2022, and 2021 there was no stock-based compensation. |
Leases | Leases The Company accounts for leases in accordance with ASC 842 “Leases”. Lessee Arrangements The Company determines if an arrangement is a lease at inception. Operating and financing right-of-use assets and lease liabilities are included within fixed assets on the consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the information available at the commencement date, in determining the present value of future lease payments. Right-of-use assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation of the right-of-use asset. The lease terms may include options to extend or terminate the lease if it is reasonably certain the Company will exercise that option. Lessor Arrangements The Company determines if an arrangement is a lease at inception. The Company then determines whether to classify the lease as a sales-type or direct financing lease. At commencement date, a lessor shall derecognize the underlying asset and recognize the net investment in the lease, selling profit or loss arising from the lease, and initial direct directs as an expense if the fair value of the underlying asset is different from it carrying amount. The lease receivable (or net investment in the lease) is included on the consolidated balance sheets. The lease receivable amount is recognized based on the present value of lease payments over the lease term and the present value of the unguaranteed residual asset, except when the lease is a direct financing lease, whereby the net investment in the lease should be reduced by the amount of any selling profit. The unguaranteed residual asset is the amount the lessor expects to derive from the underlying asset following the end of the lease term. The Company uses the rate implicit in the lease agreement at the date of commencement, in determining the present value of the future lease payments and unguaranteed residual asset. Interest income is recognized over the term of the lease and lease payments are recognized against the lease receivable balance when received. Currently, the Company only has sales-type operating leases. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Applicable for fiscal years beginning after December 15, 2022: In July 2022, FASB issued ASU 2022-03, Fair Value Measurement (Topic 820); Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In October 3, 2022, FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF ESTIMATED USEFUL LIVES OF EQUIPMENT | SCHEDULE OF ESTIMATED USEFUL LIVES OF EQUIPMENT Furniture and equipment 5-years Vehicles 5-years Computer equipment 3-years Machinery 5-years Equipment on lease 5-years |
TRADE RECEIVABLES (Tables)
TRADE RECEIVABLES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Receivables [Abstract] | |
SCHEDULE OF TRADE RECEIVABLES | As of December 31, 2022 and 2021, trade receivables consist of the following: SCHEDULE OF TRADE RECEIVABLES December 31, 2022 December 31, 2021 Accounts receivables $ 711,028 $ 271,950 Allowance for doubtful accounts - (32,128 ) Total trade receivables, net $ 711,028 $ 239,822 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
SCHEDULE OF INVENTORIES | As of December 31, 2022, and December 31, 2021, inventories consist of the following: SCHEDULE OF INVENTORIES December 31, 2022 December 31, 2021 Parts and accessories $ 217,582 $ 226,230 Golf carts 799,035 158,588 E-bikes 123,280 35,060 Electric vehicles 64,680 292,800 Total inventories $ 1,204,577 $ 712,678 |
FIXED ASSETS AND EQUIPMENT ON_2
FIXED ASSETS AND EQUIPMENT ON LEASE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF FIXED ASSETS | As of December 31, 2022 and 2021, fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS December 31, 2022 December 31, 2021 Machinery $ 5,040 $ 5,040 Furniture and equipment 2,587 2,350 Computer equipment 50,781 41,784 Vehicles 19,989 28,360 Fixed assets, gross 19,989 28,360 Accumulated depreciation (52,851 ) (42,220 ) Fixed assets, net $ 25,546 $ 35,314 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | As of December 31, 2022 and 2021, intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS December 31, 2022 December 31, 2021 Intangible asset - Patents $ 22,353 $ 22,353 Accumulated amortization (11,977 ) (10,749 ) Intangible asset, net $ 10,376 $ 11,604 |
TRADE AND OTHER PAYABLES (Table
TRADE AND OTHER PAYABLES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF TRADE AND OTHER PAYABLES | As of December 31, 2022, and 2021, trade and other payables consist of the following: SCHEDULE OF TRADE AND OTHER PAYABLES December 31, 2022 December 31, 2021 Accounts payable and accrued expenses $ 1,462,557 $ 949,937 Accrued interest 1,880,463 248,610 Other liabilities 13,236 4,051 Total trade and other payables $ 3,356,256 $ 1,202,598 |
LOANS PAYABLE (Tables)
LOANS PAYABLE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF LOANS PAYABLE | As of December 31, 2022 and 2021, loans payable consisted of the following: SCHEDULE OF LOANS PAYABLE December 31, 2022 December 31, 2021 Unsecured loan payable in the amount of CDN$ 40,000 December 31, 2025 (a) $ 29,520 31,449 Unsecured loan payable in the amount of CDN$ 40,000 December 31, 2025 (b) 29,520 31,449 Unsecured loan payable, due on May 21, 2022 1 (c) - 30,115 Secured loan payable, due on June 5, 2050 3.75 (d) 150,000 150,000 Unsecured loan payable, due on June 20, 2022 9 (e) - 2,084,934 Unsecured loan payable, due on December 1, 2025 10 (f) 1,000,000 - Preferred F series shares issued with mandatory redemption (g) 1,357,651 - 2,566,692 2,327,947 Current portion (2,416,692 ) (2,115,049 ) Loans payable, long-term portion $ 150,000 $ 212,898 (a) On April 17, 2020, the Company received a loan in the principal amount of $ 29,520 40,000 10,000 5 December 31, 2025 (b) On April 21, 2020, the Company received a loan in the principal amount of $ 29,520 40,000 10,000 5 (c) On May 21, 2020, the Company received a loan in the principal amount of $ 30,115 1 May 21, 2022 (d) On June 5, 2020, the Company received a loan in the principal amount of $ 150,000 3.75 June 5, 2050 731 (e) On September 13, 2021, the Company entered into a securities purchase agreement with a non-related party. Pursuant to the agreement, the Company received cash proceeds of $ 2,000,000 on September 13, 2021, in exchange for the issuance of an unsecured promissory note in the principal amount of $ 2,400,000 , which was inclusive of a $ 400,000 original issue discount and bears interest at 9 % per annum to the holder and matures June 20, 2022 . If the note is not paid in full before December 12, 2021, an additional $100,000 of guaranteed interest will be added to the note. An additional $100,000 of guaranteed interest will be added to the note on the 12 th . Any principal or interest on the note that is not paid when due or during any period of default bears interest at 24 In the event of a default, the note is convertible at the price that is equal to a 40% discount to the lowest trading price of the Company’s common shares during the 30-day trading period prior to the conversion date. During the year ended December 31, 2022, the Company recorded $ 1,918,065 1,603,000 2,400,000 2,084,935 As the note is in default, it has become convertible at the holder’s request. The fair value of the loan approximates carrying value as it is now short term in nature, effectively due on demand. (f) On December 1, 2022, the Company received a loan in the principal amount of $ 1,000,000 . The loan bears interest at 10 % per annum and is due on December 1, 2025. If not repaid by December 31, 2025, the loan bears interest at 18 % per annum. (g) On February 17, 2022, the Company entered into a Waiver of Conditions (the “Waiver”) to the Share Purchase Agreement (the “SPA”) dated December 13, 2021. The Company has received five payments in the amount of $ 250,000 250,000 90,000 250,000 125,000 125,000 285,000 1,375 20 500 1,375,000 15 75,000 20 3,062 During the year ended December 31, 2022, the Company made required payments in the amount of $ 20,411 |
