Cosmos Health (COSM) 10-Q 19 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 19, 2024
Cover [Abstract]
Entity Registrant Name	COSMOS HEALTH INC.
Entity Central Index Key	0001474167
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		17,834,023
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-54436
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	27-0611758
Entity Address Address Line 1	5 Agiou Georgiou Str
Entity Address Address Line 2	Pilea
Entity Address City Or Town	Thessaloniki
Entity Address Country	GR
Entity Address Postal Zip Code	55438
City Area Code	312
Local Phone Number	536-3102
Security 12b Title	Common Stock, par value $0.001
Trading Symbol	COSM
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 343,509	$ 3,833,195
Accounts receivable, net	18,383,107	19,759,254
Accounts receivable - related party	1,619,716	1,099,098
Marketable securities	21,509	20,075
Inventory	4,323,784	4,789,054
Loans receivable	438,719	411,858
Loans receivable - related party	428,440	442,480
Prepaid expenses and other current assets	2,100,450	1,811,911
Prepaid expenses and other current assets - related party	5,755,894	4,440,855
TOTAL CURRENT ASSETS	33,415,128	36,607,780
Property and equipment, net	10,053,986	10,455,499
Goodwill and intangible assets, net	7,716,242	7,684,183
Loans receivable - long term portion	3,190,098	3,509,200
Loans receivable - related party - long term	3,213,300	3,539,840
Operating lease right-of-use asset	727,039	1,131,552
Financing lease right-of-use asset	28,825	28,790
Advances for building's acquisition	2,000,020	2,000,020
Other assets	482,706	1,057,947
TOTAL ASSETS	60,827,344	66,014,811
CURRENT LIABILITIES:
Accounts payable and accrued expenses	10,899,684	11,911,978
Accounts payable and accrued expenses - related party	848,325	231,564
Accrued interest	164,500	166,348
Lines of credit	7,105,599	6,630,273
Notes payable	1,540,776	1,570,886
Notes payable - related party	10,925	11,283
Loans payable - related party	5,339	13,257
Operating lease liability, current portion	254,255	285,563
Financing lease liability, current portion	24,098	27,222
Other current liabilities	3,967,916	3,474,096
TOTAL CURRENT LIABILITIES	24,821,417	24,322,470
Notes payable - long term portion	2,391,430	3,035,341
Operating lease liability, net of current portion	471,697	844,866
Financing lease liability, net of current portion	7,857	5,261
Other liabilities	1,015,369	1,763,845
TOTAL LIABILITIES	28,707,770	29,971,783
Commitments and Contingencies (see Note 14)	0	0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value; 300,000,000 shares authorized; 15,982,472 and 10,605,412 shares issued and 15,895,975 and 10,589,915 outstanding as of December 31, 2023 and 2022, respectively	17,834	15,983
Additional paid-in capital	130,316,264	129,008,301
Subscription receivable	(20)	(20)
Treasury stock, at cost, 86,497 shares as of June 30, 2024, and December 31, 2023	(917,159)	(917,159)
Accumulated deficit	(96,101,634)	(91,644,233)
Accumulated other comprehensive loss	(1,195,711)	(419,844)
TOTAL STOCKHOLDERS' EQUITY	32,119,574	36,043,028
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	$ 60,827,344	$ 66,014,811

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	17,834,023	15,982,472
Common stock, shares outstanding	17,747,526	15,895,975
Treasury stock	86,497	86,497

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
REVENUE	$ 13,206,717	$ 12,363,429	$ 27,791,190	$ 24,713,206
COST OF GOODS SOLD	12,439,469	11,416,595	25,690,316	22,809,295
GROSS PROFIT	767,248	946,834	2,100,874	1,903,911
OPERATING EXPENSES
General and administrative expenses	1,390,525	2,000,151	2,808,663	4,089,165
Salaries and wages	1,454,862	1,077,672	2,713,041	2,027,123
Sales and marketing expenses	110,813	318,061	284,443	785,324
Depreciation and amortization expense	313,074	127,415	632,861	229,936
TOTAL OPERATING EXPENSES	3,269,274	3,523,299	6,439,008	7,131,548
LOSS FROM OPERATIONS	(2,502,026)	(2,576,465)	(4,338,134)	(5,227,637)
OTHER INCOME (EXPENSE)
Other income (expense), net	(29,305)	(34,477)	162,519	(28,734)
Interest expense	(342,446)	(244,135)	(511,118)	(378,508)
Interest income	102,030	261,269	207,795	444,685
Gain on equity investments, net	335	2,676	2,090	3,969
Gain on extinguishment of debt	0	2,257	0	1,910,770
Change in fair value of derivative liability	0	0	0	3,384
Bargain purchase gain	0	1,633,842	0	1,633,842
Foreign currency transaction, net	180,701	66,674	19,447	262,709
TOTAL OTHER INCOME (EXPENSE), NET	(88,685)	1,688,106	(119,267)	3,852,117
LOSS BEFORE INCOME TAXES	(2,590,711)	(888,359)	(4,457,401)	(1,375,520)
INCOME TAX EXPENSE	0	(93,171)	0	(65,873)
NET LOSS	(2,590,711)	(981,530)	(4,457,401)	(1,441,393)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	(2,590,711)	(981,530)	(4,457,401)	(1,441,393)
Foreign currency translation adjustment, net	(176,591)	83,188	(775,867)	419,651
TOTAL COMPREHENSIVE LOSS	$ (2,767,302)	$ (898,342)	$ (5,233,268)	$ (1,021,742)
BASIC NET LOSS PER SHARE	$ (0.15)	$ (0.09)	$ (0.26)	$ (0.13)
DILUTED NET LOSS PER SHARE	$ (0.15)	$ (0.09)	$ (0.26)	$ (0.13)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic	17,834,023	10,819,645	17,025,203	10,718,010
Diluted	17,834,023	10,819,645	17,025,203	10,718,010

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY AND MEZZANINE EQUITY - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Subscription Receivable	Retained Earnings (Accumulated Deficit)	Accumulated other comprehensive loss	Treasurys Stocks
Balance, shares at Dec. 31, 2022			10,605,412					15,497
Balance, amount at Dec. 31, 2022	$ 39,284,295	$ 372,414	$ 10,606	$ 112,205,952	$ (4,750,108)	$ (66,232,813)	$ (1,132,635)	$ (816,707)
Foreign currency translation adjustment, net	336,463						336,463
Proceeds from sale of common stock	4,750,000				4,750,000
Shares issued in lieu of cash, shares			15,258
Shares issued in lieu of cash, amount	96,888		$ 15	96,873
Net loss	(459,863)					(459,863)
Balance, shares at Mar. 31, 2023			10,620,670					15,497
Balance, amount at Mar. 31, 2023	44,007,783	372,414	$ 10,621	112,302,825	(108)	(66,692,676)	(796,172)	$ (816,707)
Balance, shares at Dec. 31, 2022			10,605,412					15,497
Balance, amount at Dec. 31, 2022	39,284,295	372,414	$ 10,606	112,205,952	(4,750,108)	(66,232,813)	(1,132,635)	$ (816,707)
Net loss	(1,441,393)
Balance, shares at Jun. 30, 2023			10,951,757					15,497
Balance, amount at Jun. 30, 2023	43,669,058	372,414	$ 10,952	112,862,111	(108)	(67,674,206)	(712,984)	$ (816,707)
Balance, shares at Mar. 31, 2023			10,620,670					15,497
Balance, amount at Mar. 31, 2023	44,007,783	372,414	$ 10,621	112,302,825	(108)	(66,692,676)	(796,172)	$ (816,707)
Foreign currency translation adjustment, net	83,188	0	0	0	0	0	83,188	0
Net loss	(981,530)	0	$ 0	0	0	(981,530)	0	0
Shares issued for purchase of customer base, shares			99,710
Shares issued for purchase of customer base, amount	316,081	0	$ 100	315,981	0	0	0	0
Shares issued for purchase of Cana, shares			46,377
Shares issued for purchase of Cana, amount	138,667	0	$ 46	138,621	0	0	0	0
Stock-based compensation, shares			185,000
Stock-based compensation, amount	104,869	0	$ 185	104,684	0	0	0	$ 0
Balance, shares at Jun. 30, 2023			10,951,757					15,497
Balance, amount at Jun. 30, 2023	43,669,058	372,414	$ 10,952	112,862,111	(108)	(67,674,206)	(712,984)	$ (816,707)
Balance, shares at Dec. 31, 2023			15,982,472					86,497
Balance, amount at Dec. 31, 2023	36,043,028	0	$ 15,983	129,008,301	(20)	(91,644,233)	(419,844)	$ (917,159)
Foreign currency translation adjustment, net	(599,276)	0	0	0	0	0	(599,276)	0
Net loss	(1,866,690)	0	$ 0	0	0	(1,866,690)	0	0
Proceeds from sale of common stock, net of financing fees of $19,467, shares			901,488
Proceeds from sale of common stock, net of financing fees of $19,467, amount	629,426	0	$ 901	628,525	0	0	0	0
Shares issued in lieu of cash	108,297	0	$ 0	108,297	0	0	0	0
Shares issued pursuant to warrant exchange agreement, shares			950,063
Shares issued pursuant to warrant exchange agreement, amount	0	0	$ 950	(950)	0	0	0	0
Stock-based compensation	231,897	0	$ 0	231,897	0	0	0	$ 0
Balance, shares at Mar. 31, 2024			17,834,023					86,497
Balance, amount at Mar. 31, 2024	34,546,682	0	$ 17,834	129,976,070	(20)	(93,510,923)	(1,019,120)	$ (917,159)
Balance, shares at Dec. 31, 2023			15,982,472					86,497
Balance, amount at Dec. 31, 2023	36,043,028	0	$ 15,983	129,008,301	(20)	(91,644,233)	(419,844)	$ (917,159)
Net loss	(4,457,401)
Balance, shares at Jun. 30, 2024			17,834,023					86,497
Balance, amount at Jun. 30, 2024	32,119,574		$ 17,834	130,316,264	(20)	(96,101,634)	(1,195,711)	$ (917,159)
Balance, shares at Mar. 31, 2024			17,834,023					86,497
Balance, amount at Mar. 31, 2024	34,546,682	0	$ 17,834	129,976,070	(20)	(93,510,923)	(1,019,120)	$ (917,159)
Foreign currency translation adjustment, net	(176,591)	0	0	0	0	0	(176,591)	0
Net loss	(2,590,711)	0				(2,590,711)
Shares issued in lieu of cash	108,444	0	0	108,444	0	0	0	0
Stock-based compensation	231,750	$ 0	$ 0	231,750	0	0	0	$ 0
Balance, shares at Jun. 30, 2024			17,834,023					86,497
Balance, amount at Jun. 30, 2024	$ 32,119,574		$ 17,834	$ 130,316,264	$ (20)	$ (96,101,634)	$ (1,195,711)	$ (917,159)

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (4,457,401)	$ (1,441,393)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:
Depreciation and amortization expense	617,943	162,839
Amortization of right-of-use assets	14,918	67,097
Bad debt expense	(30,992)	671,678
Shares issued in lieu of cash	0	(96,888)
Lease expense	155,430	123,204
Interest on finance leases	1,307	13,709
Stock-based compensation	680,389	104,869
Deferred income taxes	(5,645)	3,621
Gain on extinguishment of debt	0	(1,910,770)
Bargain purchase gain	0	(1,633,842)
Change in fair value of the derivative liability	0	(3,384)
Gain on net change in fair value of equity investments	(2,090)	(3,969)
Changes in assets and liabilities:
Accounts receivable	788,013	721,400
Accounts receivable - related party	(559,563)	202,669
Inventory	323,436	(949,633)
Prepaid expenses and other assets	(359,794)	(3,603,672)
Prepaid expenses and other current assets - related party	(1,462,468)	(2,303,904)
Loan receivable - related party	0	(168,469)
Accounts payable and accrued expenses	(711,770)	(1,332,464)
Accounts payable and accrued expenses - related party	621,174	(135,026)
Accrued interest	3,418	(229,771)
Lease liabilities	(154,610)	(123,391)
Taxes payable	0	417,256
Other current liabilities	614,232	(230,028)
Other liabilities	(698,916)	(579,582)
NET CASH USED IN OPERATING ACTIVITIES	(4,622,989)	(12,064,068)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from loan receivable	357,241	347,225
Cash paid for the acquisition of Cana	0	(5,331,120)
Sale of intangible assets	1,989	0
Purchase of intangible assets	0	(2,213,851)
Purchase of property and equipment	(116,826)	(1,249,933)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	242,404	(8,447,679)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of convertible note payable	0	(100,000)
Payment of note payable	(549,946)	(1,372,976)
Payment of related party loan	(7,567)
Payment of lines of credit	12,342,152	10,412,107
Proceeds from lines of credit	13,034,203	9,271,450
Proceeds from the issuance of common stock	0	4,750,000
Payments of finance lease liability	(17,504)	(77,753)
Payments of financing fees	629,576	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	746,610	2,058,614
Effect of exchange rate changes on cash	144,289	(63,853)
NET CHANGE IN CASH	(3,489,686)	(18,516,986)
CASH AT BEGINNING OF PERIOD	3,833,195	20,749,683
CASH AT END OF PERIOD	343,509	2,232,697
Cash paid during the period:
Interest	512,966	814,345
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Closing of acquisition of Cloudscreen	$ 637,080	$ 0
Common shares issued for acquisition of customer base		316,081
Common shares issued for acquisition of Cana		138,667

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2024
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The terms “COSM,” “we,” the “Company,” the “Group” and “us” as used in this report refer to Cosmos Health Inc. The accompanying unaudited condensed consolidated balance sheet as of June 30, 2024 and unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2024 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, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024, or any other period. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the financial statements for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“Form 10-K”). The accompanying condensed consolidated balance sheet as of December 31, 2023 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. 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 six months ended June 30, 2024, the Company had revenue of $27,791,190, net loss of $4,457,401 and net cash used in operations of $4,622,989. Additionally, as of June 30, 2024, the Company had positive working capital of $8,593,711, an accumulated deficit of $96,101,634, and stockholders’ equity of $32,119,574. 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’s revenues are not able to sustain its operations, and concerns exist regarding the Company’s ability to meet its obligations as they become due. The Company is subject to a number of risks to those of smaller commercial companies, including dependence on key individuals and products, the difficulties inherent in the development of a commercial market, the need to obtain additional capital, competition from larger companies, and other pharmaceutical and health care companies. Management evaluated the above conditions which raise substantial doubt about the Company’s ability to continue as a going concern to determine if it can meet its obligations for the subsequent twelve months from the date of this filing. Management considered its ability to access future capital, curtail expenses if needed, expand product lines, and acquire new products. Management’s plans include expansion of brand name products to the market, expanding the current product portfolio, and evaluating acquisition targets to expand distribution. Furthermore, the Company intends to vertically integrate the supply chain distribution network. During the period up to the issuance of this report the Company has signed multiple distribution agreements for its SPL products in Europe and Asia and a variety of contract manufacturing agreements though its subsidiary, CANA. Finally, the Company plans to access the capital markets further in order to raise additional funds through equity offerings. More specifically, management will consider postponing the repayment of its outstanding Trade Facility ($1,606,650 balance as of June 30, 2024), intends to make substantial efforts to receive additional debt financing through its subsidiary, Cosmofarm SA, and plans to raise additional equity funds through utilizing its outstanding warrants. Up to the issuance of its consolidated financial statements for the six months ended June 30, 2024, the Company has sold 901,488 shares of common stock for net proceeds of $629,426. Moreover, the Company’s management is considering postponing certain repayments of suppliers and creditors. 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. Considering the above, management is of the view that substantial doubt exists for the Company’s ability to continue as a going concern. 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.

