Cosmos Health (COSM) S-1 19 Sep 22 IPO registration Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Entity Registrant Name	COSMOS HOLDINGS INC.
Entity Central Index Key	0001474167
Document Type	S-1
Amendment Flag	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Filer Category	Non-accelerated Filer
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	27-0611758
Entity Address Address Line 1	141 West Jackson Blvd
Entity Address Address Line 2	Suite 4236
Entity Address City Or Town	Chicago
Entity Address State Or Province	IL
Entity Address Postal Zip Code	60604
City Area Code	312
Local Phone Number	536-3102

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 562,320	$ 286,487	$ 628,395
Accounts receivable, net	26,231,722	26,858,114	23,440,650
Accounts receivable - related party	2,299,982	2,901,300	3,468,564
Marketable securities	10,333	11,468	222,792
Inventory	3,595,814	3,147,276	3,292,557
Loans receivable	358,982	377,590	0
Prepaid expenses and other current assets	1,725,111	2,987,687	5,148,441
Prepaid expenses and other current assets - related party	4,120,335	3,263,241	3,468,653
Operating lease right-of-use asset	858,025	834,468	833,763
Financing lease right-of-use asset	237,154	211,099	269,131
TOTAL CURRENT ASSETS	39,999,778	40,878,730	40,772,946
Property and equipment, net	1,619,227	1,888,052	1,757,213
Goodwill and intangible assets, net	741,003	485,767	230,506
Loans receivable - long term portion	3,897,876	4,410,689	0
Other assets	875,011	915,250	905,318
Deferred tax assets	709,546	850,774	178,430
TOTAL ASSETS	47,842,441	49,429,262	43,844,413
CURRENT LIABILITIES:
Accounts payable and accrued expenses	11,171,467	12,126,626	11,973,981
Accounts payable and accrued expenses - related party	529,512	599,125	1,733
Accrued interest	1,429,722	1,019,889	742,374
Lines of credit	4,795,680	4,743,557	4,573,815
Convertible notes payable, net of unamortized discount of $5,744 and $258,938, respectively	619,256	381,062	952,027
Derivative liability - convertible note	41,291	45,665	460,728
Notes payable	12,120,437	5,462,504	12,042,712
Notes payable - related party	429,438	464,264	501,675
Loans payable	1,000,000	1,000,000	0
Loans payable - related party	1,281,802	1,293,472	1,629,246
Taxes payable	1,125,351	1,324,722	760,446
Operating lease liability, current portion	134,833	138,450	200,204
Financing lease liability, current portion	80,150	73,078	89,926
Other current liabilities	1,112,421	1,255,824	361,340
TOTAL CURRENT LIABILITIES	35,871,360	29,928,238	34,290,207
Share settled debt obligation	1,554,590	1,554,590	1,554,590
Lines of credit - long-term portion	191,825	366,171	502,869
Notes payable - long term portion	1,179,626	12,356,384	10,771,882
Operating lease liability, net of current portion	723,190	696,015	590,538
Financing lease liability, net of current portion	167,187	148,401	188,172
Other liabilities			107,168
TOTAL LIABILITIES	39,687,778	45,049,799	48,005,426
Commitments and Contingencies (see Note 14)	0	0	0
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 100,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2021 and 2020			0
Common stock, $0.001 par value; 300,000,000 shares authorized; 23,998,857 and 17,544,509 shares issued and 23,611,433 and 17,157,085 outstanding as of June 30, 2022 and December 31, 2021, respectively	23,997	17,544	13,484
Additional paid-in capital	59,861,359	39,675,753	14,333,285
Treasury stock	(816,707)	(816,707)	(611,854)
Accumulated deficit	(52,352,868)	(34,345,506)	(18,750,824)
Accumulated other comprehensive loss	(1,585,725)	(151,621)	854,896
TOTAL STOCKHOLDERS' EQUITY	5,130,056	4,379,463	(4,161,013)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	47,842,441	49,429,262	$ 43,844,413
Series A Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 100,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2021 and 2020	$ 3,024,607	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Convertible notes payable, net of unamortized discount	$ 5,744	$ 258,938	$ 494,973
STOCKHOLDERS' DEFICIT
Common stock, shares par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000	300,000,000
Common stock, shares issued	23,998,857	17,544,509	13,485,128
Common stock, shares outstanding	23,611,433	17,157,085	13,069,800
Preferred stock, shares par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000	100,000,000
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Treasury stock	387,424	387,424	415,328
Series A Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock, shares par value	$ 1,000	$ 1,000
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, shares issued	2,966	0
Preferred stock, shares outstanding	2,966	0
Preferred stock, Liquidation Preference	3,073,548	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)
REVENUE	$ 13,208,504	$ 14,846,925	$ 26,280,304	$ 26,466,001	$ 56,239,667	$ 55,406,337
COST OF GOODS SOLD	11,362,632	12,810,082	22,542,500	23,427,823	47,909,180	47,345,957
GROSS PROFIT	1,845,872	2,036,843	3,737,804	3,038,178	8,330,487	8,060,380
OPERATING EXPENSES
General and administrative expenses	988,465	2,586,670	1,857,104	4,281,367	9,208,701	2,102,869
Salaries and wages	577,479	578,598	1,098,950	1,104,169	2,472,953	2,082,453
Sales and marketing expenses	245,443	139,633	392,392	544,725	732,545	763,170
Depreciation and amortization expense	108,848	108,413	221,470	215,486	449,692	397,595
TOTAL OPERATING EXPENSES	1,920,235	3,413,314	3,569,916	6,145,747	12,863,891	5,346,087
INCOME (LOSS) FROM OPERATIONS	(74,363)	(1,376,471)	167,888	(3,107,569)	(4,533,404)	2,714,293
OTHER INCOME (EXPENSE)
Other expense, net	(315)	(39,415)	(55,127)	(217,626)	(88,882)	4,571
Interest expense	(560,643)	(780,607)	(1,079,992)	(1,512,433)	(2,823,842)	(2,761,004)
Interest income					46,316	65,865
Non-cash interest expense	(215,807)	(88,979)	(476,334)	(139,088)	(757,021)	(34,106)
Gain (loss) on equity investments, net	(1,622)	(161)	56	279	2,541	(34,443)
Gain on extinguishment of debt	0	0	1,004,124	445,636	606,667	942,029
Change in fair value of derivative liability	(22,256)	26,496	(7,255)	87,869	193,513	(4,158)
Foreign currency transaction, net	(356,687)	96,584	(516,039)	(209,436)	(493,527)	305,274
TOTAL OTHER EXPENSE, NET	(1,157,330)	(786,082)	(1,130,567)	(1,544,799)	(3,314,235)	(1,515,972)
LOSS BEFORE INCOME TAXES	(1,231,693)	(2,162,553)	(962,679)	(4,652,368)	(7,847,639)	1,198,321
BENEFIT FROM (PROVISION FOR) INCOME TAXES	(9,563)	(216,503)	(75,230)	99,409	(114,010)	(377,535)
NET LOSS	(1,241,256)	(2,379,056)	(1,037,909)	(4,552,959)	(7,961,649)	820,786
Deemed dividend on warrants					(7,633,033)	0
Deemed dividend on issuance of warrants	0	0	(5,788,493)	0
Deemed dividend on downround of warrants	(8,480,379)	0	(8,480,379)	0
Deemed dividend on downround of preferred stock	(8,189,515)	0	(8,189,515)	0
Deemed dividend on preferred stock	(352,807)	0	(352,807)	0
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	(18,263,957)	(2,379,056)	(23,849,103)	(4,552,959)	(15,594,682)	820,786
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net	(1,028,875)	284	(1,434,104)	(473,294)	(1,006,517)	871,235
TOTAL COMPREHENSIVE LOSS	$ (19,292,832)	$ (2,378,772)	$ (25,283,207)	$ (5,026,253)	$ (16,601,199)	$ 1,692,021
BASIC NET LOSS PER SHARE	$ (0.93)	$ (0.15)	$ (1.28)	$ (0.29)	$ (0.95)	$ 0.06
DILUTED NET LOSS PER SHARE	$ (0.93)	$ (0.15)	$ (1.28)	$ (0.29)	$ (0.95)	$ 0.06
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic	19,540,097	16,105,409	18,652,736	15,572,773	16,423,335	13,270,097
Diluted	19,540,097	16,105,409	18,652,736	15,572,773	16,423,335	13,307,795

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) AND MEZZANINE EQUITY (Unaudited) - USD ($)	Total	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Preferred Stock	Common Stock	Common Stock	Treasury Stock
Balance, shares at Jan. 01, 2020		365,328					13,225,387
Balance, amount at Jan. 01, 2020	$ (6,460,829)	$ (411,854)	$ 13,525,749	$ (19,571,610)	$ (16,339)		$ 13,225
Foreign currency translation adjustment, net	871,235	0	0	0	871,235		$ 0
Conversion of note payable into shares of common stock, shares							259,741
Conversion of note payable into shares of common stock, amount	807,795	$ 0	807,536	0	0		$ 259
Purchase of treasury stock from third party, shares		(50,000)
Purchase of treasury stock from third party, amount	(200,000)	$ (200,000)	0	0	0		0
Net income	820,786	$ 0	0	820,786	0		$ 0
Balance, shares at Dec. 31, 2020		415,328					13,485,128	13,485,128	(415,328)
Balance, amount at Dec. 31, 2020	(4,161,013)	$ (611,854)	14,333,285	(18,750,824)	854,896	$ 0	$ 13,484	$ 13,484	$ (611,854)
Foreign currency translation adjustment, net	(473,578)		0	0	(473,578)	0		0	0
Net income	(2,173,903)		0	(2,173,903)	0	0		0	$ 0
Sale of treasury stock to third party, shares									65,000
Sale of treasury stock to third party, amount	250,000		249,350	0	0	0		$ 0	$ 650
Restricted stock issued to a consultant, shares								1,800,000
Restricted stock issued to a consultant, amount	1,189,450		1,187,650			0		$ 1,800
Conversion of notes payable into shares of common stock, shares								781,819
Conversion of notes payable into shares of common stock, amount	2,564,364		2,563,582	0	0	0		$ 782	$ 0
Balance, shares at Mar. 31, 2021								16,066,947	(350,328)
Balance, amount at Mar. 31, 2021	(2,804,680)		18,333,867	(20,924,727)	381,318	0		$ 16,066	$ (611,204)
Balance, shares at Dec. 31, 2020		415,328					13,485,128	13,485,128	(415,328)
Balance, amount at Dec. 31, 2020	(4,161,013)	$ (611,854)	14,333,285	(18,750,824)	854,896	0	$ 13,484	$ 13,484	$ (611,854)
Net income	(4,552,959)
Deemed dividend upon downround of preferred stock and warrants	0
Stock-based compensation	3,157,450
Balance, shares at Jun. 30, 2021								16,566,947	(350,328)
Balance, amount at Jun. 30, 2021	384,548		23,901,367	(23,303,783)	381,602	0		$ 16,566	$ (611,204)
Balance, shares at Dec. 31, 2020		415,328					13,485,128	13,485,128	(415,328)
Balance, amount at Dec. 31, 2020	(4,161,013)	$ (611,854)	14,333,285	(18,750,824)	854,896	0	$ 13,484	$ 13,484	$ (611,854)
Foreign currency translation adjustment, net	(1,006,517)	$ 0	0	0	(1,006,517)		0
Purchase of treasury stock from third party, shares		(94,216)
Purchase of treasury stock from third party, amount	(376,863)	$ (376,863)	0				0
Net income	(7,961,649)	$ 0	0	(7,961,649)	0		0
Sale of treasury stock to third party, shares		65,000
Sale of treasury stock to third party, amount	250,000	$ 650	249,350	0	0		$ 0
Restricted stock issued to a consultant, shares							1,800,000
Restricted stock issued to a consultant, amount	5,904,000	0	5,902,200	0	0		$ 1,800
Conversion of notes payable into shares of common stock, shares							1,103,119
Conversion of notes payable into shares of common stock, amount	3,878,480	0	3,877,377	0	0		$ 1,103
Conversions of convertible note payable, shares							213,382
Conversions of convertible note payable, amount	959,025	0	958,811	0	0		$ 214
Conversion of related party debt, shares							1,000,000
Conversion of related party debt, amount	6,000,000	0	5,999,000	0	0		$ 1,000
Beneficial conversion feature discount related to convertible notes payable	294,000	0	294,000	0	0		0
Forgiveness of related party debt	600,000	$ 0	600,000	0	0		$ 0
Cancellation of treasury shares, shares		57,120					(57,120)
Cancellation of treasury shares, amount	0	$ 171,360	(171,303)	0	0		$ (57)
Deemed dividend on warrants	(7,633,033)	$ 0	7,633,033	(7,633,033)	0		$ 0
Stock-based compensation	5,904,000
Balance, shares at Dec. 31, 2021		387,424					17,544,509	17,544,509	(387,424)
Balance, amount at Dec. 31, 2021	4,379,463	$ (816,707)	39,675,753	(34,345,506)	(151,621)	0	$ 17,544	$ 17,544	$ (816,707)
Balance, shares at Mar. 31, 2021								16,066,947	(350,328)
Balance, amount at Mar. 31, 2021	(2,804,680)		18,333,867	(20,924,727)	381,318	0		$ 16,066	$ (611,204)
Foreign currency translation adjustment, net	284		0	0	284			0	0
Net income	(2,379,056)		0	(2,379,056)	0			$ 0	0
Conversion of related party debt, shares								500,000
Conversion of related party debt, amount	3,000,000		2,999,500	0	0			$ 500	0
Forgiveness of related party debt	600,000		600,000	0	0			0	0
Restricted stock issued to a consultant	1,968,000		1,968,000	0	0			$ 0	$ 0
Deemed dividend upon downround of preferred stock and warrants	0
Balance, shares at Jun. 30, 2021								16,566,947	(350,328)
Balance, amount at Jun. 30, 2021	384,548		23,901,367	(23,303,783)	381,602	0		$ 16,566	$ (611,204)
Balance, shares at Dec. 31, 2021		387,424					17,544,509	17,544,509	(387,424)
Balance, amount at Dec. 31, 2021	4,379,463	$ (816,707)	39,675,753	(34,345,506)	(151,621)	0	$ 17,544	$ 17,544	$ (816,707)
Foreign currency translation adjustment, net	(405,229)		0	0	(405,229)	0		0	0
Net income	203,347		0	203,347	0	0		$ 0	0
Conversion of notes payable into shares of common stock, shares								238,000
Conversion of notes payable into shares of common stock, amount	973,420		973,182	0	0	0		$ 238	0
Adjustements for prior periods from adopting ASU 2020-06	(240,752)		(294,000)	53,248	0	$ 0		0	0
Issuance of Series A preferred stock, net of issuance costs of $547,700, shares						6,000
Issuance of Series A preferred stock, net of issuance costs of $547,700, amount	0		0	0	0	$ 5,452,300		$ 0	0
Cashless exercise of warrants, shares								829,471
Cashless exercise of warrants, amount	0		(829)	0	0	$ 0		$ 829	$ 0
Balance, shares at Mar. 31, 2022						6,000		18,611,980	(387,424)
Balance, amount at Mar. 31, 2022	4,910,249		40,354,106	(34,088,911)	(556,850)	$ 5,452,300		$ 18,611	$ (816,707)
Balance, shares at Dec. 31, 2021		387,424					17,544,509	17,544,509	(387,424)
Balance, amount at Dec. 31, 2021	4,379,463	$ (816,707)	39,675,753	(34,345,506)	(151,621)	$ 0	$ 17,544	$ 17,544	$ (816,707)
Net income	(1,037,909)
Deemed dividend upon downround of preferred stock and warrants	5,788,493
Stock-based compensation	24,101
Balance, shares at Jun. 30, 2022						2,966		23,998,857	(387,424)
Balance, amount at Jun. 30, 2022	5,130,056		59,861,359	(52,352,868)	(1,585,725)	$ 3,024,607		$ 23,997	$ (816,707)
Balance, shares at Mar. 31, 2022						6,000		18,611,980	(387,424)
Balance, amount at Mar. 31, 2022	4,910,249		40,354,106	(34,088,911)	(556,850)	$ 5,452,300		$ 18,611	$ (816,707)
Foreign currency translation adjustment, net	(1,028,875)		0	0	(1,028,875)	0		0	0
Net income	(1,241,256)		0	(1,241,256)	0	0		$ 0	0
Cashless exercise of warrants, shares								455,316
Cashless exercise of warrants, amount	0		(455)	0	0	$ 0		$ 455	0
Conversion of Series A preferred stock, shares						(3,034)		4,892,222
Conversion of Series A preferred stock, amount	2,427,693		2,422,801			$ (2,427,693)		$ 4,892
Conversion of convertible debt, shares								39,339
Conversion of convertible debt, amount	38,144		38,105	0	0	0		$ 39	0
Deemed dividend upon downround of preferred stock and warrants	0		16,669,894	(16,669,894)	0	0		0	0
Deemed dividend on preferred stock	0		352,807	(352,807)	0	0		0	0
Stock-based compensation	24,101		24,101	0	0	$ 0		$ 0	$ 0
Balance, shares at Jun. 30, 2022						2,966		23,998,857	(387,424)
Balance, amount at Jun. 30, 2022	$ 5,130,056		$ 59,861,359	$ (52,352,868)	$ (1,585,725)	$ 3,024,607		$ 23,997	$ (816,707)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 1,037,909	$ 4,552,959	$ 7,961,649	$ (820,786)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:
Depreciation and amortization expense	181,863	166,219	352,422	274,062
Amortization of right-of-use assets	39,607	49,267	97,270	123,533
Amortization of debt discounts and accretion of debt	476,334	139,088	757,021	34,105
Lease expense	89,606	99,610	260,663	188,400
Bad debt expense			1,087,339	96,237
Write-off of investment			211,047	0
Interest on finance leases	7,333	5,250	11,576	13,759
Stock-based compensation	24,101	3,157,450	5,904,000	0
Deferred income taxes	61,111	(107,646)	(714,108)	(178,430)
Gain on extinguishment of debt	(1,004,124)	(445,636)	(606,667)	(942,029)
Change in fair value of the derivative liability	7,255	(87,869)	(193,513)	4,158
(Gain) loss on net change in fair value of equity investments	(56)	(1,318)	(2,541)	34,443
Changes in Assets and Liabilities:
Accounts receivable	(1,472,461)	(2,839,680)	(6,256,072)	(14,514,183)
Accounts receivable - related party	358,339	324,536	463,504	(1,299,818)
Inventory	(717,900)	(336,047)	(89,582)	393,154
Prepaid expenses and other current assets	468,014	(1,415,455)	(3,109,941)	(3,332,839)
Prepaid expenses and other current assets - related party	(1,150,256)	450,454	(55,657)	2,800,862
Other assets		153,055	23,294	(131,700)
Loan receivable			(2,663,676)
Accounts payable and accrued expenses	492,024	2,249,153	(3,199,770)	3,448,613
Accounts payable and accrued expenses - related party	(27,708)	195,151	624,349	(240,189)
Accrued interest	427,729	211,251	292,392	654,297
Lease liabilities	(89,247)	(71,436)	(231,900)	(217,210)
Taxes payable	(104,709)	0	622,047	584,507
Other current liabilities	(52,631)	159,132	1,005,685	(56,776)
Other liabilities	0	(20,964)	(124,247)	(59,460)
NET CASH USED IN OPERATING ACTIVITIES	(3,023,685)	(2,519,394)	(7,097,174)	(11,501,718)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from loan receivable	179,829	0	63,699	0
Purchase of property and equipment	(31,546)	(12,100)	(581,398)	(117,744)
Purchase of licenses			(309,118)
Sale of fixed assets	11,837	0
Purchase of intangible assets	(320,427)	0
NET CASH USED IN INVESTING ACTIVITIES	(160,307)	(12,100)	(826,817)	(117,744)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of convertible note payable		(362,000)	(907,000)	(593,000)
Proceeds from convertible note payable	0	100,000	600,000	497,000
Payment of related party note payable				(996,136)
Payment of note payable	(2,476,350)	(20,000)	(512,561)	(5,230,725)
Proceeds from note payable	349,716		591,500	16,556,710
Payment of related party loan	469,384	125,589	(139,594)	(149,695)
Proceeds from related party loan	545,341	2,811,062	7,424,164	721,723
Payment of lines of credit	(11,363,636)	(12,189,057)	(24,006,784)	(18,428,823)
Proceeds from lines of credit	11,700,459	12,311,882	24,437,020	20,369,291
Purchase of treasury stock			(376,863)	(200,000)
Proceeds from issuance of Series A Preferred Stock	5,452,300	0
Payments of finance lease liability	(46,677)	(51,427)	(92,105)	(85,804)
Financing fees	(218,572)	0
Proceeds from sale of treasury stock		250,000	250,000	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	3,473,197	2,724,871	7,267,777	12,460,541
Effect of exchange rate changes on cash	(13,372)	(16,000)	314,306	(251,221)
NET CHANGE IN CASH	275,833	177,377	(341,908)	589,858
CASH AT BEGINNING OF YEAR	286,487	628,395	628,395	38,537
CASH AT END OF YEAR	562,320	805,772	286,487	628,395
Cash paid during the period:
Interest	317,449	208,565	2,059,305	955,376
Income tax	0	0	0	14,127
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Cancellation of treasury shares			171,360	0
Discounts related to beneficial conversion features of convertible debentures			294,000	0
Conversion of convertible notes payable to common stock			649,711	0
Conversion of notes payable to common stock	973,420	2,564,364	3,878,480	807,795
Deemed dividend on warrants upon conversion of convertible debt	5,788,493	0	7,633,033	0
Conversion of loans payable related party to common stock			6,600,000	0
Deemed dividend on preferred stock and warrants upon trigger of downround feature	16,669,894	0
Conversion of derivative liability to additional paid-in capital			$ 284,169	$ 0
Deemed dividend upon cumulative dividend on preferred stock	352,807	$ 0
Conversion of Series A preferred stock	2,427,693
Conversion of convertible debt	$ 38,144

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The terms “COSM,” “we,” “the Company,” and “us” as used in this report refer to Cosmos Holdings, Inc. The accompanying unaudited condensed consolidated balance sheet as of June 30, 2022 and unaudited condensed consolidated statements of operations and comprehensive income for the three months ended June 30, 2022 have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management of COSM, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or any other period. These unaudited consolidated financial statements and notes should be read in conjunction with the financial statements for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“Form 10-K”). The accompanying condensed consolidated balance sheet as of December 31, 2021 has been derived from the audited financial statements filed in our Form 10-K and is included for comparison purposes in the accompanying balance sheet.

ORGANIZATION, NATURE OF BUSINES

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	NOTE 2 – ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN Cosmos Holdings Inc. (d/b/a Cosmos Health, Inc.) (Nasdaq: COSM) is an international healthcare group headquartered in Chicago, Illinois. The group is engaged in the nutraceuticals sector through its own proprietary lines of products “Sky Premium Life” and “Mediterranation”. The Company is operating in the pharmaceutical sector as well, through the provision of a broad line of branded generics and OTC medications. In addition, the group is involved in the healthcare distribution sector through its subsidiaries in Greece and the UK, serving retail pharmacies and wholesale distributors. Cosmos Holdings Inc. is strategically focusing on the research and development (“R&D”) of novel patented nutraceuticals (Intellectual Property) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Holdings has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. The Company was incorporated in the State of Nevada under the name Prime Estates and Developments, Inc. on July 21, 2009, and on November 14, 2013, we changed our name to Cosmos Holdings, Inc.. On August 2, 2022, the Company filed a Fictitious Firm Name Certificate in Nevada to do business under the name Cosmos Health, Inc. and will seek shareholder approval at the next annual shareholders meeting to amend its Articles of Incorporation for the name change. Through its acquisition of Amplerissimo Ltd, on September 27, 2013, the Company changed its principal activities into trading of products, providing representation, and provision of consulting services to various sectors. On August 1, 2014, the Company formed SkyPharm S.A., a Greek Company (“SkyPharm”), a subsidiary that focuses on the trading, sourcing and export of nutraceutical and pharmaceutical products. In February 2017, the Company acquired Decahedron Ltd., a UK Company (“Decahedron”) which is a fully licensed second-generation wholesaler specializing in imports and exports of generics and OTC pharmaceutical products within the EEA and distributor of Sky Premium Life nutraceutical products in the UK . On November 21, 2017, the Company effected a one-for-ten (1:10) reverse stock split whereby the Company decreased, by a ratio of one-for-ten (1:10) the number of issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, and warrants including all share and per-share data, for all amounts and periods presented in the consolidated financial statements. On December 19, 2018, the Company completed the purchase of all of the capital stock of Cosmofarm Ltd., a pharmaceutical wholesaler based in Athens, Greece. Going Concern The Company’s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplates the continuation of the Company as a going concern. For the six months ended June 30, 2022, the Company had revenue of $ 26,280,304, net loss of $1,037,909 and net cash used in operations of $3,023,685. Additionally, as of June 30, 2022, the Company had working capital of $4,128,418, an accumulated deficit of $52,352,868, and stockholders’ equity of $5,130,056. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing. The Company has undergone strategic review processes to help find a definitive solution to the Company’s accumulated deficit constraints. Options under consideration in the strategic review process include, but are not limited to, securing new debt, exchange debt to equity, restructuring current debt facilities from short term to long term and taking the proper actions for new fund raising. The condensed consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund its operations. If the Company is unable to obtain adequate capital, it could be forced to curtail development of operations. In order to continue as a going concern, develop a reliable source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management’s plans to continue as a going concern include raising additional capital through increased sales of product and by equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described herein and eventually secure other sources of financing and attain profitable operations. Summary of Significant Accounting Policies Basis of Financial Statement Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Principles of Consolidation Our condensed consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of the condensed 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 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. Actual results could differ from those estimates. The Effects of COVID-19 Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. The Effects of War in the Ukraine On February 24, 2022, Russian forces launched significant military action against Ukraine. There continues to be sustained conflict and disruption in the region, which is expected to endure for the foreseeable future. We do not conduct any commercial transactions with either Ukraine or Russia and the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. Such political issues and conflicts could have a material adverse effect on our results of operations and financial condition if they escalate in areas in which we do business. In addition, changes in and adverse actions by governments in foreign markets in which we do business could have a material adverse effect on our results of operations and financial condition. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. We will continue monitoring the social, political, regulatory and economic environment in Ukraine and Russia, and will consider further actions as appropriate. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of June 30, 2022 and December 31, 2021, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars, in Greece denominated in Euros, U.S. Dollars and Great Britain Pounds (British Pounds Sterling), and in Bulgaria denominated in Euros. The Company also maintains bank accounts in the United Kingdom, denominated in Euros and Great Britain Pounds (British Pounds Sterling). Reclassifications to Prior Period Financial Statements and Adjustments Certain reclassifications have been made in the Company’s financial statements of the prior period to conform to the current year presentation. As of December 31, 2021, $7,393 in accumulated depreciation has been reclassified from property and equipment to accumulated amortization of goodwill and intangible assets and $4,772 was reclassified from prepaid expenses and other current assets to marketable securities on the unaudited condensed consolidated balance sheet. For the three and six months ended June 30, 2021, $578,598 and $1,104,169 was reclassified from general and administrative expenses to salaries and wages on the unaudited condensed consolidated statements of operations and comprehensive income. Additionally, for the six months ended June 30, 2021, $2,312 was reclassified from customer deposits to other current liabilities on the unaudited condensed consolidated statement of cash flows. These reclassifications have no impact on previously reported net income. Account Receivable, net Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables’ portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At June 30, 2022 and December 31, 2021, the Company’s allowance for doubtful accounts was $1,575,015 and $1,702,743, respectively. Tax Receivable The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. The net VAT receivable is recorded in prepaid expense and other current assets on the condensed consolidated balance sheets. As of June 30, 2022 and December 31, 2021, the Company had a VAT net payable balance of $497,182 and $400,616 respectively, recorded in the condensed consolidated balance sheet as accounts payable and accrued expenses. Inventory Inventory is stated at the lower-of-cost or net realizable value using the weighted average method. Inventory consists primarily of finished goods and packaging materials, i.e., packaged pharmaceutical products and the wrappers and containers they are sold in. A periodic inventory system is maintained by 100% count. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met. Property and Equipment, net Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $80,576 and $78,341 for the three months ended June 30, 2022 and 2021, respectively and $165,456 and $149,812 for the six months ended June 30, 2022 and 2021, respectively. Impairment of Long-Lived Assets In accordance with ASC 360-10, Long-lived Assets, property and equipment and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. Goodwill and Intangibles, net The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for its pharmaceuticals and nutraceuticals products license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of June 30, 2022, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $8,249 and $8,249 for the three months ended June 30, 2022 and 2021, respectively and $16,407 and $16,407 for the six months ended June 30, 2022 and 2021, respectively. Equity Method Investment For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company will record its share in the earnings of the investee and will include it within the condensed consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value. Investments in Equity Securities Investments in equity securities are accounted for at fair value with changes in fair value recognized in net income (loss). Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of June 30, 2022, investments consisted of (i) 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp and (ii) 16,666 shares which traded at a closing price of $0.30 per share or value of $4,925 of National Bank of Greece. Additionally, the Company has $5,407 in equity securities of Pancreta Bank, which are revalued annually. See Note 3, for additional investments in equity securities. Fair Value Measurement The Company applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following tables presents assets that are measured and recognized at fair value as of June 30, 2022 and December 31, 2021, on a recurring basis: June 30, 2022 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 4,925 - - 4,925 Equity securities – Pancreta Bank - 5,407 - 5,407 $ 4,925 $ 5,407 $ 10,332 December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 6,696 - - 6,696 Equity securities – Pancreta Bank - 4,772 - 4,772 $ 6,696 $ 4,772 $ 11,468 Derivative Instruments Derivative financial instruments are recorded in the accompanying condensed consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s condensed consolidated statements of operations. Customer Advances The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer advances balance and credit the Company’s revenues. Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers, the Company uses a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon transfer of the product to the customer. Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, “Compensation-Stock Compensation-Improvements to Nonemployee Share-Based Payment Accounting.” Foreign Currency Translation and Transactions Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and amounts included in the accompanying condensed statements of operations and comprehensive income (loss) are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ deficit until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in comprehensive income (loss). Income Taxes The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom The corporate income tax rate is 22% in Greece and 19% in United Kingdom. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At June 30, 2022 the Company has maintained a valuation allowance against all net deferred tax assets in each jurisdiction in which it is subject to income tax. The Company uses a “more likely than not” criterion for recognizing the income tax benefit of uncertain tax positions and establishing measurement criteria for income tax benefits. The Company has evaluated the impact of these positions and due to the fact that the Company undergoes an annual certified audit each year in lieu of an audit by the Greek tax authorities, the Company has not taken any tax positions that warrant accrual under ASC-740-10. Retirement and Termination Benefits Under Greek labor law, employees are entitled to lump-sum compensation in the event of termination or retirement. The amount depends on the employee’s work experience and renumeration as of the day of termination or retirement. If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day. The Company periodically reviews the uncertainties and judgments related to the application of the relevant labor law regulations to determine retirement and termination benefits obligations of its Greek subsidiaries. The Company has evaluated the impact of these regulations and has identified a potential retirement and termination benefits liability. Basic and Diluted Net Loss per Common Share Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. In accordance with ASC 260, Earnings Per Share, the following table reconciles basic shares outstanding to fully diluted shares outstanding. Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Weighted average number of common shares outstanding-Basic 19,540,097 16,105,409 18,652,736 15,572,773 Potentially dilutive common stock equivalents - - - - Weighted average number of common and equivalent shares outstanding - Diluted 19,540,097 16,105,409 18,652,736 15,572,773 Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented. Accounting Standard Adopted The Company has adopted Accounting Standards Update (“ASU”) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), effective as of January 1, 2022, using the modified retrospective transition method which, among other things, simplifies the accounting for convertible instruments by eliminating the requirement to separate conversion features from the host contract. Consequently, a convertible debt instrument is accounted for as a single liability measured at its amortized cost and interest expense will be recognized at the coupon rate. The adoption resulted in the elimination of the debt discount that had been recorded within equity (see Note 11, “Convertible Debt”). Correction of an Immaterial Error During the three-month period ended June 30, 2022, the Company concluded it should have adopted ASU 2020-06 on January 1, 2022. The Company is now retrospectively adopting ASU 2020-06 as of January 1, 2022 in this Form 10-Q with a cumulative catch-up adjustment. The net impact of the adjustments was recorded as a reduction to the January 1, 2022 balance of additional paid-in capital in the amount of $294,000 and a reduction in accumulated deficit in the amount of $53,248, as presented in the statement of stockholders’ equity, and a reduction in discount on convertible notes payable in the amount of $240,752. The Company has concluded the impact to form 10-Q for the three-month period ended March 31, 2022 to be immaterial to the financial statements and recorded a catchup/correcting adjustment in the current Form 10-Q. Recent Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, Business Combinations. The new guidance should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022 and include interim periods. The guidance is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects of the adoption of ASU No. 2021-08 on its consolidated financial statements. In May 2021, the FASB issued	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Cosmos Holdings Inc. (“us”, “we”, or the “Company”) is an international pharmaceutical company publicly traded with extensive and established distribution network across the EU through its subsidiaries, Decahedron (UK), Skypharm (Greece) and Cosmofarm (Greece). We are a diversified and vertically integrated broad line pharmaceutical company with our own proprietary line of branded nutraceuticals. The Company was incorporated in the State of Nevada under the name Prime Estates and Developments, Inc. on July 21, 2009, and on November 14, 2013, we changed our name to Cosmos Holdings, Inc. Through its acquisition of Amplerissimo Ltd, on September 27, 2013, the Company changed its principal activities into trading of products, providing representation, and provision of consulting services to various sectors. On August 1, 2014, the Company formed SkyPharm S.A., a Greek Company (“SkyPharm”), a subsidiary that focuses on the trading, sourcing and distribution of pharmaceutical products. In February 2017, the Company acquired Decahedron Ltd., a UK Company (“Decahedron”) which is a fully licensed wholesaler of pharmaceutical products, and its primary activity is the distribution, import and export of pharmaceuticals. On November 21, 2017, the Company effected a one-for-ten (1:10) reverse stock split whereby the Company decreased, by a ratio of one-for-ten (1:10) the number of issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, and warrants including all share and per-share data, for all amounts and periods presented in the consolidated financial statements. On December 19, 2018, the Company completed the purchase of all of the capital stock of Cosmofarm Ltd., a pharmaceutical wholesaler based in Athens, Greece. Going Concern The Company’s consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplates the continuation of the Company as a going concern. For the year ended December 31, 2021, the Company had revenue of $56,239,667, net loss of $7,961,649 and net cash used in operations of $7,097,174. Additionally, as of December 31, 2021, the Company had working capital of $10,950,492, an accumulated deficit of $34,345,506, and stockholders’ equity of $4,379,463. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing. The Company has undergone strategic review processes to help find a definitive solution to the Company’s accumulated deficit constraints. Options under consideration in the strategic review process include, but are not limited to, securing new debt, exchange debt to equity, restructuring current debt facilities from short term to long term and taking the proper actions for new fund raising. The consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund its operations. If the Company is unable to obtain adequate capital, it could be forced to curtail development of operations. In order to continue as a going concern, develop a reliable source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management’s plans to continue as a going concern include raising additional capital through increased sales of product and by equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described herein and eventually secure other sources of financing and attain profitable operations. Summary of Significant Accounting Policies Our consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated. Basis of Financial Statement Presentation The accompanying consolidated financial statements have been prepared in accordance with principles generally accepted in the United States of America. Principles of Consolidation Our consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Actual results could differ from those estimates. The Effects of COVID-19 Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Annual Report on Form 10-K. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. Foreign Currency Translation and Other Comprehensive Income (Loss) The functional currency of the Company’s subsidiaries is the Euro and British Pound. For financial reporting purposes, both the Euro (“EUR”) and British Pound (“GBP”) have been translated into United States dollars ($) and/or (“USD”) as the reporting currency. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss)”. Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive loss as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of EUR or GBP to USD after the balance sheet date. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. As of December 31, 2021 and 2020, the exchange rates used to translate amounts in Euros into USD and British Pounds into USD for the purposes of preparing the consolidated financial statements were as follows: December 31, 2021 December 31, 2020 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1318 1.2230 GBP: USD exchange rate 1.3500 1.3662 Average exchange rate for the period EUR: USD exchange rate 1.1830 1.1410 GBP: USD exchange rate 1.3764 1.2829 Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2021 and December 31, 2020, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars and in Greece and in Bulgaria all of which are denominated in Euros. Additionally, the Company maintains a bank account in the United Kingdom denominated in British Pounds. As of December 31, 2021, the amounts in these accounts were $144,489, $101,589 and $4,061. As of December 31, 2020, the amounts in these accounts were $448,659, $134,935 and $1,651. Additionally, as of December 31, 2021 and 2020, the Company had cash on hand in the amount of $25,773 and $31,604, respectively. Reclassifications to Prior Period Financial Statements and Adjustments Certain reclassifications have been made in the Company’s financial statements of the prior period to conform to the current year presentation. $22,340 in customer deposits as of December 31, 2020, has been reclassified to other current liabilities and $502,869 was reclassified from lines of credit to lines of credit – long-term portion on the consolidated balance sheet. For the year ending December 31, 2020, $2,082,453 was reclassified from general and administrative expenses to salaries and wages on the consolidated statements of operations and comprehensive income. For the year ended December 31, 2020, $230,505 was reclassified from customer deposits to other current liabilities and $96,237 in bad debt expenses was reclassified from accounts receivable on the consolidated statement of cash flows. These reclassifications have no impact on previously reported net income. Accounts Receivable, net Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables’ portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At December 31, 2021 and 2020, the Company’s allowance for doubtful accounts was $1,702,743 and $715,845, respectively. Tax Receivables The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. The net VAT receivable is recorded in prepaid expense and other current assets on the consolidated balance sheets. As of December 31, 2021 and 2020, the Company had a VAT net payable balance of $400,616 and $159,198 respectively, recorded in the consolidated balance sheet as accounts payable and accrued expenses. Inventory Inventory is stated at the lower-of-cost or net realizable value using the weighted average method. Inventory consists primarily of finished goods and packaging materials, i.e., packaged pharmaceutical products and the wrappers and containers they are sold in. A periodic inventory system is maintained by 100% count. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met. Property and Equipment, net Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $319,337 and $240,886 for the years ended December 31, 2021 and 2020, respectively. Impairment of Long-Lived Assets In accordance with ASC 360-10, long-lived assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. For the years ended December 31, 2021 and 2020, the Company had no impairment of long-lived assets. Goodwill and Intangibles, net The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for an import/export license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of December 31, 2021, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $33,085 and $33,176 for the years ended December 31, 2021 and 2020, respectively. Equity Method Investment For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company records its share in the earnings of the investee and is included in “Equity earnings of affiliate” in the consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value. Investments in Equity Securities Investments in equity securities are accounted for at fair value with changes in fair value recognized in net income (loss). Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of December 31, 2021, investments consisted of 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp., 16,666 shares which traded at a closing price of $0.40 per share or value of $6,696 of National Bank of Greece. Additionally, the Company has $4,416 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. As of December 31, 2020, investments consisted of 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp., 40,000 shares which traded at a closing price of $5.45 per share, or value of $218,183 of Diversa S.A. and 16,666 shares which traded at a closing price of $0.28 per share or value of $4,609 of National Bank of Greece. Additionally, the Company had $4,772 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. See Note 2, for additional investments in equity securities. Fair Value Measurement The Company applies FASB ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following table presents assets that are measured and recognized at fair value as of December 31, 2021 and 2020, on a recurring basis: December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. - - - - Marketable securities – National Bank of Greece 6,696 - - 6,696 $ 6,696 $ 6,696 December 31, 2020 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. 218,183 - - 218,183 Marketable securities – National Bank of Greece 4,609 - - 4,609 $ 222,792 $ 222,792 In addition, FASB ASC 825-10-25, Fair Value Option, (“ASC 825-10-25”), expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value. The Company did not elect the fair value options for any of its qualifying financial instruments. Derivative Instruments Derivative financial instruments are recorded in the accompanying consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s consolidated statements of operations. Customer Advances The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer advances balance and credit the Company’s revenues. Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers, the Company uses a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon delivery of the product. Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, “Compensation-Stock Compensation-Improvements to Nonemployee Share-Based Payment Accounting.” Foreign Currency Translations and Transactions Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and the statements of operations are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ equity until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in net earnings. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash investments and accounts receivable. The following tables show the number of the Company’s clients which contributed 10% or more of revenue and accounts receivable, respectively: Year Ended December 31, Year Ended December 31, 2021 2020 Number of 10% clients 1 1 Percentage of total revenue 15.33 % 14.82 % Percentage of total AR 35.08 % 14.65 % Income Taxes The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom The corporate income tax rate is 22% in Greece and 19% in United Kingdom. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At December The Company uses a “more likely than not” criterion for recognizing the income tax benefit of uncertain tax positions and establishing measurement criteria for income tax benefits. The Company has evaluated the impact of these positions and due to the fact that the Company undergoes an annual certified audit each year in lieu of an audit by the Greek tax authorities, the Company has not taken any tax positions that warrant accrual under ASC-740-10. Retirement and Termination Benefits Under Greek labor law, employees are entitled to lump-sum compensation in the event of termination or retirement. The amount depends on the employee’s work experience and renumeration as of the day of termination or retirement. If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day. The Company periodically reviews the uncertainties and judgements related to the application of the relevant labor law regulations to determine retirement and termination benefits obligations of its Greek subsidiaries. The Company has evaluated the impact of these regulations and has identified a potential retirement and termination benefits liability. The amount of the liability as of December 31, 2021 and December 31, 2020, was $0 and $107,167, respectively, and has been recorded as a long-term liability within the consolidated balance sheets. Basic and Diluted Net Income (Loss) per Common Share Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. In accordance with ASC 260, Earnings Per Share, the following table reconciles basic shares outstanding to fully diluted shares outstanding. Years Ended December 31, 2021 2020 Weighted average number of common shares outstanding Basic 16,423,335 13,270,097 Potentially dilutive common stock equivalents - 37,698 Weighted average number of common and equivalent shares outstanding – Diluted 16,423,335 13,307,795 Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented. Recent Accounting Pronouncements October 2021, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, Business Combinations. The new guidance should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022 and include interim periods. The guidance is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects of the adoption of ASU No. 2021-08 on its consolidated financial statements. In May 2021, the FASB issued ASU 2021-04—Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this ASU are effective for public and n