LEASES (Tables)
LEASES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases | |
SCHEDULE OF LEASE RECEIVABLES RECOGNIZED | SCHEDULE OF LEASE RECEIVABLES RECOGNIZED Lease receivable December 31, 2022 December 31, 2021 Balance, beginning of the period $ 810,236 $ 42,856 Additions 143,630 937,850 Transfer to third party (867,450 ) (120,231 ) Interest on lease receivables 20,841 19,452 Receipt of payments (81,979 ) (60,445 ) Foreign exchange (5,733 ) (9,246 ) Balance, end of the period 19,545 810,236 Current portion of lease receivables (3,627 ) (87,020 ) Long term potion of lease receivables $ 15,918 $ 723,216 |
SCHEDULE OF CONSOLIDATED BALANCE SHEET OF LEASE | Right-of-use assets have been included within fixed assets, net and lease liabilities have been included in lease liability on the Company’s consolidated balance sheet. SCHEDULE OF CONSOLIDATED BALANCE SHEET OF LEASE Right-of-use assets December 31, 2022 December 31, 2021 Cost $ 312,318 $ 312,318 Accumulated depreciation (282,251 ) (170,530 ) Foreign exchange (506 ) 29 Total right-of-use assets $ 29,561 $ 141,880 Lease liability December 31, 2022 December 31, 2021 Current portion $ 35,670 $ 121,270 Long-term portion 4,982 38,696 Total lease liability $ 40,652 $ 159,966 |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS | Future minimum lease payments to be paid by the Company as a lessee for leases as of December 31, 2022 for the next three years are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Lease commitments and lease liability December 31, 2022 2023 $ 37,814 2024 4,300 2025 1,070 Total future minimum lease payments 43,184 Discount (2,532 ) Total 40,652 Current portion of lease liabilities (35,670 ) Long-term portion of lease liabilities $ 4,982 |
MEZZANINE EQUITY (Tables)
MEZZANINE EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Mezzanine Equity | |
SCHEDULE OF REDEEMABLE PREFERRED SHARE ACTIVITIES | The following table summarizes the Company’s redeemable preferred share activities for the years ended December 31, 2022, and December 31, 2021. SCHEDULE OF REDEEMABLE PREFERRED SHARE ACTIVITIES Shares Par Additional paid in capital To be issued Total Balance December 31, 2020 49,230 $ 49 $ 1,007,895 $ 1,265,799 $ 2,273,743 Issuance 3,500 4 2,731,989 (745,926 ) 1,986,067 Converted for common shares (1,926 ) (2 ) (1,538,098 ) - (1,538,100 ) Accrued preferred stock dividends - - - 455,500 455,500 Balance, December 31, 2021 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Balance December 31, 2021 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Balance 50,804 $ 51 $ 2,201,786 $ 975,373 $ 3,177,210 Issuance 1,839 - 714,000 (464,000 ) 250,000 Converted for common shares (620 ) - (302,556 ) ) (2) (336,364 ) Accrued preferred stock dividends (1) - - (838,064 ) 382,563 (455,501 ) Balance, December 31, 2022 52,023 $ 51 $ 1,775,166 $ 860,128 $ 2,635,345 Balance 52,023 $ 51 $ 1,775,166 $ 860,128 $ 2,635,345 (1) The amount of $ 838,064 455,500 (2) $ 33,808 |
COMMON STOCK AND ADDITIONAL P_2
COMMON STOCK AND ADDITIONAL PAID IN CAPITAL (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
SCHEDULE OF WARRANTS ASSUMPTIONS | The fair values of the warrants were calculated using the following assumptions for the Black Scholes Option Pricing Model: SCHEDULE OF WARRANTS ASSUMPTIONS December 31, 2022 December 31, 2021 Risk-free interest rate 0.18 0.82 % 0.18 0.82 % Expected life 3.29 5.11 3.29 5.11 Expected dividend rate 0 % 0 % Expected volatility 285.40 300.18 % 285.40 300.18 % |
SCHEDULE OF WARRANTS OUTSTANDING | Continuity of the Company’s common stock purchase warrants issued and outstanding is as follows: SCHEDULE OF WARRANTS OUTSTANDING Warrants Weighted average exercise price Outstanding as at December 31, 2020 12,939,813 $ 0.60 Granted 3,500,000 0.41 Outstanding as at December 31, 2021 16,439,813 $ 0.56 Expired 6,813,371 0.78 Outstanding as at December 31, 2022 9,626,442 $ 0.40 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT REPORTING INFORMATION | SCHEDULE OF SEGMENT REPORTING INFORMATION Administration Electric Vehicles Golf Carts GPS Units Total Revenue $ - $ 221,567 $ 1,394,964 $ 2,217,322 $ 3,833,853 Cost of revenue - 191,367 827,299 1,064,302 2,082,968 Gross profit - 30,200 567,665 1,153,020 1,750,885 Operating expenses Compensation expense 2,151,306 268,324 123,789 991,397 3,534,816 General and administration expense 1,765,303 362,924 891,777 409,071 3,429,075 Research and development - 17,500 34,844 - 52,344 Bad debt expense (recovery) (29,389 ) - - - (29,389 ) Depreciation and amortization expense 13,670 - - - 13,670 Total operating expense 3,900,891 648,748 1,050,410 1,400,468 7,000,516 Loss from operations (3,900,891 ) (618,548 ) (482,745 ) (247,448 ) (5,249,631 ) Other income (expense) Foreign currency exchange (28,241 ) - - - (28,241 ) Loss on sale of lease receivable - - - (3,923 ) (3,923 ) (Loss) Gain on extinguishment of debt 40,355 - - - 40,355 Gain on disposal - 3,960 - - 3,960 Interest on preferred shares (3,062 ) - - - (3,062 ) Finance costs (2,055,801 ) - - (251,048 ) (2,306,849 ) Total other income (expense) (2,046,749 ) 3,960 - (254,971 ) (2,297,760 ) Net loss $ (5,947,640 ) $ (614,588 ) $ (482,745 ) $ (502,419 ) $ (7,547,391 ) Total Assets $ 164,567 $ 351,561 $ 1,007,916 $ 720,252 $ 2,244,296 |
SCHEDULE OF ASSETS BY GEOGRAPHIC AREA | The following table shows a breakdown of the geographic location where the Company’s assets as at December 31, 2022, are located. SCHEDULE OF ASSETS BY GEOGRAPHIC AREA Canada USA UK Mexico Australia China Total Total Assets $ 450,923 $ 1,637,294 $ 4,699 $ 40,000 $ 98,225 $ 13,155 $ 2,244,296 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE | The Company is subject to income taxes in Canada and the US. The statutory income tax rates were 27 27.5 SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 $ $ Loss before income taxes (7,547,000 ) (6,419,000 ) Income tax rate 27.00 % 27.00 % Income tax recovery calculated using statutory rate (2,038,000 ) (1,733,000 ) Increase (decrease) in income taxes resulting from: Non-deductible (taxable) items 88,000 54,000 Effect of tax rate change (17,000 ) (2,000 ) Effect of different tax jurisdiction rates 24,000 68,000 Change in tax assets not recognized 1,926,000 1,613,000 Income tax expense (recovery) - - |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The nature and tax effect of the temporary difference giving rise to the deferred tax assets and liabilities at December 31, 2022 and 2021, are summarized as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 $ $ Deferred tax assets Capital assets 20,000 16,000 ROU assets 31,000 5,000 Non-capital losses 17,317,000 15,426,000 Capital leases 9,000 24,000 Accounts receivable 29,000 9,000 Total deferred tax assets 17,406,000 15,480,000 Unrecognized benefit from income tax losses (17,406,000 ) (15,480,000 ) Net deferred tax assets - - |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION | SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION December 31, 2022 December 31, 2021 Year Ended December 31, 2022 December 31, 2021 Cash paid during the period for: Income tax payments $ - $ - Interest payments 11,222 57,111 Non-cash investing and financing transactions: Shares issued for debt settlement $ - $ 191,235 Shares issued on conversion of preferred shares $ 302,557 $ 2,088,100 Dividends payable with preferred shares to be issued 382,563 455,500 Initial recognition of lease assets $ 143,630 $ 9,904 Initial recognition of lease liabilities $ 143,630 $ 9,904 |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) - $ / shares | Sep. 17, 2021 | Aug. 12, 2021 |
Imperium Canada [Member] | Class A Voting Participating Common Shares [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Business acquisition, number of shares acquired | 100 | |
Business acquisition, share price | $ 0.10 | |
AC Golf Carts Inc [Member] | Common Stock [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Business acquisition, number of shares acquired | 100 | |
Business acquisition, share price | $ 0.001 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ 6,846,711 | |
Accumulated deficit | 65,242,086 | $ 57,694,695 |
Net loss | 7,547,391 | 6,384,655 |
Net cash provided by (used in) operating activities | $ 3,622,082 | $ 5,613,568 |
SCHEDULE OF ESTIMATED USEFUL LI
SCHEDULE OF ESTIMATED USEFUL LIVES OF EQUIPMENT (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Furniture and Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment estimated useful lives, description | 5-years |
Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment estimated useful lives, description | 5-years |
Computer Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment estimated useful lives, description | 3-years |
Machinery [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment estimated useful lives, description | 5-years |
Equipment on Lease [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment estimated useful lives, description | 5-years |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 12 Months Ended | |
Dec. 31, 2022 USD ($) Integer | Dec. 31, 2021 USD ($) | |
Accounting Policies [Abstract] | ||
Number of Reportable Segments | Integer | 4 | |
Product Warranty Accrual, Current | ||
Federal income tax description | On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“the Tax Act”) which significantly changed U.S. tax law. The Tax Act lowered the Company’s statutory federal income tax rate from a maximum of 39% to a rate of | |
Advertising costs | $ 286,717 | $ 134,856 |
Useful lives finite-lived intangible assets | 20 years |
SCHEDULE OF TRADE RECEIVABLES (
SCHEDULE OF TRADE RECEIVABLES (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Receivables [Abstract] | ||
Accounts receivables | $ 711,028 | $ 271,950 |
Allowance for doubtful accounts | (32,128) | |
Total trade receivables, net | $ 711,028 | $ 239,822 |
SCHEDULE OF INVENTORIES (Detail
SCHEDULE OF INVENTORIES (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Inventory [Line Items] | ||
Total inventories | $ 1,204,577 | $ 712,678 |
Parts and Accessories [Member] | ||
Inventory [Line Items] | ||
Total inventories | 217,582 | 226,230 |
Golf Carts [Member] | ||
Inventory [Line Items] | ||
Total inventories | 799,035 | 158,588 |
E Bikes [Member] | ||
Inventory [Line Items] | ||
Total inventories | 123,280 | 35,060 |
Electric Vehicles [Member] | ||
Inventory [Line Items] | ||
Total inventories | $ 64,680 | $ 292,800 |
SCHEDULE OF FIXED ASSETS (Detai
SCHEDULE OF FIXED ASSETS (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Accumulated depreciation | $ (52,851) | $ (42,220) |
Fixed assets, net | 25,546 | 35,314 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | 5,040 | 5,040 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | 2,587 | 2,350 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | 50,781 | 41,784 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | $ 19,989 | $ 28,360 |
FIXED ASSETS AND EQUIPMENT ON_3
FIXED ASSETS AND EQUIPMENT ON LEASE (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 12,442 | $ 12,225 |
Depreciation for right-of-use assets | $ 111,465 | $ 117,386 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible asset - Patents | $ 22,353 | $ 22,353 |
Accumulated amortization | (11,977) | (10,749) |
Intangible asset, net | $ 10,376 | $ 11,604 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Patent estimated useful life | 20 years | |
Amortization expense | $ 1,228 | $ 1,229 |
SCHEDULE OF TRADE AND OTHER PAY
SCHEDULE OF TRADE AND OTHER PAYABLES (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Payables and Accruals [Abstract] | ||
Accounts payable and accrued expenses | $ 1,462,557 | $ 949,937 |
Accrued interest | 1,880,463 | 248,610 |
Other liabilities | 13,236 | 4,051 |
Total trade and other payables | $ 3,356,256 | $ 1,202,598 |
SCHEDULE OF LOANS PAYABLE (Deta
SCHEDULE OF LOANS PAYABLE (Details) (Parenthetical) | 12 Months Ended | |||||||||||||||||||||
Oct. 21, 2022 USD ($) | Oct. 18, 2022 USD ($) | Sep. 15, 2022 USD ($) | Aug. 29, 2022 USD ($) | Jul. 29, 2022 USD ($) | Mar. 31, 2022 USD ($) | Feb. 28, 2022 USD ($) shares | Feb. 17, 2022 USD ($) shares | Sep. 13, 2021 USD ($) | Jun. 05, 2020 USD ($) | May 21, 2020 USD ($) | Apr. 21, 2020 CAD ($) | Apr. 17, 2020 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 01, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Apr. 21, 2020 USD ($) | Apr. 21, 2020 CAD ($) | Apr. 17, 2020 USD ($) | Apr. 17, 2020 CAD ($) | |
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Jun. 05, 2050 | |||||||||||||||||||||
Debt instrument, interest rate | 3.75% | |||||||||||||||||||||
Loan payable principal amount | $ 150,000 | $ 1,000,000 | ||||||||||||||||||||
Repayments of debt | $ 731 | |||||||||||||||||||||
Proceeds from Notes Payable | $ 1,500,000 | $ 1,897,500 | ||||||||||||||||||||
Interest expense | 1,918,065 | |||||||||||||||||||||
Additional interest expense | 1,603,000 | |||||||||||||||||||||
Interest expense, debt | 3,062 | |||||||||||||||||||||
Share Purchase Agreement [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt instrument, interest rate | 15% | |||||||||||||||||||||
Proceeds from Notes Payable | $ 285,000 | $ 125,000 | $ 125,000 | $ 250,000 | $ 90,000 | $ 250,000 | $ 250,000 | |||||||||||||||
Stock issued during period, shares, new issues | shares | 1,375 | 500 | ||||||||||||||||||||
Percentage of gross sales remittance | 20% | |||||||||||||||||||||
Distributions on mandatorily redeemable securities | $ 1,375,000 | |||||||||||||||||||||
Redemption premium | $ 75,000 | |||||||||||||||||||||
Repayments of notes payable | 20,411 | |||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt instrument, interest rate | 10% | |||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt instrument, interest rate | 18% | |||||||||||||||||||||