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	Jun. 30, 2024
ORGANIZATION AND NATURE OF BUSINESS
ORGANIZATION AND NATURE OF BUSINESS	NOTE 2 – ORGANIZATION AND NATURE OF BUSINESS Cosmos Health Inc. and its subsidiaries (Nasdaq: COSM), (“us”, “we”, the “Group”, or the “Company”) are 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. The Company 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. The Company has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. The Company 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. On November 14, 2013, we changed our name to Cosmos Holdings Inc., and on November 29, 2022, we changed our name to Cosmos Health 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 used to focus 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 December 19, 2018, the Company acquired Cosmofarm, a pharmaceutical wholesaler specializing in the distribution and export of pharmaceutical products through its extensive pharmacies network. On April 3, 2023, the Company completed the acquisition of ZipDoctor Inc. (“ZipDoctor”), a telehealth company, a direct-to-consumer subscription-based telemedicine platform. On June 30, 2023, the Company acquired Cana Laboratories Holdings (Cyprus) Limited (“Cana”), which wholly owned an operating subsidiary, Pharmaceutical Laboratories Cana S.A. (“Cana SA”), a Greek pharmaceutical company that manufactures, sells, distributes, and markets original branded products researched and developed by leading global pharmaceutical and healthcare companies. Acquisition Accounting Cloudscreen On January 23, 2024, the Company completed the acquisition of Cloudscreen, a cutting-edge Artificial Intelligence (AI) powered platform. The acquisition is pursuant to the purchase agreement announced on October 11, 2023. Cloudscreen is a multimodal platform specialized in drug repurposing, a process that involves uncovering new target proteins or indications for existing drugs for use in treating different diseases. The total purchase price amounted to $637,080 and consisted of 280,000 shares of common stock with a fair value of $319,200 and an amount of $317,880 to be settled in cash during 2024 based on the Promissory Note signed on October 10, 2023. The Company accounted for the acquisition as an asset acquisition in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, (“ASC 805”) and recorded $637,080 as an intangible asset related to the technology platform acquired. ZipDoctor On April 3, 2023, the Company completed the acquisition of ZipDoctor Inc. (“ZipDoctor”), a telehealth company for a total sum of $150,000 in cash and $8,788 in fees. The Company accounted for the acquisition as an asset acquisition in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations Bikas On June 15, 2023, Cosmos Health Inc. entered into an Assignment and Assumption Agreement (the “Agreement”) with Ioannis Bikas O.E., a Greek Company (“Bikas”). Bikas is owner of a pharmaceutical distribution network in Greece and agreed to sell to the Company their distribution network and customer base. The purchase price of the network was €100,000 ($109,330) in cash, and €300,000 ($316,081) in the Company’s common stock. The Company issued 99,710 shares of common stock related to the acquisition of the customer base, based on the fair value of the stock on the acquisition date. The Company accounted for the acquisition as an asset acquisition in accordance with ASC 805 and recorded $425,411 as an intangible asset related to the customer base acquired. Buildings Acquisitions On April 24, 2023, the Company purchased a building for a total sum of $1,054,872 in cash. The Company accounted for the acquisition as an asset acquisition in accordance with ASC 805 and recorded the cost of the building as "Property, plant and equipment" on the consolidated balance sheets. On January 6, 2023, the Company agreed to purchase land and building located in Montreal, Canada from a third-party vendor. The total purchase price amounts to $3,950,000 and the closing date of the agreement based on the amendment signed on July 19, 2023, is December 31, 2023. As of June 30, 2024, the Company has made no additional prepayments concerning this building. The closing date of the agreement has been extended to December 31, 2024. Cana On June 30, 2023, the Company acquired Cana Laboratories Holdings (Cyprus) Limited (“Cana”), which wholly owned an operating subsidiary, Pharmaceutical Laboratories Cana S.A. (“Cana SA”) for €800,000 ($873,600) in cash and 46,377 shares of common stock, with fair value of $138,667 as of the date of acquisition. Moreover, on February 28, Consideration Cash $ 5,331,120 Fair value of common stock issued 138,667 Fair value of total consideration transferred $ 5,469,787 Recognized amounts of identifiable assets acquired Financial assets $ 1,796,911 Inventory 297,340 Property, plant and equipment 7,488,818 Identifiable intangible assets 562,200 Financial liabilities (3,235,233 ) Total identifiable net assets $ 6,910,036 Bargain purchase gain $ 1,440,249 Revenue for the 6- month period ended December 31, 2023 $ 344,708 Loss for the 6- month period ended December 31, 2023 $ (1,232,732 ) During the prior year period, Cana had minimal operations as it was in financial difficulties and seeking for an investor. Basis of Financial Statement Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP. Principles of Consolidation Our consolidated accounts include our accounts and the accounts of our wholly owned subsidiaries, SkyPharm S.A., Decahedron Ltd., Cosmofarm S.A., Cana Laboratories Holdings (Cyprus) Limited and ZipDoctor Inc. The Group’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements reflect the consolidation of all entities in which the Company has control, as determined by the ability to direct the activities that significantly affect the entities’ economic performance. All significant intercompany balances and transactions have been eliminated. Transactions in and Translations of Foreign Currency The functional currency for the Greek subsidiaries of the Company (CANA Laboratories, Cosmofarm S.A. and SkyPharm SA) is EURO (€) and for the UK subsidiary (Decahedron Ltd) is GBP (£). ZipDoctor Inc. is a U.S. based entity. As a result, the financial statements of the subsidiaries (except for ZipDoctor Inc.) have been translated from the local currency into U.S. dollars using (i) year-end exchange rates for balance sheet accounts, and (ii) average exchange rates for the reporting period for all income statements accounts. Foreign currency translations gains and losses are reported as a separate component of the condensed consolidated statements of changes in stockholders’ equity and mezzanine equity. Use of Estimates The preparation of the 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 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 and, as such, 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. 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. Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments, which amends the requirement on the measurement and recognition of expected credit losses for financial assets held. Furthermore, amendments ASU 2019-10 and ASU 2019-11 provided additional clarification for implementing ASU 2016-13. ASU 2016-13 is effective for the Company beginning January 1, 2023, with early adoption permitted. The Company adopted the standard on January 1, 2023, and the standard did not have a material impact on the Company’s consolidated financial statements and related disclosures. The Company is exposed to credit losses primarily through sales to its customers and the loans that it has provided. The Company assesses each customer’s/ borrower’s ability to pay, and a credit loss estimate by conducting a credit review which includes consideration of established credit rating, or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market conditions, and age of the receivables. More specifically, the Company assesses a number of customers with significant long outstanding balances on an individual basis, applying different credit loss percentages to them, and subsequently summarizes the ones not included in the individual analysis, groups them based on their rating (decided based on the factors described above) and applies specific credit loss percentages to each group. The Company has elected to follow the simplified ECL approach. The charges related to credit losses are included in “General and administrative expenses” and are recorded in the period that the outstanding receivables are determined to be doubtful. Account balances are written-off against the allowance when they are deemed uncollectible. 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. 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). 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. As of June 30, 2024 and December 31, 2023, the Company’s allowance for doubtful accounts was $19,086,835 and $19,686,091, respectively. Below is the summary of changes in the allowance for doubtful accounts: June 30, 2024 Balance as of January 1st, 2024 $ 19,686,091 Provisions for credit losses - Write-offs - Foreign exchange adjustments (568,264 ) Other adjustments (30,992 ) Balance as of June 30, 2024 $ 19,086,835 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. As of June 30, 2024 and December 31, 2023, the Company had a VAT net receivable balance of $276,152 and $187,512 respectively, recorded in the consolidated balance sheet as prepaid expenses and other current assets and accounts payable and accrued expenses, respectively. 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, and 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. No significant judgments have been applied in estimating the selling price of our inventory. 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 25 years Buildings 25-30 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $103,558 and $79,163 for the three months ended June 30, 2024 and 2023, respectively and $216,432 and $112,569 for the six months ended June 30, 2024 and 2023, respectively. Property and Equipment additions Property and Equipment additions are recognized as assets when it is probable that future economic benefits associated with the asset will flow to the entity and the cost of the asset can be measured reliably. Additions are initially measured at cost, which includes all costs directly attributable to bringing the asset to its working condition and location for its intended use. This may include purchase price, freight, installation, and any directly attributable professional fees. They are capitalized if their cost exceeds a certain threshold. The threshold is determined based on materiality considerations. Costs below the threshold are typically expensed as incurred. After initial recognition, additions are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated systematically over the estimated useful life of the asset. They are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount exceeds the recoverable amount, an impairment loss is recognized, and the carrying amount of the asset is adjusted accordingly. Borrowing costs directly attributable to the acquisition, construction, or production of qualifying assets, including Property and Equipment additions, are capitalized as part of the cost of those 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. First, under step 0, we determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount. Following, if step 0 fails, 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 and a useful life of 10 years for the pharmaceutical and nutraceutical products licenses included in Note 4 as “Licenses”. A useful life of 10 years is also used for the platforms included in Note 4 as “Software” and the customer bases. 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, 2024 and December 31, 2023, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $193,518 and $16,035 for the three months ended June 30, 2024 and 2023, respectively and $383,373 and $50,270 for the six months ended June 30, 2024 and 2023, 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. 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 sale 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, 2024, investments consisted of 16,666 shares which traded at a closing price of $0.75 per share or value of $12,416 of National Bank of Greece. Additionally, the Company has $7,665 in equity securities of Pancreta Bank, which are revalued annually. 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. In addition, 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. Our financials also included the following financial instruments as of June 30, 2024 and December 31, 2023: cash, accounts receivable, inventory, prepaid expenses, loans receivable, accounts payable, notes payable and lines of credit. Except for the loans receivable which carry fixed interest rates, the carrying value of the remaining instruments, approximates fair value due to their short-term nature. 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 current liabilities 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 Topic 606, Revenue from Contracts with Customers 1) Identification of the Contract: The Company identifies a contract with a customer when it enters into an agreement that creates enforceable rights and obligations. 2) Identification of Performance Obligations: The Company identifies distinct performance obligations within each contract, which represent promises to transfer goods or services to the customer. 3) Determination of Transaction Price: The Company determines the transaction price, which represents the amount of consideration to which it expects to be entitled in exchange for transferring promised goods or services to the customer, excluding any amounts collected on behalf of third parties. 4) Allocation of Transaction Price: The Company allocates the transaction price to each distinct performance obligation based on its standalone selling price. If the standalone selling price is not observable, the Company estimates it using an appropriate method. 5) Recognition of Revenue: Revenue is recognized when (or as) the Company satisfies a performance obligation by transferring a promised good or service to the customer. This typically occurs at a point in time or over time, depending on the nature of the performance obligation. Wholesale revenue and sales of own branded nutraceutical and pharmaceutical products The Company has contracts or signed partnership forms (usual in the wholesale sector of the pharma industry) with its customers, stipulating the enforceable rights and obligations. The Company is responsible for transferring the goods to the customer’s location, which represents its sole performance obligation. Thus, the transaction price, which is predetermined in most of the products sold, is exclusively allocated to this performance obligation. Revenue is recognized at a single point in time, which is upon issuance of the corresponding sales invoice. The Company has assessed the impact of the items invoiced but not delivered to the customer’s location as of December 31, 2023 and June 30, 2024, and deemed that it had no material effect. Pharma manufacturing The Company has active contracts with its customers, stipulating the enforceable rights and obligations. The Company is responsible for the manufacturing and the packaging of specific products assigned by its customers, which represents its performance obligations to which the Company allocates the transaction price determined. The customers are responsible for providing the raw materials to the Company. Revenue is recognized over a period of time, which is during the production and packaging period of the respective products. As of June 30, 2024, there were no products or batches of products for which the production or packaging phase was in progress. Medihelm SA Commencing from January 1, 2023, and pursuant to the agreement with Medihelm, the exclusive distributor of the Company’s own proprietary line of nutraceuticals, the Company considers the transaction price to be variable and records an estimate of the transaction price, subject to the constraint for variable consideration. The Company is basing the change in transaction price with the exclusive distributor through assessment of significant overdue receivables from the exclusive distributor, which the Company reassesses each reporting period. Through this assessment, the Company applied the “expected value” model under ASC 606-10-32-5 and had applied specific constraints to revenue due from the customer at the end of each reporting period. Following the application of the “expected value” model, the Company had deferred an amount of $397,000 and recorded it against the sales to Medihelm for the twelve months ended December 31, 2024. However, the Company assessed once more the trading relationship with Medihelm SA at year end and since no significant receipts had taken place up to the issuance of the report, the Company recorded an allowance for the total receivable amount not received up to the issuance date. More specifically a cumulative reserve of $12,655,615 was applied, leaving a receivable of $532,704 due from Medihelm SA, as of December 31, 2023. The Company does not consider that new sales to Medihelm SA or sales to any other customer include a variable component as of June 30, 2024. 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.” 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 carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates ex

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	6 Months Ended
	Jun. 30, 2024
EQUITY METHOD INVESTMENTS
EQUITY METHOD INVESTMENTS	NOTE 3 –EQUITY METHOD INVESTMENTS 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 intended to await further clarification from the U.S. government on cannabis regulation prior to determining whether to enter the domestic market. The above 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 failed to meet certain performance milestones. The Company was 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. The Distribution and Equity Acquisition Agreement was 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. On March 20, 2023, the Company sent a termination notice, to Marathon, which became effective on April 19, 2023 as a result of Marathon’s failure to satisfy these conditions. The Company had accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC Topic 480, Distinguishing Liabilities from Equity 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 ($163,080) which was later increased to EUR 500,000 ($543,600). 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 ($163,080) 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, 2024 and December 31, 2023, was $160,665 and $165,930, respectively, and is included in “Other assets” on the Company’s consolidated balance sheets.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2024
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	NOTE 4 – PROPERTY AND EQUIPMENT, NET Property and equipment, net consists of the following at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Land $ 3,438,343 $ 3,551,020 Buildings and improvements 4,674,665 4,787,963 Leasehold improvements 3,524 3,639 Vehicles 274,487 285,388 Furniture, fixtures and equipment 2,697,076 2,707,442 Computers and software 195,302 168,173 11,283,397 11,503,625 Less: Accumulated depreciation and amortization (1,229,411 ) (1,048,126 ) Total $ 10,053,986 $ 10,455,499