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
MARKETABLE SECURITIES
MARKETABLE SECURITIES	NOTE 3 – MARKETABLE SECURITIES Distribution and Equity Agreement On March 19, 2018, the Company entered into a Distribution and Equity Acquisition Agreement with Marathon Global Inc. (“Marathon”), a company incorporated in the Province of Ontario, Canada. Marathon was formed to be a global supplier of cannabis, cannabidiol (CBD) and/or any cannabis extract products, extracts, ancillaries and derivatives (collectively, the “Products”). The Company was appointed the exclusive distributor of the Products initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. The Company has no present intention to distribute any Products under this Agreement in the United States or otherwise participate in cannabis operations in the United States. The Company intends to await further clarification from the U.S. Government on cannabis regulation prior to determining whether to enter the domestic market. The Distribution and Equity Acquisition Agreement is to remain in effect indefinitely unless Marathon fails to provide Market Competitive (as defined) product pricing and Marathon has not become profitable within five (5) years of the agreement. The transaction closed on May 22, 2018 after the due diligence period, following which the Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in common shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. The Company was also given the right to nominate one director to the Marathon board of directors. Since Marathon was a newly formed entity with no assets and no activity, the Company attributed no value to the 5 million shares in Marathon which was received as consideration for the distribution services. As described below, the Company exchanged the Marathon shares in May and July 2018. Share Exchange Agreements On May 17, 2018, the Company entered into a Share Exchange Agreement (the “SEA”) with Marathon, ICC International Cannabis Corp (“ICC”) formerly known as Kaneh Bosm Biotechnology Inc. (“KBB”) and certain other sellers of Marathon capital stock. Under the SEA, the Company transferred 2.5 million shares in Marathon to ICC, a corporation incorporated under the laws of the Province of British Columbia and a public reporting issuer on the Canadian Securities Exchange, in exchange for 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $1,953,000 in the year ended December 31, 2018. On July 16, 2018, the Company completed a Share Exchange Agreement (the “New SEA”) with Marathon, ICC, and certain other sellers of Marathon capital stock whereby the Company transferred its remaining one-half interest (2.5 million shares) in Marathon to KBB for an additional 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $2,092,200 in the year ended December 31, 2018. The ten million shares of ICC owned by the Company constituted approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding. The Company does not have the ability to exercise significant influence over ICC. The Company determined the fair value of both exchanges based on an actively quoted stock price of ICC received in exchange for the Marathon shares. The Company continues to fair value its investment in ICC with changes recognized in earnings each period and was recorded as an unrealized gain on exchange of investment during the six months ended June 30, 2022 of $0. The value of the investments as of June 30, 2022 and December 31, 2021, was $0 and $0, respectively. Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in the future for its services under the Distribution and Equity Acquisition Agreement, if certain milestones are achieved. Refer to Note 12 for the accounting associated with the cash of CAD $2 million received upfront. Variable consideration to be received in the future upon achieving the gross sales milestones described above, is constrained as the Company estimates that it is probable that a significant reversal of revenue could occur. In assessing the constraint, the Company considered its limited experience with the Products, new geographic markets and similar transactions, which affect the Company’s ability to estimate the likelihood of a probable revenue reversal. Therefore, no revenue has been recognized for the period ended June 30, 2022. The Company will continue to reassess variable consideration at each reporting period and update the transaction price when it becomes probable that a significant revenue reversal would not occur. As of June 30, 2022, in addition to the 3,000,000 ICC shares valued at $0, as noted above, marketable securities also consisted of the following: 16,666 shares which traded at a closing price of $0.30 per share or value of $4,925 of National Bank of Greece. Additionally, the Company has $5,407 in equity securities of Pancreta Bank, which are revalued annually. The Company recorded a net unrealized gain on the fair value of these investments of $56 during the six months ended June 30, 2022. CosmoFarmacy LP In September 2019, the Company entered into an agreement with an unaffiliated third party to incorporate CosmoFarmacy L.P. for the purpose of providing strategic management consulting services and the retail trade of pharmaceutical products, and OTC to pharmacies. CosmoFarmacy was incorporated with a 30-year term through May 31, 2049. The unaffiliated third party is the general partner (the “GP”) of the limited partnership and is responsible for management and decision-making associated with CosmoFarmacy. The initial share capital was set to EUR 150,000 which was later increased to EUR 500,000. The GP contributed the pharmacy license (the “License”) valued at EUR 350,000 (30-year term) to operate the business of CosmoFarmacy in exchange for a 70% equity ownership. The Company is a limited partner and contributed cash of EUR 150,000 for the remaining 30% equity ownership. CosmoFarmacy is not publicly traded and the Company’s investment has been recorded using the equity method of accounting. The value of the investment as of June 30, 2022 and December 31, 2021 was $157,035 and $169,770, respectively, and is included in “Other assets” in the accompanying condensed consolidated balance sheet.	NOTE 2 –MARKETABLE SECURITIES Distribution and Equity Agreement On March 19, 2018, the Company entered into a Distribution and Equity Acquisition Agreement (the “Distribution and Equity Acquisition Agreement”) with Marathon Global Inc. (“Marathon”), a company incorporated in the Province of Ontario, Canada. Marathon was formed to be a global supplier of cannabis, cannabidiol (CBD) and/or any cannabis extract products, extracts, ancillaries and derivatives (collectively, the “Products”). The Company was appointed the exclusive distributor of the Products initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. The Company has no present intention to distribute any Products under this Agreement in the United States or otherwise participate in cannabis operations in the United States. The Company intends to await further clarification from the U.S. Government on cannabis regulation prior to determining whether to enter the domestic market. The Distribution and Equity Acquisition Agreement is to remain in effect indefinitely unless Marathon fails to provide Market Competitive (as defined) product pricing and Marathon has not become profitable within five (5) years of the agreement. The transaction closed on May 22, 2018, after the due diligence period, following which the Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in common shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. The Company was also given the right to nominate one director to the Marathon board of directors. Marathon is an entity with no assets and no activity, the Company attributed no value to the 5 million shares in Marathon which was received as consideration for the distribution services. As described below, the Company exchanged the Marathon shares in May and July 2018. Share Exchange Agreements On May 17, 2018, the Company entered into a Share Exchange Agreement (the “SEA”) with Marathon, ICC International Cannabis Corp (“ICC”) formerly known as Kaneh Bosm Biotechnology Inc. (“KBB”) and certain other sellers of Marathon capital stock. Under the SEA, the Company transferred 2.5 million shares in Marathon to ICC, a Company incorporated under the laws of the Province of British Columbia and a public reporting issuer on the Canadian Securities Exchange, in exchange for 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $1,953,000 included in “Gains on exchange of equity investments” in the consolidated statements of operations. On July 16, 2018, the Company completed a Share Exchange Agreement (the “New SEA”) with Marathon, ICC, and certain other sellers of Marathon capital stock whereby the Company transferred its remaining one-half interest (2.5 million shares) in Marathon to KBB for an additional 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $2,092,200 in the year ended December 31, 2018. The ten million shares of ICC owned by the Company constituted approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding. The Company does not have the ability to exercise significant influence over ICC. The Company determined the fair value of both exchanges based on an actively quoted stock price of ICC received in exchange for the Marathon shares. The Company continues to fair value its investment in ICC with changes recognized in earnings each period and was recorded as an unrealized gain on exchange of investment during the year ended December 31, 2021 of $0. The value of the investments as of December 31, 2021 and December 31, 2020, was $0 and $0, respectively. Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in future for its services under the Distribution and Equity Acquisition Agreement, if certain milestones are achieved. Refer to Note 11 for the accounting associated with the cash of CAD $2 million received upfront. Variable consideration to be received in the future upon achieving the gross sales milestones described above, is constrained as the Company estimates that it is probable that a significant reversal of revenue could occur. In assessing the constraint, the Company considered its limited experience with the Products, new geographic markets and similar transactions, which affect the Company’s ability to estimate the likelihood of a probable revenue reversal. Therefore, no revenue has been recognized for the years ended December 31, 2021 and 2020. The Company will continue to reassess variable consideration at each reporting period and update the transaction price when it becomes probable that a significant revenue reversal would not occur. As of December 31, 2020, in addition to the 3,000,000 ICC shares valued at $0, as noted above, marketable securities also consisted of the following: 40,000 shares which traded at a closing price of $5.45 per share, or value of $218,183 of Diversa S.A. and 16,666 shares which traded at a closing price of $0.28 per share or value of $4,609 of National Bank of Greece. The Company recorded a net unrealized loss on the fair value of these investments of $2,246 during the year ended December 31, 2020. As of December 31, 2021, in addition to the 3,000,000 ICC shares valued at $0, as noted above, marketable securities also consisted of the following: 16,666 shares, which traded at a closing price of $0.40 per share or value of $6,696, of National Bank of Greece. The Company recorded a net unrealized gain on the fair value of these investments of $2,541 during the year ended December 31, 2021 and a realized loss of $211,047 related to the write off of the Diversa S.A. shares that were delisted. CosmoFarmacy LP In September 2019, the Company entered into an agreement with an unaffiliated third party to incorporate CosmoFarmacy L.P. for the purpose of providing strategic management consulting services and the retail trade of pharmaceutical products, and OTC to pharmacies. CosmoFarmacy was incorporated with a 30-year term through May 31, 2049. The unaffiliated third party is the general partner (the “GP”) of the limited partnership and is responsible for management and decision-making associated with CosmoFarmacy. The initial share capital was set to EUR 150,000 which was later increased to EUR 500,000. The GP contributed the pharmacy license (the “License”) valued at EUR 350,000 (30-year term) to operate the business of CosmoFarmacy in exchange for a 70% equity ownership. The Company is a limited partner and contributed cash of EUR 150,000 for the remaining 30% equity ownership. CosmoFarmacy is not publicly traded, and the Company’s investment has been recorded using the equity method of accounting. The value of the investment as of December 31, 2021 and 2020, was $169,770 and $183,450, respectively, and is included in “Other assets” on the Company’s consolidated balance sheet.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment consists of the following: June 30, 2022 December 31, 2021 Leasehold improvements $ 482,848 $ 519,278 Vehicles 77,752 96,657 Furniture, fixtures and equipment 1,911,170 2,065,100 Computers and software 134,122 141,490 2,605,892 2,822,525 Less: Accumulated depreciation and amortization (986,665 ) (934,473 ) Total $ 1,619,227 $ 1,888,052	NOTE 3 – PROPERTY AND EQUIPMENT Property and equipment, net consists of the following at December 31,: 2021 2020 Leasehold improvements $ 519,278 $ 560,711 Vehicles 96,657 105,057 Furniture, fixtures and equipment 2,065,100 1,632,654 Computers and software 141,490 149,005 2,822,525 2,447,427 Less: Accumulated depreciation and amortization (941,866 ) (690,214 ) Total $ 1,880,659 $ 1,757,213

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 5 – GOODWILL AND INTANGIBLE ASSETS Intangible assets consist of the following at: June 30, 2022 December 31, 2021 License $ 630,506 $ 345,739 Trade name / mark 36,997 36,997 Customer base 176,793 176,793 844,296 559,529 Less: Accumulated amortization (152,990 ) (123,459 ) Subtotal 691,306 436,070 Goodwill 49,697 49,697 Total $ 741,003 $ 485,767	NOTE 4 – GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible, net assets consist of the following at December 31,: 2021 2020 License $ 345,739 $ 50,000 Trade name /mark 36,997 36,997 Customer base 176,793 176,793 559,529 263,790 Less: Accumulated amortization (116,066 ) (82,981 ) Subtotal 443,463 180,809 Goodwill 49,697 49,697 Total $ 493,160 $ 230,506

LOAN RECEIVABLE

LOAN RECEIVABLE	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
LOAN RECEIVABLE
LOAN RECEIVABLE	NOTE 6 – LOAN RECEIVABLE On October 30, 2021, the Company entered into an agreement for a ten-year loan with a third-party to memorialize €4,284,521 ($4,849,221) in prepayments the Company had made. Interest is calculated at a rate of 5.5% per annum on a 360-day basis. Under the terms of the agreement, the Company is to receive 120 equal payments over the term of the loan. As of December 31, 2021, the Company had a short-term receivable balance of $377,590 and a long-term receivable balance of $4,410,689 under this loan. During the six months ended June 30, 2022, the Company received €164,521 ($172,237) in principal payments such that as of June 30, 2022, the Company had a short-term receivable balance of $ 358,982 and a long-term receivable balance of $3,897,876 under this loan.	NOTE 5 – LOAN RECEIVABLE On October 30, 2021, the Company entered into an agreement for a ten-year loan with a third-party to memorialize €4,284,521 ($4,849,221) in prepayments the Company had made. Interest is calculated at a rate of 5.5% per annum on a 360-day basis. Under the terms of the agreement, the Company is to receive 120 equal payments over the term of the loan. During the year ended December 31, 2021, the Company received €53,845 ($60,942) in principal payments. As of December 31, 2021, the Company has a short-term receivable balance of $377,590 and a long-term receivable balance of $4,410,689 under this loan.

CAPITAL STRUCTURE

CAPITAL STRUCTURE	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
CAPITAL STRUCTURE
CAPITAL STRUCTURE	NOTE 8 – CAPITAL STRUCTURE Preferred Stock The Company is authorized to issue 100 million shares of preferred stock, of which 6,000,000 are designated as Series A convertible preferred stock. The preferred stock has a liquidation preference over the common stock and is non-voting. As of June 30, 2022 and December 31, 2021, 6,000 and 0, preferred shares have been issued, respectively, and 2,966 and 0, shares outstanding, respectively. Major Rights & Preferences of Series A Preferred Stock On and effective October 4, 2021, the Company amended and restated its articles of incorporation (the “Amended and Restated Articles”) and filed a certificate of designation (the “COD”) for its Series A Preferred Stock (the “Series A Preferred Stock”) with the State of Nevada. On February 23, 2022, the Company filed Correction No. 1 to the COD. On July 28, 2022, the Company filed an Amendment to the COD with the State of Nevada to allow a holder to waive application of the Beneficial Ownership Limitation with respect to the conversion of Series A Preferred Stock. The Amended and Restated Articles allow the Company’s Board of Directors the authority to authorize the issuance of preferred stock from time to time in one or more classes or series by resolution. With respect to payment of dividends and distribution of assets upon liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, all shares of the Series A Preferred Stock will rank: (i) senior to all of the Company’s Common Stock and any other equity securities that the Company may issue in the future, (ii) equal to any other equity securities that the Company may issue in the future, the terms of which specifically provide that such equity securities are on parity or senior to the Series A Preferred Stock (“Parity Securities”), (iii) junior to all other equity securities the Company issues, the terms of which specifically provide that such equity securities rank senior to the Series A Preferred Stock, and (iv) junior to all of the Company’s existing and future indebtedness; without the prior written consent of the Majority Holders. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company (a “Liquidation”), the Holders of shares of Series A Preferred Stock shall be first entitled to receive out of the assets of the Company available for distribution to its shareholders. Each Holder shall not be entitled to vote with holders of outstanding shares of Common Stock, voting together as a single class, with respect to any and all matters presented to the stockholders of the Company for their action or consideration, except as provided by law or as set forth in the COD. The holders of Series A Preferred Stock are entitled to receive dividends paid and distributions made to the holders of Common Stock to the same extent as if the holders of Series A Preferred Stock had converted such shares into shares of Common Stock. The Series A Preferred Stock was initially convertible into the Company’s Common Stock as determined by dividing the number of shares of Series A Preferred Stock to be converted by the lower of (i) $3.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five (5) trading days immediately following the effectiveness of the registration statement concerning the shares (the “Conversion Price”). On June 14, 2022, the Conversion Price was reset to $0.6215 per share. On February 28, 2022, the Company entered into a securities purchase agreement, or the Purchase Agreement, with certain investors and an insider for a private placement of the Company’s securities (the “Private Placement”). The Private Placement consisted of the sale of 6,000 shares of the Company’s Series A Convertible Preferred Stock, or the Series A Shares, at a price of $1,000 per share, and 2,000,000 warrants to purchase shares of common stock, or the Warrants, for aggregate gross proceeds of approximately $6 million. The Warrants were initially exercisable to purchase shares of common stock at $3.30 per share, or 110% of the Series A Shares initial conversion price and will expire five and one-half years following the initial exercise date of the Warrants. The Company determined that the 2,000,000 warrants are additional value being distributed to the preferred stockholders and presented the warrants’ fair value of $5,788,493 as a deemed dividend in the unaudited condensed consolidated statements of operations and comprehensive loss. The warrants were valued using the Black-Scholes option pricing model with the following terms: a) exercise price of $3.30, b) common stock fair value of $3.42, c) volatility of 118%, d) discount rate of $1.71%, and e) dividend rate of 0%. The closing of the Private Placement occurred on February 28, 2022. As a condition to the closing of the sale, the Company’s common stock received conditional approval for listing and trading on the Nasdaq Capital Market and commenced trading on February 28, 2022, under the trading symbol, COSM. Concurrent with the issuance of the Series A Shares, the Company executed a registration rights agreement (the “Registration Rights Agreement”) to register the resale of the shares of common stock issuable upon conversion of the Series A Shares and the shares of common stock issuable upon exercise of the warrants issued in connection with the Series A Shares. The Company was required to file its initial registration statement within 45 days following February 28, 2022. The Effectiveness Date was required to be 60 days after February 28, 2022, or 75 days following the SEC’s full review, and any additional registration statements that may be required are to be filed within 20 days following the date required by the SEC. If the Company fails to timely file its initial registration statement, or any additional registration statement, or otherwise comply with the requirements of the Registration Rights Agreement, the Company shall pay each holder 2% of the subscription amount in cash until cured, with an additional penalty of 18% if the cash payment is not made within seven days of the cash payable date. The Company filed its initial registration statement on May 25, 2022, and thus accrued for liquidated damages payable to the Holders in the amount of $187,970, calculated as described above, for both the late filing of the registration statement (event) and the 1 st The Series A Shares rank senior to all of the Company’s Common Stock and any other equity securities that the Company may issue in the future with respect to payment of dividends and distribution of assets upon liquidation, dissolution or winding up. While the Series A Shares are outstanding, the Company may not amend, alter or change adversely the powers, preferences or rights given to the Series A Shares, create, or authorize the creation of, any additional class or series of capital stock of the Company (or any security convertible into or exercisable for any class or series of capital stock of the Company), including any class or series of capital stock of the Company that ranks superior to or in parity with the Series A Shares, alter, amend, modify, or repeal its Articles of Incorporation or other charter documents in any manner that adversely affects any rights of the holders of Series A Shares, increase or decrease the number of authorized shares of Series A Shares, any agreement, commitment or transaction that would result in a Change of Control, any sale or disposition of any material assets outside of the ordinary course of business of the Company, any material change in the principal business of the Company, including the entry into any new line of business or exit of any current line of business, and circumvent a right or preference of the Series A Shares. Any holder of the Series A Shares shall have the right by written election to the Company to convert all or any portion of the outstanding Series A Preferred Shares. Immediately upon effectiveness of a registration statement registering for resale all of the Registrable Securities (as defined in the Registration Rights Agreement), all outstanding Series A Preferred Shares shall automatically convert into Common Stock, subject to certain beneficial ownership limitations. Mezzanine Equity The Series A Shares are recorded as mezzanine equity in accordance with ASC 480 at its initial net carrying value in the amount of $5,452,300. The Series A Shares are recorded as mezzanine equity in accordance with ASC 480 as the Company may be obligated to issue a variable number of shares at a fixed price known at inception and there is no maximum number of shares that could potentially be issued upon conversion. In this instance, cash settlement would be presumed and the Series A Shares are classified as mezzanine equity in accordance with ASC 480-10-S99. Immediately upon effectiveness of the registration statement registering for resale of all the common stock issuable under the Series A Shares, all outstanding Series A Shares shall automatically convert into common stock. As of June 30, 2022, 3,034 of the Series A Shares have been converted into 4,892,222 shares of common stock in accordance with the terms of the agreements and thus an amount of $2,427,693 was reclassified from mezzanine equity to additional paid-in capital. Common Stock The Company is authorized to issue 300 million shares of common stock. As of June 30, 2022 and December 31, 2021, the Company had 23,998,857 and 17,544,509 shares of our common stock issued, respectively, and 23,611,433 and 17,157,085 shares outstanding, respectively. Consulting Agreement The Company entered into a Consulting Agreement (the “Agreement”) effective as of February 5, 2021, with a non-affiliated consultant (the “Consultant”). The Company engaged the Consultant to perform consulting services relating to Company management, debt structure, business plans and business development in connection with any capitalization transactions involving the Company and any newly created or existing entities. The Agreement was for a term of nine (9) months with an initial term of ninety (90) days (the “Initial Term”). The Agreement was terminable by the Company for any reason upon written notice at any time after the Initial Term. The Company agreed to pay Consultant and its assignees an aggregate of 1,800,000 restricted shares of Common Stock, earned at the rate of 200,000 shares per month, which shall be issued and fully paid for in consideration of the Consultant’s considerable expertise and experience and its commitment to work for the Company. However, in the event the Agreement is terminated for any reason after the Initial Term, the shares are subject to a claw back for any months remaining after the Termination Date. The shares were valued on the date of the agreement at $3.28 per share or $5,904,000, which was be amortized over the term of the agreement. As of June 30, 2022 and 2021, the Company has expensed $0 and $3,157,451 under the agreement. Debt Conversions During the six months ended June 30, 2022, the Company issued 238,000 shares of common stock upon the conversion of $1,190,000 of notes payable. The Company recorded $973,420 as a capital contribution and an increase in equity related to the conversion of the $1,190,000 reduced by $216,580 recorded as a gain upon extinguishment of debt upon modification. The $216,580 gain upon extinguishment was determined using the fair value of the Company of $4.09 per share at the extinguishment commitment date. On May 1, 2022, the Company issued 39,339 shares of common stock to convert $26,515 principal and accrued interest. Following the conversion, the outstanding balance of the above Note was $0. Upon conversion, the 39,339 shares were issued at a fair value of $38,144 which was recorded as equity. Accordingly, upon conversion, the Company reduced its derivative liability by $11,629 (see Note 11). Exercise of Warrants During the six months ended June 30, 2022, the Company issued 1,284,787 shares of common stock upon the cashless exercise of 3,488,171 warrants. Issuance of Warrants On May 25, 2022, the Company granted 33,333 warrants to a third party based on a settlement agreement signed on May 25, 2022 as a compensation concerning the services the third party provided for the Private Placement closed on February 28, 2022. The Company recorded stock-based compensation in the amount of $24,101 upon issuance of the warrants valued using the Black-Scholes option pricing model with the following assumptions: a) common stock fair value of $1.07, b) exercise price of $3.30, c) term of 5.51 years, d) volatility of 107.3%, e) dividend rate of 0%, and d) discount rate of 2.71%. On June 14, 2022, the Company issued 8,619,127 warrants upon triggering the down round protection feature in relation to the warrants issued in connection with the Series A shares with an exercise price of $0.62152 and a term of approximately 5 years. Additionally, the Company lowered the exercise price of the 2,000,000 warrants then outstanding from $3.30 to $0.62152 per common share upon triggering the down round protection. The Company recorded a deemed dividend in the amount of $8,480,379 in relation to the down round protection feature for the incremental value of the shares issued and lowered exercise price valued using the Black-Scholes option pricing model with the following assumptions: a) common stock fair value of $1.07, b) old exercise price of $3.30 and revised exercise price of $0.62152, c) term of 5.24 years, d) volatility of 121.47%, e) dividend rate of 0%, and d) discount rate of 2.99%.	NOTE 6 – CAPITAL STRUCTURE Preferred Stock The Company is authorized to issue 100 million shares of preferred stock, which have liquidation preference over the common stock and are non-voting. As of December 31, 2021, and 2020, no preferred shares have been issued. On and effective October 4, 2021, the Company amended and restated its articles of incorporation (the Amended and Restated Articles”) and filed a certificate of designation (the “COD”) for its Series A Preferred Stock (the “Series A Preferred Stock”) with the State of Nevada. The Amended and Restated Articles allow the Company’s Board of Directors the authority to authorize the issuance of preferred stock from time to time in one or more classes or series by resolution. The Series A Preferred Stock is convertible into the Company’s Common Stock as determined by multiplying the number of shares of Series A Preferred Stock to be converted by the lower of (i) $4.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five (5) days prior to the date of Uplisting, subject to a floor of $3.00 (the “Conversion Price”). The holders of the Series A Preferred Stock are not entitled to dividends or to receive distributions in the event of liquidation, dissolution or winding up of the Company, either voluntary or involuntary. Common Stock The Company is authorized to issue 300 million shares of common stock. As of December 31, 2021 and 2020, the Company had 17,544,509 and 13,485,128 shares of our common stock issued, respectively, and 17,157,085 and 13,069,800 shares outstanding, respectively. Sale of Treasury Shares On February 5, 2021, the Company entered into a Stock Purchase Agreement (the “February SPA”) with an unaffiliated third-party. The February SPA provides for the Company’s to sell 65,000 shares of the Company’s common stock held in treasury at $3.85 per share or a total of $250,000. Cancellation of Treasury Shares On September 15, 2021, the Company cancelled 57,120 shares of common stock valued at $171,360 that were held in Treasury. Purchase of Treasury Shares On July 31, 2020, the Company entered into a Stock Purchase Agreement (the “July SPA”) with a shareholder. The July SPA provides for the Company’s purchase of 10,000 shares of the Company’s common stock at $4.00 per share or an aggregate of $40,000. During the year ended December 31, 2020, the Company made $40,000 in payments. On August 31, 2020, the Company entered into two Stock Purchase Agreements (the “August SPAs”) with a shareholder. The August SPAs provide for the Company’s purchase of an aggregate total of 10,000 shares of the Company’s common stock at $4.00 per share or an aggregate of $40,000. During the year ended December 31, 2020, the Company made $40,000 in payments. On September 30, 2020, the Company entered into a Stock Purchase Agreement (the “September SPA”) with a shareholder. The September SPA provides for the Company’s purchase of 10,000 shares of the Company’s common stock at $4.00 per share or an aggregate of $40,000. During the year ended December 31, 2020, the Company made $40,000 in payments. On October 31, 2020, the Company entered into a Stock Purchase Agreement (the “October SPA”) with a shareholder. The October SPA provides for the Company’s purchase of 10,000 shares of the Company’s common stock at $4.00 per share or an aggregate of $40,000. During the year ended December 31, 2020, the Company made $40,000 in payments. On November 30, 2020, the Company entered into a Stock Purchase Agreement (the “November SPA”) with a shareholder. The November SPA provides for the Company’s purchase of 10,000 shares of the Company’s common stock at $4.00 per share or an aggregate of $40,000. During the year ended December 31, 2020, the Company made $40,000 in payments. On December 29, 2021, the Company entered into a Stock Purchase Agreement (the “December SPA”) with a shareholder. The December SPA provides for the Company’s purchase of 94,216 shares of the Company’s common stock at $4.00 per share or an aggregate of $376,863. Consulting Agreement The Company entered into a Consulting Agreement (the “Agreement”) effective as of February 5, 2021, with a non-affiliated consultant (the “Consultant”). The Company engaged the Consultant to perform consulting services relating to Company management, debt structure, business plans and business development in connection with any capitalization transactions involving the Company and any newly created or existing entities. The Agreement is for a term of nine (9) months with an initial term of ninety (90) days (the “Initial Term”). The Agreement is terminable by the Company for any reason upon written notice at any time after the Initial Term. The Company agreed to pay Consultant and its assignees an aggregate of 1,800,000 restricted shares of Common Stock, earned at the rate of 200,000 shares per month, which shall be issued and fully paid for in consideration of the Consultant’s considerable expertise and experience and its commitment to work for the Company. However, in the event the Agreement is terminated for any reason after the Initial Term, the shares are subject to a claw back for any months remaining after the Termination Date. The shares were valued on the date of the agreement at $3.28 per share or $5,904,000, which was be amortized over the term of the agreement. As of December 31, 2021, the Company has recorded $5,904,000 in stock-based compensation for the 1,800,000 shares earned. Debt Exchange Agreements As of February 5, 2021, The Company entered into an Amended and Restated Debt Exchange Agreement (the “Agreement”) with the “Lender that provided for the issuance by the Company of 781,819 shares of common stock (the “Exchange Shares”), at the rate of $3.85 per share, in exchange for an aggregate of $3,010,000 principal amount of existing loans made by the Lender to the Company (See Note 11). The market price at the time this Agreement was negotiated was $3.28 per share and the Company recorded a gain on debt extinguishment of $445,636 during the year ended December 31, 2021. As of December 31, 2021, the Company recorded $2,564,363 as an equity increase related to the extinguishment of debt. On June 23, 2021, the Company entered into a Debt Exchange Agreement (the “June Debt Exchange Agreement”) to exchange various loans with Greg Siokas (See Note 8), in the aggregate principal amount of $3,000,000 (the “Debt”). The Company agreed to issue the Lender shares of common stock of the Company at an exchange rate of $6.00 per share (the “Exchange Shares”) in exchange for the principal amount of Debt of $3,000,000 or 500,000 shares of common stock. On June 23, 2021, the fair value of the Company’s shares of common stock was $5.00 per share. For the year ended December 31, 2021, the Company recorded $3,000,000 as an increase in equity in accordance with ASC 850-10-20 due to the related party relationship and ASC 470-50-40-2, which provides guidance on extinguishments of related party debt. Accordingly, extinguishment transactions between related entities are in essence capital transaction, and no gain is recorded in the consolidated statements of operations for the difference between the fair value of $5.00 per share and the exchange rate of $6.00 per share. On July 13, 2021, the Company entered into a Debt Exchange Agreement (the “July 13 Agreement”) with Grigorios Siokas, the Company’s Chief Executive Officer (See Note 8). The July 13 Agreement provided for the issuance by the Company of 166,667 shares of common stock, at the rate of $6.00 per share, or an aggregate of $1,000,000, in exchange for $1,000,000 of existing loans by Mr. Siokas to the Company. On July 13, 2021, the fair value of the Company’s shares of common stock was $4.03 per share. For the year ended December 31, 2021, the Company recorded $1,000,000 as an increase in equity in accordance with ASC 850-10-20 due to the related party relationship and ASC 470-50-40-2, which provides guidance on extinguishments of related party debt. Accordingly, extinguishment transactions between related entities are in essence capital transaction, and no gain is recorded in the consolidated statements of operations for the difference between the fair value of $4.03 per share and the exchange rate of $6.00 per share. On July 19, 2021, the Company entered into a Debt Exchange Agreement (the “July 19 Agreement”) with Grigorios Siokas, the Company’s Chief Executive Officer (See Note 8). The July 19 Agreement provided for the issuance by the Company of 208,333 shares of common stock, at the rate of $6.00 per share, or an aggregate of $1,250,000, in exchange for $1,250,000 of existing loans by Mr. Siokas to the Company. On July 19, 2021, the fair value of the Company’s shares of common stock was $4.30 per share. For the year ended December 31, 2021, the Company recorded $1,250,000 as an increase in equity in accordance with ASC 850-10-20 due to the related party relationship and ASC 470-50-40-2 which provides guidance on extinguishments of related party debt. Accordingly, extinguishment transactions between related entities are in essence capital transaction, and no gain is recorded in the consolidated statements of operations for the difference between the fair value of $4.30 per share and the exchange rate of $6.00 per share. On August 4, 2021, the Company entered into a Debt Exchange Agreement (the “August 4 Agreement”) with a senior institutional lender (the “Lender”), SkyPharm S.A., a wholly-owned Greek subsidiary of the Company, and Grigorios Siokas, the Company’s Chief Executive Officer, as Guarantor. The parties to the Agreement had entered into a senior loan, as amended, as of June 30, 2020 (the “Loan”) pursuant to which the Loan had been reduced to EUR 2,700,000 ($3,302,100) (the “Debt”). The August 4 Agreement provides for the issuance by the Company of 321,300 shares of common stock (the “Exchange Shares”), at the rate of $5.00 per share, in exchange for the repayment of $1,606,500 (€1,350,000) principal amount effective upon the closing of the Agreement and 238,000 shares at an exchange rate of $5.00 per share, or at market value if the price is above $5.00 per share, upon listing of the Company’s common stock on Nasdaq in exchange for €1,000,000 of the Debt. On August 4, 2021, the fair value of the Company’s shares of common stock was $4.09 per share. For the year ending December 31, 2021, the Company recorded a gain on the settlement of debt in the amount of $292,383 in the consolidated statements of operations for the difference between the fair value of $4.09 per share and the exchange rate of $5.00 per share. As of December 31, 2021, the Company recorded $1,314,117 as an increase in equity related to the extinguishment of debt. On December 8, 2021, the Company entered into a Debt Exchange Agreement (the “December 8 Agreement”) with the Company’s Chief Executive Officer (See Note 8). The December 8 Agreement provided for the issuance by the Company of 125,000 shares of common stock, at the rate of $6.00 per share, or an aggregate of $750,000, in exchange for $750,000 of existing loans by Mr. Siokas to the Company. On December 8, 2021, the fair value of the Company’s shares of common stock was $3.44 per share. For the year ended December 31, 2021, the Company recorded $750,000 as a capital contribution and an increase in equity in accordance with ASC 850-10-20 due to the related party relationship and ASC 470-50-40-2 which provides guidance on extinguishments of related party debt. Accordingly, extinguishment transactions between related entities are in essence capital transaction, and no gain is recorded in the consolidated statements of operations for the difference between the fair value of $3.44 per share and the exchange rate of $6.00 per share. Debt Conversions During the year ended December 31, 2021, the Company issued 213,382 shares of common stock to convert $550,144 of principal and accrued interest in accordance with a convertible promissory note issued to Platinum (as defined in Note 10). The Company recorded $959,025 as a capital contribution and an increase in equity related to the conversion of $550,144 of debt, $284,169 for the reduction of the derivative liability recorded as additional paid-in capital, and $124,711 recorded as a loss on debt extinguishment. Potentially Dilutive Securities No options warrants or other potentially dilutive securities other than those disclosed above have been issued as of December 31, 2021.