Convertible Promissory Notes [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Convertible notes payable | $ 2,400,000 | $ 2,084,935 | ||||||||||||||||||||
Non-related Party [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Jun. 20, 2022 | |||||||||||||||||||||
Debt instrument, interest rate | 9% | |||||||||||||||||||||
Loan payable principal amount | $ 2,400,000 | |||||||||||||||||||||
Proceeds from Notes Payable | 2,000,000 | |||||||||||||||||||||
Debt instrument, unamortized discount | $ 400,000 | |||||||||||||||||||||
Debt instrument, covenant description | If the note is not paid in full before December 12, 2021, an additional $100,000 of guaranteed interest will be added to the note. An additional $100,000 of guaranteed interest will be added to the note on the 12th day of each succeeding month during which any portion of the note remains unpaid | |||||||||||||||||||||
Default interest rate | 24% | |||||||||||||||||||||
Canada Emergency Business Account Program [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Dec. 31, 2025 | |||||||||||||||||||||
Debt instrument, interest rate | 5% | 5% | 5% | 5% | ||||||||||||||||||
Loan payable principal amount | $ 29,520 | $ 40,000 | $ 29,520 | $ 40,000 | ||||||||||||||||||
Debt instrument forgiveness | $ 10,000 | $ 10,000 | ||||||||||||||||||||
Paycheck Protection Program [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | May 21, 2022 | |||||||||||||||||||||
Debt instrument, interest rate | 1% | |||||||||||||||||||||
Loan payable principal amount | $ 30,115 | |||||||||||||||||||||
Loans Payable [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Unsecured debt | $ 40,000 | $ 40,000 | ||||||||||||||||||||
Debt, due date | Dec. 31, 2025 | Dec. 31, 2025 | ||||||||||||||||||||
Loans Payable One [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Unsecured debt | $ 40,000 | $ 40,000 | ||||||||||||||||||||
Debt, due date | Dec. 31, 2025 | Dec. 31, 2025 | ||||||||||||||||||||
Loans Payable Two [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | May 21, 2022 | May 21, 2022 | ||||||||||||||||||||
Debt instrument, interest rate | 1% | 1% | 1% | 1% | ||||||||||||||||||
Loans Payable Three [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Jun. 05, 2050 | Jun. 05, 2050 | ||||||||||||||||||||
Debt instrument, interest rate | 3.75% | 3.75% | 3.75% | 3.75% | ||||||||||||||||||
Loans Payable Four [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Jun. 20, 2022 | Jun. 20, 2022 | ||||||||||||||||||||
Debt instrument, interest rate | 9% | 9% | 9% | 9% | ||||||||||||||||||
Loans Payable Five [Member] | ||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||
Debt, due date | Dec. 01, 2025 | |||||||||||||||||||||
Debt instrument, interest rate | 10% | 10% |
SCHEDULE OF LOANS PAYABLE (De_2
SCHEDULE OF LOANS PAYABLE (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | |
Guarantor Obligations [Line Items] | |||
Loans payable | $ 2,566,692 | $ 2,327,947 | |
Current portion | (2,416,692) | (2,115,049) | |
Loans payable | 150,000 | 212,898 | |
Loans Payable [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [1] | 29,520 | 31,449 |
Loans Payable One [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [2] | 29,520 | 31,449 |
Loans Payable Two [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [3] | 30,115 | |
Loans Payable Three [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [4] | 150,000 | 150,000 |
Loans Payable Four [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [5] | 2,084,934 | |
Loans Payable Five [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [6] | 1,000,000 | |
Loans Payable Six [Member] | |||
Guarantor Obligations [Line Items] | |||
Loans payable | [7] | $ 1,357,651 | |
[1]On April 17, 2020, the Company received a loan in the principal amount of $ 29,520 40,000 10,000 5 December 31, 2025 29,520 40,000 10,000 5 30,115 1 May 21, 2022 150,000 3.75 June 5, 2050 731 250,000 250,000 90,000 250,000 125,000 125,000 285,000 1,375 20 500 1,375,000 15 75,000 20 3,062 |
CONVERTIBLE LOANS (Details Narr
CONVERTIBLE LOANS (Details Narrative) - USD ($) | Dec. 31, 2022 | Dec. 01, 2022 | Dec. 31, 2021 | Jun. 05, 2020 | Jun. 05, 2017 | Mar. 31, 2015 |
Short-Term Debt [Line Items] | ||||||
Debt instrument face value | $ 1,000,000 | $ 150,000 | ||||
Debt instrument interest rate | 3.75% | |||||
Convertible promissory note carrying amount | $ 2,400,000 | |||||
Convertible Promissory Note [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Debt instrument face value | $ 110,000 | |||||
Convertible debt | 9,488 | $ 9,439 | ||||
Director [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Debt instrument face value | $ 310,000 | $ 310,000 | $ 310,000 | |||
Debt instrument interest rate | 5% | |||||
Debt conversion price per share | $ 1.25 |
SCHEDULE OF LEASE RECEIVABLES R
SCHEDULE OF LEASE RECEIVABLES RECOGNIZED (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Leases | ||
Balance, beginning of the period | $ 810,236 | $ 42,856 |
Additions | 143,630 | 937,850 |
Transfer to third party | (867,450) | (120,231) |
Interest on lease receivables | 20,841 | 19,452 |
Receipt of payments | (81,979) | (60,445) |
Foreign exchange | (5,733) | (9,246) |
Balance, end of the period | 19,545 | 810,236 |
Current portion of lease receivables | (3,627) | (87,020) |
Long term potion of lease receivables | $ 15,918 | $ 723,216 |
SCHEDULE OF CONSOLIDATED BALANC
SCHEDULE OF CONSOLIDATED BALANCE SHEET OF LEASE (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Leases | ||
Cost | $ 312,318 | $ 312,318 |
Accumulated depreciation | (282,251) | (170,530) |
Foreign exchange | (506) | 29 |
Total right-of-use assets | 29,561 | 141,880 |
Current portion | 35,670 | 121,270 |
Long-term portion | 4,982 | 38,696 |
Total lease liability | $ 40,652 | $ 159,966 |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Leases | ||
2023 | $ 37,814 | |
2024 | 4,300 | |
2025 | 1,070 | |
Total future minimum lease payments | 43,184 | |
Discount | (2,532) | |
Total | 40,652 | $ 159,966 |
Current portion of lease liabilities | (35,670) | (121,270) |
Long-term portion of lease liabilities | $ 4,982 | $ 38,696 |
LEASES (Details Narrative)
LEASES (Details Narrative) | 12 Months Ended | |||||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 02, 2021 USD ($) | Apr. 01, 2021 USD ($) | Jul. 14, 2020 USD ($) | Jul. 14, 2020 CAD ($) | Jul. 10, 2020 USD ($) | Oct. 01, 2019 USD ($) | |
Lessee, Lease, Description [Line Items] | ||||||||
Sales lease receivables | $ 143,630 | $ 817,619 | ||||||
Transfer to third party | 120,231 | |||||||
Inventory | 12,240 | 492,096 | ||||||
Lease receivables | 867,450 | |||||||
Lease receivables, third parties | 863,527 | |||||||
Lease sold | 867,450 | |||||||
Other income and expenses | 3,923 | |||||||
Operating lease, right-of-use asset | 29,561 | 141,880 | ||||||
Operating lease liability | $ 40,652 | 159,966 | ||||||
Weighted average discount rate, percent | 11.98% | |||||||
General and administration, expense | $ 118,843 | $ 144,758 | ||||||
FD150 Lease Agreement [Member] | ||||||||
Lessee, Lease, Description [Line Items] | ||||||||
Operating lease, right-of-use asset | $ 1,018 | |||||||
Operating lease liability | $ 1,018 | |||||||
Operating lease term | 1 year 3 months 29 days | |||||||