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 5 – INTANGIBLE ASSETS Goodwill and intangible, net assets consist of the following at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 License $ 6,714,555 $ 6,876,169 Trade name / mark 390,188 392,197 Customer base 602,204 602,204 Software 795,868 155,788 8,502,814 8,029,357 Less: Accumulated amortization License (609,659 ) (235,925 ) Trade name / mark (36,997 ) (36,997 ) Customer base (141,994 ) (110,160 ) Software (47,619 ) (11,789 ) Subtotal 7,666,545 7,634,486 Goodwill 49,697 49,697 Total $ 7,716,242 $ 7,684,183 At June 30, 2024, the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years is as follows: Year Amount 2024 $ 405,212 2025 807,519 2026 808,689 2027 808,689 2028 756,665 Thereafter 3,724,570 Total $ 7,311,545

LOAN RECEIVABLE

LOAN RECEIVABLE	6 Months Ended
	Jun. 30, 2024
LOAN RECEIVABLE
LOAN RECEIVABLE	NOTE 6 – LOAN RECEIVABLE On October 30, 2021, the Company entered into an agreement for a ten-year loan with Medihelm SA to memorialize €4,284,521 ($4,849,221) in prepayments the Company had made. The prepayments to Medihelm SA had been made in accordance with the parallel export business, through which Medihelm supplied and would supply SkyPharm SA with branded pharmaceuticals. This business is no longer in place for the Company and thus the Company entered into this agreement with Medihelm SA in order for the outstanding amount to be settled. 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, 2023, the Company received €352,438 ($389,867) in principal payments such that as of December 31, 2023, the Company had a short-term receivable balance of $411,858 and a long-term receivable balance of $3,509,200 under this loan. The Company also received €156,684 ($167,824) in principal payments and €81,077 ($86,341 in interest payments during the six-month period ended June 30, 2024. The Note is considered fully recoverable.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
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 three months ended June 30, 2024 and 2023. 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 25% on income reported in the statutory financial statements after appropriate tax adjustments. June 30, 2024 and 2023, 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 and the United Kingdom. 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, 2024 and December 31, 2023, the Company has maintained a valuation allowance against all net deferred tax assets in the United States, Greece, and the UK. For the three and six months ended June 30, 2024, and 2023, the Company has recorded tax benefit in any jurisdiction where it is subject to income tax, in the amount of $0 and $65,873 respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Loss.