INCOME TAXES

INCOME TAXES	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
INCOME TAXES
INCOME TAXES	NOTE 7 – INCOME TAXES The Company is incorporated in the United States of America and is subject to United States federal taxation. No provisions for income taxes have been made as the Company had no U.S. taxable income for the six months ended June 30, 2022 and 2021. The Company’s Greece subsidiaries are governed by the income tax laws of Greece. The corporate tax rate in Greece is 22% on income reported in the statutory financial statements after appropriate tax adjustments. The Company’s United Kingdom subsidiaries are governed by the income tax laws of the United Kingdom. The corporate tax rate in the United Kingdom is 19% on income reported in the statutory financial statements after appropriate tax adjustments. As of June 30, 2022 and 2021, the Company’s effective tax rate differs from the U.S. federal statutory tax rate primarily due to a valuation allowance recorded against net deferred tax assets in in the United States. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. As of June 30, 2022 and December 31, 2021, the Company has maintained a valuation allowance against all net deferred tax assets in the United States only. Foreign valuation allowances were reversed on December 31, 2020. For the three months ended June 30, 2022, and 2021, the Company has recorded tax expense in any jurisdiction where it is subject to income tax, in the amount of $9,563 and $216,503, respectively, on the condensed consolidated statements of operations and comprehensive loss. For the six months ended June 30, 2022, and 2021, the Company has recorded tax expense in the amount of $75,230 and tax benefit of $99,409, respectively, on the condensed consolidated statements of operations and comprehensive loss.	NOTE 7 – INCOME TAXES The Company provides for income taxes using an asset and liability approach under which deferred income taxes are provided for based upon enacted tax laws and rates applicable to periods in which the taxes become payable. The domestic and foreign components of income (loss) before (benefit) provision for income taxes were as follows: 12/31/2021 12/31/2020 Domestic $ (8,365,297 ) $ (2,901,276 ) Foreign 517,659 4,099,597 $ (7,847,638 ) $ 1,198,321 The components of the (benefit) provision for income taxes are as follows: 12/31/2021 12/31/2020 Current tax provision Federal $ - $ - State - - Foreign 802,364 555,965 Total current tax provision $ 802,364 $ 555,965 Deferred tax provision Domestic $ - $ - State - - Foreign (688,354 ) (178,430 ) Total deferred tax provision $ (688,354 ) $ (178,430 ) Total current provision $ 114,010 $ 377,535 The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2021 and 2020 is as follows: 12/31/2021 12/31/2020 US Income (loss) before income taxes $ (7,847,639 ) $ 1,198,321 Taxes under statutory US tax rates $ (1,648,004 ) $ 251,647 Increase (decrease) in taxes resulting from: Increase in valuation allowance $ 3,001,899 $ 216,518 Foreign tax rate differential $ (24,977 ) $ (55,540 ) Permanent differences $ (734,428 ) $ (218,216 ) US tax on foreign income $ 493,028 $ 604,419 163(j) catch up (76,888 ) - Prior period adjustments $ 52,034 $ (97,829 ) State taxes $ (948,654 ) $ (323,464 ) Income tax expense $ 114,010 $ 377,535 Companies subject to the Global Intangible Low-Taxed Income provision (GILTI) have the option to account for the GILTI tax as a period cost if and when incurred, or to recognize deferred taxes for outside basis temporary differences expected to reverse as GILTI. We have elected to account for GILTI as a period cost. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following: 12/31/2021 12/31/2020 Net operating loss carryforward $ 4,515,900 $ 1,494,424 Capital loss carryforward 801,744 801,744 Section 163(j) carryforward - - Nonqualified stock options 96,104 170,297 Foreign exchange 13,438 - Allowance for doubtful accounts 374,604 - Accrued expenses 528,895 7,389 Mark to market adjustment in securities 358,761 357,829 Lease liability 253,620 247,797 Gain on extinguishment of debt - 179,958 Depreciation (6,765 ) 4,226 Total deferred tax assets 6,936,211 3,263,664 Intangibles (8,139 ) (10,729 ) Inventory (14,728 ) - Right of use asset (243,207 ) (253,818 ) Goodwill (10,979 ) (14,473 ) Total deferred tax liabilities (277,053 ) (279,020 ) Valuation allowance (5,808,384 ) (2,806,214 ) Net deferred tax assets (liabilities) $ 850,774 $ 178,430 At December 31, 2021, the Company had U.S. net operating loss ("NOL") carryforwards of approximately $12,513,177 that may be offset against future taxable income, subject to limitation under IRC Section 382. Of the $12.5 million Federal NOL carryforwards, $2.5 million are pre-2018 and begin to expire in 2031. The remaining balance of $10 million, are limited to utilization of 80% of taxable income but do not have an expiration. At December 31, 2021, the Company had fully utilized all the Greek NOL carryforwards and has an NOL of $546,683 in the UK. A valuation allowance exists for the U.S. operations, but not for the non-U.S. operations, based on a more likely than not criterion and in consideration of all available positive and negative evidence. ASC 740 requires that the tax benefit of net operating losses ("NOLs"), temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is "more likely than not." Realization of the future tax benefits is dependent on the Company's ability to generate sufficient taxable income within the carryforward period. Because of the Company's history of domestic operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a valuation allowance, on our U.S. net domestic deferred tax assets. In 2020, foreign (Greece and United Kingdom) valuation allowances were released, aggregating $200,000. Management considered all available evidence to when evaluating the realizability of foreign deferred tax assets by jurisdiction and concluded primarily based upon a strong earnings history that these deferred tax assets were more-likely-than-not realizable. The Company applied the "more-likely-than-not" recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in no unrecognized tax benefits as of December 31, 2021 and December 31, 2020, respectively. We recognize interest accrued related to unrecognized tax benefits and penalties as income tax expense. The Company files income tax returns in Illinois, United States, and in foreign jurisdictions including Greece, and United Kingdom. As of December 31, 2021, all domestic tax years are open to tax authority examination due the availability of net operating loss deductions, 2010 through 2021. In Greece, the statute of limitations is open for five years, 2016 through 2021. In United Kingdom, the statute of limitations is open for four years, 2017 through 2021. Currently, there are no ongoing tax authority income tax examinations. As of December 31, 2021, the Company had $1.7 million of undistributed earnings and profits for which no deferred tax liabilities have been recorded, since the Company intends to indefinitely reinvest such earnings to fund the international operations and certain obligations of the subsidiary. Should the above undistributed earnings be distributed in the form of dividends or otherwise, the distributions would result in $350.3 thousand of tax expense.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS Doc Pharma S.A. As of June 30, 2022, the Company has a prepaid balance of $4,120,335 and an accounts payable balance of $511,143, resulting in a net prepaid balance of $3,609,192 to Doc Pharma S.A. related to purchases of inventory. Additionally, the Company has a receivable balance of $2,299,982. As of December 31, 2021, the Company has a prepaid balance of $3,263,241 to Doc Pharma S.A. related to purchases of inventory. Additionally, the Company had a receivable balance of $2,901,300 and an accounts payable balance of $565,756. During the three months ended June 30, 2022 and 2021, the Company purchased a total of $624,627 and $1,091,118 of products from Doc Pharma S.A., respectively. During the three months ended June 30, 2022 and 2021 the Company had $34,132 and $523,712 in revenue from Doc Pharma S.A., respectively. During the six months ended June 30, 2022 and 2021, the Company purchased a total of $1,328,435 and $1,413,924 of products from Doc Pharma S.A., respectively. During the six months ended June 30, 2022 and 2021 the Company had $418,717 and $796,917, in revenue from Doc Pharma S.A., respectively. On October 10, 2020, the Company entered into a contract manufacturer outsourcing “CMO” agreement with DocPharma whereby Doc Pharma is responsible for the development and manufacturing of pharmaceutical products and nutritional supplements according to the Company’s specifications based on strict pharmaceutical standards and good manufacturing practice (“GMP”) protocols as the National Organization for Medicines requires. The Company has the exclusive ownership rights for trading and distribution of its own branded nutritional supplements named “Sky Premium Life ® On May 17, 2021, Doc Pharma and the Company entered into a Research and Development “R&D” agreement whereby Doc Pharma will be responsible for the research, development, design, registration, copy rights and licenses of 250 nutritional supplements for the final products called Sky Premium Life ® Doc Pharma S.A is considered a related party to the Company due to the fact that the CEO of Doc Pharma is the wife of Grigorios Siokas, the Company’s CEO and principal shareholder, who also served as a principal of Doc Pharma S.A. in the past. Notes Payable – Related Party A summary of the Company’s related party notes payable as of June 30, 2022 and December 31, 2021 is presented below: June 30, 2022 December 31, 2021 Beginning balance $ 464,264 $ 501,675 Foreign currency translation (34,826 ) (37,411 ) Ending balance $ 429,438 $ 464,264 Grigorios Siokas On December 20, 2018, the €1,500,000 ($1,718,400) note payable, originally borrowed pursuant to a Loan Agreement with a third-party lender, dated March 16, 2018, was transferred to Grigorios Siokas. The note bears an interest rate of 4.7% per annum, matured on March 18, 2019 pursuant to the original agreement and was extended until December 31, 2021. The note is not in default and the maturity date has been extended again until December 31, 2023. As of December 31, 2021 the Company had an outstanding balance of €400,000 ($452,720) and accrued interest of €177,313 ($200,683). As of June 30, 2022, the Company has an outstanding balance of €400,000 ($418,760) and accrued interest of €186,645 ($195,399). Grigorios Siokas is the Company’s CEO and principal shareholder. Dimitrios Goulielmos On November 21, 2014, the Company entered into an agreement with Dimitrios Goulielmos, as amended on November 4, 2016. Pursuant to the amendment, this loan has no maturity date and is non-interest bearing. As of December 31, 2021, the Company had a principal balance of €10,200 ($11,544). A principal balance of €10,200 ($10,678) remained as of June 30, 2022. Dimitrios Goulielmos is a current director and former CEO of the Company. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the six months ended June 30, 2022, the Company recorded a gain of $34,826. Loans Payable – Related Party A summary of the Company’s related party loans payable during the six months ended June 30, 2022, and the year ended December 31, 2021 is presented below: June 30, 2022 December 31, 2021 Beginning balance $ 1,293,472 $ 1,629,246 Proceeds 526,612 6,377,156 Payments (449,643 ) (133,552 ) Conversion of debt - (6,000,000 ) Settlement of lawsuit - (600,000 ) Foreign currency translation (88,639 ) 20,623 Ending balance $ 1,281,802 $ 1,293,472 Grigorios Siokas From time to time, Grigorios Siokas loans the Company funds in the form of non-interest bearing, no-term loans. As of December 31, 2021, the Company had an outstanding principal balance under these loans of $1,293,472 in loans payable to Grigorios Siokas. During the six months ended June 30, 2022, the Company borrowed additional proceeds of €407,500 ($426,612), and $100,000 and repaid €429,500 ($449,643) of these loans. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the six months ended June 30, 2022 the Company recorded a gain of $88,639. Except as set forth above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five percent or more of our common stock, or family members of such persons.	NOTE 8 – RELATED PARTY TRANSACTIONS On the date of our inception, we issued 2 million shares of our common stock to our then three officers and directors which were recorded at no value (offsetting increases and decreases in common stock and additional paid-in capital). Doc Pharma S.A. As of December 31, 2021, the Company has a prepaid balance of $3,263,241 to Doc Pharma S.A. related to purchases of inventory. Additionally, the Company has a receivable balance of $2,901,300 and an accounts payable balance of $565,756. As of December 31, 2020, the Company has a prepaid balance of $3,468,653 to Doc Pharma S.A. related to purchases of inventory. Additionally, the Company had a receivable balance of $3,468,564. During the years ended December 31, 2021 and 2020, the Company purchased a total of $3,084,805 and $5,983,809 of products from Doc Pharma S.A., respectively. During the years ended December 31, 2021 and 2020 the Company had $978,321 and $2,843,260 revenue from Doc Pharma S.A., respectively. On October 10, 2020, the Company entered into a contract manufacturer outsourcing (“CMO”) agreement with Doc Pharma whereby Doc Pharma is responsible for the development and manufacturing of pharmaceutical products and nutritional supplements according to the Company’s specifications based on strict pharmaceutical standards and Good Manufacturing Practice (“GMP”) protocols, as the National Organization for Medicines requires. The Company has the exclusive ownership rights for trading and distribution of its own branded nutritional supplements named “Sky Premium Life ® On May 17, 2021, Doc Pharma and the Company entered into a Research and Development (“R&D”) agreement whereby Doc Pharma is responsible for the research, development, design, registration, copy rights and licenses of 250 nutritional supplements for the final products called Sky Premium Life ® Doc Pharma S.A is considered a related party to the Company due to the fact that the CEO of Doc Pharma is the wife of Grigorios Siokas, the Company’s CEO and principal shareholder, who also served as a principal of Doc Pharma S.A. in the past. Notes Payable – Related Party A summary of the Company’s related party notes payable during the years ended December 31, 2021 and 2020 is presented below: 2021 2020 Beginning Balance $ 501,675 $ 1,375,532 Payments - (996,136 ) Foreign currency translation (37,411 ) 122,279 Ending Balance $ 464,264 $ 501,675 Grigorios Siokas On December 20, 2018, the €1,500,000 ($1,718,400) note payable, originally borrowed pursuant to a Loan Agreement with a third-party lender, dated March 16, 2018, was transferred to Grigorios Siokas. The note bears an interest rate of 4.7% per annum and matured on March 18, 2019, pursuant to the original agreement. The note is not in default and the maturity date has been extended until December 31, 2021. As of December 31, 2020, the note had an outstanding principal balance of €400,000 ($489,200) and accrued interest of €158,287 ($193,585). As of December 31, 2021, the Company has an outstanding balance of €400,000 ($452,720) and accrued interest of €177,313 ($200,683). Grigorios Siokas is the Company’s CEO and principal shareholder. Dimitrios Goulielmos On November 21, 2014, the Company entered into an agreement with Dimitrios Goulielmos, as amended on November 4, 2016. Pursuant to the amendment, this loan has no maturity date and is non-interest bearing. As of December 31, 2020, the Company had a principal balance of €10,200 ($12,475). A principal balance of €10,200 ($11,544) remained as of December 31, 2021. Dimitrios Goulielmos is a current director and former CEO of the Company. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the years ended December 31, 2021, and 2020, the Company recorded a foreign currency translation gain of $37,411 and a loss of $122,279, respectively. Loans Payable – Related Party A summary of the Company’s related party loans payable during the years ended December 31, 2021 and 2020 is presented below: 2021 2020 Beginning balance $ 1,629,246 $ 1,026,264 Proceeds 6,377,156 725,563 Payments (133,552 ) (149,695 ) Conversion of debt (6,000,000 ) - Settlement of lawsuit (600,000 ) - Foreign currency translation 20,623 27,114 Ending balance $ 1,293,472 $ 1,629,246 Grigorios Siokas From time to time, Grigorios Siokas loans the Company funds in the form of non-interest bearing, no-term loans. As of December 31, 2020, the Company had an outstanding principal balance under these loans of $1,629,246 in loans payable to Grigorios Siokas. On May 10, 2021, the Company entered into a Debt Exchange agreement (“May Debt Exchange”) related to a lawsuit from on or about July 25, 2019, whereby Mark Rubenstein, individually and as a shareholder of the Company, brought the action styled Rubenstein v. Siokas, et al. During the year ended December 31, 2021, the Company entered into various agreements (as defined in Note 6) with Mr. Siokas whereby the Company exchanged an aggregate total of $6,000,000 of debt into 1,000,000 shares of Common Stock at above market prices. During the year ended December 31, 2021, the Company borrowed additional proceeds of €1,803,000 ($2,040,635), €230,000 ($275,306) and $4,061,215 and repaid €118,000 ($133,552) of these loans. During the year ending December 31, 2021, the Company converted $2,250,000 of the July 20 Note at a conversion price of $6.00 and issued 375,000 shares of common stock. As of December 31, 2021, the Company had an outstanding balance under these notes and loans of $1,293,472. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the years ended December 31, 2021 and 2020, the Company recorded a loss of $20,623 and $27,114, respectively. Except as set forth above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five percent or more of our common stock, or family members of such persons.