Trailer Lease Agreement [Member] | ||||||||
Lessee, Lease, Description [Line Items] | ||||||||
Operating lease, right-of-use asset | $ 8,886 | |||||||
Operating lease liability | $ 8,886 | |||||||
Operating lease term | 2 years 5 months 1 day | |||||||
CALIFORNIA | ||||||||
Lessee, Lease, Description [Line Items] | ||||||||
Operating lease, right-of-use asset | $ 164,114 | |||||||
Operating lease liability | 156,364 | |||||||
Prepaid rent | $ 7,750 | |||||||
Surrey, BC [Member] | ||||||||
Lessee, Lease, Description [Line Items] | ||||||||
Operating lease, right-of-use asset | $ 133,825 | |||||||
Operating lease liability | 125,014 | |||||||
Operating lease term | 6 months 29 days | |||||||
Prepaid rent | $ 8,811 | $ 11,948 | ||||||
Copier Lease [Member] | ||||||||
Lessee, Lease, Description [Line Items] | ||||||||
Lease agreement term | 5 years | |||||||
Operating lease, right-of-use asset | $ 8,683 | |||||||
Operating lease liability | $ 8,683 | |||||||
Operating lease term | 1 year 9 months |
SCHEDULE OF REDEEMABLE PREFERRE
SCHEDULE OF REDEEMABLE PREFERRED SHARE ACTIVITIES (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Balance | $ 3,177,210 | $ 2,273,743 | |
Balance, shares | 50,804 | ||
Issuance | $ 250,000 | 1,986,067 | |
Converted for common shares | (336,364) | (1,538,100) | |
Accrued preferred stock dividends | (455,501) | [1] | 455,500 |
Balance | $ 2,635,345 | $ 3,177,210 | |
Balance, shares | 52,023 | 50,804 | |
Redeemable Preferred Stock [Member] | |||
Converted for common shares | $ 33,808 | ||
Accrued preferred stock dividends | $ 455,500 | ||
Preferred Stock [Member] | Redeemable Preferred Stock [Member] | |||
Balance | $ 51 | $ 49 | |
Balance, shares | 50,804 | 49,230 | |
Issuance | $ 4 | ||
Balance, shares | 1,839 | 3,500 | |
Converted for common shares | $ (2) | ||
Balance, shares | (620) | (1,926) | |
Accrued preferred stock dividends | [1] | ||
Balance | $ 51 | $ 51 | |
Balance, shares | 52,023 | 50,804 | |
Additional Paid-in Capital [Member] | |||
Balance | $ 2,201,786 | $ 1,007,895 | |
Issuance | 714,000 | 2,731,989 | |
Converted for common shares | (302,556) | (1,538,098) | |
Accrued preferred stock dividends | (838,064) | [1] | |
Balance | 1,775,166 | 2,201,786 | |
Stock To be Issued [Member] | |||
Balance | 975,373 | 1,265,799 | |
Issuance | (464,000) | (745,926) | |
Converted for common shares | (33,808) | [2] | |
Accrued preferred stock dividends | 382,563 | [1] | 455,500 |
Balance | $ 860,128 | $ 975,373 | |
[1]The amount of $ 838,064 455,500 33,808 |
SCHEDULE OF REDEEMABLE PREFER_2
SCHEDULE OF REDEEMABLE PREFERRED SHARE ACTIVITIES (Details) (Parenthetical) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Accrued against additional paid in capital | $ 838,064 | ||
Accrued dividends | (455,501) | [1] | $ 455,500 |
Redeemable preferred shares issued | (336,364) | (1,538,100) | |
Redeemable Preferred Stock [Member] | |||
Accrued dividends | $ 455,500 | ||
Redeemable preferred shares issued | $ 33,808 | ||
[1]The amount of $ 838,064 455,500 |
MEZZANINE EQUITY (Details Narra
MEZZANINE EQUITY (Details Narrative) - USD ($) | 12 Months Ended | ||||||||||||||||||||
Oct. 21, 2022 | Sep. 15, 2022 | Aug. 26, 2022 | Jul. 29, 2022 | Mar. 31, 2022 | Feb. 07, 2022 | Jan. 04, 2022 | Dec. 31, 2021 | Dec. 14, 2021 | Nov. 30, 2021 | Oct. 22, 2021 | Aug. 03, 2021 | Jul. 20, 2021 | Jun. 10, 2021 | Feb. 04, 2021 | Dec. 23, 2020 | Dec. 07, 2020 | Nov. 06, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Preferred stock, shares authorized | 24,010,000 | 24,010,000 | 24,010,000 | ||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||
Proceeds from issuance of preferred shares | $ 1,000,000 | $ 2,536,066 | |||||||||||||||||||
Warrants granted | 3,500,000 | ||||||||||||||||||||
Securities Purchase Agreement [Member] | Warrant [Member] | |||||||||||||||||||||
Warrants granted | 1,180,000 | 3,000,000 | |||||||||||||||||||
Fair value of warrants | $ 261,934 | $ 768,008 | |||||||||||||||||||
Redeemable Series C Preferred Stock [Member] | |||||||||||||||||||||
Preferred stock, shares authorized | 5,000,000 | ||||||||||||||||||||
Preferred stock, par value | $ 0.001 | ||||||||||||||||||||
Redeemable Series D Preferred Stock [Member] | |||||||||||||||||||||
Preferred stock, shares authorized | 1,000,000 | ||||||||||||||||||||
Preferred stock, par value | $ 0.001 | ||||||||||||||||||||
Conversion of convertible preferred stock into common stock | 5 | ||||||||||||||||||||
Redeemable Series E Preferred Stock [Member] | |||||||||||||||||||||
Preferred stock, shares authorized | 5,000,000 | ||||||||||||||||||||
Preferred stock, par value | $ 0.001 | ||||||||||||||||||||
Conversion of convertible preferred stock into common stock | 4 | ||||||||||||||||||||
Redeemable Series F Preferred Stock [Member] | |||||||||||||||||||||
Preferred stock, shares authorized | 10,000 | ||||||||||||||||||||
Preferred stock, par value | $ 0.001 | ||||||||||||||||||||
Convertible preferred stock, description | Each share of Series F preferred shares is convertible into common stock at an amount equal to the lesser of (a) one hundred percent of the lowest traded price for the Company’s stock for the fifteen trading days immediately preceding the relevant Conversion and (b) a twenty percent discount to the price of the common stock in an offering with gross proceeds of at least $10,000,000. | ||||||||||||||||||||
Series F Preferred Stock [Member] | |||||||||||||||||||||
Conversion of convertible preferred stock into common stock | 491 | 210 | 275 | 620 | |||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||
Subscription receivable amount | $ 410,000 | $ 125,000 | $ 250,000 | $ 90,000 | $ 250,000 | $ 250,000 | $ 250,000 | $ 250,000 | $ 312,000 | ||||||||||||
Preferred stock, shares subscribed | 410 | 90 | |||||||||||||||||||
Number of shares issued, shares | 96 | 125 | 250 | 250 | 250 | 250 | 250 | 312 | 350 | 1,000 | |||||||||||
Dividends to be settled with preferred shares | $ 96,000 | $ 368,000 | |||||||||||||||||||
Sale of stock, per share | $ 1,000 | ||||||||||||||||||||
Sale of stock, value | $ 400,000 | ||||||||||||||||||||
Sale of stock ,shares issued | 400 | ||||||||||||||||||||
Number of shares issued, value | $ 138,066 | $ 350,000 | |||||||||||||||||||
Subscription incurred issuance cost | $ 12,000 | ||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | Second Closing [Member] | |||||||||||||||||||||
Number of shares issued, shares | 1,500 | ||||||||||||||||||||
Proceeds from issuance of preferred shares | $ 1,500,000 | ||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | First and Second Closing [Member] | |||||||||||||||||||||
Number of shares issued, shares | 1,500 | ||||||||||||||||||||
Sale of stock, value | $ 1,500,000 | ||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | Additional Closing [Member] | |||||||||||||||||||||
Sale of stock ,shares issued | 1,000 | ||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | First Closing [Member] | |||||||||||||||||||||
Number of shares issued, shares | 1,500 | ||||||||||||||||||||
Sale of stock, value | $ 731,992 | ||||||||||||||||||||
Number of shares issued, value | $ 731,992 | ||||||||||||||||||||
Series C Preferred Stock [Member] | |||||||||||||||||||||