CAPITAL STRUCTURE

CAPITAL STRUCTURE	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023, no preferred shares were issued and outstanding. 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. 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. 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. 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) $75.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five 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 $15.54 per share. Each holder is entitled to receive dividends in shares of Series A Preferred Stock or cash determined based on the stated value of each Series A Preferred Stock at the dividend rate of 8.0% per year. For the year ended December 31, 2022, the Company recorded $372,414 as a deemed dividend in accordance with the Series A Preferred Stock cumulative dividend. As of December 31, 2022, the cumulative dividend has been recorded as mezzanine equity. Following, Mr. Siokas waiver of the right to receive the dividends on February 26, 2024, and the unanimous written consent of the Company’s Board of Directors on February 29, 2024, through which was resolved that the Company shall remove all accrued and unpaid dividends payable to the previous holders of Series A Preferred stock, the Company eliminated the total deemed dividend of $372,414 through retained earnings. Thus, the balance of mezzanine equity as of June 30, 2024, and December 31, 2023 is $0. 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 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 Shares shall automatically convert into Common Stock, subject to certain beneficial ownership limitations. Treasury stock As of June 30, 2024 and December 31, 2023, the Company held 86,497 and 86,497, respectively, shares of our common stock at a cost of $917,159 and $917,159, respectively. Shares of our common stock that are repurchased are classified as treasury stock pending future use and reduce the number of shares outstanding used in calculating earnings per share. Cosmos may repurchase shares from time to time through open market purchases in accordance with applicable securities laws and other restrictions. The Company repurchased no shares of our common stock during the six months ended June 30, 2024. The Company repurchased 71,000 shares of our common stock for $100,452 during the year ended December 31, 2023. The Company repurchased no shares of our common stock during the six months ended June 30, 2024. On January 24, 2023 the Company announced that its Board of Directors has approved a share repurchase program with authorization to purchase up to $3 million of its common stock. Cosmos may repurchase shares from time to time through open market purchases in accordance with applicable securities laws and other restrictions. Common Stock The Company is authorized to issue 300 million shares of common stock. As of June 30, 2024 and December 31, 2023, the Company had 17,834,023 and 15,982,472 shares of our common stock issued, respectively, and 17,747,526 and 15,895,975 shares outstanding, respectively. Issuance of Common Stock During the three-month period ended June 30, 2023 the Company issued 15,258 to a consultant for services rendered. The shares were valued and expensed on the date of issuance and are separately presented in the condensed consolidated statement of changes in stockholders’ equity and mezzanine as “Shares issued in lieu of cash”. During the six months ended June 30, 2024 raised additional equity funds through a Baby Shelf supplement to its Registration Statement on Form S-3 (No. 333-267550) filed with the SEC on February 29 and March 7, 2024. More specifically, the Company sold 901,488 shares of common stock for gross proceeds of $648,893. Placement agent’s fees and other commissions amounted to $19,467 and thus the total net proceeds for the period were $629,426. On December 29, 2023, the Company had entered into a warrant exchange agreement (the “Warrant Exchange”) with an investor to reduce the exercise price of 2,437,063 warrants from $2.75 per share to $1.45 per shares as an inducement to exercise. The Company issued 1,487,000 shares of common stock, held 950,063 shares in escrow until the investor’s beneficial ownership limitation allows for the transfer of the escrow shares, and received gross cash proceeds of 3,533,741. The 950,063 shares were issued within the three-month period ended March 31, 2024 but were already valued in the year ended December 31, 2023. Exercise of Warrants We had no warrant exercises during the six months ended June 30, 2024. Warrant Classification The Company determines the classification of its warrants upon issuance by identifying the instrument issued to determine if it is debt or equity classified. The Company determined its warrants meet the scope exception in ASC 815-10 and are equity classified because, (a) the warrant is indexed to the Company’s own stock, (b) require settlement in equity shares, and (c) the Company has enough authorized and unissued shares.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS Doc Pharma S.A. 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. Prepaid expenses and other current assets – related party As of June 30, 2024 and December 31, 2023, the Company had a prepaid balance of $5,482,679 and $4,347,184, respectively, to Doc Pharma related to purchases of inventory. Accounts payable and accrued expenses - related party As of June 30, 2024 and December 31, 2023, the Company had an accounts payable balance to Doc Pharma of $112,019 and $34,217, respectively. Accounts receivable - related party The Company had a receivable balance of $2,774,038 and $2,386,721 from Doc Pharma S.A as of June 30, 2024, and December 31, 2023, respectively. Sales and Purchases During the six months ended June 30, 2024 and 2023, the Company purchased a total of $520,699 and $193,831 of products from Doc Pharma S.A., respectively. During the three months ended June 30, 2024, and 2023, the Company had $136,378 and $2,120 revenue from Doc Pharma, respectively. During the six months ended June 30, 2024 and 2023, the Company purchased a total of $425,638 and $607,984 of products from Doc Pharma S.A., respectively. During the three months ended June 30, 2024 and 2023, the Company had $236,590 and $2,767 revenue from Doc Pharma, respectively. Other Agreements 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 ® For the three months ended June 30, 2024 and 2023, the Company has purchased €61,597 ($66,295) and €174,519 ($190,021) respectively, in inventory related to this agreement. For the six months ended June 30, 2024 and 2023, the Company has purchased €126,758 ($137,027) and €548,980 ($593,427) respectively, in inventory related to this agreement. 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 ® Purchase of branded pharmaceuticals On June 28, 2023, the Company approved the purchase of five proprietary and innovative branded pharmaceuticals with significant market presence and material profit contribution from Zakalia Ltd., the parent company of Doc Pharma, for €1,800,000 ($1,965,600). The transaction was settled on a non-cash basis through the reduction, of an equivalent amount, of prepaid expense balances the Company held with Doc Pharma. The purchased branded pharmaceuticals are presented in "Goodwill and intangible assets, net" on the accompanying consolidated balance sheets. On December 29, 2023, the Company approved the purchase of additional 19 licenses from DocPharma, of a total value of €3,200,000 ($3,539,840). This transaction was also settled on a non-cash basis through the reduction, of an equivalent amount, of prepaid expense balances the Company held with Doc Pharma. Loans receivable - related party The balance of prepaid expenses due Doc Pharma as of December 31, 2022, had increased to €7,103,706 ($7,599,545), which was mainly attributable to the prepayments SkyPharm S.A. made in accordance with the CMO agreement and the extensive orders and sales of the SPL products the Company expects to achieve within 2023, mainly through its Amazon channels in the UK, Singapore, Canada and other countries. However, as the benefit from a significant portion of the prepaid balance would not have been realized within a 12-month period, the Company opted to secure a portion of the outstanding prepaid balance through a loan agreement. SkyPharm S.A. (the “Lender”) entered into a loan agreement with Doc Pharma (the “Borrower”) for €4,000,000 ($4,279,200), all of which was financed through the outstanding prepaid balance. The duration of the loan is for a 10-year period up to December 1, 2032 (the “Maturity Date”). The loan bears a fixed interest rate of 5.5% payable on a monthly basis and will be repayable in 120 equal instalments of €33,333.33 ($35,660). The loan may be prepaid anytime during its duration in full or partially based on the Company’s product requirements and other factors, without Doc Pharma incurring any prepayment penalty. As of June 30, 2024 and December 31, 2023, the loan had a current portion of €400,000 ($431,640) and €400,000 ($442,480), and a non-current portion of €3,100,000 ($3,345,210), and €3,200,000 ($3,539,840), respectively, which is classified as "Loans receivable – related party" on the accompanying consolidated balance sheets. During the six months ended June 30, 2024, the Company received €200,000 ($224,220) in principal repayments, and €81,077 ($86,841) of interest repayments. Additionally, during the six months ended June 30, 2024, the Company recorded €96,708 ($103,584) as interest income relating to this loan. Cana Laboratories Holding Limited Cana was considered a related party as the Company had signed a binding letter of intent and an SPA for the acquisition of Cana. The acquisition was completed on June 30, 2023 according to the SPA signed on May 31, 2023. Thus, all balances between the Company and Cana were eliminated upon consolidation as of December 31, 2023. The Secured Promissory Note discussed below was included in consideration transferred upon acquisition. Loans receivable - Related Party - Long Term On February 28, Panagiotis Kozaris Panagiotis Kozaris is considered a related party due to the fact that he is a former General operational manager and current employee of Cosmofarm S.A. Prepaid Expenses and Other Current Assets - Related Party From time to time the Company purchases back shares that Panagiotis Kozaris owns and records them as treasury shares. The Company pays Panagiotis Kozaris in advance for the shares owned and obtains the shares upon execution of a cumulative stock-purchase agreement (“SPA”). During the three months ended June 30, 2024 and 2023, the Company paid Panagiotis Kozaris an additional sum of $0 and $51,159 respectively for shares owned, however, no SPA for these funds has been executed as of June 30, 2024. The Company intends to execute a cumulative SPA for these amounts during 2024. The total balances owed of $194,215 and $194,215 are included in "Prepaid expenses and other current assets - related party", on the accompanying consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively. Basotho Investment Limited Basotho Investment Limited is considered a related party once Panagiotis Kozaris (former general operational manager and current employee of Cosmofarm SA) is one of its directors. General and administrative expenses On November 21, 2023, the Company issued 120,000 shares of common stock to Basotho Investment Limited for services rendered. The fair value of these shares for the period ended December 31, 2023 was $10,300, which was recorded as general and administrative expense. The fair value of the shares vested for the six-month period ended June 30, 2024 was $61,800, which was recorded as general and administrative expense. Maria Kozari Maria Kozari is considered a related party to the Company due to the fact that she is the daughter of Panagiotis Kozaris, a former Operational General Manager and current employee of Cosmofarm S.A. Accounts Receivable - Related Party During 2021, the Company, through its subsidiary, Cosmofarm SA, commenced a partnership with a pharmacy called “Pharmacy & More”, owned by Maria Kozari. The transactions with the respective pharmacy were in Cosmofarm’s normal course of business, however, a more flexible credit policy was allowed as the pharmacy was new and needed to be established in the market. During the three and six months ended June 30, 2024 and 2023 the Company’s net sales to Pharmacy & More amounted to $95,195 and $117,219 and $181,973 and $236,205 respectively. As of June 30, 2024 and December 31, 2023 the Company’s outstanding receivable balance due from the pharmacy amounted to $1,123,835 (€1,203,739) and $1,142,402 (€1,032,726), respectively, and are included in "Accounts receivable - related party", on the accompanying consolidated balance sheets. The Company plans to acquire Pharmacy & More within fiscal year 2024. Upon acquisition, the Company intends to offset the outstanding receivable balance with the corresponding purchase price and additionally plans to make Pharmacy & More the first shop-in-shop of its own branded line of nutraceutical products, Sky Premium Life® (SPL). Other Related Parties The Company has the following balances as of June 30, 2024: a) a balance of $698,000 relating to unpaid salaries and bonuses due to Grigorios Siokas, the CEO of the Company and George Terzis, the CFO of the Company, classified as "Accounts payable and accrued expenses - related party" in the Company’s consolidated balance sheets, b) a net payable balance of $37,292 due to Konstantinos Gaston Kanaroglou, former manager and current employee of the Company’s wholly owned subsidiary Cana, classified as "Accounts receivable" in the Company’s consolidated balance sheets. Additionally, the Company had the following balances as of December 31, 2023: a) a balance of $98,000 relating to unpaid salaries and bonuses due to George Terzis, the CFO of the Company, classified as "Accounts payable and accrued expenses - related party" in the Company’s consolidated balance sheets, b) a net payable balance of $85,332 due to Konstantinos Gaston Kanaroglou, former manager and current employee of the Company’s wholly owned subsidiary Cana, classified as "Accounts receivable" in the Company’s consolidated balance sheets. Notes Payable – Related Party A summary of the Company’s related party notes payable as of June 30, 2024 and December 31, 2023 is presented below: June 30, 2024 December 31, 2023 Beginning Balance $ 11,283 $ 10,912 Payments - Foreign currency translation (358 ) 371 Ending Balance $ 10,925 $ 11,283 Dimitrios Goulielmos Dimitris Goulielmos was the Company’s former CEO and a Director of the Company. 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 June 30, 2024 and December 31, 2023, the Company had a principal balance of €10,200 ($10,925) and €10,200 ($11,283), respectively. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the six months ended June 30, 2024, the Company recorded a foreign currency translation gain of $358. Loans Payable – Related Party A summary of the Company’s related party loans payable as of June 30, 2024 and December 31, 2023 is presented below: June 30, 2024 December 31, 2023 Beginning balance $ 13,257 $ 12,821 Proceeds - Payments (7,498 ) - Foreign currency translation (420 ) 436 Ending balance $ 5,339 $ 13,257 Grigorios Siokas From time to time, Grigorios Siokas loans the Company funds in the form of non-interest bearing, no-term loans. As of June 30, 2024, the Company had an outstanding principal balance under these loans of $5,339 in loans payable to Grigorios Siokas. As of December 31, 2023, the Company had an outstanding principal balance of $13,257 related to this payable. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the six months ended June 30, 2024, the Company recorded a gain of $420. 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
	Jun. 30, 2024
LINES OF CREDIT
LINES OF CREDIT	NOTE 10 – LINES OF CREDIT A summary of the Company’s lines of credit as of June 30, 2024 and December 31, 2023, is presented below: June 30, 2024 December 31, 2023 National $ 4,113,219 $ 3,918,523 Alpha 1,090,363 1,130,140 Pancreta 1,487,853 1,122,210 EFG 414,164 459,400 Ending balance $ 7,105,599 $ 6,630,273 The Company has three lines of credit with the National Bank of Greece, which are renewed annually. The three lines have interest rates of 6.00% (the "National Bank LOC"), 3.6% (the "COSME 2 Facility"), and 3.6% plus the six-month Euribor rate and any contributions currently in force by law on certain lines of credit (the "COSME 1 Facility"). The maximum borrowing allowed for the 6% line of credit was $3,186,523 and $3,290,945 as of June 30, 2024 and December 31, 2023, respectively. The outstanding balance of the facility was $3,044,762 and $2,829,828, as of June 30, 2024 and December 31, 2023, respectively. The cumulative maximum borrowing allowed for the COSME 1 Facility and COSME 2 Facility (collectively, the "Facilities") was $1,071,100 and $1,106,200 as of June 30, 2024 and December 31, 2023, respectively. The outstanding balance of the Facilities was $1,068,524 and $1,099,255 as of June 30, 2024 and December 31, 2023, respectively. The Company maintains a line of credit with Alpha Bank of Greece ("Alpha LOC"), which is renewed annually and has a current interest rate of 6.00%. The maximum borrowing allowed was $1,071,100 and $1,106,200 as of June 30, 2024 and December 31, 2023, respectively. The outstanding balance of the Alpha LOC was $1,090,364 and $1,130,141, as of June 30, 2024 and December 31, 2023, respectively. The Company holds a line of credit with Pancreta Bank ("Pancreta LOC"), which is renewed annually and has a current interest rate of 4.10%. The maximum borrowing allowed as of June 30, 2024 and December 31, 2023 was $1,488,829 and $1,537,618, respectively. The outstanding balance of the Pancreta LOC as of June 30, 2024 and December 31, 2023 was $1,487,852 and $1,122,210, respectively. The Company maintains a line of credit with EGF ("EGF LOC"), which is renewed annually and has a current interest rate of 4.49%. The maximum borrowing allowed as of June 30, 2024 and December 31, 2023 was $428,440 and $459,400, respectively. The outstanding balance of the EGF LOC as of June 30, 2024 and December 31, 2023 was $414,164 and $459,400, respectively. Under the aforementioned line of credit agreements, the Company is required to maintain certain financial ratios and covenants. As of June 30, 2024, and December 31, 2023, the Company was in compliance with these ratios and covenants. All lines of credit are guaranteed by customer receivable checks, which are a type of factoring in which postponed customer checks are assigned by the Company to the bank, in order to be financed at an agreed upon rate. Interest expense on the Company’s outstanding lines of credit balances for the three and six months ended June 30, 2024 and 2023, was $185,378 and $147,683, and 229,946 and $167,118, respectively.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2024
NOTES PAYABLE
NOTES PAYABLE	NOTE 11 – NOTES PAYABLE A summary of the Company’s third-party debt as of and for the six months ended June 30, 2024, and the year ended December 31, 2023 is presented below: June 30, 2024 Trade Facility Third Party COVID Loans Total Beginning balance, December 31, 2023 $ 1,908,195 $ 2,511,148 $ 186,884 $ 4,606,227 Proceeds Payments (240,998 ) (293,229 ) (7,145 ) (541,372 ) Conversion of debt - - - - Recapitalized upon debt modification - - - - Accretion of debt and debt discount - - - - Foreign currency translation (60,548 ) (62,972 ) (9,129 ) (132,649 ) Ending balance, June 30, 2024 1,606,649 2,154,947 170,610 3,932,206 Notes payable - long-term (1,124,655 ) (1,125,866 ) (140,909 ) (2,391,430 ) Notes payable - short-term $ 481,994 $ 1,029,081 $ 29,701 $ 1,540,776 December 31, 2023 Trade Facility Third Party COVID Loans Total Beginning balance, December 31, 2022 $ 3,305,532 $ 1,505,078 $ 207,377 $ 5,017,987 Proceeds - 1,082,231 - 1,082,231 Payments (1,155,310 ) (415,557 ) (27,027 ) (1,597,894 ) Oher additions - 317,880 - 317,880 Debt forgiveness (306,637 ) - - (306,637 ) Foreign currency translation (64,610 ) 21,516 6,534 92,660 Ending balance, December 31, 2023 1,908,195 2,511,148 186,884 4,606,227 Notes payable – long-term (1,327,440 ) (1,549,768 ) (159,344 ) (3,036,552 ) Notes payable - short-term $ 580,755 $ 961,380 $ 27,540 $ 1,569,675 Our outstanding debt as of June 30, 2024 is repayable as follows: June 30, 2024 2025 $ 1,540,776 2026 1,657,806 2027 376,470 2028 267,722 2029 and thereafter 89,432 Total debt 3,932,206 Less: notes payable - current portion (1,540,776 ) Notes payable - long term portion $ 2,391,430 Trade Facility Agreements On May 12, 2017, SkyPharm entered into a Trade Finance Facility Agreement (the “TFF”) 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 ($2,316,000), (the "EURO Loan") and USD $4,000,000 (the "USD Loan"). Interest on both the EURO Loan and USD Loan commenced on October 1, 2018, at 6% per annum plus one-month Euribor (3.90% as of December 31, 2023), and 6% plus one-month LIBOR (fully paid as of December 31, 2023), respectively. On December 30, 2020, the Company transferred the EURO Loan to a new third-party lender. The terms remained the same except interest accrues at 5.5% per annum plus one-month Euribor (3.87% as of December 31, 2023). The principal was scheduled to be repaid in a total of five quarterly installments beginning October 31, 2021 of €50,000 ($54,600) each with a final repayment of €1,800,000 ($1,965,600) Euro payable on October 31, 2022. On March 3, 2022, the Company entered into a modification agreement to extend the maturity date to January 10, 2023 and payments under the USD Loan. 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 modification agreement signed on March 3, 2022) until January 2023. During September 2022, the Company entered into an agreement with the Lender to postpone the repayment of the outstanding balance on the USD Loan of $3,950,000, plus unpaid accrued interest until January 2023. The Company capitalized fees paid upon modification of €200,000 ($221,060) that are being amortized over the life of the loan. The Company incurred non-cash interest expense of $200,000 during the year ended December 31, 2022 concerning the above capitalized fees. On December 22, 2022, SkyPharm signed an agreement for the extension of the payments and an increase in interest rate due under the EURO Loan that was extended to be repaid with a balloon payment now due on October 31, 2025. This extension was agreed upon in writing on December 22, 2022, with a retroactive modification date to October 31, 2022 (the original maturity date). As of December 31, 2023 the Company had an outstanding principal balance of €1,725,000 ($1,908,195), of which $1,327,440 is classified as ''Notes payable - long term portion" on the consolidated balance sheets. As of December 31, 2023, the Company had accrued $161,274 in interest expense related to these agreements. The Company repaid €225,000 ($240,998) of the EURO Loan during the six months ended June 30, 2024. As of June 30, 2024, the Company had an outstanding principal balance of €1,500,000 ($1,606,650), of which $1,124,655 is classified as ''Notes payable - long term portion" on the consolidated balance sheets. For the three and six months ended June 30, 2024, the Company had accrued $$80,805 and $38,393 in interest expense related to these agreements. June 23, 2020 Debt Agreement On June 23, 2020, the Company’s subsidiary, Cosmofarm, entered into an agreement with the National Bank of Greece S.A. (the “Bank”) to borrow a maximum of €500,000 ($611,500). The note 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 received in 3 equal monthly installments. The note is interest bearing from the date of receipt and is payable every three (3) months at an interest rate of 3.06% plus 3-month Euribor (3.78% as of June 30, 2024). The outstanding balance was €147,059 ($157,515) and €205,882 ($227,747) as of June 30, 2024 and December 31, 2023, respectively, of which $0 and $97,606 was classified as "Notes payable - long-term portion" respectively, on the accompanying condensed consolidated balance sheets. During the six months ended June 30, 2024, the Company repaid €58,824 ($63,006) of the principal balance. June 24, 2020 Debt Agreement On June 24, 2020, the Company’s subsidiary, Decahedron, 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, which was on July 10, 2020. The Company may prepay this loan without penalty at any time. As of December 31, 2023, the principal balance was £40,858 ($52,066). As of June 30, 2024, the principal balance was £38,329 ($48,437). 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% plus 0.6% plus 6-month Euribor when Euribor is positive (3.76% as of June 30, 2024). The principal is to be repaid in 18 quarterly installments of €27,778 ($30,333). During the six months ended June 30, 2024, the Company repaid €55,556 ($59,506) of the principal. As of June 30, 2024 and December 31, 2023, the Company has accrued interest of €10,393 ($11,132) and €11,191 ($12,379) related to this note and a principal balance of €166,667 ($178,517) and €222,222 ($245,822), of which $59,506 and $122,911 is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheets. 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 (3.78% as of June 30, 2024). Pursuant to the terms of the agreement, there is a nine-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. During the six months ended June 30, 2024, the Company repaid €54,238 ($58,094) of the principal. As of June 30, 2024 and December 31, 2023, the Company had accrued interest of €14,995 ($16,061) and €10,905 ($12,063) and principal of €262,662 ($281,338) and €316,900 ($350,555), of which $159,676 and $227,065 is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheets. 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”. The Note matures on June 16, 2027 and bears an annual interest rate of 3.89% plus an additional rate of 0.60%, plus the 3-month Euribor (3.76% as of June 30, 2024). 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. During the six months ended June 30, 2024, the Company repaid €40,000 ($42,844) of the principal. As of June 30, 2024 and December 31, 2023, the Company has accrued interest of €10,774 ($11,540) and €11,043 ($12,215), respectively, and an outstanding balance of €220,000 ($235,642) and €260,000 ($287,612) of which $154,994 and $204,322, respectively, is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheets. July 14, 2023 Debt Agreement On July 14, 2023 the Company entered into an agreement with a third-party lender in the principal amount of €1,000,000 ($1,123,700), the “Note”. The Note matures on July 31, 2028 and bears an annual interest rate of 2.46% plus the 3-month Euribor (3.78% as of June 30, 2024). Pursuant to the agreement, there is a nine-month grace period for interest and principal repayment. The principal is to be repaid in 18 equal quarterly installments of €55,556 commencing on May 2, 2024. During the six months ended June 30, 2024, the Company repaid €54,317 ($58,179) of the principal. As of June 30, 2024, and December 31, 2023, the Company has accrued interest of €22,522 ($24,124) and €19,820 ($21,925), respectively. As of June 30, 2024, and December 31, 2023 the Company an outstanding balance of €923,383 ($989,036) and €977,700 ($1,081,532), of which $751,690 and $897,165, respectively, is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheets. COVID-19 Loans On May 12, 2020, the Company’s subsidiary, SkyPharm, was granted and on May 22, 2020 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. As of December 31, 2023, the principal balance was $134,818. During the six months ended June 30, 2024, the Company repaid €7,813 ($8,368) of the principal balance. The outstanding balance as of June 30, 2024 is €114,063 ($122,172) of which $100,416, is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheet. Cloudscreen Promissory Note On January 23, 2024 the Company entered into an agreement with a third-party in the principal amount of €300,000 ($324,870), the “Promissory Note”. The Promissory Note matures on March 25, 2025 and is interest free. This Note is being given in connection with the Closing of the Asset Purchase, Sale and Transfer Agreement dated as of October 9, 2023 and as amended from time to time pursuant to which the Company agreed to purchase from the third-party a drug repurposing Artificial Intelligence “AI” powered platform known as “Cloudscreen®” (refer to Note 2, section “Acquisition accounting”). The principal is to be repaid in 15 equal monthly installments of €20,000 commencing on January 25, 2024. During the six months ended June 30, 2024, the Company repaid €10,000 ($10,830) of the principal and recorded a foreign currency gain of $5,850. As of June 30, 2024, and December 31, 2023 the Company an outstanding balance of $312,900 and $317,880 of which $0 and $0, respectively, is classified as "Notes payable - long term portion" on the accompanying condensed consolidated balance sheets. 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 had occurred on December 31, 2022, the Company would have been required to issue 420,471 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. On March 20, 2023, the Company’s legal counsel provided notice to Marathon Global Inc, that Cosmos terminated the Equity agreement dated on March 19, 2018 pursuant to Section 3.2 and that termination is effective thirty days from the date of the letter. None of the above loans were made by any related parties.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
LEASES
LEASES	NOTE 12 – LEASES The Company has various operating and finance lease agreements with terms up to 10 years, for various types of property and equipment (such as office space and vehicles) 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. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. Operating Leases The Company’s weighted-average remaining lease term relating to its operating leases is 4.08 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 operating leases as of June 30, 2024: Maturity of Operating Lease Liability 2024 155,883 2025 228,541 2026 166,808 2027 and thereafter 274,925 Total undiscounted operating lease payments $ 826,157 Less: Imputed interest (100,205 ) Present value of operating lease liabilities $ 725,952 The Company incurred lease expense, due to amortization of operating lease right-of-use assets, of $82,263 and $67,850 and $159,430 and $123,204, which was included in “General and administrative expenses,” for the three and six months ended June 30, 2024 and 2023, respectively. Finance Leases The Company’s weighted-average remaining lease term relating to its finance leases is 1.19 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, 2024: Maturity of Lease Liability 2024 16,120 2025 13,522 2026 3,567 Total undiscounted finance lease payments $ 33,209 Less: Imputed interest (1,254 ) Present value of finance lease liabilities $ 31,955 The Company had financing cash flows used in finances leases of $8,616 and $43,009 and $17,353 and $78,605 for the three and six months ended June 30, 2024 and 2023, respectively. The Company incurred interest expense on its finance leases of $583 and 7,488 and interest expense of $1,308 and $13,709 which was included in “Interest expense”, for the three and six months ended June 30, 2024 and 2023, respectively. The Company incurred amortization expense on its finance leases of $7,429 and amortization expense of $36,357 and $14,918 and $67,097 which was included in “Depreciation and amortization expense,” for the three and six months ended June 30, 2024 and 2023, respectively.