LINES OF CREDIT

LINES OF CREDIT	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
LINES OF CREDIT
LINES OF CREDIT	NOTE 10 – LINES OF CREDIT A summary of the Company’s lines of credit as of June 30, 2022 and December 31, 2021 is presented below: June 30, 2022 December 31, 2021 National $ 2,651,660 $ 3,265,236 Alpha 811,432 947,333 Pancreta 790,193 489,985 National – COVID 314,885 407,174 EGF 419,335 - Subtotal 4,987,505 5,109,728 Reclassification of National-COVID – Long-term (191,825 ) (366,171 ) Ending balance $ 4,795,680 $ 4,743,557 The line of credit with National Bank of Greece is renewed annually with current interest rates of 6.00%, 4.35% (“COSME 2” facility) and 4.35% (plus the 6-month Euribor plus any contributions currently in force by law on certain lines of credit), (“COSME 1” facility). The maximum borrowing allowed for the 6% line of credit was $3,114,527 and $2,489,960 as of June 30, 2022 and December 31, 2021, respectively. The outstanding balance of the facility was $1,685,579 and $2,185,413, as of June 30, 2022 and December 31, 2021, respectively. The maximum borrowing allowed for the 4.35% lines of credit, was $1,046,900 and $1,131,800 as of June 30, 2022 and December 31, 2021, respectively. The outstanding balance of the facilities was $966,081 and $1,079,823 as of June 30, 2022 and December 31, 2021, respectively. The line of credit with Alpha Bank of Greece is renewed annually with a current interest rate of 6.00%. The maximum borrowing allowed was $1,046,900 and $1,131,800 as of June 30, 2022 and December 31, 2021, respectively. The outstanding balance of the facility was $811,432 and $947,333, as of June 30, 2022 and December 31, 2021, respectively. The Company entered into a line of credit with Pancreta Bank on February 23, 2021. The line of credit is renewed annually with a current interest rate of 6.10%. The maximum borrowing allowed as of June 30, 2022 and December 31, 2021 was $1,046,900 and $565,900, respectively. The outstanding balance of the facility as of June 30, 2022 and December 31, 2021, was $790,193 and $489,985, respectively. The Company entered into a line of credit with EGF on June 06, 2022. The line of credit is renewed annually with a current interest rate of 4.49%. The maximum borrowing allowed as of June 30, 2022 was $418,760. The outstanding balance of the facility as of June 30, 2022 was $419,335. Interest expense for the three months ended March 31, 2022 and 2021, was $17,175 and $16,501, respectively and for the six months ended June 30, 2022 and 2021, was $133,786 and $153,589, respectively. Under the agreements, the Company is required to maintain certain financial ratios and covenants. These lines of credit were assumed in the Company’s acquisition of Cosmofarm. As of June 30, 2022 and December 31, 2021, the Company was in compliance with these ratios and covenants. The above lines of credit are guaranteed and backed by customer receivable checks and they are not considered to be a direct debt obligation for the Company. They are a type of factoring, where the postponed customer checks are assigned by the Company to the bank, in order to be financed at a pre-agreed rate. COVID-19 Government Funding Interest expense for six months ended June 30, 2022 and 2021 was $378 and $0, respectively.	NOTE 9 – LINES OF CREDIT A summary of the Company’s lines of credit as of December 31, 2021, and 2020 is presented below: December 31, 2021 December 31, 2020 National $ 3,265,236 $ 3,540,550 Alpha 947,333 1,106,894 Pancreta 489,985 - National – COVID 407,174 429,240 Subtotal 5,109,728 5,076,684 Reclassification of National-COVID – Long-term (366,171 ) (502,869 ) Ending balance $ 4,743,557 $ 4,573,815 The line of credit with National Bank of Greece is renewed annually with current interest rates of 6.00%, 4.35% (“COSME 2” facility) and 4.35% (plus the 6-month Euribor plus any contributions currently in force by law on certain lines of credit), (“COSME 1” facility). The maximum borrowing allowed for the 6% line of credit was $2,489,960 and $2,690,600 as of December 31, 2021 and 2020, respectively. The outstanding balance of the facility was $2,185,413 and $2,411,182, as of December 31, 2021 and 2020, respectively. The maximum borrowing allowed for the 4.35% lines of credit, was $1,131,800 and $1,223,000 as of December 31, 2021 and 2020, respectively. The outstanding balance of the facilities was $1,079,823 and $1,129,368 as of December 31, 2021 and 2020, respectively. The line of credit with Alpha Bank of Greece is renewed annually with a current interest rate of 6.00%. The maximum borrowing allowed was $1,131,800 and $1,123,000 as of December 31, 2021 and 2020, respectively. The outstanding balance of the facility was $947,333 and $1,106,894, as of December 31, 2021 and 2020, respectively. The Company entered into a line of credit with Pancreta Bank on February 23, 2021. The line of credit is renewed annually with a current interest rate of 6.10%. The maximum borrowing allowed as of December 31, 2021 was $565,900. The outstanding balance of the facility as of December 31, 2021, was $489,985. Interest expense for the year ended December 31, 2021 and 2020, was $283,415 and $270,655, respectively. Under the agreements, the Company is required to maintain certain financial ratios and covenants. These lines of credit were assumed in the Company’s acquisition of Cosmofarm. As of the years ended December 31, 2021 and 2020, the Company was in compliance with these ratios and covenants. The above lines of credit are guaranteed and backed by customer receivable checks and they are not considered to be a direct debt obligation for the Company. They are a type of factoring, where the postponed customer checks are assigned by the Company to the bank, in order to be financed at a pre-agreed rate. COVID-19 Government Funding On June 23, 2020, the Company’s subsidiary, Cosmofarm, entered into an agreement with the “National Bank of Greece SA” (the “Bank”) to borrow a maximum of €500,000 ($611,500) under a proposed plan which will operate the same as the line of credit above. The proposed plan has a maturity date of sixty (60) months from the date of the first disbursement, which includes a grace period of nine months. The total amount of the initial proceeds was paid in 3 equal monthly installments. The line of credit is interest bearing from the date of receipt and is payable every three (3) months at an interest rate of 2.7%. The outstanding balance was €359,758 ($407,174) and €350,973 ($429,240) at December 31, 2021 and 2020, respectively of which $366,171 is classified as Lines of credit - long-term portion on the consolidated balance sheet. Interest expense for the years ended December 31, 2021 and 2020 was $1,753 and $3,910, respectively.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
CONVERTIBLE DEBT
CONVERTIBLE DEBT	NOTE 11 – CONVERTIBLE DEBT A summary of the Company’s convertible debt at June 30, 2022 and December 31, 2021 is presented below: June 30, 2022 December 31, 2021 Beginning balance convertible notes $ 640,000 $ 1,447,000 New notes - 625,000 Payments - (907,000 ) Conversion to common stock (15,000 ) (525,000 ) Subtotal notes 625,000 640,000 Debt discount at year end (5,744 ) (258,938 ) Convertible note payable, net of discount $ 619,256 $ 381,062 All of the convertible debt is classified as short-term within the condensed consolidated balance sheet as it all matures and will be paid back within fiscal year 2022. December 21, 2020 Securities Purchase Agreement On December 21, 2020 the Company entered into a convertible promissory note with Platinum Point Capital, LLC (the “Holder”, “Lender” or “Platinum”) pursuant to a Securities Purchase Agreement (the “SPA”). The Company issued the $540,000 Note in exchange for $500,000 in cash and included a $40,000 Original Issue Discount (“OID”) and paid $3,000 in financing costs. The principal amount together with interest at the rate of eight percent (8.0%) per annum, compounded annually (the “Interest Rate”), will be paid to the Lenders on or before the Maturity Date (December 31, 2021 or as defined below). Accrued interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. In the event that on or before the Maturity Date, the Note either (i) had not been converted or have not been otherwise satisfied in full or (ii) an Event of Default (as defined in the SPA) occurs, then the applicable rate of interest on the outstanding amount of the Note since inception shall be the Interest Rate plus eighteen percent (18.0%), the Default Interest. Unless previously converted, the principal and accrued interest on the Note is due and payable in cash (USD) upon the earlier of (i) December 31, 2021, (ii) a Change of Control (as defined in the SPA) or (iii), an Event of Default (collectively, the “Maturity Date”). During the year ended December 31, 2021, the Company converted an aggregate total of $525,000 in principal and $25,144 in accrued interest and fees into 213,382 shares of the Company’s common stock at an average price per share of $2.58. Upon conversion, the 213,382 shares were issued at a fair value of $959,024 which was recorded as equity. Accordingly, upon conversion, the Company reduced its outstanding debt by $550,144, reduced its derivative liability by $284,169, and recorded a loss on extinguishment of $124,711. On May 1, 2022 the Company issued 39,339 shares of common stock to convert $26,515 principal and accrued interest. Following the conversion, the outstanding balance of the above Note is $0. Upon conversion, the 39,339 shares were issued at a fair value of $38,144 which was recorded as equity. Accordingly, upon conversion, the Company reduced its derivative liability by $11,629 (see Note 8). The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a derivative liability which is accounted for separately. The Company determined a derivative liability exists and determined that the embedded derivative was valued at $456,570 which was recorded as a debt discount, and together with the original issue discount and transaction expenses of $43,000, in the aggregate of $499,570, is being amortized over the life of the loan. As of June 30, 2022 and December 31, 2021 the full amount of the debt discount has been amortized. As of June 30, 2022 and December 31, 2021, the fair value of the derivative liability was $0 and $5,822, respectively. For the six months ended June 30, 2022 and 2021, the Company record a loss on the change in fair value of the derivative of $5,807 and $65,787, respectively. January 7, 2021 Subscription Agreement On January 7, 2021 (the “Issue Date”), the Company entered into a subscription agreement with an unaffiliated third party, whereby the Company issued for a purchase price of $100,000 in principal amount, a convertible promissory note. The note bears an interest rate of 8% per annum and matured on the earlier of (i) consummation of the Company listing its common shares on the NEO Stock Exchange or (ii) October 31, 2021. Upon the consummation of a NEO listing, the total principal and accrued interest outstanding on the note will convert into shares of the Company’s common stock at a 25% discount to the prices of the common shares sold in the financing to be conducted in conjunction with the NEO listing. In the event that a NEO listing is not consummated on or before October 31, 2021, the note holder will have the option, in part or in full, to have the note repaid with interest, or convert the note into Company common stock at a 25% discount to the 30-day volume-weighted average price of the Common Shares on the most senior stock exchange in North American on which the common shares are trading prior to conversion. As of June 30, 2022, the Company had a principal balance of $100,000 and had accrued $11,739 in interest expense. The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a derivative liability which is accounted for separately. The Company measured the embedded derivative valued at $62,619 which was recorded as a debt discount and additional paid-in capital and is being amortized over the life of the loan. As of June 30, 2022 and December 31, 2021, $62,619 of the debt discount has been amortized. As of June 30, 2022 and December 31, 2021, the fair value of the derivative liability was $41,292 and $39,843, respectively. For the six months ended June 30, 2022, the Company recorded a loss of $1,449 from the change in fair value of derivative liability as other income in the consolidated statements of operations and comprehensive income (loss) compared to a gain of $22,082 for the 6 month period ended June 30, 2021. Convertible Promissory Note and Securities Purchase Agreement On September 17, 2021 (the “Issue Date”), the Company entered into a convertible promissory note and securities purchase agreement with an unaffiliated third party. Convertible Promissory Note The Company issued the convertible promissory note for a purchase price of $525,000 in principal amount for cash proceeds of $500,000. The note was issued with an original issue discount (“OID”) of $25,000, bears an interest rate of 10% per annum and matures on the earlier of (i) the consummation of the Company listing its common shares on the Nasdaq Stock Market or (ii) September 17, 2022. Upon the consummation of a Nasdaq listing, the total principal and accrued interest outstanding on the note will convert into shares of the Company’s common stock at a 30% discount to the prices of the common shares sold in the financing to be conducted in conjunction with the Nasdaq listing, subject to a conversion floor of $3.00. The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature which is accounted for separately as of December 31, 2021. The Company measured the beneficial conversion feature’s intrinsic value on September 17, 2021, at $294,000 which, together with the OID of $25,000 was recorded as a debt discount and is being amortized over the life of the loan. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. As a result of the adoption, on January 1, 2022, the Company recorded an increase to additional paid-in capital of $294,000 and a decrease to accumulated deficit of $53,248. For the year ended December 31, 2021, $60,063 of the debt discount has been amortized. As of December 31, 2021, the Company had accrued a principal balance of $525,000, had accrued $15,166 in interest expense, and had remaining debt discount of $258,938 which resulted in a net convertible note payable of $266,063. For the six months ended June 30, 2022, $294,000 of the debt discount was reduced and recorded as a reduction to additional paid-in capital and has been amortized. As of June 30, 2022, the Company had accrued a principal balance of $525,000, had accrued $41,416 in interest expense, and had remaining debt discount of $5,744 which resulted in a net convertible note payable of $519,256. Derivative Liabilities The table below provides a summary of the changes in fair value, including net transfers in and/or out of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2022: Amount Balance on January 1, 2022 $ 45,665 Issuances to debt discount - Reduction of derivative related to conversions (11,629 ) Change in fair value of derivative liabilities 7,255 Balance on June 30, 2022 $ 41,291 The fair value of the derivative conversion features and warrant liabilities as of June 30, 2022 and December 31, 2021 were calculated using a Monte-Carlo option model valued with the following assumptions: June 30, December 31, 2022 2021 Dividend yield 0 % 0 % Expected volatility 113.3 % 106.8%-107.3% Risk free interest rate 2.37 % 0.41%-0.44% Contractual terms (in years) .50 .50 – .52	NOTE 10 – CONVERTIBLE DEBT A summary of the Company’s convertible debt during the years ended December 31, 2021 and 2020 is presented below: 2021 2020 Beginning balance convertible notes $ 1,447,000 $ 1,500,000 New notes 625,000 540,000 Payments (907,000 ) (593,000 ) Conversion to common stock (525,000 ) - Subtotal notes 640,000 1,447,000 Debt discount at year end (258,938 ) (494,973 ) Convertible note payable, net of discount $ 381,062 $ 952,027 All of the convertible debt is classified as short-term within the consolidated balance sheet as it all matures and will be paid back within fiscal year 2022. Securities Purchase Agreement executed on May 15, 2019 On May 15, 2019, the Company entered into a Securities Purchase Agreement with an institutional investor (the “Buyer”). Upon the closing of this financing, on May 17, 2019, the Company issued a Senior Convertible Note (the “May 2019 Note”) to the Buyer in the principal amount of $1,500,000. The May 2019 Note provided that the Company will repay the principal amount of the May 2019 Note on or before March 15, 2020. On March 23, 2020, the Company entered into a Forbearance and Amendment Agreement (the “Agreement”) with an institutional investor (the “Buyer”). The Agreement provides that the Buyer will (a) forbear (i) from taking any action with respect to the Existing Default and (ii) from issuing any demand for redemption of the Note on the basis of the Existing Default until the earlier of: (1): (September 16, 2020 (or, if earlier, such date when all amounts outstanding under the Note shall be paid in full or converted into shares of Common Stock in accordance therewith) and (2) the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date”), (b) during the Forbearance Period waive the prepayment premium to any Company Optional Redemption, and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to September 16, 2020. The Scheduled Required Prepayments are $100,000 upon signing the Agreement and five (5) monthly payments thereafter aggregating $200,000 with all amounts outstanding under the Note due on September 16, 2020. In addition, there are mandatory prepayments in the event the Company completes a Subsequent Placement (as defined) or long-term debt (other than from the Buyer or from officers and directors and advisors of the Company) or factoring and purchase order indebtedness, the Company shall affect a Company Optional Redemption amount equal to 50% of the gross proceeds (less reasonable expenses of counsel and any investment bank) together with all Scheduled Required Payments. On September 23, 2020, the Company entered into a Second Forbearance and Amendment Agreement (the “Agreement”) with an institutional investor (the “Buyer”). The Note was due to be paid in full on or before September 16, 2020 and was not paid (the “Existing Default”). The Note provides that upon an Event of Default, the Buyer may, among other things, require the Company to redeem all or a portion of the Note at a redemption premium of 120%, multiplied by the product of the conversion rate ($6.00 per share) and the then current market price. The Agreement provides that the Buyer will (a) forbear (i) from taking any action with respect to the Existing Default and (ii) from issuing any demand for redemption of the Note on the basis of the Existing Default until the earlier of: (1): June 16, 2021 (or, if earlier, such date when all amounts outstanding under the Note shall be paid in full or converted into shares of Common Stock in accordance therewith) and (2) the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date), (b) during the Forbearance Period (as defined) waive the prepayment premium to any Company Optional Redemption (which will result in the 120% redemption premium effectively replaced with 100%), and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to June 16, 2021. The Scheduled Required Prepayments are $63,000 upon signing the Agreement and eight (8) monthly payments thereafter aggregating $480,000 with the remaining $607,000 outstanding under the Note due on June 16, 2021. In addition, there are mandatory prepayments in the event the Company completes a Subsequent Placement (as defined) or long-term debt (other than from the Buyer or from officers, directors and 10% or greater shareholders of the Company) or factoring and purchase order indebtedness, the Company shall affect a Company Optional Redemption amount equal to 50% of the gross proceeds (less reasonable expenses of counsel and any investment bank) together with all Scheduled Required Payments. On June 18, 2021, the Company modified the terms of its outstanding debt by entering into a Third Forbearance Agreement (the “Third Agreement”) whereby the Company agreed to make certain payments to the creditor and the creditor will accept such payments as full discharge of the outstanding debt. The Agreement provides that the Buyer will (a) forbear (i) from taking any action with respect to the Existing Default and (ii) from issuing any demand for redemption of the Note on the basis of the Existing Default until the earlier of: (1): November 16, 2021 (or, if earlier, such date when all amounts outstanding under the Note shall be paid in full or converted into shares of Common Stock in accordance therewith) and (2) the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date), (b) during the Forbearance Period (as defined) waive the prepayment premium to any Company Optional Redemption (which will result in the 120% redemption premium effectively replaced with 100%), and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to November 16, 2021. The Scheduled Required Prepayments are $62,000 upon the first scheduled required prepayment and five (5) payments thereafter aggregating $287,000 with the remainder outstanding under the Note due on November 16, 2021. In addition, there are mandatory prepayments in the event the Company completes a Subsequent Placement (as defined) or long-term debt (other than from the Buyer or from officers, directors and 10% or greater shareholders of the Company) or factoring and purchase order indebtedness, the Company shall effect a Company Optional Redemption amount equal to 50% of the gross proceeds (less reasonable expenses of counsel and any investment bank) together with all Scheduled Required Payments. The Company performed an analysis to determine if at least a 10% difference between the present value of the new loan’s cash flows and the present value of the old loan’s remaining cash flows and determined that yes there is more than a 10% difference. The Company will experience a cash flow increase of approximately 15% due to the modification; therefore, the cash flow is considered substantially different, and the Company has applied extinguishment accounting. The May 2019 Note is convertible at any time by the Holder into 250,000 shares of common stock, par value $0.001 per share at the rate of $6.00 per share, subject to adjustment (the “Conversion Price”). Upon an Event of Default (regardless of whether such event has been cured), the Buyer may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the then Volume-Weighted Average Price (as defined, the “VWAP”). The Company considered the need for the conversion feature to be bifurcated under ASC 815 and determined that it does not meet the requirements. Additionally, the Company determined the effective conversion rate under ASC 470-20 and determined that the instrument is out of the money and no beneficial conversion feature was recorded. The May 2019 Note is senior in right of payment to all other existing and future indebtedness of the Company except Permitted Senior Indebtedness (as defined in the May 2019 Note), including $12 million of senior secured indebtedness of the Company and its subsidiaries under an existing senior loan agreement, plus defined amounts of purchase money indebtedness in connection with bona fide acquisitions. The May 2019 Note includes customary Events of Default and provides that the Buyer may require the Company to redeem (regardless of whether the Event of Default has been cured) all or a portion of the Note at a redemption premium equal to the greater of: (i) the product of the redemption premium of one hundred twenty-five (125%) percent, multiplied by the conversion amount, and (ii) the product of the conversion rate ($6.00 per share) multiplied by the product of 125% multiplied by the then current market price. The Buyer may also require redemption of the May 2019 Note upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent. The Company has the right to redeem the May 2019 Note at any time, in whole or in part, in cash at a price equal to 120% of the then outstanding conversion amount. Conversion of the May 2019 Note is subject to a blocker provision which prevents any holder from converting the May 2019 Note into shares of common stock if its beneficial ownership of the common stock would exceed 9.99% of the Company’s issued and outstanding common stock. During the year ended December 31, 2020, the Company repaid $593,000 such that as of December 31, 2020, the Company had a principal balance $907,000 on the May 2019 Note and the Company had accrued $15,420 in interest expense. During the year ended December 31, 2021, the Company repaid all outstanding principal and accrued interest on the May 2019 Note. Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for this transaction equal to six (6%) percent of the total gross proceeds of the offering. This 6% fee or $90,000 was recorded as debt discount along with the $30,000 in legal fees associated with the May 2019 Note. These fees will be amortized over the term of the note. $29,509 was amortized during the year ended December 31, 2020 resulting in the full amortization of the fees. December 21, 2020 Securities Purchase Agreement On December 21, 2020 (the “Issue Date”), Cosmos Holdings, Inc. (“Cosmos”, the “Borrower” or the “Company”) entered into a convertible promissory note with Platinum Point Capital, LLC (the “Holder”, “Lender” or “Platinum”) pursuant to a Securities Purchase Agreement (the “SPA”). The Company issued the $540,000 Note in exchange for $500,000 in cash and included a $40,000 Original Issue Discount (“OID”) and paid $3,000 in financing costs. The principal amount together with interest at the rate of eight percent (8.0%) per annum, compounded annually (the “Interest Rate”), will be paid to the Lenders on or before the Maturity Date (December 31, 2021 or as defined below). Accrued interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. In the event that on or before the Maturity Date, the Note either (i) had not been converted or have not been otherwise satisfied in full or (ii) an Event of Default (as defined in the SPA) occurs, then the applicable rate of interest on the outstanding amount of the Note since inception shall be the Interest Rate plus eighteen percent (18.0%), the Default Interest. Unless previously converted, the principal and accrued interest on the Note is due and payable in cash (USD) upon the earlier of (i) December 31, 2021, (ii) a Change of Control (as defined in the SPA) or (iii), an Event of Default (collectively, the “Maturity Date”). On July 14, 2021, August 16, 2021 and December 21, 2021 the Company converted an aggregate total of $525,000 in principal and $25,144 in accrued interest and fees into 213,382 shares of the Company’s common stock at an average price per share of $2.58. As of December 31, 2021, the Company had a principal balance of $15,000 and had accrued $6,568 in interest expense. Upon conversion, the 213,382 shares were issued at a fair value of $959,024 which was recorded as equity. Accordingly, upon conversion, the Company reduced its outstanding debt by $550,144, reduced its derivative liability by $284,169, and recorded a loss on extinguishment of $124,711. The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature and a derivative liability which is accounted for separately. The Company determined a beneficial conversion feature and derivative liability exists because The Company measured the beneficial conversion feature’s intrinsic value on December 16, 2020, and determined that the embedded derivative was valued at $456,570 which was recorded as a debt discount, and together with the original issue discount and transaction expenses of $43,000, in the aggregate of $499,570, is being amortized over the life of the loan. For the years ended December 31, 2021 and 2020, $494,973 and $4,597, respectively, of the debt discount has been amortized. As of December 31, 2021 and 2020, the fair value of the derivative liability was $5,822 and $460,728, respectively. The Company recorded a decrease in the derivative of $284,169 related to the conversions, which was recorded to additional paid-in capital. For the year ended December 31, 2021, the Company recorded a gain of $170,737 and for the year ended December 31, 2020 the Company recorded a loss of $4,158 from the change in fair value of derivative liability as other income in the consolidated statements of operations and comprehensive income (loss). January 7, 2021 Subscription Agreement On January 7, 2021 (the “Issue Date”), the Company entered into a subscription agreement with an unaffiliated third party, whereby the Company issued for a purchase price of $100,000 in principal amount, a convertible promissory note. The note bears an interest rate of 8% per annum and matures on the earlier of (i) consummation of the Company listing its common shares on the NEO Stock Exchange or (ii) October 31, 2021. Upon the consummation of a NEO listing, the total principal and accrued interest outstanding on the note will convert into shares of the Company’s common stock at a 25% discount to the prices of the common shares sold in the financing to be conducted in conjunction with the NEO listing. In the event that a NEO listing is not consummated on or before October 31, 2021, the note holder will have the option, in part or in full, to have the note repaid with interest, or convert the note into Company common stock at a 25% discount to the 30-day volume-weighted average price of the Common Shares on the most senior stock exchange in North American on which the common shares are trading prior to conversion. As of September 30, 2021, the Company had a principal balance of $100,000 and had accrued $5,736 in interest expense. The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature and a derivative liability which is accounted for separately. The Company measured the beneficial conversion feature’s intrinsic value on January 7, 2021, and determined that the embedded derivative was valued at $62,619 which was recorded as a debt discount and additional paid-in capital, and is being amortized over the life of the loan. For the year ended December 31, 2021, $62,619 of the debt discount has been amortized. As of December 31, 2021, the fair value of the derivative liability was $39,843 and for the year ended December 31, 2021, the Company recorded a gain of $22,776 from the change in fair value of derivative liability as other income in the consolidated statements of operations and comprehensive income (loss). Convertible Promissory Note and Securities Purchase Agreement On September 17, 2021 (the “Issue Date”), the Company entered into a convertible promissory note and securities purchase agreement with an unaffiliated third party. Convertible Promissory Note The Company issued the convertible promissory note for a purchase price of $525,000 in principal amount for cash proceeds of $500,000. The note was issued with an original issue discount (“OID”) of $25,000, bears an interest rate of 10% per annum and matures on the earlier of (i) the consummation of the Company listing its common shares on the Nasdaq Stock Exchange or (ii) September 17, 2022. Upon the consummation of a Nasdaq listing, the total principal and accrued interest outstanding on the note will convert into shares of the Company’s common stock at a 30% discount to the prices of the common shares sold in the financing to be conducted in conjunction with the Nasdaq listing, subject to a conversion floor of $3.00. The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature which is accounted for separately. The Company measured the beneficial conversion feature’s intrinsic value on September 17, 2021, at $294,000 which, together with the OID of $25,000 was recorded as a debt discount and is being amortized over the life of the loan. For year ended December 31, 2021, $60,063 of the debt discount has been amortized. As of December 31, 2021, the Company had accrued a principal balance of $525,000, had accrued $15,166 in interest expense, and had remaining debt discount of $258,937 which resulted in a net convertible note payable of $266,063. Securities Purchase Agreement On September 17, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with the third party whereby the Company agree to issue 5,000,000 shares of Series A Preferred Stock at a purchase price of $1.00 per share or $5,000,000 in the aggregate, and a Warrant (the “Warrant”) to purchase 100% of the number of shares of the Company’s Common Stock issuable upon conversion of the Series A Preferred Stock. The Series A Preferred Stock will be convertible into the Company’s Common Stock as determined by multiplying the number of shares of Series A Preferred Stock to be converted by the lower of (i) $4.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five (5) days prior to the date of Uplisting, subject to a floor of $3.00 per share. The shares of common stock issuable upon conversion of Series A Preferred Stock and exercise of the Warrants are subject to a Registration Right Agreement. The Warrant has an exercise price equal to 110% of the Conversion Price of the Series A Preferred Stock and expires five (5) years from the date of issuance. The SPA is subject to certain conditions to close. As of December 31, 2021 and the date of this filing, the conditions to close had not been met, the funds have not been transferred, the preferred shares and the warrant was not issued. The SPA automatically terminated on March 31, 2022. Derivative Liabilities The table below provides a summary of the changes in fair value, including net transfers in and/or out of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2021 and 2020: Amount Balance on January 1, 2020 $ - Issuances to debt discount 456,570 Change in fair value of derivative liabilities 4,158 Balance on December 31, 2020 460,728 Issuances to debt discount 62,619 Reduction of derivative related to conversions (284,169 ) Change in fair value of derivative liabilities (193,513 ) Balance on December 31, 2021 $ 45,665 The fair value of the derivative conversion features and warrant liabilities as of December 31, 2021 and 2020 were calculated using a Monte-Carlo option model valued with the following assumptions: December 31, December 31, 2021 2020 Dividend yield 0 % 0 % Expected volatility 106.8%-107.3 % 140.4%-142.5 % Risk free interest rate 0.41%-0.44 % 0.11%-0.12 % Contractual terms (in years) .50 - .52 1.00 – 1.04

DEBT

DEBT	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
DEBT
DEBT	NOTE 12 – DEBT A summary of the Company’s third-party debt as of June 30, 2022 and December 31, 2021 presented below: June 30, 2022 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 1,299,784 $ 6,207,010 $ 10,077,977 $ 234,117 $ 17,818,888 Proceeds - - 335,008 - 335,008 Payments (157,663 ) (207,035 ) (2,085,132 ) (2,449,830 ) Conversion of debt (1,190,000 ) - - (1,190,000 ) Recapitalized upon debt modification - (129,002 ) (1,003,200 ) - (1,132,202 ) Accretion of debt 77,551 - - 77,751 Foreign currency translation 45,676 (105,056 ) (80,863 ) (19,109 ) (159,352 ) Subtotal 75,348 5,765,917 7,243,790 215,008 13,300,063 Notes payable - long-term - - (992,289 ) (187,337 ) (1,179,626 ) Notes payable - short-term $ 75,348 $ 5,765,917 $ 6,251,501 $ 27,671 $ 12,120,437 December 31, 2021 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 3,302,100 $ 6,446,000 $ 12,631,284 $ 435,210 $ 22,814,594 Proceeds - - 565,900 - 565,900 Payments (141,475 ) (57,835 ) (62,878 ) (3,233 ) (265,421 ) Conversion of debt (1,606,500 ) - (3,010,000 ) - (4,616,500 ) Recapitalized upon debt modification (86,670 ) - - - (86,670 ) Debt forgiveness - - - (169,770 ) (169,770 ) Foreign currency translation (167,671 ) (181,155 ) (46,329 ) (28,090 ) (423,245 ) Subtotal 1,299,784 6,207,010 10,077,977 234,117 17,818,888 Notes payable - long-term - (2,450,000 ) (9,854,906 ) (51,478 ) (12,356,384 ) Notes payable - short-term $ 1,299,784 $ 3,757,010 $ 223,071 $ 182,639 $ 5,462,504 Our outstanding debt as of June 30, 2022 is repayable as follows: June 30, 2022 2022 $ 3,140,672 2023 10,264,053 2024 338,399 2025 342,531 2026 and thereafter 340,992 Total debt 14,426,647 Less: fair value adjustments to assumed debt obligations (1,126,584 ) Less: notes payable - current portion (12,120,437 ) Notes payable - long term portion $ 1,179,626 Loan Facility Agreement On August 4, 2021, the Company entered into an exchange agreement for the existing loan facility agreement with Synthesis Peer-to-Peer Income Fund, whereby the Company agreed to the following: · Issue on August 4, 2021, 321,300 shares of common stock to settle $1,606,500 (€1,350,000) of debt. The Company recorded a gain on settlement of $292,383 upon the issuance of the 321,300 shares · Agreed to issue no more than 238,000 shares of common stock upon approval of the listing of the Company’s common stock on Nasdaq to settle $1,190,000 (€1,000,000) of debt. The Company issued these shares on February 28, 2022. Upon issuance of the 238,000 shares of common stock, the Company recorded a gain on extinguishment of debt in the amount of $216,580 determined using the fair value of the Company’s common stock at the commitment date of $4.09 per share. The Company evaluated the August 4, 2021, exchange agreement for debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment because a substantial conversion feature was added to the debt terms. Upon extinguishment, the Company recorded a loss upon extinguishment in the amount of $6,642 and recorded the new debt at fair value based on the present value of future cash flows using a discount rate of 11.66%. As of June 30, 2022 and December 31, 2021, the Company has accrued interest expense of $17,244 and $4,414, respectively, and the principal balance of the debt is $75,271 and $1,299,784, respectively, which is classified as Notes payable on the unaudited condensed consolidated balance sheet. The debt is subject to acceleration in an Event of Default (as defined in the Notes). This agreement is secured by a personal guaranty of Grigorios Siokas, which is secured by a pledge of 1,000,000 shares of common stock of the Company owned by Mr. Siokas. During Q2 2022, the Company informally agreed with the Lender to extend the maturity of the facility to September 30, 2022. The Company reassessed and adjusted accordingly the accretion of the debt extinguishment effect described above. Trade Facility Agreements On May 12, 2017, SkyPharm entered into a Trade Finance Facility Agreement (the “SkyPharm Facility”) with Synthesis Structured Commodity Trade Finance Limited (the “Lender”) as amended on November 16, 2017, and May 16, 2018. On October 17, 2018, the Company entered into a further amended agreement with Synthesis whereby the current balance on the TFF as of October 1, 2018, which was €4,866,910 ($5,629,555) and related accrued interest of €453,094 ($524,094) would be split into two principal balances of Euro €2,000,000 and USD $4,000,000. Interest on the new balances commenced on October 1, 2018, at 6% per annum plus one-month Euribor, when it is positive, on the Euro balance and 6% per annum plus one-month LIBOR on the USD balance. The USD $4,000,000 loan matured on August 31, 2021. On March 3 rd rd On December 30, 2020, the Company transferred the Euro €2,000,000 loan to a new third-party lender. The terms remained the same except interest will now accrue at 5.5% per annum plus Euribor. The principal is to be repaid in a total of five quarterly installments beginning October 31, 2021 of 50,000 Euro each with a final repayment of 1,800,000 Euro payable on the earlier of 24 months after December 30, 2020 or October 31, 2022. During the year ended December 31, 2021, the Company repaid €50,000 ($56,508) of the €2,000,000 balance such that as of December 31, 2021, the Company had principal balances of €1,950,000 ($2,207,010) and $4,000,000 under the agreements, of which $2,450,000 is classified as notes payable-long term on the consolidated balance sheet and the Company had accrued $10,466 in interest expense related to these agreements. On March 3, 2022, the Company entered into a modification agreement to extend the maturity date to January 10, 2023 and payments under the $4,000,000 loan. The loan was considered a modification under ASC 470-50 because the change in the present value of cash flows is less than 10%. During June 2022, the Company agreed with the Lender to postpone the repayment of an installment of $500,000 due on June 30, 2022 (based on the extension agreement signed on March 3 rd Third Party Debt On November 16, 2015, the Company entered into a Loan Agreement with Panagiotis Drakopoulos, former Director and former Chief Executive Officer, pursuant to which the Company borrowed €40,000 ($42,832) as a note payable from Mr. Drakopoulos. The note bears an interest rate of 6% per annum and was due and payable in full on November 15, 2016. As of December 31, 2021, the Company had an outstanding principal balance of €8,000 ($9,054) and accrued interest of €6,318 ($7,151). As of June 30, 2022, the Company had an outstanding principal balance of €8,000 ($8,375) and accrued interest of €6,557 ($6,865). May 18, 2020, July 3, 2020, and August 4, 2020 Senior Promissory Notes May 18, 2020 Senior Promissory Note On May 18, 2020, the Company executed a Senior Promissory Note (the “May 18 Note”) in the principal amount of $2,000,000 payable to an unaffiliated third-party lender. The May 18 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 18 Note matured on December 31, 2020. The May 18 Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the May 18 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2021 the Company had a principal balance of $2,000,000 on this note, which is classified as Notes payable long-term portion on the consolidated balance sheet. July 3, 2020 Senior Promissory Note On July 3, 2020, the Company executed a Senior Promissory Note (the “July 3 Note”) in the principal amount of $5,000,000 payable to an unaffiliated third-party lender. The July 3 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The July 3 Note matures on June 30, 2022 unless in default. The July 3 Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the July 3 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. The Company used the proceeds from the July 3 Note to repay the principal outstanding on the May 18 Note ($2,000,000), the May 18 Note ($2,000,000), and the February Note ($1,000,000). As of December 31, 2021, the Company had a principal balance of $5,000,000 on this note, which is classified as Notes payable – long term portion on the consolidated balance sheet. As of December 31, 2021, the Company had accrued an aggregate total of $210,574 in interest expense related to these loans. August 4, 2020 Senior Promissory Note On August 4, 2020, the Company executed a Senior Promissory Note (the “August 4 Note”) in the principal amount of $3,000,000 payable to an unaffiliated third-party lender. The August 4 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The August 4 Note matured on December 31, 2020. The August 4 Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the August 4 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. On October 29, 2020, the Company entered into a debt exchange agreement with the lender whereby the Company issued 259,741 shares of common stock at the rate of $3.85 per share in exchange for an aggregate of $1,000,000 principal amount of the existing loan. The fair market value of the Company’s common stock on the date of exchange was $3.11 per share and as such, the Company recorded a gain of $192,205. Interest continued to accrue on the remaining debt and the converted amount until December 31, 2020. As of December 31, 2020, the Company had a principal balance of $2,000,000 on this note and prepaid interest of $8,514. As of December 31, 2021, the Company had a principal balance of $2,000,000 on this note, which is classified as Notes payable – long term portion on the consolidated balance sheet, and $60,166 in accrued interest expense. Modification of May 18, 2020, July 3, 2020, and August 4, 2020 Senior Promissory Notes On February 23, 2022, the Company entered into modification agreements to extend the due dates of the May 18 Note, July 3 Note, and August 4 Note to June 30, 2023 of $9,000,000, in the aggregate. The Company paid restructuring fees totaling $506,087 upon modification. The Company determined the modification should be recorded as debt extinguishment in accordance with ASC 470 because the present value of the remaining cash flows under the terms of the new debt instrument is at least 10% different from the present value of the remaining cash flows under the terms of the original instrument. The Company recorded the new debt at fair value in the amount of $7,706,369 and a gain upon extinguishment in the amount of $787,544. During the six months ended June 30, 2022, the Company made principal payments in the amount of $2,000,000 and recorded non-cash interest expense in the amount of $290,431 for the accretion of debt. As of June 30, 2022, the Company had a principal balance of $5,996,800 in relation to the May 18 Note, July 3 Note, and August 4 Note, in the aggregate. As of June 30, 2022, the Company has accrued an aggregate total of $757,478 of accrued interest on these notes, in the aggregate. November 19, 2020 Debt Agreement On November 19, 2020, the Company entered into an agreement with a third-party lender in the principal amount of €500,000 ($611,500). The note matures on November 18, 2025 and bears an annual interest rate, based on a 360-day year, of 3.3% plus .6% plus 6-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grievance from the first deposit date, which was November 19, 2020, for principal repayment. The principal is to be repaid in 18 quarterly installments of €27,778 with the first payment due 9 months from the first deposit. During the year ended December 31, 2021, the Company repaid €55,556 ($62,878) of the principal and as of December 31, 2021, the Company has accrued interest of $5,642 related to this note and a principal balance of €444,444 ($503,022), of which $377,270 is classified as Notes payable – long term portion on the consolidated balance sheet. During the six months ended June 30, 2022, the Company repaid €55,556 ($58,161) of the principal and as of June 30, 2022, the Company has accrued interest of $8,850 related to this note and a principal balance of €388,889 ($407,128), of which $290,806 is classified as Notes payable – long term portion on the accompanying condensed consolidated balance sheet July 30, 2021 Debt Agreement On July 30, 2021, the Company entered into an agreement with a third-party lender in the principal amount of €500,000 ($578,850). The note matures on August 5, 2026 and bears an annual interest rate that applies to 60% of the principal of the note that is based on a 365-day year, of 5.84% plus 3-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 18 quarterly installments of €27,778 commencing three months from the end of the grace period. As of December 31, 2021, the Company has accrued interest of $3,100 and a principal balance of €500,000 ($565,900), of which $477,637 is classified as Notes payable – long term portion on the consolidated balance sheet. As of June 30, 2022, the Company has accrued interest of $2,721 and a principal balance of €474,231 ($496,473), of which $386,181 is classified as Notes payable – long term portion on the accompanying condensed consolidated balance sheet. June 9, 2022 Debt Agreement On June 9, 2022 the Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008). The Note matures on June 16, 2027 and bears an annual interest of 3.89% plus levy of 0.60% plus the 3-month Euribor (when positive). Pursuant to the agreement, there is a twelve-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 17 equal quarterly installments of €18,824 commencing on June 30, 2023. As of June 30, 2022 the Company has accrued interest of $618 and an outstanding balance of €320,000 ($335,008), of which $315,302 is classified as Notes payable – long term portion on the accompanying condensed consolidated balance sheet. COVID-19 Government Loans On May 12, 2020, the Company’s subsidiary, SkyPharm, was granted and on May 22, 2020 the Company received a €300,000 ($366,900) loan from the Greek government. The loan will be repaid in 40 equal monthly installments beginning on July 29, 2022. As a condition to the loan, the Company was required to retain the same number of employees until October 31, 2020. During the year ended December 31, 2021, the Company received a waiver of 50% forgiveness of the loan and recorded $177,450 as other income. As of December 31, 2021 the principal balance was $169,770. As of June 30, 2022, the principal balance was $157,035. On June 24, 2020, the Company received a loan £50,000 ($68,310) from the United Kingdom government. The loan has a ten-year maturity and bears interest at a rate of 2.5% per annum beginning 12-months after the initial disbursement. The Company may prepay this loan without penalty at any time. The Company repaid £2,335 ($3,233) of principal during the year ended December 31, 2021, and the balance as of December 31, 2021 was £47,665 ($64,347). As of June 30, 2022, the principal balance was £47,665 ($57,974). Distribution and Equity Agreement As discussed in Note 3 above, the Company entered into a Distribution and Equity Acquisition Agreement with Marathon. The Company was appointed the exclusive distributor of the Products (as defined) initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. As consideration for its services, Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in Common Shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. As discussed in Note 3, the Company attributed no value to the shares received in Marathon pursuant to (a) above. In relation to the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2019, the Company would be required to issue 2,506,127 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial financial instruments issued by the Company were not affected. None of the above loans were made by any related parties.	NOTE 11 – DEBT A summary of the Company’s third-party debt during the years ended December 31, 2021 and 2020 is presented below: December 31, 2021 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 3,302,100 $ 6,446,000 $ 12,631,284 $ 435,210 $ 22,814,594 Proceeds - - 565,900 - 565,900 Payments (141,475 ) (57,835 ) (62,878 ) (3,233 ) (265,421 ) Conversion of debt (1,606,500 ) - (3,010,000 ) - (4,616,500 ) Recapitalized upon debt modification (86,670 ) - - - (86,670 ) Debt forgiveness - - - (169,770 ) (169,770 ) Foreign currency translation (167,671 ) (181,155 ) (46,329 ) (28,090 ) (423,245 ) Subtotal 1,299,784 6,207,010 10,077,977 234,117 17,818,888 Notes payable - long-term - (2,450,000 ) (9,854,906 ) (51,478 ) (12,356,384 ) Notes payable - short-term $ 1,299,784 $ 3,757,010 $ 223,071 $ 182,639 $ 5,462,504 December 31, 2020 Loan Facility Bridge Loans Trade Facility Third Party COVID Loans Total Beginning balance $ 3,078,442 $ 191,287 $ 6,245,400 $ 2,514,595 $ - $ 12,029,724 Proceeds - - - 16,121,500 435,210 16,556,710 Payments - (191,287 ) - (5,006,115 ) - (5,230,725 ) Conversion of debt (807,795 ) (807,795 ) Debt extinguishment (12,066 ) - - (192,205 ) - (204,271 ) Foreign currency translation 269,047 - 200,600 1,304 - 470,951 Subtotal 3,302,100 - 6,446,000 12,631,284 435,210 22,814,594 Notes payable - long-term (2,843,475 ) - (2,384,850 ) (5,543,557 ) - (10,771,882 ) Notes payable - short-term $ 458,625 $ - $ 4,061,150 $ 7,087,727 $ 435,210 $ 12,042,712 Our outstanding debt as of December 31, 2021 is repayable as follows: December 31, 2021 2022 $ 5,549,174 2023 11,709,951 2024 264,255 2025 268,724 2026 and thereafter 113,454 Total debt 17,905,558 Less: fair value adjustments to assumed debt obligations (86,670 ) Less: notes payable - current portion (5,462,504 ) Notes payable - long term portion $ 12,356,384 Loan Facility Agreement On June 30, 2020, SkyPharm entered into a settlement agreement on an existing loan facility agreement with Synthesis Peer-to-Peer Income Fund, whereby SkyPharm agreed to make certain payments to the creditor and the creditor will accept such payments as full discharge of outstanding debt. In accordance with the settlement agreement, interest will accrue from June 30, 2020, until repayment in full at a rate of 6% per annum for the first year and 5.25% per annum for the second year calculated on the balance outstanding from day to day during such period. Interest is due on the 10 th On August 4, 2021, the Company entered into an exchange agreement whereby the Company agreed to the following: · Issue on August 4, 2021, 321,300 shares of common stock to settle $1,606,500 (€1,350,000) of debt. The Company recorded a gain on settlement of $292,383 upon the issuance of the 321,300 shares · Agreed to issue no more than 238,000 shares of common stock upon approval of the listing of the Company’s common stock to the Nasdaq to settle $1,190,000 (€1,000,000) of debt. The Company issued these shares subsequent to December 31, 2021 (see Note 17) The Company evaluated the August 4, 2021, exchange agreement for debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment because a substantial conversion feature was added to the debt terms. Upon extinguishment, the Company recorded a loss upon extinguishment in the amount of $6,642 and recorded the new debt at fair value based on the present value of future cash flows using a discount rate of 11.66%. As of December 31, 2021, the Company has accrued interest expense of $4,414 and the principal balance of the debt is $1,299,784, which is classified as Notes payable on the consolidated balance sheet. The debt is subject to acceleration in an Event of Default (as defined in the Notes). This agreement is secured by a personal guaranty of Grigorios Siokas, which is secured by a pledge of 1,000,000 shares of common stock of the Company owned by Mr. Siokas. Trade Facility Agreements On May 12, 2017, SkyPharm entered into a Trade Finance Facility Agreement (the “SkyPharm Facility”) with Synthesis Structured Commodity Trade Finance Limited (the “Lender”) as amended on November 16, 2017, and May 16, 2018. On October 17, 2018, the Company entered into a further amended agreement with Synthesis whereby the current balance on the TFF as of October 1, 2018, which was €4,866,910 ($5,629,555) and related accrued interest of €453,094 ($524,094) would be split into two principal balances of Euro €2,000,000 and USD $4,000,000. Interest on the new balances commenced on October 1, 2018, at 6% per annum plus one-month Euribor, when it is positive, on the Euro balance and 6% per annum plus one-month Libor on the USD balance. The USD $4,000,000 loan matured on August 31, 2021. On March 3 rd On December 30, 2020, the Company transferred the Euro €2,000,000 loan to a new third-party lender. The terms remained the same except interest will now accrue at 5.5% per annum plus Euribor. The principal is to be repaid in a total of five quarterly installments beginning October 31, 2021 of 50,000 Euro each with a final repayment of 1,800,000 Euro payable on the earlier of 24 months after December 30, 2020 or October 31, 2022. As of December 31, 2020, the Company had principal balances of €2,000,000 ($2,446,000), of which $2,384,850 is classified as Notes payable – long term portion on the consolidated balance sheet, and $4,000,000 under the agreements and the Company had accrued $402 and $16,185 respectively, in interest expense related to these agreements. During the year ended December 31, 2021, the Company repaid $56,508 of the €2,000,000 balance such that as of December 31, 2021, the Company had principal balances of €1,950,000 ($2,207,010) and $4,000,000 under the agreements, of which $2,450,000 is classified as notes payable-long term on the consolidated balance sheet and the Company had accrued $10,466 and $104,220 respectively, in interest expense related to these agreements. Third Party Debt On November 16, 2015, the Company entered into a Loan Agreement with Panagiotis Drakopoulos, former Director and former Chief Executive Officer, pursuant to which the Company borrowed €40,000 ($42,832) as a note payable from Mr. Drakopoulos. The note bears an interest rate of 6% per annum and was due and payable in full on November 15, 2016. During the year ended December 31, 2020, the Company repaid €5,000 ($5,862) of this loan. As of December 31, 2020, the Company had an outstanding principal balance of €8,000 ($9,784) and accrued interest of €4,785 ($5,852). As of December 31, 2021, the Company had an outstanding principal balance of €8,000 ($9,054) and accrued interest of €6,318 ($7,151). Conversion of Senior Promissory Notes In the year ending December 31, 2019, the Company executed Senior Promissory Notes (the “Debt”) in an aggregate total of $2,500,000 to an unaffiliated third-party lender (the “Lender”). In the year ended December 31, 2020, the Company executed additional Senior Promissory Notes to an unaffiliated third-party lender in an aggregate principal total of $510,000. As of December 31, 2020, the Company had an aggregate principal balance of $3,010,000 on this Debt and the Company had accrued $527,604 in interest expense. On February 5, 2021, The Company entered into an Amended and Restated Debt Exchange Agreement (the “Agreement”) with the “Lender that provided for the issuance by the Company of 781,819 shares of common stock (the “Exchange Shares”), at the rate of $3.85 per share, in exchange for an aggregate of $3,010,000 principal amount of existing loans made by the Lender to the Company. The market price at the time this Agreement was negotiated was $3.28 per share and the Company recorded a gain on debt extinguishment of $445,636. All accrued and unpaid interest, $563,613 as of December 31, 2021, as well as any unpaid fees, shall be paid in three (3) equal monthly installments following the closing of a planned Canadian public offering. Pursuant to this Agreement, Grigorios Siokas, the Company’s Chief Executive Officer and principal shareholder, will be released from all personal guarantees on the Debt. February 25, 2020 Senior Promissory Note On February 25, 2020, the Company executed a Senior Promissory Note (the “February Note”) in the principal amount of $1,000,000 payable to an unaffiliated third-party lender. The February Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The February Note matured on April 30, 2020. The February Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the February Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. In July 2020, the Company used a portion of the proceeds from the July 3, 2020 senior promissory note to repay the principal of the February Note. The Company was not in default at that time. The Company also repaid all accrued interest related to the February Note. May 5, 2020 Senior Promissory Note On May 5, 2020, the Company executed a Senior Promissory Note (the “May 5 Note”) in the principal amount of $2,000,000 payable to an unaffiliated third-party lender who had previously loaned the Company $1,000,000. The May 5 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 5 Note matured on December 31, 2020. The May 5 Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the May 5 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. In July 2020, the Company used a portion of the proceeds from the July 3, 2020 senior promissory note to repay the principal of the May 5 Note. The Company also repaid the accrued interest related to this note. May 8, 2020 Senior Promissory Note On May 8, 2020, the Company executed a Senior Promissory Note (the “May 8 Note”) in the principal amount of $2,000,000 payable to an unaffiliated third-party lender who had previously loaned the Company $3,000,000. The May 8 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 8 Note matured on June 8, 2020. The May 8 Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the May 8 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. In July 2020, the Company used a portion of the proceeds from the July 3, 2020 senior promissory note to repay the principal of the May 8 Note. The Company also repaid the accrued interest related to this note. May 18, 2020 and July 3, 2020 Senior Promissory Notes May 18, 2020 Senior Promissory Note On May 18, 2020, the Company executed a Senior Promissory Note (the “May 18 Note”) in the principal amount of $2,000,000 payable to an unaffiliated third-party lender. The May 18 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 18 Note matured on December 31, 2020. On February 23, 2022, the Company entered into an allonge with the lender extending the maturity date to June 30, 2023 (See Note 17). The May 18 Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the May 18 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2021 and 2020, the Company had a principal balance of $2,000,000 on this note, which is classified as Notes payable – long term portion on the consolidated balance sheet. July 3, 2020 Senior Promissory Note On July 3, 2020, the Company executed a Senior Promissory Note (the “July 3 Note”) in the principal amount of $5,000,000 payable to an unaffiliated third-party lender. The July 3 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The July 3 Note matures on June 30, 2022 unless in default. On February 23, 2022, the Company entered into an allonge with the lender extending the maturity date to June 30, 2023 (See Note 17). The July 3 Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the July 3 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. The Company used the proceeds from the July 3 Note to repay the principal outstanding on the May 5 Note ($2,000,000), the May 8 Note ($2,000,000), and the February Note ($1,000,000). As of December 31, 2021 and 2020, the Company had a principal balance of $5,000,000 on this note, which is classified as Notes payable – long term portion on the consolidated balance sheet. As of December 31, 2021 and 2020, the Company had accrued an aggregate total of $210,574 and $148,685, respectively, in interest expense related to these loans. August 4, 2020 Senior Promissory Note On August 4, 2020, the Company executed a Senior Promissory Note (the “August 4 Note”) in the principal amount of $3,000,000 payable to an unaffiliated third-party lender. The August 4 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The August 4 Note matured on December 31, 2020. On February 23, 2022, the Company entered into an allonge with the lender extending the maturity date to June 30, 2023 (See Note 17). The August 4 Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the August 4 Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. On October 29, 2020, the Company entered into a debt exchange agreement with the lender whereby the Company issued 259,741 shares of common stock at the rate of $3.85 per share in exchange for an aggregate of $1,000,000 principal amount of the existing loan. The fair market value of the Company’s common stock on the date of exchange was $3.11 per share and as such, the Company recorded a gain of $192,205. Interest will continue to accrue on the remaining debt and the converted amount until December 31, 2020. As of December 31, 2020, the Company had a principal balance of $2,000,000 on this note and prepaid interest of $8,514. As of December 31, 2021, the Company had a principal balance of $2,000,000 on this note, which is classified as Notes payable – long term portion on the consolidated balance sheet, and $60,166 in accrued interest expense. November 19, 2020 Debt Agreement On November 19, 2020, the Company entered into an agreement with a third-party lender in the principal amount of €500,000 ($611,500). The note matures on November 18, 2025 and bears an annual interest rate, based on a 360-day year, of 3.3% plus .6% plus 6-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grievance from the first deposit date, which was November 19, 2020, for principal repayment. The principal is to be repaid in 18 quarterly installments of €27,000 with the first payment due 9 months from the first deposit. As of December 31, 2020, the Company had no accrued interest and a principal balance of €500,000 ($611,500), of which $543,557 is classified as Notes payable – long term portion on the consolidated balance sheet. During the year ended December 31, 2021, the Company repaid €55,556 ($62,878) of the principal and as of December 31, 2021, the Company has accrued interest of $5,642 related to this note and a principal balance of €444,444 ($503,022), of which $377,270 is classified as Notes payable – long term portion on the consolidated balance sheet. July 30, 2021 Debt Agreement On July 30, 2021, the Company entered into an agreement with a third-party lender in the principal amount of €500,000 ($578,850). The note matures on August 5, 2026 and bears an annual interest rate that applies to 60% of the principal of the note that is based on a 365-day year, of 5.84% plus 3-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 18 quarterly installments of €27,000 commencing three months from the end of the grace period. As of December 31, 2021, the Company has accrued interest of $3,100 and a principal balance of €500,000 ($565,900), of which $477,637 is classified as Notes payable – long term portion on the consolidated balance sheet. COVID-19 Government Loans On May 12, 2020, the Company’s subsidiary, SkyPharm, was granted and on May 22, 2020 the Company received a €300,000 ($366,900) loan from the Greek government. The loan will be repaid in 40 equal monthly installments beginning on January 1, 2022 and bears an interest rate of 0.94% per annum. As a condition to the loan, the Company was required to retain the same number of employees until October 31, 2020. During the year ended December 31, 2021, the Company received a waiver of 50% forgiveness of the loan and recorded $177,450 as other income. As of December 31, 2021 the principal balance was $169,770. On June 24, 2020, the Company received a loan £50,000 ($68,310) from the United Kingdom government. The loan has a six-year maturity and bears interest at a rate of 2.5% per annum beginning 12-months after the initial disbursement. The Company may prepay this loan without penalty at any time. The Company repaid £2,335 ($3,233) of principal during the year ended December 31, 2021, and the balance as of December 31, 2021 was £47,665 ($64,347). Distribution and Equity Agreement As discussed in Note 2 above, the Company entered into a Distribution and Equity Acquisition Agreement with Marathon. The Company was appointed the exclusive distributor of the Products (as defined) initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. As consideration for its services, Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in Common Shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. As discussed in Note 2, the Company attributed no value to the shares received in Marathon pursuant to (a) above. In relation to the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2021, the Company would be required to issue 431,270 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected. None of the above loans were made by any related parties.