Conversion of convertible preferred stock into common stock | 1,512 | 1,512 | |||||||||||||||||||
Series C Preferred Stock [Member] | Second Closing [Member] | |||||||||||||||||||||
Number of shares issued, shares | 200 | 300 | |||||||||||||||||||
Proceeds from issuance of preferred shares | $ 200,000 | $ 300,000 | |||||||||||||||||||
Mezzanine Preferred Equity Series C And Series F [Member] | |||||||||||||||||||||
Dividends to be settled with preferred shares | $ 382,563 | ||||||||||||||||||||
Description of dividend payable rate | Mezzanine preferred equity, series C and series F, carry a dividend policy which entitles each preferred share to receive, and the Company to pay, cumulative dividends of 10% per annum, payable quarterly, beginning on the original issuance date and ending on the date that such preferred shares has been converted or redeemed. At the option of the Company, accrued dividends can be settled in preferred shares of the same series, or in cash. Any dividends that are not paid quarterly on the dividend payment date shall entail a late fee, which must be paid in cash at the rate of 18% per annum, which accrues and compounds daily from the dividend payment date, through to and including the date of the actual payment in full. | ||||||||||||||||||||
Preferred stock dividend rate, percentage | 10% | ||||||||||||||||||||
Penalty interest | $ 107,081 |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - USD ($) | 12 Months Ended | ||||||||||
Nov. 03, 2022 | Aug. 01, 2022 | Jun. 27, 2022 | Sep. 16, 2021 | May 26, 2021 | Mar. 04, 2021 | Feb. 17, 2021 | Oct. 26, 2020 | May 21, 2020 | Dec. 31, 2021 | Dec. 31, 2022 | |
Class of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized | 3,010,000 | 3,010,000 | |||||||||
Preferred stock par value | $ 0.001 | $ 0.001 | |||||||||
Preferred stock issued | 200,454 | 200,780 | |||||||||
Number of share issued for services, value | $ 849,600 | ||||||||||
Consultant [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of share issued for services | 2,430,000 | ||||||||||
Number of share issued for services, value | $ 565,250 | ||||||||||
Series A Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized | 3,000,000 | ||||||||||
Preferred stock par value | $ 0.001 | ||||||||||
Series B Convertible Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized | 10,000 | ||||||||||
Preferred stock par value | $ 0.001 | ||||||||||
Conversion of convertible preferred stock into common stock | 100,000 | ||||||||||
Series B Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of share issued, shares | 100 | ||||||||||
Conversion of stock shares issued | 500,000 | 500,000 | 100,000 | 1,000,000 | |||||||
Number of warrants issued | 1,000,000 | ||||||||||
Conversion of stock amount issued | $ 670,000 | $ 670,000 | $ 1,340,000 | ||||||||
Warrant issued | 1,000,000 | ||||||||||
Conversion of stock, share converted | 5 | 5 | 125 | ||||||||
Preferred stock issued | 50 | ||||||||||
Shares cancelled | 45 | ||||||||||
Number of share issued for services | 16 | 136 | |||||||||
Number of share issued for services, value | $ 849,600 | ||||||||||
Conversion of stock, amount converted | $ 1,734,800 | ||||||||||
Series B Preferred Stock [Member] | Consultant [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of share issued, shares | 30 | ||||||||||
Stock issued during period, value, new issues | $ 213,000 | ||||||||||
Series B Preferred Stock [Member] | Chief Executive Officer [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of share issued, shares | 191 | ||||||||||
Stock issued during period, value, new issues | $ 897,000 | ||||||||||
Series B Preferred Stock [Member] | Director [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of share issued, shares | 105 | ||||||||||
Stock issued during period, value, new issues | $ 777,000 | ||||||||||
Common Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Conversion of stock, share converted | 1 | ||||||||||
Preferred stock issued | 10 |
SCHEDULE OF WARRANTS ASSUMPTION
SCHEDULE OF WARRANTS ASSUMPTIONS (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 0.18 | 0.18 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 0.82 | 0.82 |
Measurement Input, Expected Term [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 3 years 3 months 14 days | 3 years 3 months 14 days |
Measurement Input, Expected Term [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 5 years 1 month 9 days | 5 years 1 month 9 days |
Measurement Input, Expected Dividend Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 0 | 0 |
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 285.40 | 285.40 |
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Warrants and rights outstanding, measurement input | 300.18 | 300.18 |
SCHEDULE OF WARRANTS OUTSTANDIN
SCHEDULE OF WARRANTS OUTSTANDING (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
Warrants Outstanding, Balance, shares | 16,439,813 | 12,939,813 |
Weighted average exercise price, outstanding, balance, share | $ 0.56 | $ 0.60 |
Warrants, Granted | 3,500,000 | |
Weighted average exercise price, granted | $ 0.41 | |
Warrants, Expired | 6,813,371 | |
Weighted average exercise price, expired | $ 0.78 | |
Warrants Outstanding, Balance, shares | 9,626,442 | 16,439,813 |
Weighted average exercise price, outstanding, balance, share | $ 0.40 | $ 0.56 |
COMMON STOCK AND ADDITIONAL P_3
COMMON STOCK AND ADDITIONAL PAID IN CAPITAL (Details Narrative) - USD ($) | 12 Months Ended | ||||||||||||||||||
Nov. 03, 2022 | Oct. 21, 2022 | Sep. 15, 2022 | Aug. 26, 2022 | Mar. 31, 2022 | Feb. 07, 2022 | Jan. 04, 2022 | Dec. 31, 2021 | Dec. 14, 2021 | Jul. 20, 2021 | Jun. 10, 2021 | Mar. 04, 2021 | Feb. 17, 2021 | Dec. 23, 2020 | May 21, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 26, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Common stock, shares authorized | 350,000,000 | 350,000,000 | 350,000,000 | ||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||
Issuance common stock expenses | $ 19,647 | ||||||||||||||||||
Prepaid expenses | $ 26,353 | 26,353 | |||||||||||||||||
Common stock shares issued for services | 849,600 | ||||||||||||||||||
Shares issued on conversion of preferred shares, value | $ 302,557 | $ 2,088,100 | |||||||||||||||||
Consultant [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
common stock shares issued for services | 2,430,000 | ||||||||||||||||||
Common stock shares issued for services | $ 565,250 | ||||||||||||||||||
Series F Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Shares issued on conversion of preferred shares, value | $ 302,557 | $ 625,803 | |||||||||||||||||
Shares conversion | 470 | 976 | |||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 100 | ||||||||||||||||||
common stock shares issued for services | 16 | 136 | |||||||||||||||||
Common stock shares issued for services | $ 849,600 | ||||||||||||||||||
Shares issued on conversion of preferred shares, value | $ 1,734,800 | ||||||||||||||||||
Shares conversion | 125 | ||||||||||||||||||
Number of warrants issued | 1,000,000 | ||||||||||||||||||
Series B Preferred Stock [Member] | Consultant [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 30 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 213,000 | ||||||||||||||||||