OTHER LIABILITIES

OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2024
OTHER LIABILITIES
OTHER LIABILITIES	NOTE 13– OTHER LIABILITIES The Company’s other liabilities include but are not limited to liabilities to local tax authorities, fines and payroll taxes, which comprise the largest portion of the balance as of June 30, 2024. The Company’s Greek subsidiaries have $2,018,525 in settled tax liabilities payable to the tax authorities in installments and $1,017,767 in payroll tax related current liabilities. Moreover, we have recorded a provision relating to the unaudited tax years of our subsidiary SkyPharm SA, of $619,670 and a provision for staff leaving compensation, based on the corresponding actuarial reports, of $395,698. Additionally, we have received prepayments from our customers of $355,255, included in “Other current liabilities” as of June 30, 2024. We classify the liabilities payable within the twelve months following the balance sheet date in “Other current liabilities” and the remaining balance is included in “Other Liabilities”.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
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, 2024, the following litigations were pending. None of the below is expected to have a material financial or operational impact. On July 22, 2015, the National Medicines Agency approved the license of wholesale sale of pharmaceutical products under the name SkyPharm SA with set validity at five years and an expiration date of July 22, 2020. Subsequently, SkyPharm on June 15, 2020, legally and timely submitted the application for renewal of the wholesale license of pharmaceutical products to the National Medicines Agency. The National Medicines Agency did not respond, therefore the Company asked for an immediate decision on the renewal. Two months after the filing of the no. 3459 / 15.01.2021 letter and almost nine months after the no. 627615.06.2020 Company application for the renewal, 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 (Greek National Medicines Organization) to SkyPharm states that after an inspection of EOF at the premises of Doc Pharma, we did not have a wholesale license in violation of article 106 par. 1b and par. 1c of the ministerial decision D.YG3a / GP.32221 / 29-4-2019. The National Medicines Agency imposed a fine of €15,000 ($16,214) on SkyPharm for the above case, which was included in "General and administrative" expense on the accompany statement of operations and comprehensive loss for the twelve-month ended December 31, 2023. There has been a payment request by the Greek court, which relates to a fine arising from Cosmofarm’s tax audit for financial year 2014. The law with no. 483/16.12.2020 was used by the court against Cosmofarm (the “defendant”). The defendant appealed against the decision using the law with no.11541/09.03.2021. This appeal was dismissed after 120 days from its submission to the court. Additionally, there had been an obligation for payment of additional tax and fines related to this matter in the amount of €91,652 ($99,644), which the defendant has already settled. However, the defendant has claimed back the respective amount through appeal. As of June 30, 2024, the trial is still pending. On January 25, 2023, a criminal case of dishonored checks against Cosmofarm’s customer Filippou, was heard at the Z’ Three-Member Misdemeanor Court of Athens, which was postponed to November 27, 2023, when the defendant was tried and found guilty. On January 26, 2023, the appeal of the Company against Eleutheria Drakopoulou and decision 1389/2021of the Single-Member Court of First Instance of Athens was heard at the Athens Court of Appeal. The appeal was partially accepted. The Court ordered the return of the fee to the appellants, dismissed the action against the third defendant, Kozaris and accepted the action as regards the first and the second defendants (Kastrantas & Cosmofarm). On October 23, 2023, a criminal case of dishonored checks against Cosmofarm’s customer Kafantaris was heard at the Sixth Single-Member Misdemeanor Court of Athens, which was postponed to January 26, 2024, when the defendant was convicted by decision no. 1599/2024. In October 2023, the Company’s subsidiary, Cana Laboratories was approached by an Attorney at law on behalf of two clients which were requesting an amount of €39,211 as compensation for the value of 34.70 square meters in relation to an urban sprawl with respect to which an Act of Imputation had been issued by the department of Urban Planning. Our legal counsel’s response was that CANA was not obliged to accept the compensatory value agreed and suggested exploring out of court settlement. As of today, the clients’ Attorney at law has not come back with any suggestions. Our subsidiary, Cana Laboratories, has two pending lawsuits against Euaggelismos Hospital for a total sum of EUR 526,436 due to unpaid bills. The court date for one of the two lawsuits is set for December 11, 2024, and for the other one has not yet been set. The opinion of our legal advisor is that the collection of the total sum by the Company is almost certain. Our subsidiary, Cana Laboratories, has an unasserted claim against Papanikolaou Hospital for a total sum of EUR 89,300 due to unpaid bills, which will be asserted through a lawsuit. The opinion of our legal advisor is that the collection of the sum by the Company is almost certain. A lawsuit dated April 5, 2018 against the Company’s subsidiary Cana Laboratories by a former employee before the Athens court of instance was initially heard on October 12, 2018. The former employee was seeking that the termination of her employment contract to be considered null and void and was requesting compensation for late wages and moral damages. Following numerous appeals, Judgment No. 1192/2024 was issued on September 26, 2023, which as explicitly stated by our legal counsel, requires CANA to rehire the former employee with the threat of a penalty of €200 for each day of non-compliance. As informed by our legal counsel, in order for the penalty to be effective the former employee should file a new lawsuit against CANA and request to get rehired. In case CANA denies employment, then the penalty should be in effect. As of today, we have not received neither a lawsuit nor any request of employment by the former employee. 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, and successful Nasdaq listing, the Company paid $100,000. The $100,000 bonus was incurred and settled within 2022. Finally, the Consultant received a total of 10,000 shares of the Company’s common stock, 2,000 of such shares that have been previously issued pursuant to previous agreements and additional 15,258 shares that were issued on February 2, 2023, based on the amendment signed on February 1, 2023. On November 21, 2023, the Company entered into certain consulting agreements with four third-party consultants for the provision of a variety of services such as digital marketing, advisory services relating to target acquisitions and M&As and other additional services as described in the respective agreements. The agreements have duration from 10 to 18 months and the consultants will solely receive stock consideration for the services rendered. More precisely, they have been awarded a total of 970,000 shares of the Company’s common stock valued at a total of $999,100 based on the fair value of the Company’s common stock as of the agreements’ date. The corresponding consulting expense is accrued evenly over the term of the agreements. For the twelve-month period ended December 31, 2023 the Company has recorded $77,250 as stocked based compensation for the above agreements, classified as “General and administrative expenses” in the Company’s consolidated statements of operations and comprehensive loss. For the three and six months ended June 30, 2024 and 2023 the Company has recorded $231,750 and $463,500 and $0 and $0 as stocked based compensation for the above agreements, classified as “General and administrative expenses” in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss. Research and Development Agreements The Company entered into a Research & Development agreement with Doc Pharma S.A. on May 17, 2021. Under this agreement, 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 ® On June 26, 2022, the Company signed a research and development (“R&D”) agreement with a third party, through which the Company assigns to the third party the development of new products and services in the field of health, focusing on the human intestinal microbiome. The project includes two phases. Phase 1 has a 20-month duration and its cost amounts to EUR 758,000 ($838,450) and phase 2, has a 22-month duration and a cost of EUR 820,000 ($907,084). The amount will be due and payable upon completion of the corresponding phases. The Company records the corresponding R&D expense based on the project’s progress, which is invoiced by the third party in the relevant period. For the six-month period ended June 30, 2024, the Company has not incurred such costs.

STOCK OPTIONS AND WARRANTS

STOCK OPTIONS AND WARRANTS	6 Months Ended
	Jun. 30, 2024
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS	NOTE 15 – STOCK OPTIONS AND WARRANTS Omnibus Equity Incentive Plan On September 19, 2022, the Company held a Board of Directors meeting, whereas, the Board of Directors had elected to adopt an Omnibus Equity Incentive Plan (the “2022 Plan”), that includes reserving 200,000 shares of common stock eligible for issuance under the 2022 Plan to be registered on a Form S-8 Registration Statement with the SEC. The 2022 Plan is designed to enable the flexibility to grant equity awards to the Company’s officers, employees, non-employee directors and consultants and to ensure that it can continue to grant equity awards to eligible recipients at levels determined to be appropriate by the Board and/or the Compensation Committee. According to the Proxy Statement filed with the SEC on October 20, 2022 the 2022 Plan received final approval by the Company’s stockholders at the Annual Meeting of Stockholders held on December 2, 2022. On April 3, 2023, the Company approved incentive stock awards for the CFO, certain officers and directors and other employees of the Company. The awards are in the form of restricted stock and will vest in two parts: 50% on October 2, 2023 and 50% on October 2, 2024. A total of 185,000 shares were awarded and a corresponding share-based compensation expense of $108,297 and $216,741 was recorded for the three and six months ended June 30, 2024, based on the amortization of fair value from the date of issuance of April 3, 2023, through March 31, 2024 and June 30, 2024, respectively. On August 21, 2023, the Board adopted, subject to stockholder approval, the Cosmos Health Inc. 2023 Omnibus Equity Incentive Plan (the “2023 Plan”). The 2023 Plan is designed to enable the flexibility to grant equity awards to our officers, employees, non-employee directors and consultants and to ensure that we can continue to grant equity awards to eligible recipients at levels determined to be appropriate by the Board and/or the Compensation Committee. Subject to certain adjustments (as provided in Section 4.2 of the 2023 Plan) and exception (as provided in Section 5.6(b) of the 2023 Plan), the maximum number of shares reserved for issuance under the 2023 Plan (including incentive share options) is 2,500,000 shares. The 2023 Plan was approved by the Company’s stockholders at the Annual Meeting of Stockholders held on September 18, 2023. 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 $50.50 per share. As a result, the Company issued additional warrants to the Company’s existing warrant holders to purchase 101,343 shares of common stock with an exercise price of $50.50 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 $93.75, b) exercise prices of $125.00, $150.00 and $187.50 before re-pricing, c) exercise price of $50.50 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%. As of June 30, 2024, there were 8,558,380 warrants outstanding and 8,558,380 warrants exercisable with 8,545,036 warrants having expiration dates from October 2024 through October 2029 and 13,334 warrants with no expiration date. A summary of the Company’s warrant activity for the six months ended June 30, 2024 and the year ending December 31, 2023 is as follows: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, January 1, 2023 4,194,236 $ 8.31 5.04 $ 2,562,621 Granted 7,524,933 1.65 5.13 - Forfeited - - - - Exercised (3,152,386 ) - - - Expired (5,307 ) - - - Balance Outstanding, December 31, 2023 8,561,476 $ 3.91 4.64 $ 18,801 Granted - - - - Forfeited - - - - Exercised - - - - Expired 3,096 - - - Balance Outstanding, June 30, 2024 8,558,380 $ 3.89 4.63 $ 13,867 - - - - Exercisable, June 30, 2024 8,558,380 $ 3.89 4.63 $ 13,867

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	6 Months Ended
	Jun. 30, 2024
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: Country June 30, 2024 June 30, 2023 Croatia $ (80 ) - Cyprus 50,208 35,333 Bulgaria 13,690 - Greece 12,912,561 11,582,138 USA - 294 UK 230,338 745,664 Total $ 13,206,717 $ 12,363,429 The following table presents our revenue disaggregated by country for the six months ended: Country June 30, 2024 June 30, 2023 Croatia $ 19,263 - Cyprus 72,545 68,648 Bulgaria 18,342 - Greece 27,138,133 23,496,370 USA - 294 UK 542,907 1,147,894 Total $ 27,791,190 $ 24,713,206

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 17 – SUBSEQUENT EVENTS On July 19, 2024, Cosmos Health received a notification letter (the "Notification Letter") from Nasdaq, informing the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). To regain compliance with the Minimum Bid Price Requirement, the closing bid of the Company's shares of common stock needed to be at least $1.00 per share for a minimum of ten (10) consecutive business days. The Notification Letter confirmed that the Company achieved a closing bid price of $1.00 or greater per common share for ten (10) consecutive business days from July 5, 2024 to July 18, 2024, thereby regaining compliance with the Minimum Bid Price Requirement. Accordingly, Nasdaq has determined that this matter is now closed. This cured the delinquency from March 20, 2024, notification that the Company’s common stock had failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Nasdaq Listing Rules.