LEASES

LEASES	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
LEASES
LEASES	NOTE 13 – LEASES The Company has various lease agreements with terms up to 10 years, comprising leases of office space, cars leases for the distribution of pharmaceutical products, equipment hires, etc. Some leases include options to purchase, terminate or extend for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The assets and liabilities from operating and finance leases are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s secured incremental borrowing rates or implicit rates, when readily determinable. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet. The Company’s operating leases do not provide an implicit rate that can readily be determined. Therefore, we use a discount rate based on our incremental borrowing rate, which is determined using the interest rate of our long-term debt on the date of inception. Operating Leases The Company’s weighted-average remaining lease term relating to its operating leases is 5.83 years, with a weighted-average discount rate of 6.74%. The Company incurred lease expense for its operating leases of $108,198 and $99,610 which was included in “General and administrative expenses,” for the six months ended June 30, 2022 and 2021, respectively. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating leases as of June 30, 2022. Maturity of Lease Liability Remainder of 2022 $ 104,097 2023 208,195 2024 208,195 2025 136,952 Thereafter 380,823 Total undiscounted operating lease payments $ 1,038,262 Less: Imputed interest (180,239 ) Present value of operating lease liabilities 858,023 Finance leases The Company’s weighted-average remaining lease term relating to its finance leases is 1.92 years, with a weighted-average discount rate of 6.74%. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s finance leases as of June 30, 2022. Maturity of Lease Liability Remainder of 2022 $ 48,385 2023 87,349 2024 71,591 2025 43,547 Thereafter 24,868 Total undiscounted finance lease payments $ 275,740 Less: Imputed interest (28,403 ) Present value of finance lease liabilities $ 247,337 The Company incurred interest expense on its finance leases of $7,333 which was included in “Interest expense,” for the six months ended June 30, 2022. The Company incurred amortization expense on its finance leases of $39,606 which was included in “Depreciation and amortization expense,” for the six months ended June 30, 2022. The total cash used for the Company’s finance leases for the three months ended June 30, 2022 amounted to $43,804.	NOTE 12 – LEASES The Company has various lease agreements with terms up to 10 years, comprising leases of office space. Some leases include options to purchase, terminate or extend for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The assets and liabilities from operating and finance leases are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s secured incremental borrowing rates or implicit rates, when readily determinable. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet. The Company’s operating leases do not provide an implicit rate that can readily be determined. Therefore, we use a discount rate based on our incremental borrowing rate, which is determined using the interest rate of our long-term debt on the date of inception. The Company’s weighted-average remaining lease term relating to its operating leases is 6.6 years, with a weighted-average discount rate of 6.74%. The Company incurred lease expense for its operating leases of $260,664 and $188,400 which was included in “General and administrative expenses,” for the years ended December 31, 2021 and 2020, respectively. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating leases as of December 31, 2021. Maturity of Lease Liability 2022 $ 211,538 2023 182,316 2024 111,026 2025 111,026 2026 and thereafter 418,723 Total undiscounted operating lease payments $ 1,034,629 Less: Imputed interest (200,164 ) Present value of operating lease liabilities $ 834,465 The Company’s weighted-average remaining lease term relating to its finance leases is 3.2 years, with a weighted-average discount rate of 6.74%. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s finance leases as of December 31, 2021: Maturity of Lease Liability 2022 $ 85,231 2023 72,849 2024 55,765 2025 27,744 2026 and thereafter 4,211 Total undiscounted finance lease payments $ 245,800 Less: Imputed interest (24,321 ) Present value of finance lease liabilities $ 221,479 The Company had financing cash flows used in finances leases of $92,105 and $85,804 for the years ended December 31, 2021 and 2020, respectively. The Company incurred interest expense on its finance leases of $11,576 and $13,759 which was included in “Interest expense,” for the years ended December 31, 2021 and 2020, respectively. The Company incurred amortization expense on its finance leases of $97,270 and $123,533 which was included in “Depreciation and amortization expense,” for the years ended December 31, 2021 and 2020, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 14 – COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, the Company may be involved in litigation relating to claims arising out of the Company’s operations in the normal course of business. As of June 30, 2022, the following litigations were pending. None of the below is expected to have a material financial or operational impact. Solgar Inc. is suing SkyPharm SA for product homogeneity regarding the nutraceutical line “Sky Premium Life”. As a result, Solgar requested the prohibition for SkyPharm to manufacture, import and sell, market or in any way possess and distribute, including Internet sales and advertise in any way in the Greek market of “Sky Premium Life” due to homogeneity with Solgar’s products. Lawsuit with data no 4545/2021 of the company “Solgar Inc.” against SkyPharm before the Court of First Instance of Thessaloniki, according to which Solgar Inc. requests to prohibit SkyPharm SA’s use of the nutraceutical line “Sky Premium Life” packages as its characteristics are similar to Solgar Inc.’s and is also seeking the withdrawal of existing ones from the market. Solgar Inc. has further requested to be awarded compensation for non-pecuniary damage amounting to 20,000€ (financial obligation). The case was heard on January 28, 2022 and the Company is awaiting a decision. Compilation and submission of a memorandum against the National Medicines Agency with no. 127351/16.12.2021 document. On July 22, 2015, the National Medicines Agency approved the license of wholesale sale of pharmaceutical products of the pharmaceutical company under the name SkyPharm SA with set validity at five years and an expiration date of July 22, 2020. Subsequently, SkyPharm SA on June 15, 2020, legally and timely submitted the application for renewal of the wholesale license of pharmaceutical products to the National Medicines Agency even though the period under review is characterized by the COVID - 19 pandemic The National Medicines Agency did not respond, therefore the Company asked from the lawyer to immediately ask for the decision of the renewal. Two months after the filing of no. 3459 / 15.01.2021 letter of the attorney and almost nine months after the no. 627615.06.2020 company application for the renewal and the National Medicines Agency replied by rejecting the renewal request on March 9, 2021 (ref. 62769 / 20-25.02.2021). In addition, document No. 127351-16.12.2021 of EOF to SkyPharm states that after an inspection of EOF at the premises of the company “Doc Pharma”, SkyPharm did not have a wholesale license in force in violation of article 106 par. 1b and par. 1c of the ministerial decision D.YG3a / GP.32221 / 29-4-2019 and issued invoices dated February 26, 2021 and March 8, 2021). The National Medicines Agency has not yet replied to the renewal request. Order for payment by the court which derived from a fine related to tax audit that concerns financial year 2014. The ruling with no. 483/16.12.2020 was against Cosmofarm SA. The defendant appealed against the decision by the ruling with no.11541/09.03.2021.This appeal was dismissed due to inactive passage of 120 days. Because of this inactive passage, Cosmofarm appealed against Greek tax authorities, no.6704/29.11.2021. There was an obligation of additional tax and fines imposition of 91,652.27€ that Cosmofarm has already paid and claim back through the appeal (financial claim). The trial is pending. Advisory Agreements On July 1, 2021, the Company entered into a two-year advisory agreement with a third party (the “Consultant”) for advisory and consulting services related to the Company’s intention to become listed on NASDAQ. Peter Goldstein, a then director of the Company is a principal of the Consultant. As consideration for services rendered, the Company will pay the consultant $4,000 a month until the Company commences trading on NASDAQ. Upon NASDAQ listing, the Company shall pay $10,000 per month, with $4,000 per month paid on a monthly basis and $6,000 per month accrued until such time as the Company raises an aggregate of $10,000,000. In addition, the consultant will receive a $100,000 bonus upon NASDAQ listing and when the Company has raised an aggregate of $10,000,000. Finally, the Company has agreed that the Consultant shall receive a total of 250,000 shares of the Company’s common stock, 50,000 of such shares that have been previously issued pursuant to previous agreements and 200,000 shares to be issued when the Company commences trading on NASDAQ. As of June 30, 2022, 50,000 additional shares have been issued to the Consultant concerning the Company’s listing on Nasdaq. On July 7, 2021, the Company entered into an agreement with a non-exclusive financial advisor and placement agent. The term of the agreement is a minimum of 45 days and will continue until 5 business days following the date in which a party receives written notice from the other party of termination. As consideration for services rendered, the Company shall pay: a) a cash fee equal to 10% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering; b) 1% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering for unaccountable expenses; c) warrants to purchase shares of the Company’s common stock equal to 10% of the number of shares issued in the offering or to be issued thereafter upon conversion of any convertible securities issued in the offering. These warrants will have a 5-year term and an exercise price equal to the price per share of common stock sold in the offering or conversion or exercise price into common stock of any convertible security sold and will have the same provisions, terms, conditions, rights and preferences as the securities sold in the offering; d) a cash fee equal to 10% of the exercise price of all securities constituting warrants, options or other rights to purchase securities sold in the offering payable only upon exercise. On July 7, 2021, the Company entered into a 6-month agreement with a non-exclusive agent, advisor or underwriter in any offering of securities of the Company. At the closing of any offering the Company will compensate the agent: a) a cash fee or as an underwritten offering an underwriter discount equal to 7% of the aggregate gross proceeds raised in each offering. For all investors referred directly to the Company by the agent, a cash fee or as an underwritten offering an underwriter discount equal to 5% of the aggregate gross proceeds invested by such investors. b) the Company shall issue to the agent or its designees at each closing, warrants to purchase shares of the Company’s common stock equal to 5% of the aggregate number of shares of common stock placed in each offering. c) out of the proceeds of each closing, the Company also agreed to pay the agent up to $35,000 for non-accountable expenses (up to $50,000 for a public offering) along with up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (increase to up to $100,000 for public offerings) plus additional miscellaneous costs. The agent would also have the right of first refusal from the date of the agreement until the 12-month anniversary following consummation of any offerings for total proceeds of at least $3 million raised by investors introduced by the agent. Research & Development Agreements On June 26, 2022 the Company signed an R&D agreement with a third party, through which the Company assigns the third party the support of the Research and Development department with the implementation of two projects related to the development of new products and services in the field of health focusing on the human intestinal microbiome. The cost of the project amounts to EUR 820,000 and is allocated to certain phases of the projects. It will be due and payable upon completion of the corresponding phases.	NOTE 13 – COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, the Company may be involved in litigation relating to claims arising out of the Company’s operations in the normal course of business. As of December 31, 2021 and 2020, there were no pending or threatened lawsuits, other than the May Debt Exchange transaction disclosed in Note 8, that could reasonably be expected to have a material effect on the results of the Company’s operations. Advisory Agreements On April 18, 2018, SkyPharm S.A. entered into a ten-year Advisory Agreement with Synthesis Management Limited (the “Advisor”). The Advisor was retained to assist SkyPharm to secure corporate finance capital. The Advisor shall be paid €104,000 per year during the ten-year term. On July 1, 2021, the Company entered into a two-year advisory agreement with a third party (the “Consultant”) for advisory and consulting services related to the Company’s intention to become listed on NASDAQ. Peter Goldstein, a director of the Company is a principal of the Consultant. As consideration for services rendered, the Company will pay the consultant $4,000 a month until the Company commences trading on NASDAQ. Upon NASDAQ listing, the Company shall pay $10,000 per month, with $4,000 per month paid on a monthly basis and $6,000 per month accrued until such time as the Company raises an aggregate of $10,000,000. In addition, the consultant will receive a $100,000 bonus upon NASDAQ listing and when the Company has raised an aggregate of $10,000,000. Finally, the Company has agreed that the Consultant shall receive a total of 250,000 shares of the Company’s common stock, 50,000 of such shares that have been previously issued pursuant to previous agreements and 200,000 shares to be issued when the Company commences trading on NASDAQ. On July 7, 2021, the Company entered into an agreement with a non-exclusive financial advisor and placement agent. The term of the agreement is a minimum of 45 days and will continue until 5 business days following the date in which a party receives written notice from the other party of termination. As consideration for services rendered, the Company shall pay: a) a cash fee equal to 10% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering; b) 1% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering for unaccountable expenses; c) warrants to purchase shares of the Company’s common stock equal to 10% of the number of shares issued in the offering or to be issued thereafter upon conversion of any convertible securities issued in the offering. These warrants will have a 5-year term and an exercise price equal to the price per share of common stock sold in the offering or conversion or exercise price into common stock of any convertible security sold and will have the same provisions, terms, conditions, rights and preferences as the securities sold in the offering; d) a cash fee equal to 10% of the exercise price of all securities constituting warrants, options or other rights to purchase securities sold in the offering payable only upon exercise. On July 7, 2021, the Company entered into a 6-month agreement with a non-exclusive agent, advisor or underwriter in any offering of securities of the Company. At the closing of any offering the Company will compensate the agent: a) a cash fee or as an underwritten offering an underwriter discount equal to 7% of the aggregate gross proceeds raised in each offering. For all investors referred directly to the Company by the agent, a cash fee or as an underwritten offering an underwriter discount equal to 5% of the aggregate gross proceeds invested by such investors. b) The Company shall issue to the agent or its designees at each closing, warrants to purchase shares of the Company’s common stock equal to 5% of the aggregate number of shares of common stock placed in each offering. c) Out of the proceeds of each closing, the Company also agreed to pay the agent up to $35,000 for non-accountable expenses (up to $50,000 for a public offering) along with up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (increase to up to $100,000 for public offerings) plus additional miscellaneous costs. The agent would also have the right of first refusal from the date of the agreement until the 12-month anniversary following consummation of any offerings for total proceeds of at least $3 million raised by investors introduced by the agent.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 14 – EARNINGS PER SHARE Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company, decreased with respect to net income or increased with respect to net loss by dividends declared on preferred stock by using the weighted-average number of common shares outstanding. The dilutive effect of incremental common shares potentially issuable under outstanding options, warrants and restricted shares is included in diluted earnings per share in 2021 and 2020 utilizing the treasury stock method. The computations of basic and diluted per share data were as follows: 2021 2020 Numerator for Basic and Diluted Earnings Per Share: Net income (loss) $ (15,594,682 ) $ 820,786 Denominator for Basic Earnings Per Share: Weighted Average Shares 16,423,335 13,270,097 Potentially Dilutive Common Shares - 37,698 Adjusted Weighted Average Shares 16,423,335 13,307,795 Basic and Diluted Net Income (Loss) per Share (0.95 ) 0.06 The following table summarized the potential shares of common stock that were excluded from the computation of diluted net loss per share for the years ended December 31, 2021 and 2020 as such shares would have had an anti-dilutive effect: 2021 2020 Common Stock Warrants 3,567,827 - Common Stock Options 37,000 - Convertible Debt 218,977 - Total 3,823,804 -

STOCK OPTIONS AND WARRANTS

STOCK OPTIONS AND WARRANTS	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS	NOTE 15 – STOCK OPTIONS AND WARRANTS As of June 30, 2022, there were 0 options outstanding and exercisable. A summary of the Company’s option activity during the six months ended June 30, 2022 is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance outstanding, January 1, 2022 37,000 $ 1.32 0.01 $ 75,850 Granted - - - - Forfeited - - - - Exercised - - - - Expired (37,000 ) - - - Balance outstanding, June 30, 2022 - $ - - $ - Exercisable, June 30, 2022 - $ - - $ - As of June 30, 2022, there were 10,862,527 warrants outstanding and 10,862,527 warrants exercisable with expiration dates from May 2023 through August 2027. A summary of the Company’s warrant activity during the six months ended June 30, 2022 is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance outstanding, January 1, 2022 3,698,238 $ 2.02 2.03 $ 4,992,621 Granted 10,652,460 0.63 - - Forfeited - - - - Exercised (3,488,171 ) - - - Expired - - - - Balance outstanding, June 30, 2022 10,862,527 $ 0.66 5.09 $ - Exercisable, June 30, 2022 10,862,527 $ 0.66 5.09 $ -	NOTE 15 – STOCK OPTIONS AND WARRANTS As of December 31, 2021, there were 37,000 options outstanding and 37,000 options exercisable with expiration dates of January 2022. A summary of the Company’s option activity during the years ended December 31, 2021 and 2020 is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance Outstanding, January 1, 2020 74,000 $ 1.32 1.47 $ 64,800 Granted - - - - Forfeited (12,000 ) - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2020 62,000 $ 1.19 0.60 $ 242,200 Granted - - - - Forfeited - - - - Exercised - - - - Expired (25,000 ) - - - Balance Outstanding, December 31, 2021 37,000 $ 1.32 0.01 $ 75,850 Exercisable, December 31, 2021 37,000 $ 1.32 0.01 $ 75,850 As of December 31, 2021, there were 3,698,238 warrants outstanding and 3,698,238 warrants exercisable with expiration dates from May 2023 through March 2024. Warrant Anti-Dilution Adjustment and Deemed Dividend The Company’s warrants outstanding contain certain anti-dilution adjustments if the Company issues shares of its common stock at a lower price per share than the applicable exercise price of the underlying warrant. If any such dilutive issuance occurs prior to the exercise of such warrant, the exercise price will be adjusted downward to a price equal to the common stock issuance, and the number of warrants that may be purchase upon exercise is increased proportionately so that the aggregate exercise price payable under the warrant shares shall be the same as the aggregate exercise price in effect immediately prior to such adjustment. On December 21, 2021, the Company issued its common stock upon conversion of its convertible debt at an issuance price of $2.02 per share. As a result, the Company issued additional warrants to the Company’s existing warrant holders to purchase 2,533,565 shares of common stock with an exercise price of $2.02 per share. The new warrants were issued with a weighted average contractual term of 2.04 years. The deemed dividend was recorded as an increase to accumulated deficit and additional paid-in capital and reduced net income available to common shareholders by the same amount. The Company valued (a) the fair value of the warrants immediately before the re-pricing in the amount of $1,915,077, (b) the fair value of the warrants immediately after the re-pricing in the amount of $9,548,110, and (c) recorded the difference as deemed dividend in the amount of $7,633,033. The warrants were valued using the Black-Scholes option pricing model using the following terms: a) fair value of common stock of $3.75, b) exercise prices of $5.00, $6.00 and $7.50 before re-pricing, c) exercise price of $2.02 after re-pricing, d) terms of 1.40 years, 1.97 years, 2.20 years and 2.26 years, e) dividend rate of 0%, and f) risk free interest rate of 0.41%. A summary of the Company’s warrant activity for the years ending December 31, 2021 and 2020 is as follows: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, January 1, 2020 1,164,673 $ 6.41 4.01 $ - Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2020 1,164,673 $ 6.41 3.01 $ 5,360 Granted 2,533,565 2.02 2.04 - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2021 3,698,238 $ 2.02 2.03 $ 4,992,621 Exercisable, December 31, 2021 3,698,238 $ 2.02 2.03 $ 4,992,621

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
DISAGGREGATION OF REVENUE
DISAGGREGATION OF REVENUE	NOTE 16 – DISAGGREGATION OF REVENUE ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc.). ASC 606-10-55-89 explains that the extent to which an entity’s revenue is disaggregated depends on the facts and circumstances that pertain to the entity’s contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue. The Company disaggregates revenue by country to depict the nature and economic characteristics affecting revenue. The following table presents our revenue disaggregated by country for the three months ended: June 30, June 30, Country 2022 2021 Germany - 3 Greece 13,152,257 14,504,869 Italy - 4 Denmark - 14 Cyprus - 64,225 UK 40,831 265,828 Croatia 15,416 11,982 Total $ 13,208,504 $ 14,846,925 The following table presents our revenue disaggregated by country for the six months ended: June 30, June 30, Country 2022 2021 Germany - 13,617 Greece 26,161,295 25,958,364 Italy - 15,731 Denmark - 54,700 Cyprus - 78,948 UK 92,257 332,659 Croatia 26,752 11,982 Total $ 26,280,304 $ 26,466,001	NOTE 16 – DISAGGREGATION OF REVENUE ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc.). ASC 606-10-55-89 explains that the extent to which an entity’s revenue is disaggregated depends on the facts and circumstances that pertain to the entity’s contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue. The Company disaggregates revenue by country to depict the nature and economic characteristics affecting revenue. The following table presents our revenue disaggregated by country for the years ended: Country 2021 2020 Croatia $ 18,441 $ 24,840 Cyprus 112,640 36,987 Denmark 53,710 537,098 France - 18,988 Germany 13,370 1,314,381 Greece 55,564,240 51,259,784 Ireland - 36,349 Italy 15,446 75,183 Jordan - 29,635 Libya - 1,028 Netherlands - 188,890 Poland - 29,358 UK 461,820 1,853,816 Total $ 56,239,667 $ 55,406,337

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 17 – SUBSEQUENT EVENTS Acquisition of Pharmaceutical Company On July 19, 2022, the Company entered into a binding letter of intent (the “LOI”) to acquire a pharmaceutical company, organized under the laws of Greece through the purchase of one hundred (100%) percent of the shares of an SPV. Total consideration for the proposed acquisition consists of €1,700,000 in cash and 433,334 shares of Cosmos common stock, subject to adjustment at an issuance price of $3.00 per share ($1,300,000 in total), both paid to the shareholders of the SPV. Acquisition of Health Products portfolio On July 6, 2022, the Company announced that it has entered into an agreement to acquire a third party’s product portfolio, including Bone-Vio® and Bone-X, related to bone health targeting the human gastrointestinal microbiome. Amendment of Corporate Name On July 29, 2022, the Company applied to the Secretary of State of Nevada informing that it will be doing business as “Cosmos Health, Inc.” to better reflect the Company’s evolution into an innovative global healthcare group with a focus on improving people’s lives. Conversion of preferred shares During July 2022, following the February 28, 2022 Offering, 822 of the Series A Shares were converted into 1,322,564 shares of common stock in accordance with the terms of the agreements.	NOTE 17 – SUBSEQUENT EVENTS Extension of Maturity Dates on Existing Promissory Notes On February 23, 2022, the Company entered into allonges to extend the maturity dates of existing Senior Promissory Notes to June 30, 2023 (See Note 11). Security Purchase Agreement – Preferred Stock On February 28, 2022, the Company entered into a securities purchase agreement, or the Purchase Agreement, with certain investors and an insider for a private placement of the Company’s securities (the “Private Placement”). The Private Placement consisted of the sale of 6,000 shares of the Company’s Series A Convertible Preferred Stock, or the Series A Shares, at a price of $1,000.00 per share, and 2,000,000 warrants to purchase shares of common stock, or the Warrants, for aggregate gross proceeds of approximately $6 million. The closing of the Private Placement occurred on February 28, 2022. As a condition to the closing of the sale, the Company’s common stock received conditional approval for listing and trading on the Nasdaq Capital Market and commenced trading on February 28, 2022, under the trading symbol COSM. Settlement of Debt On February 28, 2022, the Company issued 238,000 shares of common stock upon the triggering event which was approval of the listing of the Company’s common stock to the Nasdaq to settle $1,190,000 (€1,000,000) of debt. Extension to Debt Agreement On March 3 rd th