Series C Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Shares issued on conversion of preferred shares, value | $ 1,462,296 | ||||||||||||||||||
Shares conversion | 1,512 | ||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Common stock shares issued for services | |||||||||||||||||||
Shares issued on conversion of preferred shares, value | $ 15,925 | $ 23,048 | |||||||||||||||||
Shares conversion | 15,924,810 | 23,046,760 | |||||||||||||||||
Common Stock [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 15,924,810 | ||||||||||||||||||
Common Stock [Member] | Series B Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 23,046,760 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 3,822,829 | ||||||||||||||||||
Payments for stock issuance costs | 2,000 | ||||||||||||||||||
Common Stock To Be Issued [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Common stock shares issued for services | |||||||||||||||||||
Shares issued on conversion of preferred shares, value | |||||||||||||||||||
Warrant [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Number of warrants expired | 6,813,371 | ||||||||||||||||||
Number of warrants issued | 1,000,000 | 1,000,000 | |||||||||||||||||
Warrants term | 3 years | 3 years | |||||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ 0.25 | $ 0.25 | |||||||||||||||||
Warrants and rights outstanding | $ 163,998 | $ 163,998 | |||||||||||||||||
Warrants weighted average remaining contractual life | 2 years 7 months 9 days | 2 years 6 months 10 days | |||||||||||||||||
Warrants intrinsic value | |||||||||||||||||||
Warrant One [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Number of warrants issued | 500,000 | 500,000 | |||||||||||||||||
Warrants term | 4 years | 4 years | |||||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ 1 | $ 1 | |||||||||||||||||
Warrants and rights outstanding | $ 668,461 | $ 668,461 | |||||||||||||||||
Warrant Two [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Number of warrants issued | 2,000,000 | 2,000,000 | |||||||||||||||||
Warrants term | 5 years | 5 years | |||||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ 0.35 | $ 0.35 | |||||||||||||||||
Warrants and rights outstanding | $ 410,425 | $ 410,425 | |||||||||||||||||
Investor Relations [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 500,000 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 46,000 | ||||||||||||||||||
Compensation expense | $ 26,353 | ||||||||||||||||||
Investor Relations [Member] | Common Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 160,000 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 13,760 | ||||||||||||||||||
Prepaid Legal Service [Member] | Common Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
common stock shares issued for services | 500,000 | ||||||||||||||||||
Common stock shares issued for services | $ 47,000 | ||||||||||||||||||
Debt Settlement [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 8,138,975 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 1,436,044 | ||||||||||||||||||
Treasury stock, common, shares | 1,751,288 | ||||||||||||||||||
Legal Settlement [Member] | Common Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 715,000 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 191,235 | ||||||||||||||||||
Service Agreement [Member] | Common Stock To Be Issued [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 97,260 | ||||||||||||||||||
Stock issued during period, value, new issues | $ 19,647 | ||||||||||||||||||
Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Stock issued during period, shares, new issues | 96 | 125 | 250 | 250 | 250 | 250 | 250 | 312 | 350 | 1,000 | |||||||||
Stock issued during period, value, new issues | $ 138,066 | $ 350,000 | |||||||||||||||||
Securities Purchase Agreement [Member] | Warrant [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||
Number of warrants issued | 1,180,000 | ||||||||||||||||||
Warrants term | 5 years | ||||||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ 0.30 | ||||||||||||||||||
Warrants and rights outstanding | $ 138,066 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | 12 Months Ended | ||||
Mar. 04, 2021 USD ($) shares | May 21, 2020 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 CAD ($) | |
Related Party Transaction [Line Items] | |||||
Preferred shares issued for services | $ 849,600 | ||||
Series B Preferred Stock [Member] | |||||
Related Party Transaction [Line Items] | |||||
Preferred shares issued for services, shares | shares | 16 | 136 | |||
Preferred shares issued for services | $ 849,600 | ||||
SeriesB Convertible Preferred Shares [Member] | |||||
Related Party Transaction [Line Items] | |||||
Preferred shares issued for services | $ 767,040 | ||||
SeriesB Convertible Preferred Shares [Member] | Director [Member] | |||||
Related Party Transaction [Line Items] | |||||
Preferred shares issued for services, shares | shares | 2 | ||||
President, CEO and CFO [Member] | |||||
Related Party Transaction [Line Items] | |||||
Repayments of Related Party Debt | $ 28,118 | ||||
Due to Related Parties | $ 49,441 | $ 28,118 | $ 35,710 | ||
Directors And Employees [Member] | SeriesB Convertible Preferred Shares [Member] | |||||
Related Party Transaction [Line Items] | |||||
Preferred shares issued for services, shares | shares | 122 |
SCHEDULE OF SEGMENT REPORTING I
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue from External Customer [Line Items] | ||
Revenue | $ 3,833,853 | |
Cost of revenue | 2,082,968 | $ 1,110,698 |
Gross profit | 1,750,885 | 982,121 |
Operating expenses | ||
Compensation expense | 3,534,816 | 3,017,181 |
General and administration expense | 3,429,075 | 3,467,995 |
Research and development | 52,344 | 388,035 |
Bad debt expense (recovery) | (29,389) | 49,586 |
Depreciation and amortization expense | 13,670 | 12,837 |
Total operating expense | 7,000,516 | 6,935,634 |
Loss from operations | (5,249,631) | (5,953,513) |
Other income (expense) | ||
Foreign currency exchange | (28,241) | (59,793) |
Loss on sale of lease receivable | (3,923) | |
(Loss) Gain on extinguishment of debt | 40,355 | 35,169 |
Gain on disposal | 3,960 | |
Interest on preferred shares | (3,062) | |
Finance costs | (2,306,849) | (420,102) |
Total other income (expense) | (2,297,760) | (431,142) |
Net loss | (7,547,391) | (6,384,655) |
Total Assets | 2,244,296 | $ 2,612,240 |
Administrative Service [Member] | ||
Revenue from External Customer [Line Items] | ||
Revenue | ||
Cost of revenue | ||
Gross profit | ||
Operating expenses | ||
Compensation expense | 2,151,306 | |
General and administration expense | 1,765,303 | |
Research and development | ||
Bad debt expense (recovery) | (29,389) | |
Depreciation and amortization expense | 13,670 | |
Total operating expense | 3,900,891 | |
Loss from operations | (3,900,891) | |
Other income (expense) | ||
Foreign currency exchange | (28,241) | |
Loss on sale of lease receivable | ||
(Loss) Gain on extinguishment of debt | 40,355 | |
Gain on disposal | ||
Interest on preferred shares | (3,062) | |
Finance costs | (2,055,801) | |
Total other income (expense) | (2,046,749) | |
Net loss | (5,947,640) | |
Total Assets | 164,567 | |
Electric Vehicles [Member] | ||
Revenue from External Customer [Line Items] | ||
Revenue | 221,567 | |
Cost of revenue | 191,367 | |