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Policies)	6 Months Ended
	Jun. 30, 2024
ORGANIZATION AND NATURE OF BUSINESS (Policies)
Acquisition Accounting	Cloudscreen On January 23, 2024, the Company completed the acquisition of Cloudscreen, a cutting-edge Artificial Intelligence (AI) powered platform. The acquisition is pursuant to the purchase agreement announced on October 11, 2023. Cloudscreen is a multimodal platform specialized in drug repurposing, a process that involves uncovering new target proteins or indications for existing drugs for use in treating different diseases. The total purchase price amounted to $637,080 and consisted of 280,000 shares of common stock with a fair value of $319,200 and an amount of $317,880 to be settled in cash during 2024 based on the Promissory Note signed on October 10, 2023. The Company accounted for the acquisition as an asset acquisition in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, (“ASC 805”) and recorded $637,080 as an intangible asset related to the technology platform acquired. ZipDoctor On April 3, 2023, the Company completed the acquisition of ZipDoctor Inc. (“ZipDoctor”), a telehealth company for a total sum of $150,000 in cash and $8,788 in fees. The Company accounted for the acquisition as an asset acquisition in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations Bikas On June 15, 2023, Cosmos Health Inc. entered into an Assignment and Assumption Agreement (the “Agreement”) with Ioannis Bikas O.E., a Greek Company (“Bikas”). Bikas is owner of a pharmaceutical distribution network in Greece and agreed to sell to the Company their distribution network and customer base. The purchase price of the network was €100,000 ($109,330) in cash, and €300,000 ($316,081) in the Company’s common stock. The Company issued 99,710 shares of common stock related to the acquisition of the customer base, based on the fair value of the stock on the acquisition date. The Company accounted for the acquisition as an asset acquisition in accordance with ASC 805 and recorded $425,411 as an intangible asset related to the customer base acquired. Buildings Acquisitions On April 24, 2023, the Company purchased a building for a total sum of $1,054,872 in cash. The Company accounted for the acquisition as an asset acquisition in accordance with ASC 805 and recorded the cost of the building as "Property, plant and equipment" on the consolidated balance sheets. On January 6, 2023, the Company agreed to purchase land and building located in Montreal, Canada from a third-party vendor. The total purchase price amounts to $3,950,000 and the closing date of the agreement based on the amendment signed on July 19, 2023, is December 31, 2023. As of June 30, 2024, the Company has made no additional prepayments concerning this building. The closing date of the agreement has been extended to December 31, 2024. Cana On June 30, 2023, the Company acquired Cana Laboratories Holdings (Cyprus) Limited (“Cana”), which wholly owned an operating subsidiary, Pharmaceutical Laboratories Cana S.A. (“Cana SA”) for €800,000 ($873,600) in cash and 46,377 shares of common stock, with fair value of $138,667 as of the date of acquisition. Moreover, on February 28, Consideration Cash $ 5,331,120 Fair value of common stock issued 138,667 Fair value of total consideration transferred $ 5,469,787 Recognized amounts of identifiable assets acquired Financial assets $ 1,796,911 Inventory 297,340 Property, plant and equipment 7,488,818 Identifiable intangible assets 562,200 Financial liabilities (3,235,233 ) Total identifiable net assets $ 6,910,036 Bargain purchase gain $ 1,440,249 Revenue for the 6- month period ended December 31, 2023 $ 344,708 Loss for the 6- month period ended December 31, 2023 $ (1,232,732 ) During the prior year period, Cana had minimal operations as it was in financial difficulties and seeking for an investor.
Basis of Financial Statement Presentation	The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP.
Principles of Consolidation	Our consolidated accounts include our accounts and the accounts of our wholly owned subsidiaries, SkyPharm S.A., Decahedron Ltd., Cosmofarm S.A., Cana Laboratories Holdings (Cyprus) Limited and ZipDoctor Inc. The Group’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements reflect the consolidation of all entities in which the Company has control, as determined by the ability to direct the activities that significantly affect the entities’ economic performance. All significant intercompany balances and transactions have been eliminated.
Transactions in and Translations of Foreign Currency	The functional currency for the Greek subsidiaries of the Company (CANA Laboratories, Cosmofarm S.A. and SkyPharm SA) is EURO (€) and for the UK subsidiary (Decahedron Ltd) is GBP (£). ZipDoctor Inc. is a U.S. based entity. As a result, the financial statements of the subsidiaries (except for ZipDoctor Inc.) have been translated from the local currency into U.S. dollars using (i) year-end exchange rates for balance sheet accounts, and (ii) average exchange rates for the reporting period for all income statements accounts. Foreign currency translations gains and losses are reported as a separate component of the condensed consolidated statements of changes in stockholders’ equity and mezzanine equity.
Use of Estimates	The preparation of the 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 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 and, as such, 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. 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.
Credit Losses	In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments, which amends the requirement on the measurement and recognition of expected credit losses for financial assets held. Furthermore, amendments ASU 2019-10 and ASU 2019-11 provided additional clarification for implementing ASU 2016-13. ASU 2016-13 is effective for the Company beginning January 1, 2023, with early adoption permitted. The Company adopted the standard on January 1, 2023, and the standard did not have a material impact on the Company’s consolidated financial statements and related disclosures. The Company is exposed to credit losses primarily through sales to its customers and the loans that it has provided. The Company assesses each customer’s/ borrower’s ability to pay, and a credit loss estimate by conducting a credit review which includes consideration of established credit rating, or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market conditions, and age of the receivables. More specifically, the Company assesses a number of customers with significant long outstanding balances on an individual basis, applying different credit loss percentages to them, and subsequently summarizes the ones not included in the individual analysis, groups them based on their rating (decided based on the factors described above) and applies specific credit loss percentages to each group. The Company has elected to follow the simplified ECL approach. The charges related to credit losses are included in “General and administrative expenses” and are recorded in the period that the outstanding receivables are determined to be doubtful. Account balances are written-off against the allowance when they are deemed uncollectible.
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. 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).
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. As of June 30, 2024 and December 31, 2023, the Company’s allowance for doubtful accounts was $19,086,835 and $19,686,091, respectively. Below is the summary of changes in the allowance for doubtful accounts: June 30, 2024 Balance as of January 1st, 2024 $ 19,686,091 Provisions for credit losses - Write-offs - Foreign exchange adjustments (568,264 ) Other adjustments (30,992 ) Balance as of June 30, 2024 $ 19,086,835
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. As of June 30, 2024 and December 31, 2023, the Company had a VAT net receivable balance of $276,152 and $187,512 respectively, recorded in the consolidated balance sheet as prepaid expenses and other current assets and accounts payable and accrued expenses, respectively.
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, and 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. No significant judgments have been applied in estimating the selling price of our inventory.
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 25 years Buildings 25-30 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $103,558 and $79,163 for the three months ended June 30, 2024 and 2023, respectively and $216,432 and $112,569 for the six months ended June 30, 2024 and 2023, respectively. Property and Equipment additions Property and Equipment additions are recognized as assets when it is probable that future economic benefits associated with the asset will flow to the entity and the cost of the asset can be measured reliably. Additions are initially measured at cost, which includes all costs directly attributable to bringing the asset to its working condition and location for its intended use. This may include purchase price, freight, installation, and any directly attributable professional fees. They are capitalized if their cost exceeds a certain threshold. The threshold is determined based on materiality considerations. Costs below the threshold are typically expensed as incurred. After initial recognition, additions are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated systematically over the estimated useful life of the asset. They are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying amount exceeds the recoverable amount, an impairment loss is recognized, and the carrying amount of the asset is adjusted accordingly. Borrowing costs directly attributable to the acquisition, construction, or production of qualifying assets, including Property and Equipment additions, are capitalized as part of the cost of those 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. First, under step 0, we determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount. Following, if step 0 fails, 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 and a useful life of 10 years for the pharmaceutical and nutraceutical products licenses included in Note 4 as “Licenses”. A useful life of 10 years is also used for the platforms included in Note 4 as “Software” and the customer bases. 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, 2024 and December 31, 2023, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $193,518 and $16,035 for the three months ended June 30, 2024 and 2023, respectively and $383,373 and $50,270 for the six months ended June 30, 2024 and 2023, 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.
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 sale 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, 2024, investments consisted of 16,666 shares which traded at a closing price of $0.75 per share or value of $12,416 of National Bank of Greece. Additionally, the Company has $7,665 in equity securities of Pancreta Bank, which are revalued annually.
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. In addition, 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. Our financials also included the following financial instruments as of June 30, 2024 and December 31, 2023: cash, accounts receivable, inventory, prepaid expenses, loans receivable, accounts payable, notes payable and lines of credit. Except for the loans receivable which carry fixed interest rates, the carrying value of the remaining instruments, approximates fair value due to their short-term nature.
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 current liabilities 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 Topic 606, Revenue from Contracts with Customers 1) Identification of the Contract: The Company identifies a contract with a customer when it enters into an agreement that creates enforceable rights and obligations. 2) Identification of Performance Obligations: The Company identifies distinct performance obligations within each contract, which represent promises to transfer goods or services to the customer. 3) Determination of Transaction Price: The Company determines the transaction price, which represents the amount of consideration to which it expects to be entitled in exchange for transferring promised goods or services to the customer, excluding any amounts collected on behalf of third parties. 4) Allocation of Transaction Price: The Company allocates the transaction price to each distinct performance obligation based on its standalone selling price. If the standalone selling price is not observable, the Company estimates it using an appropriate method. 5) Recognition of Revenue: Revenue is recognized when (or as) the Company satisfies a performance obligation by transferring a promised good or service to the customer. This typically occurs at a point in time or over time, depending on the nature of the performance obligation. Wholesale revenue and sales of own branded nutraceutical and pharmaceutical products The Company has contracts or signed partnership forms (usual in the wholesale sector of the pharma industry) with its customers, stipulating the enforceable rights and obligations. The Company is responsible for transferring the goods to the customer’s location, which represents its sole performance obligation. Thus, the transaction price, which is predetermined in most of the products sold, is exclusively allocated to this performance obligation. Revenue is recognized at a single point in time, which is upon issuance of the corresponding sales invoice. The Company has assessed the impact of the items invoiced but not delivered to the customer’s location as of December 31, 2023 and June 30, 2024, and deemed that it had no material effect. Pharma manufacturing The Company has active contracts with its customers, stipulating the enforceable rights and obligations. The Company is responsible for the manufacturing and the packaging of specific products assigned by its customers, which represents its performance obligations to which the Company allocates the transaction price determined. The customers are responsible for providing the raw materials to the Company. Revenue is recognized over a period of time, which is during the production and packaging period of the respective products. As of June 30, 2024, there were no products or batches of products for which the production or packaging phase was in progress. Medihelm SA Commencing from January 1, 2023, and pursuant to the agreement with Medihelm, the exclusive distributor of the Company’s own proprietary line of nutraceuticals, the Company considers the transaction price to be variable and records an estimate of the transaction price, subject to the constraint for variable consideration. The Company is basing the change in transaction price with the exclusive distributor through assessment of significant overdue receivables from the exclusive distributor, which the Company reassesses each reporting period. Through this assessment, the Company applied the “expected value” model under ASC 606-10-32-5 and had applied specific constraints to revenue due from the customer at the end of each reporting period. Following the application of the “expected value” model, the Company had deferred an amount of $397,000 and recorded it against the sales to Medihelm for the twelve months ended December 31, 2024. However, the Company assessed once more the trading relationship with Medihelm SA at year end and since no significant receipts had taken place up to the issuance of the report, the Company recorded an allowance for the total receivable amount not received up to the issuance date. More specifically a cumulative reserve of $12,655,615 was applied, leaving a receivable of $532,704 due from Medihelm SA, as of December 31, 2023. The Company does not consider that new sales to Medihelm SA or sales to any other customer include a variable component as of June 30, 2024.
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.”
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 carryforwards. 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 25% in the 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, 2024, we believe our United Kingdom and Greece deferred tax assets will not be realized, as such, we did not record a reversal on the full valuation approach we followed during the year ended December 31, 2023.
Leases	The Company accounts for leases in accordance with ASC 842. For all leases, the Company recognizes a right-of-use (ROU) asset and a lease liability on the balance sheet. The ROU asset represents the Company's right to use the underlying asset for the lease term, and the lease liability represents the obligation to make lease payments arising from the lease, both measured at the present value of future lease payments. Lease payments are recognized as an operating expense on a straight-line basis over the lease term. The interest on the lease liability and the amortization of the ROU asset are recognized separately in the income statement. Initial direct costs incurred by the Company in negotiating and securing leases are capitalized and amortized over the lease term on a straight-line basis. 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 average interest rate of our long-term debt on the date of inception.
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 remuneration 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. The amount of the liability as of June 30, 2024 and December 31, 2023, was $395,698 and $408,665, 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. June 30, 2024 June 30, 2023 Weighted average number of common shares outstanding Basic 17,025,203 10,718,010 Potentially dilutive common stock equivalents - Weighted average number of common and equivalent shares outstanding – Diluted 17,025,203 10,718,010 The following table summarizes potential common shares that were excluded as their effect is anti-dilutive: June 30, 2024 June 30, 2023 Warrants 8,558,380 4,188,928 Total 8,558,380 4,188,928 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	In December 2022, the FASB issued ASU No. 2022-06, Deferral of the Sunset Date of Reference Rate Reform (Topic 848). Topic 848 provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The ASU is effective as of December 21, 2022 through December 31, 2024. We continue to evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. We adopted ASU 2022-06 during 2022. The Company adopted this ASU on June 30, 2023. The adoption of this ASU did not have a material impact on the Company’s accounting and disclosures. In March 2022, the FASB issued ASU 2022-02, Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which was adopted on January 1, 2020. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated financial statements. ASU 2022-02 also enhances the disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the ASU amends the guidance on vintage disclosures to require entities to disclose current period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU would be applied prospectively. Early adoption is also permitted, including adoption in an interim period. This ASU was adopted on January 1, 2023, which resulted in no cumulative-effect adjustment to retained earnings.
Recent Accounting Pronouncements	In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the U.S. and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures. This guidance expands public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments are required to be applied retrospectively to all prior periods presented in an entity’s financial statements. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements related disclosures. 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.

ORGANIZATION AND NATURE OF BU_3

ORGANIZATION AND NATURE OF BUSINESS (Tables)	6 Months Ended
	Jun. 30, 2024
ORGANIZATION AND NATURE OF BUSINESS
Schedule of exchange rate	Consideration Cash $ 5,331,120 Fair value of common stock issued 138,667 Fair value of total consideration transferred $ 5,469,787 Recognized amounts of identifiable assets acquired Financial assets $ 1,796,911 Inventory 297,340 Property, plant and equipment 7,488,818 Identifiable intangible assets 562,200 Financial liabilities (3,235,233 ) Total identifiable net assets $ 6,910,036 Bargain purchase gain $ 1,440,249 Revenue for the 6- month period ended December 31, 2023 $ 344,708 Loss for the 6- month period ended December 31, 2023 $ (1,232,732 )
Schedule of Accounts Receivable & Allowance for Doubtful Accounts	June 30, 2024 Balance as of January 1st, 2024 $ 19,686,091 Provisions for credit losses - Write-offs - Foreign exchange adjustments (568,264 ) Other adjustments (30,992 ) Balance as of June 30, 2024 $ 19,086,835
Schedule of Property and Equipment, net	Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 25 years Buildings 25-30 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years
Schedule of Basic and Diluted Net Loss per Common Share	June 30, 2024 June 30, 2023 Weighted average number of common shares outstanding Basic 17,025,203 10,718,010 Potentially dilutive common stock equivalents - Weighted average number of common and equivalent shares outstanding – Diluted 17,025,203 10,718,010
Schedule of potential shares of common stock	June 30, 2024 June 30, 2023 Warrants 8,558,380 4,188,928 Total 8,558,380 4,188,928

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2024
PROPERTY AND EQUIPMENT, NET
Schedule of Property and Equipment, net	June 30, 2024 December 31, 2023 Land $ 3,438,343 $ 3,551,020 Buildings and improvements 4,674,665 4,787,963 Leasehold improvements 3,524 3,639 Vehicles 274,487 285,388 Furniture, fixtures and equipment 2,697,076 2,707,442 Computers and software 195,302 168,173 11,283,397 11,503,625 Less: Accumulated depreciation and amortization (1,229,411 ) (1,048,126 ) Total $ 10,053,986 $ 10,455,499

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
INTANGIBLE ASSETS
Schedule of Intangible Assets	June 30, 2024 December 31, 2023 License $ 6,714,555 $ 6,876,169 Trade name / mark 390,188 392,197 Customer base 602,204 602,204 Software 795,868 155,788 8,502,814 8,029,357 Less: Accumulated amortization License (609,659 ) (235,925 ) Trade name / mark (36,997 ) (36,997 ) Customer base (141,994 ) (110,160 ) Software (47,619 ) (11,789 ) Subtotal 7,666,545 7,634,486 Goodwill 49,697 49,697 Total $ 7,716,242 $ 7,684,183
Schedule of amortization expense for intangible assets	Year Amount 2024 $ 405,212 2025 807,519 2026 808,689 2027 808,689 2028 756,665 Thereafter 3,724,570 Total $ 7,311,545

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2024
RELATED PARTY TRANSACTIONS
Schedule of Related Party Notes Payable activity	June 30, 2024 December 31, 2023 Beginning Balance $ 11,283 $ 10,912 Payments - Foreign currency translation (358 ) 371 Ending Balance $ 10,925 $ 11,283
Schedule of Related Party Loans Payable	June 30, 2024 December 31, 2023 Beginning balance $ 13,257 $ 12,821 Proceeds - Payments (7,498 ) - Foreign currency translation (420 ) 436 Ending balance $ 5,339 $ 13,257

LINES OF CREDIT (Tables)

LINES OF CREDIT (Tables)	6 Months Ended
	Jun. 30, 2024
LINES OF CREDIT
Schedule of Lines of Credit	June 30, 2024 December 31, 2023 National $ 4,113,219 $ 3,918,523 Alpha 1,090,363 1,130,140 Pancreta 1,487,853 1,122,210 EFG 414,164 459,400 Ending balance $ 7,105,599 $ 6,630,273