ORGANIZATION, NATURE OF BUSIN_2

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN
Going Concern	The Company’s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplates the continuation of the Company as a going concern. For the six months ended June 30, 2022, the Company had revenue of $ 26,280,304, net loss of $1,037,909 and net cash used in operations of $3,023,685. Additionally, as of June 30, 2022, the Company had working capital of $4,128,418, an accumulated deficit of $52,352,868, and stockholders’ equity of $5,130,056. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing. The Company has undergone strategic review processes to help find a definitive solution to the Company’s accumulated deficit constraints. Options under consideration in the strategic review process include, but are not limited to, securing new debt, exchange debt to equity, restructuring current debt facilities from short term to long term and taking the proper actions for new fund raising. The condensed consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund its operations. If the Company is unable to obtain adequate capital, it could be forced to curtail development of operations. In order to continue as a going concern, develop a reliable source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management’s plans to continue as a going concern include raising additional capital through increased sales of product and by equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described herein and eventually secure other sources of financing and attain profitable operations.	The Company’s consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplates the continuation of the Company as a going concern. For the year ended December 31, 2021, the Company had revenue of $56,239,667, net loss of $7,961,649 and net cash used in operations of $7,097,174. Additionally, as of December 31, 2021, the Company had working capital of $10,950,492, an accumulated deficit of $34,345,506, and stockholders’ equity of $4,379,463. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing. The Company has undergone strategic review processes to help find a definitive solution to the Company’s accumulated deficit constraints. Options under consideration in the strategic review process include, but are not limited to, securing new debt, exchange debt to equity, restructuring current debt facilities from short term to long term and taking the proper actions for new fund raising. The consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund its operations. If the Company is unable to obtain adequate capital, it could be forced to curtail development of operations. In order to continue as a going concern, develop a reliable source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management’s plans to continue as a going concern include raising additional capital through increased sales of product and by equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described herein and eventually secure other sources of financing and attain profitable operations. Summary of Significant Accounting Policies Our consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated.
Basis of Financial Statement Presentation	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.	The accompanying consolidated financial statements have been prepared in accordance with principles generally accepted in the United States of America.
Principles of Consolidation	Our condensed consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated.	Our consolidated accounts include our accounts and the accounts of our wholly-owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	The preparation of the condensed 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 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. Actual results could differ from those estimates.	The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Actual results could differ from those estimates.
The Effects of COVID-19	Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.	Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Annual Report on Form 10-K. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.
Foreign Currency Translations and Transactions	Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and amounts included in the accompanying condensed statements of operations and comprehensive income (loss) are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ deficit until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in comprehensive income (loss).	The functional currency of the Company’s subsidiaries is the Euro and British Pound. For financial reporting purposes, both the Euro (“EUR”) and British Pound (“GBP”) have been translated into United States dollars ($) and/or (“USD”) as the reporting currency. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss)”. Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive loss as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of EUR or GBP to USD after the balance sheet date. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. As of December 31, 2021 and 2020, the exchange rates used to translate amounts in Euros into USD and British Pounds into USD for the purposes of preparing the consolidated financial statements were as follows: December 31, 2021 December 31, 2020 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1318 1.2230 GBP: USD exchange rate 1.3500 1.3662 Average exchange rate for the period EUR: USD exchange rate 1.1830 1.1410 GBP: USD exchange rate 1.3764 1.2829 Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and the statements of operations are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ equity until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in net earnings.
The Effects of War in the Ukraine	On February 24, 2022, Russian forces launched significant military action against Ukraine. There continues to be sustained conflict and disruption in the region, which is expected to endure for the foreseeable future. We do not conduct any commercial transactions with either Ukraine or Russia and the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. Such political issues and conflicts could have a material adverse effect on our results of operations and financial condition if they escalate in areas in which we do business. In addition, changes in and adverse actions by governments in foreign markets in which we do business could have a material adverse effect on our results of operations and financial condition. These estimates may change, as new events occur, and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions. We will continue monitoring the social, political, regulatory and economic environment in Ukraine and Russia, and will consider further actions as appropriate.
Cash and Cash Equivalents	For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of June 30, 2022 and December 31, 2021, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars, in Greece denominated in Euros, U.S. Dollars and Great Britain Pounds (British Pounds Sterling), and in Bulgaria denominated in Euros. The Company also maintains bank accounts in the United Kingdom, denominated in Euros and Great Britain Pounds (British Pounds Sterling).	For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2021 and December 31, 2020, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars and in Greece and in Bulgaria all of which are denominated in Euros. Additionally, the Company maintains a bank account in the United Kingdom denominated in British Pounds. As of December 31, 2021, the amounts in these accounts were $144,489, $101,589 and $4,061. As of December 31, 2020, the amounts in these accounts were $448,659, $134,935 and $1,651. Additionally, as of December 31, 2021 and 2020, the Company had cash on hand in the amount of $25,773 and $31,604, respectively.
Reclassifications to Prior Period Financial Statements and Adjustments	Certain reclassifications have been made in the Company’s financial statements of the prior period to conform to the current year presentation. As of December 31, 2021, $7,393 in accumulated depreciation has been reclassified from property and equipment to accumulated amortization of goodwill and intangible assets and $4,772 was reclassified from prepaid expenses and other current assets to marketable securities on the unaudited condensed consolidated balance sheet. For the three and six months ended June 30, 2021, $578,598 and $1,104,169 was reclassified from general and administrative expenses to salaries and wages on the unaudited condensed consolidated statements of operations and comprehensive income. Additionally, for the six months ended June 30, 2021, $2,312 was reclassified from customer deposits to other current liabilities on the unaudited condensed consolidated statement of cash flows. These reclassifications have no impact on previously reported net income.	Certain reclassifications have been made in the Company’s financial statements of the prior period to conform to the current year presentation. $22,340 in customer deposits as of December 31, 2020, has been reclassified to other current liabilities and $502,869 was reclassified from lines of credit to lines of credit – long-term portion on the consolidated balance sheet. For the year ending December 31, 2020, $2,082,453 was reclassified from general and administrative expenses to salaries and wages on the consolidated statements of operations and comprehensive income. For the year ended December 31, 2020, $230,505 was reclassified from customer deposits to other current liabilities and $96,237 in bad debt expenses was reclassified from accounts receivable on the consolidated statement of cash flows. These reclassifications have no impact on previously reported net income.
Account receivable, net		Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables’ portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At December 31, 2021 and 2020, the Company’s allowance for doubtful accounts was $1,702,743 and $715,845, respectively.
Account receivable, net	Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables’ portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At June 30, 2022 and December 31, 2021, the Company’s allowance for doubtful accounts was $1,575,015 and $1,702,743, respectively.
Tax Receivables	The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. The net VAT receivable is recorded in prepaid expense and other current assets on the condensed consolidated balance sheets. As of June 30, 2022 and December 31, 2021, the Company had a VAT net payable balance of $497,182 and $400,616 respectively, recorded in the condensed consolidated balance sheet as accounts payable and accrued expenses.	The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. The net VAT receivable is recorded in prepaid expense and other current assets on the consolidated balance sheets. As of December 31, 2021 and 2020, the Company had a VAT net payable balance of $400,616 and $159,198 respectively, recorded in the consolidated balance sheet as accounts payable and accrued expenses.
Inventory	Inventory is stated at the lower-of-cost or net realizable value using the weighted average method. Inventory consists primarily of finished goods and packaging materials, i.e., packaged pharmaceutical products and the wrappers and containers they are sold in. A periodic inventory system is maintained by 100% count. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met.	Inventory is stated at the lower-of-cost or net realizable value using the weighted average method. Inventory consists primarily of finished goods and packaging materials, i.e., packaged pharmaceutical products and the wrappers and containers they are sold in. A periodic inventory system is maintained by 100% count. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met.
Property and Equipment, net	Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $80,576 and $78,341 for the three months ended June 30, 2022 and 2021, respectively and $165,456 and $149,812 for the six months ended June 30, 2022 and 2021, respectively.	Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $319,337 and $240,886 for the years ended December 31, 2021 and 2020, respectively.
Impairment of Long-Lived Assets	In accordance with ASC 360-10, Long-lived Assets, property and equipment and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable.	In accordance with ASC 360-10, long-lived assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. For the years ended December 31, 2021 and 2020, the Company had no impairment of long-lived assets.
Goodwill and Intangibles, net	The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for its pharmaceuticals and nutraceuticals products license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of June 30, 2022, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $8,249 and $8,249 for the three months ended June 30, 2022 and 2021, respectively and $16,407 and $16,407 for the six months ended June 30, 2022 and 2021, respectively.	The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for an import/export license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of December 31, 2021, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $33,085 and $33,176 for the years ended December 31, 2021 and 2020, respectively.
Equity Method Investment	For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company will record its share in the earnings of the investee and will include it within the condensed consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value.	For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company records its share in the earnings of the investee and is included in “Equity earnings of affiliate” in the consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value.
Investments in Equity Securities	Investments in equity securities are accounted for at fair value with changes in fair value recognized in net income (loss). Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of June 30, 2022, investments consisted of (i) 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp and (ii) 16,666 shares which traded at a closing price of $0.30 per share or value of $4,925 of National Bank of Greece. Additionally, the Company has $5,407 in equity securities of Pancreta Bank, which are revalued annually. See Note 3, for additional investments in equity securities.	Investments in equity securities are accounted for at fair value with changes in fair value recognized in net income (loss). Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of December 31, 2021, investments consisted of 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp., 16,666 shares which traded at a closing price of $0.40 per share or value of $6,696 of National Bank of Greece. Additionally, the Company has $4,416 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. As of December 31, 2020, investments consisted of 3,000,000 shares, which traded at a closing price of $0 per share or a value of $0 of ICC International Cannabis Corp., 40,000 shares which traded at a closing price of $5.45 per share, or value of $218,183 of Diversa S.A. and 16,666 shares which traded at a closing price of $0.28 per share or value of $4,609 of National Bank of Greece. Additionally, the Company had $4,772 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. See Note 2, for additional investments in equity securities.
Fair Value Measurement	The Company applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following tables presents assets that are measured and recognized at fair value as of June 30, 2022 and December 31, 2021, on a recurring basis: June 30, 2022 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 4,925 - - 4,925 Equity securities – Pancreta Bank - 5,407 - 5,407 $ 4,925 $ 5,407 $ 10,332 December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 6,696 - - 6,696 Equity securities – Pancreta Bank - 4,772 - 4,772 $ 6,696 $ 4,772 $ 11,468	The Company applies FASB ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following table presents assets that are measured and recognized at fair value as of December 31, 2021 and 2020, on a recurring basis: December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. - - - - Marketable securities – National Bank of Greece 6,696 - - 6,696 $ 6,696 $ 6,696 December 31, 2020 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. 218,183 - - 218,183 Marketable securities – National Bank of Greece 4,609 - - 4,609 $ 222,792 $ 222,792 In addition, FASB ASC 825-10-25, Fair Value Option, (“ASC 825-10-25”), expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value. The Company did not elect the fair value options for any of its qualifying financial instruments.
Customer Advances	The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer advances balance and credit the Company’s revenues.	The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer advances balance and credit the Company’s revenues.
Derivatives Instruments	Derivative financial instruments are recorded in the accompanying condensed consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s condensed consolidated statements of operations.	Derivative financial instruments are recorded in the accompanying consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s consolidated statements of operations.
Revenue Recognition	In accordance with ASC 606, Revenue from Contracts with Customers, the Company uses a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon transfer of the product to the customer.	In accordance with ASC 606, Revenue from Contracts with Customers, the Company uses a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon delivery of the product.
Stock-based Compensation	The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, “Compensation-Stock Compensation-Improvements to Nonemployee Share-Based Payment Accounting.”	The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, “Compensation-Stock Compensation-Improvements to Nonemployee Share-Based Payment Accounting.” Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash investments and accounts receivable. The following tables show the number of the Company’s clients which contributed 10% or more of revenue and accounts receivable, respectively: Year Ended December 31, Year Ended December 31, 2021 2020 Number of 10% clients 1 1 Percentage of total revenue 15.33 % 14.82 % Percentage of total AR 35.08 % 14.65 %
Income Taxes	The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom The corporate income tax rate is 22% in Greece and 19% in United Kingdom. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At June 30, 2022 the Company has maintained a valuation allowance against all net deferred tax assets in each jurisdiction in which it is subject to income tax. The Company uses a “more likely than not” criterion for recognizing the income tax benefit of uncertain tax positions and establishing measurement criteria for income tax benefits. The Company has evaluated the impact of these positions and due to the fact that the Company undergoes an annual certified audit each year in lieu of an audit by the Greek tax authorities, the Company has not taken any tax positions that warrant accrual under ASC-740-10.	The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom The corporate income tax rate is 22% in Greece and 19% in United Kingdom. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At December The Company uses a “more likely than not” criterion for recognizing the income tax benefit of uncertain tax positions and establishing measurement criteria for income tax benefits. The Company has evaluated the impact of these positions and due to the fact that the Company undergoes an annual certified audit each year in lieu of an audit by the Greek tax authorities, the Company has not taken any tax positions that warrant accrual under ASC-740-10.
Retirement and Termination Benefits	Under Greek labor law, employees are entitled to lump-sum compensation in the event of termination or retirement. The amount depends on the employee’s work experience and renumeration as of the day of termination or retirement. If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day. The Company periodically reviews the uncertainties and judgments related to the application of the relevant labor law regulations to determine retirement and termination benefits obligations of its Greek subsidiaries. The Company has evaluated the impact of these regulations and has identified a potential retirement and termination benefits liability.	Under Greek labor law, employees are entitled to lump-sum compensation in the event of termination or retirement. The amount depends on the employee’s work experience and renumeration as of the day of termination or retirement. If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day. The Company periodically reviews the uncertainties and judgements related to the application of the relevant labor law regulations to determine retirement and termination benefits obligations of its Greek subsidiaries. The Company has evaluated the impact of these regulations and has identified a potential retirement and termination benefits liability. The amount of the liability as of December 31, 2021 and December 31, 2020, was $0 and $107,167, respectively, and has been recorded as a long-term liability within the consolidated balance sheets.
Basic and Diluted Net Loss per Common Share	Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. In accordance with ASC 260, Earnings Per Share, the following table reconciles basic shares outstanding to fully diluted shares outstanding. Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Weighted average number of common shares outstanding-Basic 19,540,097 16,105,409 18,652,736 15,572,773 Potentially dilutive common stock equivalents - - - - Weighted average number of common and equivalent shares outstanding - Diluted 19,540,097 16,105,409 18,652,736 15,572,773 Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.	Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. In accordance with ASC 260, Earnings Per Share, the following table reconciles basic shares outstanding to fully diluted shares outstanding. Years Ended December 31, 2021 2020 Weighted average number of common shares outstanding Basic 16,423,335 13,270,097 Potentially dilutive common stock equivalents - 37,698 Weighted average number of common and equivalent shares outstanding – Diluted 16,423,335 13,307,795 Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.
Recent Accounting Pronouncements	In October 2021, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, Business Combinations. The new guidance should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022 and include interim periods. The guidance is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects of the adoption of ASU No. 2021-08 on its consolidated financial statements. In May 2021, the FASB issued ASU 2021-04—Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this ASU are effective for public and nonpublic entities for fiscal years beginning after December 15, 2021, and interim periods with fiscal years beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the effects of the adoption of ASU No. 2021-04 on its consolidated financial statements. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.	October 2021, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The new guidance creates an exception to the general recognition and measurement principles of ASC 805, Business Combinations. The new guidance should be applied prospectively and is effective for all public business entities for fiscal years beginning after December 15, 2022 and include interim periods. The guidance is effective for all other entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects of the adoption of ASU No. 2021-08 on its consolidated financial statements. In May 2021, the FASB issued ASU 2021-04—Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this ASU are effective for public and nonpublic entities for fiscal years beginning after December 15, 2021, and interim periods with fiscal years beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the effects of the adoption of ASU No. 2021-04 on its consolidated financial statements. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.
Accounting Standard Adopted	The Company has adopted Accounting Standards Update (“ASU”) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), effective as of January 1, 2022, using the modified retrospective transition method which, among other things, simplifies the accounting for convertible instruments by eliminating the requirement to separate conversion features from the host contract. Consequently, a convertible debt instrument is accounted for as a single liability measured at its amortized cost and interest expense will be recognized at the coupon rate. The adoption resulted in the elimination of the debt discount that had been recorded within equity (see Note 11, “Convertible Debt”).
Correction of an Immaterial Error	During the three-month period ended June 30, 2022, the Company concluded it should have adopted ASU 2020-06 on January 1, 2022. The Company is now retrospectively adopting ASU 2020-06 as of January 1, 2022 in this Form 10-Q with a cumulative catch-up adjustment. The net impact of the adjustments was recorded as a reduction to the January 1, 2022 balance of additional paid-in capital in the amount of $294,000 and a reduction in accumulated deficit in the amount of $53,248, as presented in the statement of stockholders’ equity, and a reduction in discount on convertible notes payable in the amount of $240,752. The Company has concluded the impact to form 10-Q for the three-month period ended March 31, 2022 to be immaterial to the financial statements and recorded a catchup/correcting adjustment in the current Form 10-Q.

ORGANIZATION NATURE OF BUSINESS

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN
Schedule of Property and Equipment	Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years	Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years
Schedule of Assets Measured and Recognized at Fair Value on a Recurring Basis	June 30, 2022 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 4,925 - - 4,925 Equity securities – Pancreta Bank - 5,407 - 5,407 $ 4,925 $ 5,407 $ 10,332 December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - $ - - $ - Marketable securities – National Bank of Greece 6,696 - - 6,696 Equity securities – Pancreta Bank - 4,772 - 4,772 $ 6,696 $ 4,772 $ 11,468	December 31, 2021 December 31, 2020 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1318 1.2230 GBP: USD exchange rate 1.3500 1.3662 Average exchange rate for the period EUR: USD exchange rate 1.1830 1.1410 GBP: USD exchange rate 1.3764 1.2829 December 31, 2021 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. - - - - Marketable securities – National Bank of Greece 6,696 - - 6,696 $ 6,696 $ 6,696 December 31, 2020 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ - - - $ - Marketable securities – Diversa S.A. 218,183 - - 218,183 Marketable securities – National Bank of Greece 4,609 - - 4,609 $ 222,792 $ 222,792 Year Ended December 31, Year Ended December 31, 2021 2020 Number of 10% clients 1 1 Percentage of total revenue 15.33 % 14.82 % Percentage of total AR 35.08 % 14.65 % Years Ended December 31, 2021 2020 Weighted average number of common shares outstanding Basic 16,423,335 13,270,097 Potentially dilutive common stock equivalents - 37,698 Weighted average number of common and equivalent shares outstanding – Diluted 16,423,335 13,307,795
Schedule of Reconciliation of Basic Shares Outstanding to Fully Diluted Shares Outstanding	Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Weighted average number of common shares outstanding-Basic 19,540,097 16,105,409 18,652,736 15,572,773 Potentially dilutive common stock equivalents - - - - Weighted average number of common and equivalent shares outstanding - Diluted 19,540,097 16,105,409 18,652,736 15,572,773

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
PROPERTY AND EQUIPMENT
Schedule of Property and Equipment	June 30, 2022 December 31, 2021 Leasehold improvements $ 482,848 $ 519,278 Vehicles 77,752 96,657 Furniture, fixtures and equipment 1,911,170 2,065,100 Computers and software 134,122 141,490 2,605,892 2,822,525 Less: Accumulated depreciation and amortization (986,665 ) (934,473 ) Total $ 1,619,227 $ 1,888,052	2021 2020 Leasehold improvements $ 519,278 $ 560,711 Vehicles 96,657 105,057 Furniture, fixtures and equipment 2,065,100 1,632,654 Computers and software 141,490 149,005 2,822,525 2,447,427 Less: Accumulated depreciation and amortization (941,866 ) (690,214 ) Total $ 1,880,659 $ 1,757,213

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
GOODWILL AND INTANGIBLE ASSETS
Schedule of Goodwill and Intangible Assets	June 30, 2022 December 31, 2021 License $ 630,506 $ 345,739 Trade name / mark 36,997 36,997 Customer base 176,793 176,793 844,296 559,529 Less: Accumulated amortization (152,990 ) (123,459 ) Subtotal 691,306 436,070 Goodwill 49,697 49,697 Total $ 741,003 $ 485,767	2021 2020 License $ 345,739 $ 50,000 Trade name /mark 36,997 36,997 Customer base 176,793 176,793 559,529 263,790 Less: Accumulated amortization (116,066 ) (82,981 ) Subtotal 443,463 180,809 Goodwill 49,697 49,697 Total $ 493,160 $ 230,506

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
Schedule of income before income tax domestic and foreign	12/31/2021 12/31/2020 Domestic $ (8,365,297 ) $ (2,901,276 ) Foreign 517,659 4,099,597 $ (7,847,638 ) $ 1,198,321 12/31/2021 12/31/2020 Current tax provision Federal $ - $ - State - - Foreign 802,364 555,965 Total current tax provision $ 802,364 $ 555,965 Deferred tax provision Domestic $ - $ - State - - Foreign (688,354 ) (178,430 ) Total deferred tax provision $ (688,354 ) $ (178,430 ) Total current provision $ 114,010 $ 377,535
Schedule of provision for income taxes	12/31/2021 12/31/2020 US Income (loss) before income taxes $ (7,847,639 ) $ 1,198,321 Taxes under statutory US tax rates $ (1,648,004 ) $ 251,647 Increase (decrease) in taxes resulting from: Increase in valuation allowance $ 3,001,899 $ 216,518 Foreign tax rate differential $ (24,977 ) $ (55,540 ) Permanent differences $ (734,428 ) $ (218,216 ) US tax on foreign income $ 493,028 $ 604,419 163(j) catch up (76,888 ) - Prior period adjustments $ 52,034 $ (97,829 ) State taxes $ (948,654 ) $ (323,464 ) Income tax expense $ 114,010 $ 377,535
Significant components of deferred tax assets and liabilities	12/31/2021 12/31/2020 Net operating loss carryforward $ 4,515,900 $ 1,494,424 Capital loss carryforward 801,744 801,744 Section 163(j) carryforward - - Nonqualified stock options 96,104 170,297 Foreign exchange 13,438 - Allowance for doubtful accounts 374,604 - Accrued expenses 528,895 7,389 Mark to market adjustment in securities 358,761 357,829 Lease liability 253,620 247,797 Gain on extinguishment of debt - 179,958 Depreciation (6,765 ) 4,226 Total deferred tax assets 6,936,211 3,263,664 Intangibles (8,139 ) (10,729 ) Inventory (14,728 ) - Right of use asset (243,207 ) (253,818 ) Goodwill (10,979 ) (14,473 ) Total deferred tax liabilities (277,053 ) (279,020 ) Valuation allowance (5,808,384 ) (2,806,214 ) Net deferred tax assets (liabilities) $ 850,774 $ 178,430

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
Schedule of Related Party Notes Payable	June 30, 2022 December 31, 2021 Beginning balance $ 464,264 $ 501,675 Foreign currency translation (34,826 ) (37,411 ) Ending balance $ 429,438 $ 464,264	2021 2020 Beginning Balance $ 501,675 $ 1,375,532 Payments - (996,136 ) Foreign currency translation (37,411 ) 122,279 Ending Balance $ 464,264 $ 501,675
Schedule of Related Party Loans Payable	June 30, 2022 December 31, 2021 Beginning balance $ 1,293,472 $ 1,629,246 Proceeds 526,612 6,377,156 Payments (449,643 ) (133,552 ) Conversion of debt - (6,000,000 ) Settlement of lawsuit - (600,000 ) Foreign currency translation (88,639 ) 20,623 Ending balance $ 1,281,802 $ 1,293,472	2021 2020 Beginning balance $ 1,629,246 $ 1,026,264 Proceeds 6,377,156 725,563 Payments (133,552 ) (149,695 ) Conversion of debt (6,000,000 ) - Settlement of lawsuit (600,000 ) - Foreign currency translation 20,623 27,114 Ending balance $ 1,293,472 $ 1,629,246

LINES OF CREDIT (Tables)

LINES OF CREDIT (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
LINES OF CREDIT
Schedule of Lines of Credit	June 30, 2022 December 31, 2021 National $ 2,651,660 $ 3,265,236 Alpha 811,432 947,333 Pancreta 790,193 489,985 National – COVID 314,885 407,174 EGF 419,335 - Subtotal 4,987,505 5,109,728 Reclassification of National-COVID – Long-term (191,825 ) (366,171 ) Ending balance $ 4,795,680 $ 4,743,557	December 31, 2021 December 31, 2020 National $ 3,265,236 $ 3,540,550 Alpha 947,333 1,106,894 Pancreta 489,985 - National – COVID 407,174 429,240 Subtotal 5,109,728 5,076,684 Reclassification of National-COVID – Long-term (366,171 ) (502,869 ) Ending balance $ 4,743,557 $ 4,573,815

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
CONVERTIBLE DEBT
Schedule of Convertible Debt	June 30, 2022 December 31, 2021 Beginning balance convertible notes $ 640,000 $ 1,447,000 New notes - 625,000 Payments - (907,000 ) Conversion to common stock (15,000 ) (525,000 ) Subtotal notes 625,000 640,000 Debt discount at year end (5,744 ) (258,938 ) Convertible note payable, net of discount $ 619,256 $ 381,062	2021 2020 Beginning balance convertible notes $ 1,447,000 $ 1,500,000 New notes 625,000 540,000 Payments (907,000 ) (593,000 ) Conversion to common stock (525,000 ) - Subtotal notes 640,000 1,447,000 Debt discount at year end (258,938 ) (494,973 ) Convertible note payable, net of discount $ 381,062 $ 952,027 Amount Balance on January 1, 2020 $ - Issuances to debt discount 456,570 Change in fair value of derivative liabilities 4,158 Balance on December 31, 2020 460,728 Issuances to debt discount 62,619 Reduction of derivative related to conversions (284,169 ) Change in fair value of derivative liabilities (193,513 ) Balance on December 31, 2021 $ 45,665 December 31, December 31, 2021 2020 Dividend yield 0 % 0 % Expected volatility 106.8%-107.3 % 140.4%-142.5 % Risk free interest rate 0.41%-0.44 % 0.11%-0.12 % Contractual terms (in years) .50 - .52 1.00 – 1.04
Derivative Liabilities	Amount Balance on January 1, 2022 $ 45,665 Issuances to debt discount - Reduction of derivative related to conversions (11,629 ) Change in fair value of derivative liabilities 7,255 Balance on June 30, 2022 $ 41,291 June 30, December 31, 2022 2021 Dividend yield 0 % 0 % Expected volatility 113.3 % 106.8%-107.3% Risk free interest rate 2.37 % 0.41%-0.44% Contractual terms (in years) .50 .50 – .52

DEBT (Tables)

DEBT (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
DEBT
Summary of Debt	June 30, 2022 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 1,299,784 $ 6,207,010 $ 10,077,977 $ 234,117 $ 17,818,888 Proceeds - - 335,008 - 335,008 Payments (157,663 ) (207,035 ) (2,085,132 ) (2,449,830 ) Conversion of debt (1,190,000 ) - - (1,190,000 ) Recapitalized upon debt modification - (129,002 ) (1,003,200 ) - (1,132,202 ) Accretion of debt 77,551 - - 77,751 Foreign currency translation 45,676 (105,056 ) (80,863 ) (19,109 ) (159,352 ) Subtotal 75,348 5,765,917 7,243,790 215,008 13,300,063 Notes payable - long-term - - (992,289 ) (187,337 ) (1,179,626 ) Notes payable - short-term $ 75,348 $ 5,765,917 $ 6,251,501 $ 27,671 $ 12,120,437 December 31, 2021 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 3,302,100 $ 6,446,000 $ 12,631,284 $ 435,210 $ 22,814,594 Proceeds - - 565,900 - 565,900 Payments (141,475 ) (57,835 ) (62,878 ) (3,233 ) (265,421 ) Conversion of debt (1,606,500 ) - (3,010,000 ) - (4,616,500 ) Recapitalized upon debt modification (86,670 ) - - - (86,670 ) Debt forgiveness - - - (169,770 ) (169,770 ) Foreign currency translation (167,671 ) (181,155 ) (46,329 ) (28,090 ) (423,245 ) Subtotal 1,299,784 6,207,010 10,077,977 234,117 17,818,888 Notes payable - long-term - (2,450,000 ) (9,854,906 ) (51,478 ) (12,356,384 ) Notes payable - short-term $ 1,299,784 $ 3,757,010 $ 223,071 $ 182,639 $ 5,462,504	December 31, 2021 Loan Facility Trade Facility Third Party COVID Loans Total Beginning balance $ 3,302,100 $ 6,446,000 $ 12,631,284 $ 435,210 $ 22,814,594 Proceeds - - 565,900 - 565,900 Payments (141,475 ) (57,835 ) (62,878 ) (3,233 ) (265,421 ) Conversion of debt (1,606,500 ) - (3,010,000 ) - (4,616,500 ) Recapitalized upon debt modification (86,670 ) - - - (86,670 ) Debt forgiveness - - - (169,770 ) (169,770 ) Foreign currency translation (167,671 ) (181,155 ) (46,329 ) (28,090 ) (423,245 ) Subtotal 1,299,784 6,207,010 10,077,977 234,117 17,818,888 Notes payable - long-term - (2,450,000 ) (9,854,906 ) (51,478 ) (12,356,384 ) Notes payable - short-term $ 1,299,784 $ 3,757,010 $ 223,071 $ 182,639 $ 5,462,504 December 31, 2020 Loan Facility Bridge Loans Trade Facility Third Party COVID Loans Total Beginning balance $ 3,078,442 $ 191,287 $ 6,245,400 $ 2,514,595 $ - $ 12,029,724 Proceeds - - - 16,121,500 435,210 16,556,710 Payments - (191,287 ) - (5,006,115 ) - (5,230,725 ) Conversion of debt (807,795 ) (807,795 ) Debt extinguishment (12,066 ) - - (192,205 ) - (204,271 ) Foreign currency translation 269,047 - 200,600 1,304 - 470,951 Subtotal 3,302,100 - 6,446,000 12,631,284 435,210 22,814,594 Notes payable - long-term (2,843,475 ) - (2,384,850 ) (5,543,557 ) - (10,771,882 ) Notes payable - short-term $ 458,625 $ - $ 4,061,150 $ 7,087,727 $ 435,210 $ 12,042,712 Our outstanding debt as of December 31, 2021 is repayable as follows: December 31, 2021 2022 $ 5,549,174 2023 11,709,951 2024 264,255 2025 268,724 2026 and thereafter 113,454 Total debt 17,905,558 Less: fair value adjustments to assumed debt obligations (86,670 ) Less: notes payable - current portion (5,462,504 ) Notes payable - long term portion $ 12,356,384
Summary of Outstanding Debt	Our outstanding debt as of June 30, 2022 is repayable as follows: June 30, 2022 2022 $ 3,140,672 2023 10,264,053 2024 338,399 2025 342,531 2026 and thereafter 340,992 Total debt 14,426,647 Less: fair value adjustments to assumed debt obligations (1,126,584 ) Less: notes payable - current portion (12,120,437 ) Notes payable - long term portion $ 1,179,626

LEASES (Tables)

LEASES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
LEASES
Summary of Operating Leases	Maturity of Lease Liability Remainder of 2022 $ 104,097 2023 208,195 2024 208,195 2025 136,952 Thereafter 380,823 Total undiscounted operating lease payments $ 1,038,262 Less: Imputed interest (180,239 ) Present value of operating lease liabilities 858,023	Maturity of Lease Liability 2022 $ 211,538 2023 182,316 2024 111,026 2025 111,026 2026 and thereafter 418,723 Total undiscounted operating lease payments $ 1,034,629 Less: Imputed interest (200,164 ) Present value of operating lease liabilities $ 834,465 Maturity of Lease Liability 2022 $ 85,231 2023 72,849 2024 55,765 2025 27,744 2026 and thereafter 4,211 Total undiscounted finance lease payments $ 245,800 Less: Imputed interest (24,321 ) Present value of finance lease liabilities $ 221,479
Summary of Finance Leases	Maturity of Lease Liability Remainder of 2022 $ 48,385 2023 87,349 2024 71,591 2025 43,547 Thereafter 24,868 Total undiscounted finance lease payments $ 275,740 Less: Imputed interest (28,403 ) Present value of finance lease liabilities $ 247,337

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
EARNINGS PER SHARE
Schedule of Basic net income loss per share	2021 2020 Numerator for Basic and Diluted Earnings Per Share: Net income (loss) $ (15,594,682 ) $ 820,786 Denominator for Basic Earnings Per Share: Weighted Average Shares 16,423,335 13,270,097 Potentially Dilutive Common Shares - 37,698 Adjusted Weighted Average Shares 16,423,335 13,307,795 Basic and Diluted Net Income (Loss) per Share (0.95 ) 0.06
Schedule of diluted net loss per share	2021 2020 Common Stock Warrants 3,567,827 - Common Stock Options 37,000 - Convertible Debt 218,977 - Total 3,823,804 -

STOCK OPTIONS AND WARRANTS (Tab

STOCK OPTIONS AND WARRANTS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
STOCK OPTIONS AND WARRANTS
Schedule of Option Activity	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance outstanding, January 1, 2022 37,000 $ 1.32 0.01 $ 75,850 Granted - - - - Forfeited - - - - Exercised - - - - Expired (37,000 ) - - - Balance outstanding, June 30, 2022 - $ - - $ - Exercisable, June 30, 2022 - $ - - $ -
Summary of Warrants Activity	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance outstanding, January 1, 2022 3,698,238 $ 2.02 2.03 $ 4,992,621 Granted 10,652,460 0.63 - - Forfeited - - - - Exercised (3,488,171 ) - - - Expired - - - - Balance outstanding, June 30, 2022 10,862,527 $ 0.66 5.09 $ - Exercisable, June 30, 2022 10,862,527 $ 0.66 5.09 $ -	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance Outstanding, January 1, 2020 74,000 $ 1.32 1.47 $ 64,800 Granted - - - - Forfeited (12,000 ) - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2020 62,000 $ 1.19 0.60 $ 242,200 Granted - - - - Forfeited - - - - Exercised - - - - Expired (25,000 ) - - - Balance Outstanding, December 31, 2021 37,000 $ 1.32 0.01 $ 75,850 Exercisable, December 31, 2021 37,000 $ 1.32 0.01 $ 75,850 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, January 1, 2020 1,164,673 $ 6.41 4.01 $ - Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2020 1,164,673 $ 6.41 3.01 $ 5,360 Granted 2,533,565 2.02 2.04 - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2021 3,698,238 $ 2.02 2.03 $ 4,992,621 Exercisable, December 31, 2021 3,698,238 $ 2.02 2.03 $ 4,992,621