Gross profit | 30,200 | |
Operating expenses | ||
Compensation expense | 268,324 | |
General and administration expense | 362,924 | |
Research and development | 17,500 | |
Bad debt expense (recovery) | ||
Depreciation and amortization expense | ||
Total operating expense | 648,748 | |
Loss from operations | (618,548) | |
Other income (expense) | ||
Foreign currency exchange | ||
Loss on sale of lease receivable | ||
(Loss) Gain on extinguishment of debt | ||
Gain on disposal | 3,960 | |
Interest on preferred shares | ||
Finance costs | ||
Total other income (expense) | 3,960 | |
Net loss | (614,588) | |
Total Assets | 351,561 | |
Golf Carts [Member] | ||
Revenue from External Customer [Line Items] | ||
Revenue | 1,394,964 | |
Cost of revenue | 827,299 | |
Gross profit | 567,665 | |
Operating expenses | ||
Compensation expense | 123,789 | |
General and administration expense | 891,777 | |
Research and development | 34,844 | |
Bad debt expense (recovery) | ||
Depreciation and amortization expense | ||
Total operating expense | 1,050,410 | |
Loss from operations | (482,745) | |
Other income (expense) | ||
Foreign currency exchange | ||
Loss on sale of lease receivable | ||
(Loss) Gain on extinguishment of debt | ||
Gain on disposal | ||
Interest on preferred shares | ||
Finance costs | ||
Total other income (expense) | ||
Net loss | (482,745) | |
Total Assets | 1,007,916 | |
GPS Units [Member] | ||
Revenue from External Customer [Line Items] | ||
Revenue | 2,217,322 | |
Cost of revenue | 1,064,302 | |
Gross profit | 1,153,020 | |
Operating expenses | ||
Compensation expense | 991,397 | |
General and administration expense | 409,071 | |
Research and development | ||
Bad debt expense (recovery) | ||
Depreciation and amortization expense | ||
Total operating expense | 1,400,468 | |
Loss from operations | (247,448) | |
Other income (expense) | ||
Foreign currency exchange | ||
Loss on sale of lease receivable | (3,923) | |
(Loss) Gain on extinguishment of debt | ||
Gain on disposal | ||
Interest on preferred shares | ||
Finance costs | (251,048) | |
Total other income (expense) | (254,971) | |
Net loss | (502,419) | |
Total Assets | $ 720,252 |
SCHEDULE OF ASSETS BY GEOGRAPHI
SCHEDULE OF ASSETS BY GEOGRAPHIC AREA (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | $ 2,244,296 | $ 2,612,240 |
CANADA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | 450,923 | |
UNITED STATES | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | 1,637,294 | |
UNITED KINGDOM | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | 4,699 | |
MEXICO | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | 40,000 | |
AUSTRALIA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | 98,225 | |
CHINA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total Assets | $ 13,155 |
SCHEDULE OF RECONCILIATION OF I
SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Product Liability Contingency [Line Items] | ||
Income tax rate | 27% | 27% |
Loss before income taxes | $ (7,547,000) | $ (6,419,000) |
Income tax recovery calculated using statutory rate | (2,038,000) | (1,733,000) |
Non-deductible (taxable) items | 88,000 | 54,000 |
Effect of tax rate change | (17,000) | (2,000) |
Effect of different tax jurisdiction rates | 24,000 | 68,000 |
Change in tax assets not recognized | 1,926,000 | 1,613,000 |
Income tax expense (recovery) | ||
CANADA | ||
Product Liability Contingency [Line Items] | ||
Income tax rate | 27% | |
UNITED STATES | ||
Product Liability Contingency [Line Items] | ||
Income tax rate | 27.50% |
SCHEDULE OF DEFERRED TAX ASSETS
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Capital assets | $ 20,000 | $ 16,000 |
ROU assets | 31,000 | 5,000 |
Non-capital losses | 17,317,000 | 15,426,000 |
Capital leases | 9,000 | 24,000 |
Accounts receivable | 29,000 | 9,000 |
Total deferred tax assets | 17,406,000 | 15,480,000 |
Unrecognized benefit from income tax losses | (17,406,000) | (15,480,000) |
Net deferred tax assets |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Net operating loss | $ 65,242,086 | $ 57,694,695 |
SCHEDULE OF SUPPLEMENTAL CASH F
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | ||
Income tax payments | ||
Interest payments | 11,222 | 57,111 |
Shares issued for debt settlement | 191,235 | |
Shares issued on conversion of preferred shares | 302,557 | 2,088,100 |
Dividends payable with preferred shares to be issued | 382,563 | 455,500 |
Initial recognition of lease assets | 143,630 | 9,904 |
Initial recognition of lease liabilities | $ 143,630 | $ 9,904 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 12 Months Ended | |||||||||||||||||||||||
Jan. 18, 2023 | Jan. 17, 2023 | Jan. 13, 2023 | Jan. 12, 2023 | Jan. 04, 2023 | Oct. 21, 2022 | Sep. 15, 2022 | Aug. 26, 2022 | Jul. 29, 2022 | Mar. 31, 2022 | Feb. 07, 2022 | Jan. 04, 2022 | Dec. 31, 2021 | Dec. 14, 2021 | Nov. 30, 2021 | Oct. 22, 2021 | Sep. 16, 2021 | Aug. 03, 2021 | Jun. 10, 2021 | May 26, 2021 | Feb. 17, 2021 | Dec. 23, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | |
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Common stock, shares authorized | 350,000,000 | 350,000,000 | 350,000,000 | |||||||||||||||||||||
Series B Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 5 | 5 | 125 | |||||||||||||||||||||
Stock issued during period, shares, new issues | 100 | |||||||||||||||||||||||
Conversion of share, value | $ 1,734,800 | |||||||||||||||||||||||
Series F Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 491 | 210 | 275 | 620 | ||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Subscription receivable, amount | $ 410,000 | $ 125,000 | $ 250,000 | $ 90,000 | $ 250,000 | $ 250,000 | $ 250,000 | $ 250,000 | $ 312,000 | |||||||||||||||
Stock issued during period, shares, new issues | 96 | 125 | 250 | 250 | 250 | 250 | 250 | 312 | 350 | 1,000 | ||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Common stock, shares authorized | 1,000,000,000 | 350,000,000 | ||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 30 | |||||||||||||||||||||||
Subsequent Event [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 84 | |||||||||||||||||||||||
Conversion of share, value | $ 40,991 | |||||||||||||||||||||||
Subsequent Event [Member] | Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Subscription receivable, amount | $ 300,000 | $ 312,000 | ||||||||||||||||||||||
Stock issued during period, shares, new issues | 300 | 312 | ||||||||||||||||||||||
Subsequent Event [Member] | Series F Preferred Stock One [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 100 | |||||||||||||||||||||||
Conversion of share, value | $ 48,799 | |||||||||||||||||||||||
Common Stock [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Stock issued during period, shares, new issues | 23,046,760 | |||||||||||||||||||||||
Common Stock [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Stock issued during period, shares, new issues | 15,924,810 | |||||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 3,000,000 | |||||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 2,991,098 | |||||||||||||||||||||||
Common Stock One [Member] | Subsequent Event [Member] | Series F Preferred Stock One [Member] | ||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||
Conversion of share | 2,992,519 |