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2024
NOTES PAYABLE
Summary of roll forward of the third party Debt	June 30, 2024 Trade Facility Third Party COVID Loans Total Beginning balance, December 31, 2023 $ 1,908,195 $ 2,511,148 $ 186,884 $ 4,606,227 Proceeds Payments (240,998 ) (293,229 ) (7,145 ) (541,372 ) Conversion of debt - - - - Recapitalized upon debt modification - - - - Accretion of debt and debt discount - - - - Foreign currency translation (60,548 ) (62,972 ) (9,129 ) (132,649 ) Ending balance, June 30, 2024 1,606,649 2,154,947 170,610 3,932,206 Notes payable - long-term (1,124,655 ) (1,125,866 ) (140,909 ) (2,391,430 ) Notes payable - short-term $ 481,994 $ 1,029,081 $ 29,701 $ 1,540,776 December 31, 2023 Trade Facility Third Party COVID Loans Total Beginning balance, December 31, 2022 $ 3,305,532 $ 1,505,078 $ 207,377 $ 5,017,987 Proceeds - 1,082,231 - 1,082,231 Payments (1,155,310 ) (415,557 ) (27,027 ) (1,597,894 ) Oher additions - 317,880 - 317,880 Debt forgiveness (306,637 ) - - (306,637 ) Foreign currency translation (64,610 ) 21,516 6,534 92,660 Ending balance, December 31, 2023 1,908,195 2,511,148 186,884 4,606,227 Notes payable – long-term (1,327,440 ) (1,549,768 ) (159,344 ) (3,036,552 ) Notes payable - short-term $ 580,755 $ 961,380 $ 27,540 $ 1,569,675
Summary of Outstanding Debt	Our outstanding debt as of June 30, 2024 is repayable as follows: June 30, 2024 2025 $ 1,540,776 2026 1,657,806 2027 376,470 2028 267,722 2029 and thereafter 89,432 Total debt 3,932,206 Less: notes payable - current portion (1,540,776 ) Notes payable - long term portion $ 2,391,430

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
LEASES
Schedule of maturity of Operating Lease liability	Maturity of Operating Lease Liability 2024 155,883 2025 228,541 2026 166,808 2027 and thereafter 274,925 Total undiscounted operating lease payments $ 826,157 Less: Imputed interest (100,205 ) Present value of operating lease liabilities $ 725,952
Schedule of maturity of finance lease liability	Maturity of Lease Liability 2024 16,120 2025 13,522 2026 3,567 Total undiscounted finance lease payments $ 33,209 Less: Imputed interest (1,254 ) Present value of finance lease liabilities $ 31,955

STOCK OPTIONS AND WARRANTS (Tab

STOCK OPTIONS AND WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2024
STOCK OPTIONS AND WARRANTS
Schedule of option activity	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, January 1, 2023 4,194,236 $ 8.31 5.04 $ 2,562,621 Granted 7,524,933 1.65 5.13 - Forfeited - - - - Exercised (3,152,386 ) - - - Expired (5,307 ) - - - Balance Outstanding, December 31, 2023 8,561,476 $ 3.91 4.64 $ 18,801 Granted - - - - Forfeited - - - - Exercised - - - - Expired 3,096 - - - Balance Outstanding, June 30, 2024 8,558,380 $ 3.89 4.63 $ 13,867 - - - - Exercisable, June 30, 2024 8,558,380 $ 3.89 4.63 $ 13,867

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	6 Months Ended
	Jun. 30, 2024
DISAGGREGATION OF REVENUE
Schedule of Revenue Disaggregation	Country June 30, 2024 June 30, 2023 Croatia $ (80 ) - Cyprus 50,208 35,333 Bulgaria 13,690 - Greece 12,912,561 11,582,138 USA - 294 UK 230,338 745,664 Total $ 13,206,717 $ 12,363,429 Country June 30, 2024 June 30, 2023 Croatia $ 19,263 - Cyprus 72,545 68,648 Bulgaria 18,342 - Greece 27,138,133 23,496,370 USA - 294 UK 542,907 1,147,894 Total $ 27,791,190 $ 24,713,206

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Net loss			$ (4,457,401)	$ (1,441,393)
Amortization of right-of-use assets			14,918	67,097
Accumulated deficit	$ (96,101,634)		(96,101,634)			$ (91,644,233)
Stockholders' equity	32,119,574	$ 43,669,058	32,119,574	43,669,058	$ 34,546,682	$ 36,043,028	$ 44,007,783	$ 39,284,295
Revenue	13,206,717	$ 12,363,429	27,791,190	$ 24,713,206
CANA Pharmaceutical Laboratories, S.A. ("Cana") [Member]
Net cash used in operations			4,622,989
Working capital	8,593,711		8,593,711
Amortization of right-of-use assets			1,606,650
Cash proceed	$ 629,426		$ 629,426
Proceeds from sale of common stock			901,488

ORGANIZATION AND NATURE OF BU_4

ORGANIZATION AND NATURE OF BUSINESS (Details) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Financial assets		$ 60,827,344				$ 60,827,344	$ 66,014,811
Net loss		(2,590,711)	$ (1,866,690)	$ (981,530)	$ (459,863)	(4,457,401)		$ (1,441,393)
CANA Pharmaceutical Laboratories, S.A. ("Cana") [Member]
Cash						5,331,120
Fair value of common stock issued	$ 138,667					138,667
Fair value of total consideration transferred						5,469,787
Financial assets		1,796,911				1,796,911
Inventory		297,340				297,340
Property, plant and equipment		7,488,818				7,488,818
Identifiable intangible assets		562,200				562,200
Financial liabilities		(3,235,233)				(3,235,233)
Total identifiable net assets		6,910,036				6,910,036
Bargain purchase gain		$ 1,440,249				$ 1,440,249
Revenue							344,708
Net loss							$ (1,232,732)

ORGANIZATION AND NATURE OF BU_5

ORGANIZATION AND NATURE OF BUSINESS (Details 1)	6 Months Ended
	Jun. 30, 2024 USD ($)
ORGANIZATION AND NATURE OF BUSINESS
Balance as of January 1st, 2024	$ 19,686,091
Provisions for credit losses	0
Write-offs	0
Foreign exchange adjustments	(568,264)
Other adjustments	(30,992)
Balance as of June 30, 2024	$ 19,086,835

ORGANIZATION AND NATURE OF BU_6

ORGANIZATION AND NATURE OF BUSINESS (Details 2)	6 Months Ended
	Jun. 30, 2024
Vehicles [Member]
Estimated Useful Life	6 years
Machinery [Member]
Estimated Useful Life	20 years
Furniture, fixtures and equipment [Member] | Minimum [Member]
Estimated Useful Life	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Estimated Useful Life	10 years
Computers and software [Member] | Minimum [Member]
Estimated Useful Life	3 years
Computers and software [Member] | Maximum [Member]
Estimated Useful Life	5 years
Leasehold improvements and technical works [Member]
Estimated useful life, description	Lesser of lease term or 25 years
Buildings [Member] | Minimum [Member]
Estimated Useful Life	25 years
Buildings [Member] | Maximum [Member]
Estimated Useful Life	30 years

ORGANIZATION AND NATURE OF BU_7

ORGANIZATION AND NATURE OF BUSINESS (Details 3) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
ORGANIZATION AND NATURE OF BUSINESS
Weighted average number of common shares outstanding Basic	17,025,203	10,718,010
Weighted average number of common and equivalent shares outstanding - Diluted	17,025,203	10,718,010

ORGANIZATION AND NATURE OF BU_8

ORGANIZATION AND NATURE OF BUSINESS (Details 4) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
ORGANIZATION AND NATURE OF BUSINESS
Common Stock Warrants	8,558,380	4,188,928
Convertible Debt	8,558,380	4,188,928

ORGANIZATION AND NATURE OF BU_9

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - USD ($)	1 Months Ended					3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 23, 2024	Jun. 30, 2023	Jun. 15, 2023	Mar. 17, 2023	Feb. 28, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jan. 06, 2023
VAT net receivable and payable balance						$ 276,152		$ 276,152		$ 187,512
Long-term liability						395,698		395,698		408,665
Allowance for doubtful accounts								19,086,835		19,686,091
Foreign accounts						12,655,615		12,655,615		$ 532,704
Depreciation expense						103,558	$ 79,163	216,432	$ 112,569
Amortization expense						193,518	$ 16,035	383,373	$ 50,270
Equity method investment aggregate cost											$ 3,950,000
ICC International Cannabis Corp [Member]
Equity method investment aggregate cost						0		$ 0
National Bank of Greece [Member]
Shares of common stock issued								16,666
Equity method investment aggregate cost						12,416		$ 12,416
Closing price								$ 0.75
Pancreta Bank [Member]
Equity method investment aggregate cost						$ 7,665		$ 7,665
Greece [Member]
Cash			$ 109,330
Intangible assets			425,411
Issuable stock amount			$ 316,081
Income tax rate								22%
Shares issued			99,710
United Kingdom Of England [Member]
Income tax rate								25%
CANA Pharmaceutical Laboratories, S.A. ("Cana") [Member]
Cash		$ 873,600
Issuable stock amount		$ 138,667						$ 138,667
Shares issued		46,377
Asset acquision					$ 5,469,787
Secured Promissory Note					$ 4,457,520
Zip Doctor Inc [Member]
Cash				$ 150,000
Payment in fees				8,788
Intangible assets				$ 158,788
Cloudscreen [Member]
Cash	$ 317,880
Total purchase price amount	$ 637,080
Shares of common stock issued	280,000
Shares of common fair value	$ 319,200
Asset acquisition	$ 637,080

EQUITY METHOD INVESTMENTS (Deta

EQUITY METHOD INVESTMENTS (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 CAD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Gain on extinguishment of debt	$ 0	$ 2,257		$ 0		$ 1,910,770
Cosmo Farmacy LP [Member]
Initial share capital | €					€ 150,000
Initial share capital increased | €					500,000
Pharmacy license value | €					€ 350,000
Maturity period of license			30 years	30 years	30 years
Ownership equity	70%			70%
Cash contributed to limited partner | €					€ 30
Equity ownership remaining	30%			30%
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member]
Upfront cash received			$ 2,000,000
Fair value of settlement account				$ 1,554,590
Gain on extinguishment of debt				$ 1,554,590
Agreement term			five (5) years	five (5) years	five (5) years
Cash received upon gross sales			$ 2,750,000
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member] | Gross Sales One [Member]
Cash received upon gross sales			2,750,000
Gross sales			13,000,000
Marathon Global Inc [Member] | Distribution and Equity Acquisition Agreement [Member] | Gross Sales [Member]
Cash received upon gross sales			2,750,000
Gross sales			$ 6,500,000
Share Exchange Agreement [Member] | ICC [Member]
Investement	$ 160,665			$ 160,665			$ 165,930

PROPERTY PLANT AND EQUIPMENT (D

PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property plant and equipment	$ 11,283,397	$ 11,503,625
Less: Accumulated depreciation	(1,229,411)	(1,048,126)
Total	10,053,986	10,455,499
Land [Member]
Property plant and equipment	3,438,343	3,551,020
Computers and software [Member]
Property plant and equipment	195,302	168,173
Vehicles [Member]
Property plant and equipment	274,487	285,388
Leasehold Improvements [Member]
Property plant and equipment	3,524	3,639
Furniture, fixtures and equipment [Member]
Property plant and equipment	2,697,076	2,707,442
Building And Improvements [Member]
Property plant and equipment	$ 4,674,665	$ 4,787,963

INTANGIBLE ASSETS NET (Details)

INTANGIBLE ASSETS NET (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Goodwill and intangible assets, gross	$ 8,502,814	$ 8,029,357
Subtotal	7,666,545	7,634,486
Goodwill	49,697	49,697
Total	7,716,242	7,684,183
Customer Base [Member]
Goodwill and intangible assets, gross	602,204	602,204
Less: Accumulated Amortization	(141,994)	(110,160)
Trade name / mark [Member]
Goodwill and intangible assets, gross	390,188	392,197
Less: Accumulated Amortization	(36,997)	(36,997)
License [Member]
Goodwill and intangible assets, gross	6,714,555	6,876,169
Less: Accumulated Amortization	(609,659)	(235,925)
Software [Member]
Goodwill and intangible assets, gross	795,868	155,788
Less: Accumulated Amortization	$ (47,619)	$ (11,789)

INTANGIBLE ASSETS NET (Details

INTANGIBLE ASSETS NET (Details 1)	Jun. 30, 2024 USD ($)
INTANGIBLE ASSETS
2024	$ 405,212
2025	807,519
2026	808,689
2027	808,689
2028	756,665
Thereafter	3,724,570
Total amortization	$ 7,311,545

LOAN RECEIVABLE (Details Narrat

LOAN RECEIVABLE (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 30, 2021	Jun. 30, 2024	Dec. 31, 2023
LOAN RECEIVABLE
Prepayments of loan	$ 4,849,221
Interest rate	5.50%
Principal payments			$ 389,867
Short-term receivable		$ 167,824	411,858
Interest payments		$ 86,341	193,265
Long term receivables			$ 3,509,200
Loan receivables term	360 days
Decription of loan payment	the Company is to receive 120 equal payments over the term of the loan

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income tax expenses benefit	$ 0	$ 65,873	$ 93,171	$ 0	$ 65,873
Greece [Member]
Corporate tax rate				22%
United Kingdom [Member]
Corporate tax rate				25%

CAPITAL STRUCTURE (Details Narr

CAPITAL STRUCTURE (Details Narrative) - USD ($)	1 Months Ended		6 Months Ended		12 Months Ended
	Dec. 29, 2023	Jan. 24, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Preferred stock, shares authorized			100,000,000		100,000,000
Shares issued to raised additional equity funds, shares			901,488
Preferred stock, shares outstanding			0		0
Shares issued to raised additional equity funds, value			$ 648,893
Preferred stock, shares issued			0		0
Common stock, shares issued			17,834,023		15,982,472
Common stock, shares authorized			300,000,000		300,000,000
Common stock shares value			$ 17,834		$ 15,983
Common stock, shares outstanding			17,747,526		15,895,975
Placement Agent [Member]
Fees and other commissions			$ 19,467
Net proceeds			629,426
Warrant Exchange [Member]
Common stock, shares issued	1,487,000
Pre-funded warrants issued	2,437,063
Gross cash proceeds from warrants exercised	$ 3,533,741
Shares held in escrow	950,063
Term	5 years
Warrant Exchange [Member] | Minimum [Member]
Warrants exercise price	$ 2.75
Warrant Exchange [Member] | Maximum [Member]
Warrants exercise price	$ 1.45
Series A Preferred Stock [Member]
Deemed dividend			$ 372,414			$ 372,414
Description of convertible into Common Stock			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) $75.00 or (ii) 80% of the average volume weighted average price for the Company’s Common Stock for the five 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 $15.54 per share.
Dividend rate, per year						8%
Total mezzanine equity			$ 0		$ 0
Preferred stock, Liquidation Preference			6,000,000		6,000,000
Issuance of common stock [Member]
Common stock shares issued for services				15,258
Treasury Stocks One [Member]
Common stock, shares issued			86,497		86,497
Common stock, shares purchased			0		71,000
Common stock, shares purchased amount			$ 0		$ 100,452
Common stock, authorization to purchase		$ 3,000,000
Common stock shares value			$ 917,159		$ 917,159