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
DISAGGREGATION OF REVENUE
Schedule of Revenue Disaggregation	June 30, June 30, Country 2022 2021 Germany - 3 Greece 13,152,257 14,504,869 Italy - 4 Denmark - 14 Cyprus - 64,225 UK 40,831 265,828 Croatia 15,416 11,982 Total $ 13,208,504 $ 14,846,925 June 30, June 30, Country 2022 2021 Germany - 13,617 Greece 26,161,295 25,958,364 Italy - 15,731 Denmark - 54,700 Cyprus - 78,948 UK 92,257 332,659 Croatia 26,752 11,982 Total $ 26,280,304 $ 26,466,001	Country 2021 2020 Croatia $ 18,441 $ 24,840 Cyprus 112,640 36,987 Denmark 53,710 537,098 France - 18,988 Germany 13,370 1,314,381 Greece 55,564,240 51,259,784 Ireland - 36,349 Italy 15,446 75,183 Jordan - 29,635 Libya - 1,028 Netherlands - 188,890 Poland - 29,358 UK 461,820 1,853,816 Total $ 56,239,667 $ 55,406,337

ORGANIZATION NATURE OF BUSINE_2

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Euro [Member]
Average exchange rate for the period
USD exchange rate	1.1318	1.2230
USD average exchange rate	1.1830	1.1410
GBP [Member]
Average exchange rate for the period
USD exchange rate	1.3500	1.3662
USD average exchange rate	1.3764	1.2829

ORGANIZATION NATURE OF BUSINE_3

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details 1)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Vehicles [Member]
Estimated Useful Life	6 years	6 years
Furniture, fixtures and equipment [Member] | Minimum [Member]
Estimated Useful Life	5 years	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Estimated Useful Life	10 years	10 years
Computers and software [Member] | Minimum [Member]
Estimated Useful Life	3 years	3 years
Computers and software [Member] | Maximum [Member]
Estimated Useful Life	5 years	5 years
Machinery [Member]
Estimated Useful Life	20 years	20 years
Leasehold improvements and technical works [Member]
Estimated Useful Life	Lesser of lease term or 40 years	Lesser of lease term or 40 years

ORGANIZATION NATURE OF BUSINE_4

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details 2) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair value of assets and liabilities		$ 11,468	$ 222,792
Equity securities - Pancreta Bank [Member]
Fair value of assets and liabilities	$ 5,407	4,772
Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	0	0	0
Level 1 [Member]
Fair value of assets and liabilities	4,925	6,696	222,792
Level 1 [Member] | Equity securities - Pancreta Bank [Member]
Fair value of assets and liabilities	0	0
Level 1 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	0	0	0
Level 3 [Member] | Equity securities - Pancreta Bank [Member]
Fair value of assets and liabilities	10,332	0
Level 3 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	0	0	0
Level 2 [Member]
Fair value of assets and liabilities	5,407	4,772
Level 2 [Member] | Equity securities - Pancreta Bank [Member]
Fair value of assets and liabilities	5,407	4,772
Level 2 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	0	0	0
Marketable securities - Divsersa S.A. [Member]
Fair value of assets and liabilities		0	218,183
Marketable securities - Divsersa S.A. [Member] | Level 1 [Member]
Fair value of assets and liabilities		11,982	218,183
Marketable securities - Divsersa S.A. [Member] | Level 3 [Member]
Fair value of assets and liabilities		0	0
Marketable securities - Divsersa S.A. [Member] | Level 2 [Member]
Fair value of assets and liabilities		0	0
Marketable securities - National Bank of Greece [Member]
Fair value of assets and liabilities	4,925	6,696	4,609
Marketable securities - National Bank of Greece [Member] | Level 1 [Member]
Fair value of assets and liabilities	4,925	6,696	4,609
Marketable securities - National Bank of Greece [Member] | Level 3 [Member]
Fair value of assets and liabilities	0	0	0
Marketable securities - National Bank of Greece [Member] | Level 2 [Member]
Fair value of assets and liabilities	$ 0	$ 0	$ 0

ORGANIZATION NATURE OF BUSINE_5

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details 3) - integer	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
BASIS OF PRESENTATION
Number of 10% clients	1	1
Percentage of total revenue	15.33%	14.82%
Percentage of total AR	35.08%	14.65%

ORGANIZATION NATURE OF BUSINE_6

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details 4) - shares	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
BASIS OF PRESENTATION
Weighted average number of common shares outstanding Basic	19,540,097	16,105,409	18,652,736	15,572,773	16,423,335	13,270,097
Potentially dilutive common stock equivalents						37,698
Weighted average number of common and equivalent shares outstanding - Diluted	19,540,097	16,105,409	18,652,736	15,572,773	16,423,335	13,307,795

ORGANIZATION NATURE OF BUSINE_7

ORGANIZATION NATURE OF BUSINESS AND GOING CONCERN (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Nov. 21, 2017	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2020	Jan. 01, 2020	Dec. 19, 2018	Mar. 23, 2017	Feb. 28, 2017
REVENUE		$ 13,208,504		$ 14,846,925		$ 26,280,304	$ 26,466,001	$ 56,239,667	$ 55,406,337
Net income (loss)		(1,241,256)	$ 203,347	(2,379,056)	$ (2,173,903)	(1,037,909)	(4,552,959)	(7,961,649)	820,786	$ 820,786
NET CASH USED IN OPERATING ACTIVITIES						(3,023,685)	(2,519,394)	(7,097,174)	(11,501,718)
WORKING CAPITAL DEFICIT		4,128,418				4,128,418		(10,950,492)
Accumulated deficit		52,352,868				52,352,868		34,345,506	18,750,824	18,750,824
TOTAL STOCKHOLDERS' EQUITY		5,130,056	$ 4,910,249	384,548	$ (2,804,680)	5,130,056	384,548	4,379,463	(4,161,013)	(4,161,013)	$ (6,460,829)
General and administrative expenses				578,598			1,104,169
Accumulated depreciation								7,393
Goodwill and intangible assets								4,772
Salaries and wages							531,556		2,082,453
Customer deposits							2,312
Allowance for doubtful accounts		1,575,015				1,575,015		1,702,743
VAT net payable balance		497,182				497,182		400,616
Depreciation expense		80,576		78,341		165,456	149,812	319,337	240,886
Amortization expense		8,249		8,249		16,407	16,407
Reverse stock split, description	the Company effected a one-for-ten (1:10) reverse stock split whereby the Company decreased, by a ratio of one-for-ten (1:10) the number of issued and outstanding shares of common stock
Goodwill		49,697				49,697		49,697	49,697	49,697		$ 49,697
Reduction in additional paid-in capital						294,000
Reduction in accumulated deficit						53,248
Reduction in discount on convertible notes payable						(240,752)
Customer deposits									22,340	22,340
Accounts Payable									230,505	230,505
Reclassified Liabilities, Current									502,869	502,869
Bad debt expenses								$ 1,087,339	96,237
Income tax term								5 years
Allowance for doubtful accounts								$ 1,702,743	715,845
Cash on hand								25,773	31,604	31,604
Accumulated deficit		(52,352,868)				(52,352,868)		(34,345,506)	(18,750,824)	(18,750,824)
Prepaid expenses and other current assets								400,616	159,198	159,198
Amortization expense								33,085	33,176
Potential retirement and termination benefits liability								$ 0	107,167	107,167
Periodic inventory level, percentage								100%
Description of Potential retirement and termination benefits liability								If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day
Equity securities - Pancreta Bank [Member]
Additional investments in equity securities						5,407
Import/export license [Member]
Estimated Useful Life								5 years
Share Exchange Agreement [Member] | Equity securities - Pancreta Bank [Member]
Additional investments in equity securities						$ 5,407
Pancreta Bank [Member]
Equity method investment shares acquired, value								$ 4,416	$ 4,772	4,772
Decahedron Ltd [Member] | Stock Purchase Agreement [Member]
Common stock shares reserved														170,000
SkyPharm [Member] | Second amendment to loan facility agreement [Member]
Common stock shares reserved													1,000,000
Diversa S.A. [Member]
Equity method investment shares acquired, shares									40,000
Closing price									$ 5.45
Equity method investment shares acquired, value									$ 218,183	218,183
National Bank of Greece [Member]
Equity method investment shares acquired, shares						16,666		16,666	16,666
Closing price						$ 0.30		$ 0.40	$ 0.28
Equity method investment shares acquired, value		6,822				$ 6,822		$ 6,696	$ 4,609	4,609
National Bank of Greece [Member] | Share Exchange Agreement [Member]
Equity method investment shares acquired, shares						16,666
Closing price						$ 0.30
Equity method investment shares acquired, value		4,925				$ 4,925
Equity method investment shares acquired, shares						4,925
ICC International Cannabis Corp [Member]
Equity method investment shares acquired, shares						3,000,000		3,000,000	3,000,000
Closing price						$ 0		$ 0	$ 0
Equity method investment shares acquired, value		0				$ 0		$ 0	$ 0	0
Greece [Member]
REVENUE		$ 13,152,257		$ 14,504,869		$ 26,161,295	$ 25,958,364	55,564,240	51,259,784
Total amounts in account								$ 101,589	134,935	134,935
Income tax rate								22%
Bulgaria [Member]
Total amounts in account								$ 4,061	1,651	1,651
United Kingdom Of England [Member]
Income tax rate						19%
Total amounts in account								$ 144,489	$ 448,659	$ 448,659

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative)	1 Months Ended			6 Months Ended				12 Months Ended
	Jul. 16, 2018 USD ($) shares	May 17, 2018 USD ($) shares	May 17, 2018 USD ($) shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 CAD ($) shares	Jun. 30, 2022 EUR (€) shares	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 CAD ($) shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 USD ($) $ / shares shares	Sep. 30, 2019	Jun. 30, 2019
Net unrealized loss on fair value investment				$ 56				$ 2,541			$ 2,246
Investement								$ 169,770			$ 183,450
Marketable securities - Divsersa S.A. [Member]
Closing price of shares | $ / shares											$ 5.45
Shares issued as marketable securities | shares											40,000
Stock issued during the period, amount											$ 218,183
Marketable securities - National Bank of Greece [Member]
Closing price of shares | $ / shares								$ 0.40			$ 0.28
Marketable securities								$ 6,696			$ 4,609
Shares issued as marketable securities | shares								16,666			16,666
National Bank of Greece [Member]
Equity method investment shares acquired, value				$ 6,822				$ 6,696			$ 4,609
Equity method investment shares acquired, shares | shares				16,666	16,666	16,666		16,666	16,666	16,666	16,666
Closing price | $ / shares				$ 0.30				$ 0.40			$ 0.28
Cosmo Farmacy LP [Member]
Investement				$ 157,035				$ 169,770
Cash contributed to limited partner | €						€ 150,000,000,000				€ 150,000
Initial share capital increased | €						500,000,000,000				500,000
Pharmacy license value | €						€ 350,000,000,000				€ 350,000
Maturity period of license				30 years	30 years	30 years		30 years	30 years	30 years
Ownership equity												70%	70%
Initial share capital | €						€ 150,000,000,000				€ 150,000
Equity ownership remaining												30%	30%
Share Exchange Agreement [Member] | National Bank of Greece [Member]
Equity method investment shares acquired, value				$ 4,925
Equity method investment shares acquired, shares | shares				16,666	16,666	16,666
Closing price | $ / shares				$ 0.30
Equity securities - Pancreta Bank [Member]
Additional investments in equity securities				$ 5,407
Equity securities - Pancreta Bank [Member] | Share Exchange Agreement [Member]
Additional investments in equity securities				$ 5,407
ICC [Member] | Share Exchange Agreement [Member]
Net unrealized loss on fair value investment								$ 0
Investement								0			$ 0
Upfront cash received								$ 211,047
Description for ownership percentage	The ten million shares of ICC owned by the Company constituted approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding. The Company does not have the ability to exercise significant influence over ICC							Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in future for its services under the Distribution and Equity Acquisition Agreement	Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in future for its services under the Distribution and Equity Acquisition Agreement	Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in future for its services under the Distribution and Equity Acquisition Agreement
Additional shares issued, shares | shares								3,000,000			3,000,000
Equity method investment shares acquired | shares	5,000,000
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member]
Equity interest acquired description				a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services		a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services
Cash received upon gross sales					$ 2,750,000
Gross sales					6,500,000
Upfront cash received					2,000,000				$ 2,000,000
Agreement term								5 years	5 years	5 years
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member] | Gross Sales One [Member]
Cash received upon gross sales					2,750,000				$ 2,750,000
Gross sales					13,000,000				13,000,000
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member] | Gross Sales [Member]
Cash received upon gross sales					$ 2,750,000				2,750,000
Gross sales									$ 6,500,000
Marathon Global Inc [Member] | May and July 2018 [Member]
Consideration for the distribution services, shares								$ 5,000,000
Marathon Global Inc [Member] | Share Exchange Agreement [Member]
Gain on exchange of investment	$ 2,092,200	$ 1,953,000	$ 1,953,000
Shares of Marathon transferred by company to KBB | shares	2,500,000
Kaneh Bosm Biotechnology Inc [Member] | Share Exchange Agreement [Member]
Transfer of shares | shares		2,500,000	2,500,000
Kaneh Bosm Biotechnology Inc [Member] | Share Exchange Agreement [Member] | Canadian Securities Exchange [Member]
Exchange of shares | shares		5,000,000	5,000,000
ICC [Member] | Share Exchange Agreement [Member]
Net unrealized loss on fair value investment							$ 0
Investement				$ 0				$ 0
Exchange of shares | shares	5,000,000
Description for ownership percentage	The ten million shares of ICC owned by the Company constituted approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding. The Company does not have the ability to exercise significant influence over ICC.			Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in the future for its services under the Distribution and Equity Acquisition Agreement	Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in the future for its services under the Distribution and Equity Acquisition Agreement	Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in the future for its services under the Distribution and Equity Acquisition Agreement
Additional shares issued, amount | shares				0
Additional shares issued, shares | shares				3,000,000

PROPERTY PLANT AND EQUIPMENT (D

PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Property plant and equipment	$ 2,605,892	$ 2,822,525	$ 2,447,427
Less: Accumulated depreciation	(986,665)	(941,866)	(690,214)
Total	1,619,227	1,888,052	1,757,213
Computers and software [Member]
Property plant and equipment	134,122	141,490	149,005
Vehicles [Member]
Property plant and equipment	77,752	96,657	105,057
Leasehold Improvements [Member]
Property plant and equipment	482,848	519,278	560,711
Furniture, fixtures and equipment [Member]
Property plant and equipment	$ 1,911,170	$ 2,065,100	$ 1,632,654

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 19, 2018
Goodwill and intangible assets, gross		$ 559,529	$ 263,790
Less: Accumulated Amortization	$ (152,990)	(123,459)	(82,981)
Subtotal	691,306	436,070	180,809
Goodwill	49,697	49,697	49,697	$ 49,697
Total	741,003	485,767	230,506
Customer Base [Member]
Goodwill and intangible assets, gross	176,793	176,793	176,793
Trade name / mark [Member]
Goodwill and intangible assets, gross	36,997	36,997	36,997
License [Member]
Goodwill and intangible assets, gross	$ 630,506	$ 345,739	$ 50,000

LOAN RECEIVABLE (Details Narrat

LOAN RECEIVABLE (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
LOAN RECEIVABLE (Details Narrative)
Prepayments of loan	$ 4,849,221	$ 172,237
Short-term receivable		358,982	$ 377,590
Long-term receivable		3,897,876	4,410,689
Principal payments		$ 164,521	$ 60,942
Interest rate	5.50%
Loan receivables term	360 years
Decription of loan payment	the Company is to receive 120 equal payments over the term of the loan

CAPITAL STRUCTURE (Details Narr

CAPITAL STRUCTURE (Details Narrative) - USD ($)								1 Months Ended										3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 14, 2022	May 02, 2022	Dec. 08, 2021	Aug. 04, 2021	Jul. 19, 2021	Feb. 05, 2021	Jul. 13, 2020	May 25, 2022	Feb. 28, 2022	Dec. 29, 2021	Sep. 15, 2021	Jun. 23, 2021	Nov. 30, 2020	Oct. 31, 2020	Sep. 30, 2020	Aug. 31, 2020	Jul. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	May 01, 2022	Mar. 31, 2022	Dec. 21, 2021	Jul. 13, 2021	Oct. 29, 2020	Dec. 31, 2019
Preferred stock, shares authorized																		100,000,000			100,000,000		100,000,000	100,000,000
Restricted shares of Common stock																				1,800,000	1,800,000
Stock earned per month																				200,000	200,000
Retained agreement descriptions																					The shares were valued on the date of the agreement at $3.28 per share or $5,904,000, which was be amortized over the term of the agreement.
Expenses during Consulting Agreement																		$ 0	$ 3,157,451		$ 0	$ 3,157,451
Conversion of Debt																		1,190,000			1,190,000		$ 550,144		$ 0
Liquidated damages payable								$ 187,970
Deemed dividend								$ 8,189,515
Conversion price description								from $3.00 to $0.62152
Extinguishment of debt																		$ 216,580			216,580		124,711
Gain Extinguishment of debt																					$ 216,580
Fair value per share																		$ 4.09			$ 4.09
Conversion price								$ 0.62152
Conversion of stock in to common stock		39,339																			4,892,222
Conversion of stock value		$ 38,144																			$ 2,427,693
Convertible stock		26,515																			3,034
Derivative liability																		$ 41,291			$ 41,291		$ 45,665	$ 460,728	$ 11,629	$ 30,664				$ 0
Issue shares of common stock																					1,284,787
Cashless exercise warrants																					3,488,171
Common stock, shares authorized																		300,000,000			300,000,000		300,000,000	300,000,000
Common stock, shares issued																		23,998,857			23,998,857		17,544,509	13,485,128	39,339
Common stock, shares outstanding																		23,611,433			23,611,433		17,157,085	13,069,800
Series A preferred stock																		$ 5,452,300			$ 5,452,300
Cancellation of treasury shares											57,120
Extinguishment of debt																							$ 2,564,363
Cancellation of treasury shares, value											$ 171,360
Common stock, shares issued																							17,544,509	13,485,128
Common stock shares authorized																							300,000,000	300,000,000
Stock-based compensation																							$ 5,904,000
Stock-based compensation, shares earned																				1,800,000
Capital contribution																							$ 959,025
Stock held in treasury, value						$ 250,000											$ 40,000
Share price						$ 3.85
Preferred stock, shares outstanding																							0	0
Deemed dividend on warrants																		0	$ 0		5,788,493	0
Additional paid-in capital																		$ 59,861,359			59,861,359		$ 39,675,753	$ 14,333,285
Gain on debt extinguishment																					$ 1,004,124	$ 445,636	606,667	942,029
Issuance of Warrants [Member]
Deemed dividend	$ 8,480,379
Conversion price description	$3.30 to $0.62152
Warrants grant	8,619,127							33,333
Stock based compensation								$ 24,101
Common stock fair value	$ 1.07							$ 1.07
Exercise price	$ 0.62152							$ 3.30
Volatility	121.47%							107.30%
Dividend rate	0%							0%
Term	5 years							5 years 2 months 26 days
Discount rate	2.99%							2.71%
Principal amount	$ 2,000,000
Derivative liability[Member]
Additional paid-in capital																							$ 284,169
Series A Preferred Stock [Member]
Preferred stock, shares authorized																		6,000,000			6,000,000		6,000,000
Preferred stock, shares outstanding																		2,966			2,966		0
Preferred stock, Liquidation Preference																		6,000,000			6,000,000
Preferred stock, shares issued																		6,000			6,000		0
Series A Preferred Stock [Member] | Private Placement [Member]
Sales of shares									6,000
Warrants									2,000,000
Aggregate gross proceeds warrants									$ 6,000,000
Warrants, Description									The Warrants were initially exercisable to purchase shares of common stock at $3.30 per share, or 110% of the Series A Shares initial conversion price and will expire five and one-half years following the initial exercise date of the Warrants.
Warrants Black-Scholes option pricing model , Description									The warrants were valued using the Black-Scholes option pricing model with the following terms: a) exercise price of $3.30, b) common stock fair value of $3.42, c) volatility of 118%, d) discount rate of $1.71%, and e) dividend rate of 0%.
Additional value of Warrants									2,000,000
Deemed dividend on warrants																					$ 5,788,493
Debt Exchange Agreements
Capital contribution																							$ 10
Principal amount												$ 3,000,000
Exchange rate												$ 6
Increase in equity			$ 750,000																				1,000,000
Debt Exchange Agreement [Member]
Common stock, shares issued				321,300																									259,741
Share issued price per share																													$ 3.85
Debt Exchange Agreement [Member] | Chief Executive Officer [Member]
Principal amount			125,000		$ 1,250,000	$ 3,010,000						$ 3,000,000																$ 1,000,000
Aggregate common stock value			$ 750,000
Exchange rate			$ 6		$ 6
Increase in equity																							1,250,000
Exchange share of common stock					208,333
Share issued price per share			3.44		$ 4.30	$ 3.28						$ 5																$ 4.03
Debt Exchange Agreement [Member] | Lender [Member]
Principal amount				$ 1,606,500		$ 3,010,000						$ 3,000,000																$ 1,000,000
Shares issued						781,819
Exchange rate			$ 6	$ 5		$ 3.85						$ 6																$ 6
Exchange share of common stock			750,000				166,667					500,000
Share issued price per share				$ 4.09		$ 3.28						$ 5																$ 4.03
Increase in equity				$ 1,314,117		$ 455,636																	3,000,000
Gain on debt extinguishment																							445,636
Debt Conversions [Member]
Capital contribution																					$ 973,420		$ 550,144
Shares issued						781,819												238,000			238,000		213,382
Stock Purchase Agreement [Member] | February [Member] | Shareholder [Member]
Stock held in treasury, value						$ 250,000
Share price						$ 3.85
Treasury stock sell						65,000
Stock Purchase Agreement [Member] | July [Member] | Shareholder [Member]
Common stock, shares purchased																	10,000
Common stock, purchase price																	$ 4
Aggregate common stock value																	$ 40,000
Payment made against shares purchased																								40,000
Stock Purchase Agreement [Member] | August [Member] | Shareholder [Member]
Common stock, shares purchased																10,000
Common stock, purchase price																$ 4
Aggregate common stock value																$ 40,000
Payment made against shares purchased																								40,000
Stock Purchase Agreement [Member] | Sepetember [Member] | Shareholder [Member]
Common stock, shares purchased															10,000
Common stock, purchase price															$ 4
Aggregate common stock value															$ 40,000
Payment made against shares purchased																								40,000
Stock Purchase Agreement [Member] | October [Member] | Shareholder [Member]
Common stock, shares purchased														10,000
Common stock, purchase price														$ 4
Aggregate common stock value														$ 40,000
Payment made against shares purchased																								40,000
Stock Purchase Agreement [Member] | November [Member] | Shareholder [Member]
Common stock, shares purchased													10,000
Common stock, purchase price													$ 4
Aggregate common stock value													$ 40,000
Payment made against shares purchased																								$ 40,000
Stock Purchase Agreement [Member] | December [Member] | Shareholder [Member]
Common stock, shares purchased										94,216
Common stock, purchase price										$ 4
Aggregate common stock value										$ 376,863
Common Stock
Extinguishment of debt																							$ 1,314,117
Share price																							$ 2.58				$ 2.58

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loss before provision for income taxes	$ (7,847,638)	$ 1,198,321
Domestic [Member]
Loss before provision for income taxes	(8,365,297)	(2,901,276)
Foreign [Member]
Loss before provision for income taxes	$ 517,659	$ 4,099,597

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current tax provision
Federal	$ 0	$ 0
State	0	0
Foreign	802,364	555,965
Total current tax provision	802,364	555,965
Deferred tax provision
Domestic	0	0
State	0	0
Foreign	(688,354)	(178,430)
Total deferred tax provision	(688,354)	(178,430)
Total current provision	$ 114,010	$ 377,535

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Income (loss) before income taxes					$ (7,847,639)	$ 1,198,321
Taxes under statutory US tax rates					(1,648,004)	251,647
Increase in valuation allowance					3,001,899	216,518
Foreign tax rate differential					(24,977)	(55,540)
Permanent differences					(734,428)	(218,216)
US tax on foreign income					493,028	604,419
163(j) catch up					(76,888)	0
Prior period adjustments					52,034	(97,829)
State taxes					(948,654)	(323,464)
Income tax expense	$ 9,563	$ 75,230	$ 216,503	$ 99,409	$ 114,010	$ 377,535

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 19, 2018
Allowance for doubtful accounts	$ 1,575,015		$ 1,702,743
Accrued expenses			3,100
Gain on extinguishment of debt	1,004,124	$ 445,636	606,667	$ 942,029
Goodwill	$ 49,697		49,697	49,697	$ 49,697
Deferred Income Taxes [Member]
Net operating loss carryforward			4,515,900	1,494,424
Capital loss carryforward			801,744	801,744
Section 163(j) carryforward			0	0
Nonqualified Stock Options			96,104	170,297
Foreign exchange			13,438	0
Allowance for doubtful accounts			374,604	0
Accrued expenses			528,895	7,389
Mark to market adjustment to securities			358,761	357,829
Lease liability			253,620	247,797
Gain on extinguishment of debt			0	179,958
Depreciation			(6,765)	4,226
Total Deferred tax assets			6,936,211	3,263,664
Intangibles			(8,139)	(10,729)
Inventory			(14,728)	0
Right of use asset			(243,207)	(253,818)
Goodwill			(10,979)	(14,473)
Total Deferred tax liabilities			(277,053)	(279,020)
Valuation allowance			(5,808,384)	(2,806,214)
Net deferred tax assets (liabilities)			$ 850,774	$ 178,430

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Income tax expense	$ 9,563	$ 75,230	$ 216,503	$ 99,409	$ 114,010	$ 377,535
Federal Statutory Income Tax Rate, description					subject to limitation under IRC Section 382. Of the $12.5 million Federal NOL carryforwards, $2.5 million are pre-2018 and begin to expire in 2031. The remaining balance of $10 million, are limited to utilization of 80% of taxable income but do not have an expiration.
Undistributed earnings					$ 1,700,000
Distribution expense					350,300
Valuation allowances						$ 200,000
Net operating loss carry forward					12,513,177
United States [Member]
Net operating loss carry forward					$ 546,683
Expiry					2031

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Notes Payable - Related Party [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Beginning Balance	$ 464,264	$ 501,675	$ 1,375,532
Foreign currency translation	(34,826)	(37,411)
Ending Balance	$ 429,438	464,264	501,675
Payments		$ 0	$ (996,136)

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - Loans Payable - Related Party [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Beginning Balance	$ 1,293,472	$ 1,629,246	$ 1,026,264
Proceeds	526,612	6,377,156	725,563
Payments	(449,643)	(133,552)	(149,695)
Conversion of debt	0	(6,000,000)
Settlement of lawsuit	0	(600,000)	0
Foreign currency translations	(88,639)	20,623	27,114
Ending Balance	$ 1,281,802	$ 1,293,472	$ 1,629,246

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)			3 Months Ended				6 Months Ended		12 Months Ended
	May 10, 2021	Oct. 10, 2020	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 20, 2018	May 25, 2022
Revenue			$ 13,208,504		$ 14,846,925		$ 26,280,304	$ 26,466,001	$ 56,239,667		$ 55,406,337
Foreign curreny translation							159,352		423,245
Net income (loss)			(1,241,256)	$ 203,347	(2,379,056)	$ (2,173,903)	(1,037,909)	(4,552,959)	$ (7,961,649)	$ 820,786	$ 820,786
Debt instrument conversion price													$ 0.62152
Shares issued									17,544,509	13,485,128	13,485,128
Accrued interest			1,429,722				1,429,722		$ 1,019,889	$ 742,374	$ 742,374
Grigorios Siokas Three [Member]
Foreign curreny translation									20,623		27,114
Additional proceeds from debt							426,612		275,306
Outstanding principal balance			426,612				426,612		1,293,472	1,629,246	1,629,246
Repayment of loans							449,643		133,552
Net income (loss)							88,639
Borrowing									$ 2,040,635
Debt instrument conversion price									$ 6
Convertible share description									Mr. Siokas whereby the Company exchanged an aggregate total of $6,000,000 of debt into 1,000,000 shares of Common Stock at above market prices.
Debt instrument converted amount									$ 2,250,000
Shares issued									375,000
Grigorios Siokas [Member]
Outstanding principal balance			418,760				418,760		$ 452,720	489,200	489,200
Borrowing												$ 1,718,400
Maturity date												Mar. 18, 2019
Accrued interest			195,399				195,399		200,683	193,585	193,585
Interest rate												4.70%
Litigation settlement	$ 600,000
Plantiff attorney fees	120,000
Litigation cost	$ 4,137
Dimitrios Goulielmos [Member]
Outstanding principal balance			10,678				10,678		11,544	12,475	12,475
Gain incured							34,826
DOC Pharma S.A. [Member]
Prepaid balance			4,120,335				4,120,335		3,263,241	3,468,564	3,468,564
Accounts payable balance			511,143				511,143		565,756
Net prepaid balance			3,609,192				3,609,192
Accounts receivable balance			2,299,982				2,299,982		2,901,300	$ 3,468,653	3,468,653
Payments to purchase products			624,627		1,091,118		1,328,435	1,413,924	3,084,805		5,983,809
Revenue			34,132		$ 523,712		418,717	$ 796,917	978,321		2,843,260
Foreign curreny translation									$ 37,411		$ 122,279
Agreement term									5 years
Pieces per product									1,000 pieces
Inventroy purchase									$ 2,010,517
Description of research and development									Design & Development (€725,000); Control and Product Manufacturing (€250,000) and Clinical Study and Research (€450,000). In the year ended December 31, 2021, SkyPharm bought 67 licenses at value of €261,300 ($295,739) from Doc Pharma which was the 18.33% of the total cost. The agreement will be terminated on December 31, 2025
DOC Pharma S.A. [Member] | Outsourcing Agreement [Member]
Agreement term		5 years
Pieces per product		1,000
Inventroy purchase			$ 289,860				289,860
Grigorios Siokas Four [Member]
Additional proceeds from debt							$ 100,000

LINES OF CREDIT (Details)

LINES OF CREDIT (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Subtotal	$ 4,987,505	$ 5,109,728	$ 5,076,684
Reclassification of National-COVID - Long-term	(191,825)	(366,171)	(502,869)
Line of credit		4,743,557	4,573,815
National [Member]
Line of credit	2,651,660	3,265,236	3,540,550
Alpha [Member]
Line of credit	811,432	947,333	1,106,894
National - COVID [Member]
Line of credit	314,885	407,174	429,240
Pancreta [Member]
Line of credit	790,193	489,985	$ 0
EGF [Member]
Line of credit	$ 419,335	$ 0

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Jun. 23, 2020
Interest Expense	$ 17,175	$ 16,501	$ 133,786	$ 153,589
Lines of credit classified					$ 366,171	$ 366,171
Interest Expense	560,643	$ 780,607	1,079,992	1,512,433	2,823,842	2,761,004
Lines of credit					$ 4,743,557	4,573,815
COVID-19 Government Funding [Member]
Interest Expense			378	$ 0
Common Stock
Interest Rate					2.70%
Interest Expense					$ 1,753	3,910
Lines of credit					407,174	429,240
Line of Credit [Member] | National Bank of Greece One [Member]
Borrowing	3,114,527		3,114,527		2,489,960	2,690,600
Outstanding debt balance	1,685,579		1,685,579		$ 2,185,413	2,411,182
Interest Rate					6%
Line of Credit [Member] | EGF [Member]
Borrowing	418,760		418,760
Line of credit facility outstanding balance			419,335
Alpha Bank of Greece [Member] | Line of Credit [Member]
Borrowing	1,046,900		1,046,900		$ 1,131,800	1,123,000
Outstanding debt balance	811,432		811,432		$ 947,333	1,106,894
Interest Rate					6%
National Bank of Greece Two [Member] | Line of Credit [Member]
Borrowing	1,046,900		1,046,900		$ 1,131,800	1,223,000	$ 611,500
Outstanding debt balance	966,081		966,081		$ 1,079,823	1,129,368
Interest Rate					4.35%
Pancreta Bank of Greece [Member] | Line of Credit [Member]
Borrowing	1,046,900		1,046,900		$ 565,900
Outstanding debt balance	$ 790,193		$ 790,193		$ 489,985
Interest Rate					6.10%
Interest Expense					$ 283,415	$ 270,655

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
DEBT
Beginning balance notes	$ 640,000	$ 1,447,000	$ 1,500,000
New notes	0	625,000	540,000
Payments	0	(907,000)	(593,000)
Conversion to common stock	(15,000)	(525,000)	0
Subtotal notes	625,000	640,000	1,447,000
Debt discount at year end	(5,744)	(258,938)	(494,973)
Convertible note payable net of discount	$ 619,256	$ 381,062	$ 952,027

CONVERTIBLE DEBT (Details 1)

CONVERTIBLE DEBT (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
DEBT
Beginning balance	$ 45,665	$ 460,728	$ 0
Issuances to debt discount	0	62,619	456,570
Reduction of derivative related to conversions	(11,629)	(284,169)
Change in fair value of derivative liabilities	7,255	(193,513)	(4,158)
Ending balance	41,291	45,665	460,728
Change in fair value of derivative liabilities	$ (7,255)	$ 193,513	$ 4,158

CONVERTIBLE DEBT (Details 2)

CONVERTIBLE DEBT (Details 2)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividend yield	0%	0%	0%
Maximum [Member]
Expected life		6 months 7 days	1 year 14 days
Risk-free interest rate		107.30%	0.12%
Expected volatility		0.44%	142.50%
Minimum [Member]
Expected life	6 months	6 months	1 year
Risk-free interest rate	2.37%	0.41%	0.11%
Expected volatility	113.30%	106.80%	140.40%

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)		1 Months Ended						6 Months Ended		12 Months Ended
	Sep. 04, 2018	Sep. 17, 2021	Jun. 18, 2021	Dec. 21, 2020	Sep. 23, 2020	Mar. 23, 2020	Nov. 15, 2017	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018	May 25, 2022	May 01, 2022	Mar. 31, 2022	Dec. 21, 2021	Sep. 30, 2021	Aug. 16, 2021	Jul. 14, 2021	Feb. 05, 2021	Jan. 07, 2021	Dec. 16, 2020	Dec. 31, 2019	May 31, 2019	May 17, 2019
Convertible note payable net								$ 519,256
Debt discount								294,000
Interest expense								358,982		$ 377,590
Average price per share																				$ 3.85
Convertible notes payable, principal amount								619,256		381,062	$ 952,027										$ 100,000
Derivative liability								$ 41,291		$ 45,665	$ 460,728			$ 11,629	$ 30,664								$ 0
Shares issued										17,544,509	13,485,128
Common stock, par value								$ 0.001		$ 0.001	$ 0.001
Extinguishment of debt								$ 216,580		$ 124,711
Additional paid-in capital								59,861,359		39,675,753	$ 14,333,285
Accumulated deficit								(52,352,868)		$ (34,345,506)	$ (18,750,824)
Conversion price													$ 0.62152
Forbearance and Amendment Agreement [Member]
Event of default descriptions					The Note provides that upon an Event of Default, the Buyer may, among other things, require the Company to redeem all or a portion of the Note at a redemption premium of 120%, multiplied by the product of the conversion rate ($6.00 per share) and the then current market price.
Exercise price						6.0
Prepayment amount					$ 63,000	$ 100,000
Aggregate outstanding amount					480,000	$ 200,000
Remaining outstanding amount					$ 607,000
Breach of agreement description					the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date), (b) during the Forbearance Period (as defined) waive the prepayment premium to any Company Optional Redemption (which will result in the 120% redemption premium effectively replaced with 100%), and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to June 16, 2021.
Third Forbearance Agreement [Member]
Forbearance period description			The Scheduled Required Prepayments are $62,000 upon the first scheduled required prepayment and five (5) payments thereafter aggregating $287,000 with the remainder outstanding under the Note due on November 16, 2021.
Interest rate			10%
Placement agent [Member] | Roth Capital Partners, LLC [Member]
Interest Rate										25%
Common Stock
Average price per share										$ 2.58						$ 2.58
Accrued interest										$ 25,144						$ 25,144
Fees into common stock shares										213,382						213,382
Common stock, par value											$ 0.001
Securities Purchase Agreement [Member]
Convertible note payable net										$ 266,063						$ 266,063
Gain on change in fair value of derivative liability								1,449	$ 22,082
Amortization of debt discount										60,063
Accrued intetest										15,166				26,515		15,166
Remaining debt discount										258,938						258,937
Series A preferred stock issued		5,000,000
Average price per share		$ 1																$ 2.58	$ 2.58
Series A preferred stock issued value		$ 5,000,000
Description of series A preferred stock		The Series A Preferred Stock will be convertible into the Company’s Common Stock as determined by multiplying the number of shares of Series A Preferred Stock to be converted by the lower of (i) $4.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five (5) days prior to the date of Uplisting, subject to a floor of $3.00 per share.
Convertible notes payable, principal amount										$ 525,000				26,515		525,000		$ 525,000	$ 525,000
Accrued interest																		$ 25,144	$ 25,144
Fees into common stock shares																		213,382	213,382
Outstanding balance														0
Derivative liability														$ 11,629					$ 284,169
Shares issued														39,339					213,382
Shares issued at a fair value														$ 38,144					$ 959,024
Securities Purchase Agreement [Member] | Warrants [Member]
Maturity period							5 years
Securities Purchase Agreement [Member] | September 2018 Notes [Member] | Institutional investors [Member]
Legal fees	$ 15,000
Securities Purchase Agreement [Member] | Institutional Investor [Member]
Convertible notes payable, principal amount																									$ 1,500,000
Cash commission description										Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for this transaction equal to six (6%) percent of the total gross proceeds of the offering. This 6% fee or $90,000 was recorded as debt discount along with the $30,000 in legal fees associated with the May 2019 Note.
Amortization fees										$ 29,509
Securities Purchase Agreement [Member] | Holder [Member] | May 2019 Note [Member]
Convertible notes payable, principal amount																								$ 907,000
Event of default conversion price, description											Upon an Event of Default (regardless of whether such event has been cured), the Buyer may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the then Volume-Weighted Average Price (as defined, the “VWAP”).
Repayment of amount											$ 525,000
Common stock shares issuable upon conversion of debt/convertible securities										250,000
Conversion price										$ 6
Payment amount to related party										$ 12,000,000
Customary events of default, description										2019 Note includes customary Events of Default and provides that the Buyer may require the Company to redeem (regardless of whether the Event of Default has been cured) all or a portion of the Note at a redemption premium equal to the greater of: (i) the product of the redemption premium of one hundred twenty-five (125%) percent, multiplied by the conversion amount, and (ii) the product of the conversion rate ($6.00 per share) multiplied by the product of 125% multiplied by the then current market price. The Buyer may also require redemption of the May 2019 Note upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent. The Company has the right to redeem the May 2019 Note at any time, in whole or in part, in cash at a price equal to 120% of the then outstanding conversion amount.
Terms of Blocker Provision										common stock would exceed 9.99% of the Company’s issued and outstanding common stock.
Accrued expense																								$ 15,420
Convertible Promissory Note [Member] | Securities Purchase Agreement [Member]
Gain on change in fair value of derivative liability										$ 22,776
Amortization of debt discount								62,619		62,619
Derivative liability								$ 41,292		39,843						39,843					$ 62,619
Debt original issue discount		$ 25,000		$ 40,000						$ 25,000						25,000
Financing cost				$ 3,000
Interest rate				8%				10%		10%
Default interest rate				18%																	8%
Purchase price principal amount																					$ 100,000
Note issued				$ 540,000
Cash proceeds from conversion								$ 500,000		$ 500,000
Conversion discount to price								30%		30%
Beneficial conversion feature's intrinsic value		$ 294,000
Note issued upon exchange for cash				$ 500,000
Event of default descriptions				Note since inception shall be the Interest Rate plus eighteen percent (18.0%), the Default Interest. Unless previously converted, the principal and accrued interest on the Note is due and payable in cash (USD) upon the earlier of (i) December 31, 2021, (ii) a Change of Control (as defined) or (iii), an Event of Default (as defined) (collectively, the “Maturity Date”).
Principal balance																	$ 100,000
Accrued interest																	$ 5,736
Convertible Notes [Member] | September 2018 [Member]
Interest Rate										5%		5%
Senior Convertible Note 1 [Member] | Securities Purchase Agreement [Member] | Institutional investors [Member]
Interest expense								$ 41,416											6,568
Convertible notes payable, principal amount								525,000											15,000
Derivative liability								0		$ 5,822	460,728					5,822			$ 284,169			$ 284,169
Shares issued																			213,382
Shares issued at a fair value																			$ 959,024
Outstanding debt																			550,144
Extinguishment of debt								5,744											$ 124,711
Debt discount								294,000														456,570
Transaction expenses																						43,000
Amortized cost				$ 4,597				568,826		494,973						494,973						$ 499,570
Other income								5,807		$ 65,787	$ 4,158					$ 170,737
Additional paid-in capital								294,000
Accumulated deficit								$ (53,248)

DEBT (Details)

DEBT (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 05, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Beginning balance loans						$ 22,814,594	$ 12,029,724
Proceeds				$ 335,008		565,900	16,556,710
Payments						(265,421)	(5,230,725)
Conversion of debt						(4,616,500)	(807,795)
Reclass of long-term portion of debt				(1,132,202)		(86,670)	0
Debt extinguishment						(169,770)	(204,271)
Foreign currency translation						(423,245)	470,951
Subtotal						17,818,888	22,814,594
Notes payable - long-term		$ (1,179,626)		(1,179,626)		(12,356,384)	(10,771,882)
Notes payable - short-term		12,120,437		12,120,437		5,462,504	12,042,712
Foreign currency translation				159,352		423,245
Notes payable - long-term		1,179,626		1,179,626		12,356,384	10,771,882
Debt extinguishment	$ 445,636
Foreign currency translation		(1,028,875)	$ 284	(1,434,104)	$ (473,294)	(1,006,517)	871,235
Bridge Loan
Beginning balance loans							191,287
Proceeds							0
Payments							(191,287)
Subtotal							0
Notes payable - long-term							0
Notes payable - short-term							0
Notes payable - long-term							0
Debt extinguishment							0
Foreign currency transaction							0
Loan Facility [Member]
Beginning balance loans				1,299,784		3,302,100	3,078,442
Proceeds				0		0	0
Payments				(157,663)		(141,475)	0
Conversion of debt				(1,190,000)		(1,606,500)
Reclass of long-term portion of debt				0		(86,670)
Debt extinguishment				(77,551)		0	12,066
Foreign currency translation				45,676		(167,671)	269,047
Subtotal		75,348		75,348		1,299,784	3,302,100
Notes payable - long-term		0		0			(2,843,475)
Notes payable - short-term		75,348		75,348		1,299,784	458,625
Notes payable - long-term		0		0			2,843,475
Third Party [Member]
Beginning balance loans				10,077,977		12,631,284	2,514,595
Proceeds				335,008		565,900	16,121,500
Payments				(2,085,132)		(265,421)	(5,006,115)
Conversion of debt						(4,616,500)	(807,795)
Reclass of long-term portion of debt				(1,003,200)
Debt extinguishment						0	192,205
Foreign currency translation				(80,863)		(46,329)	1,304
Subtotal		13,300,063		13,300,063		10,077,977	12,631,284
Notes payable - long-term		(992,289)		(992,289)		(9,854,906)	(5,543,557)
Notes payable - short-term		6,251,501		6,251,501		223,071	7,087,727
Notes payable - long-term		992,289		992,289		9,854,906	5,543,557
COVID Loans
Beginning balance loans				17,818,888		435,210	0
Proceeds				0		0	435,210
Payments						(3,233)	0
Conversion of debt				(1,190,000)		0	0
Reclass of long-term portion of debt				0		0	0
Debt extinguishment				0		169,770	0
Subtotal		215,008		215,008		234,117	435,210
Notes payable - long-term		(187,337)		(187,337)		(51,478)	0
Notes payable - short-term		27,671		27,671		182,639	435,210
Notes payable - long-term		187,337		187,337		51,478	0
Foreign currency translation				(19,109)		(28,090)	0
Trade Facility [Member]
Beginning balance loans				6,207,010		6,446,000	6,245,400
Proceeds				0		0	0
Payments				(2,449,830)		(57,835)	0
Conversion of debt				0		0	0
Reclass of long-term portion of debt				(129,002)		0
Subtotal		5,765,917		5,765,917		6,207,010	6,446,000
Notes payable - long-term		0		0		(2,450,000)	(2,384,850)
Notes payable - long-term		0		0		2,450,000	2,384,850
Debt extinguishment				77,751		169,770	0
Foreign currency translation				(105,056)		(181,155)	200,600
Notes payable- short -term		$ 5,765,917		$ 5,765,917		$ 3,757,010	$ 4,061,150

DEBT (Details 1)

DEBT (Details 1) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
DEBT
2022	$ 3,140,672
2023	10,264,053	$ 5,549,174
2024	338,399	11,709,951
2025	342,531	268,724
26 and Thereafter	340,992	113,454
Total Debt	14,426,647	17,905,558
Less: fair value adjustments to assumed debt obligations	(1,126,584)	(86,670)
Notes payable - long term portion	(12,120,437)	(12,356,384)
Less: notes payable - current portion	$ 1,179,626	$ (5,462,504)

DEBT (Details Narrative)

DEBT (Details Narrative)									1 Months Ended							3 Months Ended	6 Months Ended			12 Months Ended
	Mar. 03, 2022 USD ($)	Aug. 04, 2021 USD ($) shares	Feb. 05, 2021 USD ($) $ / shares shares	Dec. 30, 2020 USD ($)	Jul. 03, 2020 USD ($)	May 12, 2020 USD ($)	May 08, 2020 USD ($)	May 05, 2020 USD ($)	May 25, 2022 USD ($)	Jun. 30, 2021	Nov. 19, 2020 USD ($)	Jun. 24, 2020	May 18, 2020 USD ($)	Feb. 25, 2020 USD ($)	Oct. 17, 2018 USD ($)	Mar. 31, 2021 shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2022 CAD ($) shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 CAD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 20, 2018	Dec. 08, 2021 $ / shares	Jul. 30, 2021 USD ($)	Jul. 19, 2021 $ / shares	Jul. 13, 2021 $ / shares	Jun. 23, 2021 $ / shares	Jan. 07, 2021 USD ($)	Oct. 29, 2020 USD ($) $ / shares shares	Aug. 04, 2020 USD ($)	Nov. 16, 2015 USD ($)
Deemed dividend									$ 8,189,515
Stock issued for debt obligation | shares																	2,506,127	2,506,127
Accrued and unpaid interest																	$ 17,434			$ 563,613
Debt repayment during period																	50,000			3,233
Debt instrument carrying amount																				2,564,363
Repayments of debt																	104,690			56,508
Debt instruments final payament				$ 1,800,000													50,000
Senior promissory notes to unaffiliated third party																						$ 510,000
Debt outstanding amount																	$ 335,008			$ 64,347		3,010,000				$ 578,850
Percentage of forgiveness																	50%	50%		50%	50%
Forgiveness recorde as other income																	$ 177,450			$ 177,450
Loan received from related party						$ 366,900											157,035			169,770			$ 2,500,000
Repayment of installment																	500,000
Capitalized fees	$ 200,000
Decription of loan payment for interest			Company of 781,819 shares of common stock (the “Exchange Shares”), at the rate of $3.85 per share, in exchange for an aggregate of $3,010,000 principal amount of existing loans made by the Lender to the Company. The market price at the time this Agreement was negotiated was $3.28 per share			The loan will be repaid in 40 equal monthly installments beginning on January 1, 2022 and bears an interest rate of 0.94% per annum						the Company received a loan £50,000 ($68,310) from the United Kingdom government. The loan has a six-year maturity and bears interest at a rate of 2.5% per annum beginning 12-months after the initial disbursement
Common stock exchange shares | shares			781,819
Gain on debt extinguisment			$ 445,636
Debt outstanding amount																	57,974			64,347						578,850
Convertible notes payable, principal amount																	1,936,765
Accrued expenses																				3,100
Notes payable long term																	315,302			477,637
Accrued interest expense																						527,604
Convertible notes payable, principal amount																	$ 619,256			381,062		952,027								$ 100,000
Agreement description										The note matures on August 5, 2026 and bears an annual interest rate that applies to 60% of the principal of the note that is based on a 365-day year, of 5.84% plus 3-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 18 quarterly installments of €27,000 commencing three months from the end of the grace period							Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008). The Note matures on June 16, 2027 and bears an annual interest of 3.89% plus levy of 0.60% plus the 3-month Euribor (when positive). Pursuant to the agreement, there is a twelve-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 17 equal quarterly installments of €18,824 commencing on June 30, 2023.	Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008). The Note matures on June 16, 2027 and bears an annual interest of 3.89% plus levy of 0.60% plus the 3-month Euribor (when positive). Pursuant to the agreement, there is a twelve-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 17 equal quarterly installments of €18,824 commencing on June 30, 2023.
Gain on extinguishment of debt																	$ 1,004,124		$ 445,636	$ 606,667		$ 942,029
Accured interest																	$ 618
Shares issued | shares																				17,544,509		13,485,128
Restricted shares | shares																1,800,000	1,800,000	1,800,000
Grigorios Siokas [Member]
Interest Rate																								4.70%
Debt instrument maturity date																								Mar. 18, 2019
Notes payable																	$ 418,760			$ 452,720		$ 489,200
Unaffiliated Third Party [Member] | Senior Promissory Notes [Member]
Debt outstanding amount							$ 2,000,000	$ 2,000,000					$ 2,000,000																			$ 3,000,000
Debt instrument maturity date							Jun. 08, 2020	Dec. 31, 2020					Dec. 31, 2020
Interest rate							18%	18%					18%
Loans payable	$ 4,000,000						$ 3,000,000	$ 1,000,000
Description of loan repayment							The May 8 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 8 Note matured on June 8, 2020.	The May 5 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 5 Note matured on December 31, 2020.					The May 18 Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The May 18 Note matured on December 31, 2020. On February 23, 2022, the Company entered into an allonge with the lender extending the maturity date to June 30, 2023				the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2021, the Company would be required to issue 431,270 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected.	the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2021, the Company would be required to issue 431,270 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected.		the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2021, the Company would be required to issue 431,270 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected.	the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2021, the Company would be required to issue 431,270 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected.
July 3, 2020 [Member] | Senior Promissory Notes [Member]
Debt outstanding amount					$ 5,000,000
Accrued expenses																				$ 210,574		148,685
Notes payable long term																				$ 5,000,000		5,000,000
Interest Rate																	18%	18%		18%	18%
Debt instrument maturity date																	Jun. 30, 2022	Jun. 30, 2022		Jun. 30, 2022	Jun. 30, 2022
Repayment of may five note					2,000,000
Repayment of may eight note					2,000,000
Repayment of february note					$ 1,000,000
August 4, 2020 [Member] | Senior Promissory Notes [Member]
Debt instrument maturity date																	Dec. 31, 2020	Dec. 31, 2020		Dec. 31, 2020	Dec. 31, 2020
Interest rate																				18%	18%
Modification of May 18, 2020, July 3, 2020, and August 4, 2020 Senior Promissory Notes [Member]
Debt outstanding amount																	$ 5,996,800
Modification agreement amount																	9,000,000
Restructuring fees																	506,087
Fair value of debt																	7,706,369
Gain on extinguishment of debt																	787,544
Debt principal payment																	2,000,000
Non cash interest expenses																	290,431
Accured interest																	757,478
Loan Facility [Member]
Debt outstanding amount																	75,271			$ 1,299,784		3,302,100	$ 2,000,000
Notes payable long term																						2,843,475
Accrued interest expense																	$ 17,244			$ 4,414		33,021
Gain on extinguishment of debt																						749,824
Gain (loss) on extinguishment of debt, principal and accrued interest																						12,066
Description of loan repayement																				The Company will make quarterly payments of €125,000 beginning May 6, 2021, with a final payment of €2,200,000 on May 6, 2022. The Company evaluated the settlement agreement for debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment as the 10% cash flow test was met. As a result, the $3,772,446 of principal and accrued interest was written off and the new debt was recorded at fair value as of June 30, 2020 in the amount of $3,033,990.	The Company will make quarterly payments of €125,000 beginning May 6, 2021, with a final payment of €2,200,000 on May 6, 2022. The Company evaluated the settlement agreement for debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment as the 10% cash flow test was met. As a result, the $3,772,446 of principal and accrued interest was written off and the new debt was recorded at fair value as of June 30, 2020 in the amount of $3,033,990.
Restricted shares | shares																	1,000,000	1,000,000		1,000,000	1,000,000
Senior Promissory Note [Member] | February Note [Member] | Grigorios Siokas [Member]
Debt outstanding amount														$ 1,000,000
Interest Rate														18%
Debt instrument maturity date														Apr. 30, 2020
Debt Exchange Agreement [Member]
Repayments of debt																	$ 58,161			$ 62,878
Debt outstanding amount											$ 611,500						407,128			503,022		611,500				565,900
Accrued expenses											$ 5,642						8,850			60,166											$ 8,514
Notes payable long term																	290,806			377,270		543,557				477,637
Agreement description											The note matures on November 18, 2025 and bears an annual interest rate, based on a 360-day year, of 3.3% plus .6% plus 6-month Euribor when Euribor is positive. Pursuant to the terms of the agreement, there is a six-month grievance from the first deposit date, which was November 19, 2020, for principal repayment. The principal is to be repaid in 18 quarterly installments of €27,000 with the first payment due 9 months from the first deposit
Gain on settlement of debt upon shares issuance		$ 292,383																													192,205
Common stock shares issuable upon listing on nasdaq | shares		238,000
Settlement of debt, shares issuable upon listing on nasdaq		$ 1,190,000
Settlement of debt		1,606,500
Gain from extinguishment of debt		$ 6,642															$ 216,580
Discount rate		11.66%
Principal amount of existing loan																															$ 1,000,000
Fair value of price per share | $ / shares																															$ 3.11
Upon issuance of common stock | shares																	238,000	238,000
Share issued price per share | $ / shares																															$ 3.85
Shares issued | shares		321,300																													259,741
Repayment of debt, accrued interest																				5,642
Loan Agreement [Member] | Panagiotis Drakopoulos [Member]
Repayments of debt																						5,862
Debt outstanding amount																	$ 8,375			9,054		9,784
Accrued expenses																	6,865			7,151		5,852				$ 3,100
Short term debt borrowing capacity																	$ 3,829,235																$ 42,832
Synthesis facility agreement [Member] | TFF [Member]
Debt outstanding amount															$ 5,629,555
Accrued expenses															$ 524,094
Synthesis facility agreement [Member] | TFF [Member] | Principal balance 2 [Member]
Accrued expenses																				402		16,185
Notes payable long term																						2,384,850
Accrued interest expense																				104,220
Convertible notes payable, principal amount																				56,805		2,446,000
Debt instrument maturity date															Aug. 31, 2021
Notes payable																				$ 2,450,000
Stated interest rate															6%
Debt instrument, extended maturity, month and year	January 10, 2023																January 10, 2023	January 10, 2023		January 2023	January 2023
Debt split, balance															$ 4,000,000					$ 4,000,000		$ 4,000,000
Interest rate description															6% per annum plus one-month Libor on the USD balance
Frequency of periodic payments															quarterly
Synthesis facility agreement [Member] | TFF [Member] | Principal Balance One [Member]
Accrued interest expense																				$ 10,466
Debt instrument, transferred amount				$ 2,000,000
Debt instrument, accrue interest rate				5.50%
Debt instruments periodic payment				$ 50,000
Debt intrument split, principal balance															$ 2,000,000
July 30, 2021 Debt Agreement [Member]
Debt outstanding amount																	$ 496,473
Notes payable long term																	386,181
Accured interest																	$ 2,721
Chief Executive Officer [Member] | Debt Exchange Agreement [Member]
Share issued price per share | $ / shares			$ 3.28																						$ 3.44		$ 4.30	$ 4.03	$ 5
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member]
Cash received upon gross sales																		$ 2,750,000
Upfront cash received																		$ 2,000,000			$ 2,000,000
Equity interest acquired description																	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services		a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services	a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales One [Member]
Cash received upon gross sales																		$ 2,750,000			$ 2,750,000
Gross sales																		2,750,000			6,500,000
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales [Member]
Cash received upon gross sales																		2,750,000			2,750,000
Gross sales																		$ 13,000,000
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales [Member]
Cash received upon gross sales																					2,750,000
Gross sales																					13,000,000
Upfront cash received																					$ 2,000,000

LEASES (Details)

LEASES (Details) - Operating Lease [Member] - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Remainder of 2022	$ 104,097	$ 211,538
2023	208,195	182,316
2024	208,195	111,026
2025	136,952	111,026
2026 and Thereafter	380,823	418,723
Total undiscounted operating lease payments	1,038,262	1,034,629
Less: Imputed interest	(180,239)	(200,164)
Present value of operating lease liabilities	$ 858,023	$ 834,465

LEASES (Details 1)

LEASES (Details 1) - Finance Lease [Member] - USD ($)	Jun. 30, 2022	Dec. 31, 2021
2022	$ 87,349	$ 85,231
2023	71,591	72,849
2024	43,547	55,765
2025		27,744
2026 and Thereafter	24,868	4,211
Remainder of 2022	48,385
Total undiscounted finance lease payments	275,740	245,800
Less: Imputed interest	(28,403)	(24,321)
Present value of finance lease liabilities	$ 247,337	$ 221,479

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
LEASES
Operating lease, term of agreements	The Company has various lease agreements with terms up to 10 years, comprising leases of office space		The Company has various lease agreements with terms up to 10 years, comprising leases of office space
Operating lease expense	$ 108,198		$ 260,664	$ 188,400
Operating lease weighted-average remaining lease term	5 years 9 months 29 days		6 years 7 months 6 days
Operating lease, weighted average discount rate	6.74%		6.74%
Finance lease, weighted average remaining lease term	1 year 11 months 1 day		3 years 2 months 12 days
Finance lease, interest expense	$ 7,333	$ 5,250	$ 11,576	13,759
Finance lease, weighted average discount rate	6.74%		6.74%
Finance lease, amortization expense	$ 39,606		$ 97,270	123,533
Finance lease total cash used	$ 43,804
Operating lease cash flows used in finance lease			$ 92,105	$ 85,804

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 31, 2021	Jun. 30, 2022	Dec. 31, 2021
Description for advisory agreement	The term of the agreement is a minimum of 45 days and will continue until 5 business days following the date in which a party receives written notice from the other party of termination. As consideration for services rendered, the Company shall pay: a) a cash fee equal to 10% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering; b) 1% of the gross proceeds of any securities sold in the offering payable at closing of the offering from the gross proceeds of the offering for unaccountable expenses; c) warrants to purchase shares of the Company’s common stock equal to 10% of the number of shares issued in the offering or to be issued thereafter upon conversion of any convertible securities issued in the offering. These warrants will have a 5-year term and an exercise price equal to the price per share of common stock sold in the offering or conversion or exercise price into common stock of any convertible security sold and will have the same provisions, terms, conditions, rights and preferences as the securities sold in the offering; d) a cash fee equal to 10% of the exercise price of all securities constituting warrants, options or other rights to purchase securities sold in the offering payable only upon exercise.
Description for compensation payable under agreement to consultants	a) a cash fee or as an underwritten offering an underwriter discount equal to 7% of the aggregate gross proceeds raised in each offering. For all investors referred directly to the Company by the agent, a cash fee or as an underwritten offering an underwriter discount equal to 5% of the aggregate gross proceeds invested by such investors. b) the Company shall issue to the agent or its designees at each closing, warrants to purchase shares of the Company’s common stock equal to 5% of the aggregate number of shares of common stock placed in each offering. c) out of the proceeds of each closing, the Company also agreed to pay the agent up to $35,000 for non-accountable expenses (up to $50,000 for a public offering) along with up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (increase to up to $100,000 for public offerings) plus additional miscellaneous costs. The agent would also have the right of first refusal from the date of the agreement until the 12-month anniversary following consummation of any offerings for total proceeds of at least $3 million raised by investors introduced by the agent.
July 1, 2021 [Member] | Advisory Agreement [Member]
Consulting fee payable monthly until listing		$ 4,000	$ 4,000
Description for consulting fees payable under agreement		the Company shall pay $10,000 per month, with $4,000 per month paid on a monthly basis and $6,000 per month accrued until such time as the Company raises an aggregate of $10,000,000. In addition, the consultant will receive a $100,000 bonus upon NASDAQ listing and when the Company has raised an aggregate of $10,000,000. Finally, the Company has agreed that the Consultant shall receive a total of 250,000 shares of the Company’s common stock, 50,000 of such shares that have been previously issued pursuant to previous agreements and 200,000 shares to be issued when the Company commences trading on NASDAQ. As of June 30, 2022, 50,000 additional shares have been issued to the Consultant concerning the Company’s listing on Nasdaq.	the Company shall pay $10,000 per month, with $4,000 per month paid on a monthly basis and $6,000 per month accrued until such time as the Company raises an aggregate of $10,000,000. In addition, the consultant will receive a $100,000 bonus upon NASDAQ listing and when the Company has raised an aggregate of $10,000,000. Finally, the Company has agreed that the Consultant shall receive a total of 250,000 shares of the Company’s common stock, 50,000 of such shares that have been previously issued pursuant to previous agreements and 200,000 shares to be issued when the Company commences trading on NASDAQ
Consulting fee payable monthly after listing			$ 10,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Numerator for Basic and Diluted Earnings Per Share:
Net income (loss)			$ 1,037,909	$ 4,552,959	$ 7,961,649	$ (820,786)
Denominator for Basic Earnings Per Share:
Weighted Average Shares	19,540,097	16,105,409	18,652,736	15,572,773	16,423,335	13,270,097
Potentially Dilutive Common Shares					0	37,698
Adjusted Weighted Average Shares					16,423,335	13,307,795
Basic and Diluted Net (Loss) Income per Share					$ (0.95)	$ 0.06

EARNINGS PER SHARE (Details 1)

EARNINGS PER SHARE (Details 1) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Excluded from computation of diluted net loss per share	3,823,804	0
Convertible Debt [Member]
Excluded from computation of diluted net loss per share	218,977	0
Options [Member]
Excluded from computation of diluted net loss per share	37,000	0
Warrants [Member]
Excluded from computation of diluted net loss per share	3,567,827	0

STOCK OPTIONS AND WARRANTS (Det

STOCK OPTIONS AND WARRANTS (Details) - Stock Options [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Shares Outstanding, Beginning	37,000	62,000	74,000
Granted		0	0
Forfeited		0	(12,000)
Exercised		0	0
Expired	(37,000)	(25,000)	0
Number of Shares Outstanding, Ending		37,000	62,000
Number of Shares Exercisable		37,000
Weighted Average Exercise Price Outstanding, Beginning	$ 1.32	$ 1.19	$ 1.32
Weighted Average Exercise Price Outstanding, Ending	0	1.32	0
Weighted Average Exercise Price Exercisable	$ 0	$ 1.32	$ 0
Weighted Average Remaining Contractual Term Outstanding, Beginning	3 days	7 months 6 days	1 year 5 months 19 days
Aggregate Intrinsic Value Outstanding, Beginning	$ 0	$ 242,200	$ 64,800
Aggregate Intrinsic Value Outstanding, Ending	75,850	75,850	0
Aggregate Intrinsic Value Exercisable	$ 0	$ 75,850	$ 0
Weighted Average Remaining Contractual Term Exercisable		3 days	7 months 6 days

STOCK OPTIONS AND WARRANTS (D_2

STOCK OPTIONS AND WARRANTS (Details 1) - Warrants [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Shares Outstanding, Beginning	$ 3,698,238	$ 1,164,673	$ 1,164,673
Granted	10,652,460	2,533,565	0
Forfeited		0	0
Exercised	(3,488,171)	0
Expired		0	0
Number of Shares Outstanding, Ending	$ 10,862,527	$ 3,698,238	$ 1,164,673
Number of Shares Exercisable	10,862,527	3,698,238
Weighted Average Exercise Price Outstanding, Beginning	$ 2.02	$ 6.41	$ 6.41
Weighted Average Exercise Price Outstanding, Granted	0.63	2.02
Weighted Average Exercise Price Outstanding, Ending	0.66	2.02	$ 6.41
Weighted Average Exercise Price Exercisable	$ 0.66	$ 2.02
Weighted Average Remaining Contractual Term Outstanding, Beginning	2 years 10 days	3 years 4 days	4 years 3 days
Weighted Average Remaining Contractual Term Outstanding, Ending	5 years 1 month 2 days	2 years 10 days	3 years 3 days
Weighted Average Remaining Contractual Term Exercisable	5 years 1 month 2 days	2 years 10 days
Aggregate Intrinsic Value Outstanding, Beginning	$ 4,992,621
Aggregate Intrinsic Value Outstanding, Ending Balance	0	$ 4,992,621	$ 5,360
Aggregate Intrinsic Value Exercisable	$ 0	$ 4,992,621
Weighted Average Remaining Contractual Term Outstanding, Granted		2 years 14 days

STOCK OPTIONS AND WARRANTS (D_3

STOCK OPTIONS AND WARRANTS (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Risk free interest rate		0.41%
Exercise price		$ 2.02
Exercise price after re-pricing		$ 2.02
Fair value of terms rePricing		terms of 1.40 years, 1.97 years, 2.20 years and 2.26 years
Debt issuance price		$ 2.02
Warrant to purchase common stock		2,533,565
Weighted average contractual term		2 years 14 days
fair value of warrants immediately before the re-pricing		$ 1,915,077
fair value of warrants immediately After re-pricing		9,548,110
Dividend amount		$ 7,633,033
Fair value of cmmon stock before Re pricing		$ 3.75
Fair value of exercise prices before rePricing		exercise prices of $5.00, $6.00 and $7.50 before re-pricing
Divined rate		0%
Options [Member]
Number of Shares Exercisable	0	37,000
Number of Shares Outstanding, Beginning	0	37,000
Expired dates description		expiration dates of January 2022
Warrants [Member]
Number of Shares Exercisable	10,862,527	3,698,238
Number of Shares Outstanding, Beginning	10,862,527	3,698,238
Expired dates description	expiration dates from May 2023 through August 2027	expiration dates from May 2023 through March 2024.

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenue	$ 13,208,504	$ 14,846,925	$ 26,280,304	$ 26,466,001	$ 56,239,667	$ 55,406,337
Greece [Member]
Revenue	13,152,257	14,504,869	26,161,295	25,958,364	55,564,240	51,259,784
Libya [Member]
Revenue					0	1,028
Cyprus [Member]
Revenue		64,225	0	78,948	112,640	36,987
Croatia [Member]
Revenue	15,416	11,982	26,752	11,982	18,441	24,840
Denmark [Member]
Revenue		14	0	54,700	53,710	537,098
France [Member]
Revenue					0	18,988
Germany [Member]
Revenue	13,208,504	14,846,925	26,280,304	13,617	13,370	1,314,381
Ireland [Member]
Revenue					0	36,349
Italy [Member]
Revenue		4	0	15,731	15,446	75,183
Jordan [Member]
Revenue					0	29,635
Netherlands [Member]
Revenue					0	188,890
Poland [Member]
Revenue					0	29,358
UK [Member]
Revenue	$ 40,831	$ 265,828	$ 92,257	$ 332,659	$ 461,820	$ 1,853,816

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)					1 Months Ended		6 Months Ended
	May 02, 2022	Mar. 03, 2022	Feb. 28, 2022	Feb. 23, 2022	Jul. 31, 2022	Jul. 19, 2022	Jun. 30, 2022
Conversion of common stock shares	39,339						4,892,222
Debt [Member]
Common stock issued			238,000
Conversion of common stock shares					1,322,564
Debt instrument, settlement, amount			$ 1,190,000
Subsequent Events | Acquisition of Pharmaceutical Company
Total consideration acquisition cash						$ 1,300,000
Issuance price per share						$ 3
Common stock issued						433,334
Senior Promissory Notes
Debt instrument, maturity date				June 30, 2023
SkyPharm SA | Loan
Debt instrument, face amount		$ 4,000,000
Debt instrument, maturity, month and year		January 2023
Private Placement
Warrants, issued			2,000,000
Sale of stock, consideration received on transaction			$ 6,000,000
Private Placement | Series A Convertible Preferred Stock
Sale of stock, number of shares issued in transaction			6,000
Sale of stock, price per share			$ 1,000