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Notes Payable - Related Party [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Beginning balance	$ 11,283	$ 10,912
Payments	0	0
Foreign currency translation	(358)	371
Ending balance	$ 10,925	$ 11,283

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Beginning balance	$ 13,257
Ending balance	5,339	$ 13,257
Loans Payable - Related Party [Member]
Beginning balance	13,257	12,821
Proceeds		0
Payments	(7,498)	0
Foreign currency translation	(420)	436
Ending balance	$ 5,339	$ 13,257

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 29, 2023	Jun. 28, 2023	Feb. 28, 2023	May 17, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Interest income					$ 102,030	$ 261,269	$ 207,795	$ 444,685
Principal repayments							$ 17,504	77,753
Common stock share issued					17,834,023		17,834,023		15,982,472
Accounts receivable balance					$ 18,383,107		$ 18,383,107		$ 19,759,254
Prepaid expenses and other current assets - related party					2,100,450		2,100,450		1,811,911
Basotho Investment Limited [Member]
General and administrative expenses							61,800		$ 10,300
Common stock share issued									120,000
DOC Pharma S.A. 1 [Member]
Inventroy purchase					236,590	2,767	425,638	607,984
Grigorios Siokas [Member]
Outstanding principal balance					5,339		5,339		$ 13,257
Foreign curreny translation							420
Cana Holdings Laboratories Holding Limited [Member]
Secured promissory note			$ 4,457,520
Description related to interest on principal			Interest on the Principal Amount under this Note shall accrue at a rate equal to Five Percent (5%) plus 1 month LIBOR per annum (5.47% as of December 31, 2023)
DOC Pharma S.A. [Member]
Interest income							103,584
Principal repayments							224,220
Interest repayments							$ 86,841
Interest rate							5.50%
Loan term							10 years
Maturity date							Dec. 01, 2032
Accounts payable and accrued expenses - related party					112,019		$ 112,019		34,217
Prepaid balance									4,279,200
Accounts receivable - related party					2,774,038		2,774,038		2,386,721
Prepaid expenses and other current assets - related party					5,482,679		$ 5,482,679		4,347,184
Agreement terminate							Dec. 31, 2025
Pieces per product							1,000 pieces
Purchased of additional licenses							$ 525,461
Loan current portion					431,640		431,640		442,480
Loan non-current portion					3,345,210		3,345,210		3,539,840
Inventroy purchase					136,378	2,120	520,699	193,831
Purchase of branded pharmaceuticals	$ 3,539,840	$ 1,965,600
Description of research and development				The total cost of this project will be €1,425,000 plus VAT and will be done over three phases as follows: Design & Development (€725,000); Control and Product Manufacturing (€250,000) and Clinical Study and Research (€450,000). SkyPharm has bought a total of as of 81 licenses at value of €554,500 ($593,204) which is 38.91% of the total cost, as of December 31, 2022
Monthly basis instalments							35,660
DOC Pharma S.A. [Member] | Inventories Related Agreement [Member]
Inventroy purchase					66,295	190,021	137,027	593,427
Dimitrios Goulielmos [Member]
Outstanding principal balance					10,925		10,925		11,283
Foreign curreny translation							358
Panagiotis Kozaris [Member]
Shares owned					0	51,159
Prepaid expenses					194,215		194,215		194,215
Maria Kozari [Member]
Accounts receivable balance					1,123,835		1,123,835		1,142,402
Net sales					95,195	$ 117,219	181,973	$ 236,205
George Terzis [Member]
Unpaid salaries and bonuses					698,000		698,000		98,000
Kanarogloy & Sia Epe [Member]
Accounts payable and accrued expenses - related party					$ 37,292		$ 37,292		$ 85,332

LINES OF CREDIT (Details)

LINES OF CREDIT (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Subtotal	$ 7,105,599	$ 6,630,273
National [Member]
Subtotal	4,113,219	3,918,523
Alpha [Member]
Subtotal	1,090,363	1,130,140
Pancreta [Member]
Subtotal	1,487,853	1,122,210
EGF [Member]
Subtotal	$ 414,164	$ 459,400

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Line of credit description			The three lines have interest rates of 6.00% (the "National Bank LOC"), 3.6% (the "COSME 2 Facility"), and 3.6% plus the six-month Euribor rate and any contributions currently in force by law on certain lines of credit (the "COSME 1 Facility").
Interest Expense	$ 342,446	$ 244,135	$ 511,118	$ 378,508
Line of Credit [Member] | National Bank of Greece Two [Member]
Borrowing	1,071,100		1,071,100		$ 1,106,200
Outstanding debt balance			1,068,524		1,099,255
Line of Credit [Member] | Alpha Bank of Greece [Member]
Borrowing	1,071,100		1,071,100		1,106,200
Outstanding debt balance			1,090,364		1,130,141
Line of Credit [Member] | Pancreta Bank of Greece [Member]
Borrowing	1,488,829		1,488,829		1,537,618
Outstanding debt balance			1,487,852		1,122,210
National Bank of Greece One [Member] | Line of Credit [Member]
Borrowing	3,186,523		3,186,523		3,290,945
Outstanding debt balance			3,044,762		2,829,828
EGF [Member] | Line of Credit [Member]
Borrowing	428,440		428,440		$ 459,400
Outstanding debt balance			414,164
Lines of credit [Member]
Interest Expense	$ 185,378	$ 147,683	$ 229,946	$ 167,118

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Notes payable - long-term	$ (2,391,430)	$ (3,035,341)
Notes payable - short-term	1,540,776	1,570,886
Trade Facility [Member]
Beginning balance loans	1,908,195	3,305,532
Proceeds	0	0
Reclassification of Line of Credit	0
Payments	(240,998)	(1,155,310)
Conversion of debt	0
Recapitalized upon debt modification	0
Accretion of debt and debt discount	0
Foreign currency translation	(60,548)	(64,610)
Subtotal	1,606,649	1,908,195
Notes payable - long-term	(1,124,655)	(1,327,440)
Oher additions		0
Notes payable- short -term	481,994	580,755
Debt forgiveness		(306,637)
COVID Loans [Member]
Beginning balance loans	186,884	207,377
Proceeds	0	0
Reclassification of Line of Credit	0
Payments	(7,145)	(27,027)
Conversion of debt	0
Recapitalized upon debt modification	0
Accretion of debt and debt discount	0
Foreign currency translation	(9,129)	6,534
Subtotal	170,610	186,884
Notes payable - long-term	(140,909)	(159,344)
Notes payable - short-term	29,701	27,540
Oher additions		0
Debt forgiveness		0
Loan Facility [Member]
Beginning balance loans	4,606,227	5,017,987
Proceeds	0	1,082,231
Reclassification of Line of Credit	0
Payments	(541,372)	(1,597,894)
Conversion of debt	0	(306,637)
Recapitalized upon debt modification	0	317,880
Foreign currency translation	(132,649)	92,660
Subtotal	3,932,206	4,606,227
Notes payable - long-term	(2,391,430)	(3,036,552)
Notes payable - short-term	1,540,776	1,569,675
Third Party [Member]
Beginning balance loans	2,511,148	1,505,078
Proceeds	(293,229)	1,082,231
Reclassification of Line of Credit	0
Payments		(415,557)
Conversion of debt	0
Recapitalized upon debt modification	0
Accretion of debt and debt discount	0
Foreign currency translation	(62,972)	21,516
Subtotal	2,154,947	2,511,148
Notes payable - long-term	(1,125,866)	(1,549,768)
Notes payable - short-term	$ 1,029,081	961,380
Oher additions		317,880
Debt forgiveness		$ 0

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1)	Jun. 30, 2024 USD ($)
NOTES PAYABLE
2025	$ 1,540,776
2026	1,657,806
2027	376,470
2028	267,722
2029 and thereafter	89,432
Total Debt	3,932,206
Less: notes payable - current portion	(1,540,776)
Notes payable - long term portion	$ (2,391,430)

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative)		1 Months Ended			6 Months Ended
	May 12, 2020 USD ($)	Jul. 30, 2021 USD ($)	Nov. 19, 2020 USD ($)	Jun. 23, 2020 USD ($)	Jun. 30, 2024 CAD ($) shares	Jun. 30, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Mar. 03, 2022 USD ($)	Dec. 30, 2020	Oct. 17, 2018 USD ($)
Stock issued for debt obligation | shares					420,471	420,471
Outstanding principal loan balance		$ 578,850						$ 3,950,000
Note payable long term						$ 2,391,430	$ 3,035,341
Interest rate description					one-month Euribor (3.90% as of December 31, 2023), and 6% plus one-month LIBOR (fully paid as of December 31, 2023), respectively	one-month Euribor (3.90% as of December 31, 2023), and 6% plus one-month LIBOR (fully paid as of December 31, 2023), respectively
Non cash interest expenses						$ 200,000
Repayment of installment						$ 500,000
Final repayment | shares					1,965,600	1,965,600
Full and Final Settlement Agreement [Member]
Repayment of loan						$ 240,998
Outstanding principal loan balance						1,606,650	1,908,195
Note payable long term						1,124,655	1,327,440
Accrued interest expenses						80,805	161,274	$ 38,393
Debt Exchange Agreement [Member]
Outstanding principal loan balance			$ 611,500			0	0
Accrued interest expenses						11,132	12,379
Repayments of debt						59,506
Agreement description			bears an annual interest rate, based on a 360-day year, of 3% plus 0.6% plus 6-month Euribor when Euribor is positive (3.76% as of June 30, 2024). The principal is to be repaid in 18 quarterly installments
Notes payable long term						59,506	122,911
Principal amount of existing loan						178,517	245,822
July 30, 2021 Debt Agreement [Member]
Outstanding principal loan balance						281,338	350,555
Note payable long term						159,676	227,065
Accrued interest expenses						16,061	12,063
Repayments of debt						58,094
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 (3.78% as of June 30, 2024). Pursuant to the terms of the agreement, there is a nine-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
Notes payable long term						247,186
Covid Ninteen [Member]
Outstanding principal loan balance						134,818
Loan received from related party	$ 366,900					100,416
Debt principal balance						8,368	122,172
Covid Ninteen [Member] | United Kingdom Government [Member]
Loan prinipal amount						48,437	52,066
June 9, 2022 Debt Agreement One [Member]
Outstanding principal loan balance						235,642	287,612
Repayments of debt						$ 42,844
Agreement description					the Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008), the “Note”. The Note matures on June 16, 2027 and bears an annual interest rate of 3.89% plus an additional rate of 0.60%, plus the 3-month Euribor (3.76% as of June 30, 2024). 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	the Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008), the “Note”. The Note matures on June 16, 2027 and bears an annual interest rate of 3.89% plus an additional rate of 0.60%, plus the 3-month Euribor (3.76% as of June 30, 2024). 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
Accured interest expense						$ 11,540	12,215
Notes payable long term						154,994	204,322
Synthesis Facility Agreement [Member] | TFF [Member]
Outstanding principal loan balance										$ 5,629,555
Accrued expenses										524,094
Synthesis Facility Agreement [Member] | TFF [Member] | Principal Balance One [Member]
Debt instrument, accrue interest rate									5.50%
Debt intrument split, principal balance										$ 2,316,000
Synthesis Facility Agreement [Member] | TFF [Member] | Principal balance 2 [Member]
Stated interest rate										6%
Debt split, balance										$ 4,000,000
National Bank of Greece SA [Member] | June 23, 2020 [Member]
Outstanding principal loan balance						157,515	227,747
Interest rate description				The note is interest bearing from the date of receipt and is payable every three (3) months at an interest rate of 3.06% plus 3-month Euribor (3.78% as of June 30, 2024)
Repayments of debt						63,006
Debt amount received from related party				$ 611,500
Notes payable long term						$ 0	97,606
Maturity date				60 months
Senior Promissory Notes [Member] | Unaffiliated Third Party [Member]
Description of loan repayment					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)	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)
Cloudscreen Promissory Note [Member] | January 23, 2024 [Member]
Outstanding principal loan balance						$ 324,870
Repayments of debt						$ 10,830
Agreement description					The Promissory Note matures on March 25, 2025 and is interest free. This Note is being given in connection with the Closing of the ASSET PURCHASE, SALE AND TRANSFER AGREEMENT dated as of October 9, 2023, and as amended from time to time pursuant to which the Company agreed to purchase from the third-party a drug repurposing Artificial Intelligence “AI” powered platform known as “Cloudscreen®” (refer to Note 2, section “Acquisition accounting”). The principal is to be repaid in 15 equal monthly installments of €20,000 commencing on January 25, 2024	The Promissory Note matures on March 25, 2025 and is interest free. This Note is being given in connection with the Closing of the ASSET PURCHASE, SALE AND TRANSFER AGREEMENT dated as of October 9, 2023, and as amended from time to time pursuant to which the Company agreed to purchase from the third-party a drug repurposing Artificial Intelligence “AI” powered platform known as “Cloudscreen®” (refer to Note 2, section “Acquisition accounting”). The principal is to be repaid in 15 equal monthly installments of €20,000 commencing on January 25, 2024
Notes payable long term						$ 312,900	317,880
Gain from extinguishment of debt						5,850
Cloudscreen Promissory Note [Member] | July 14, 2023 [Member]
Outstanding principal loan balance						$ 989,036	1,081,532
Agreement description					the Company entered into an agreement with a third-party lender in the principal amount of €1,000,000 ($1,123,700), the “Note”. The Note matures on July 31, 2028 and bears an annual interest rate of 2.46% plus the 3-month Euribor (3.78% as of June 30, 2024). Pursuant to the agreement, there is a nine-month grace period for interest and principal repayment. The principal is to be repaid in 18 equal quarterly installments of €55,556 commencing on May 2, 2024	the Company entered into an agreement with a third-party lender in the principal amount of €1,000,000 ($1,123,700), the “Note”. The Note matures on July 31, 2028 and bears an annual interest rate of 2.46% plus the 3-month Euribor (3.78% as of June 30, 2024). Pursuant to the agreement, there is a nine-month grace period for interest and principal repayment. The principal is to be repaid in 18 equal quarterly installments of €55,556 commencing on May 2, 2024
Notes payable long term						$ 751,690	$ 897,165
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member]
Cash received upon gross sales					$ 2,750,000
Upfront cash received					$ 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
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales One [Member]
Cash received upon gross sales					$ 2,750,000
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

LEASES (Details)

LEASES (Details) - Operating Lease [Member]	Jun. 30, 2024 USD ($)
2024	$ 155,883
2025	228,541
2026	166,808
2027 and Thereafter	274,925
Total undiscounted operating lease payments	826,157
Less: Imputed interest	(100,205)
Present value of operating lease liabilities	$ 725,952

LEASES (Details 1)

LEASES (Details 1) - Finance Lease [Member]	Jun. 30, 2024 USD ($)
2024	$ 16,120
2025	13,522
2026	3,567
Total undiscounted finance lease payments	33,209
Less: Imputed interest	(1,254)
Present value of finance lease liabilities	$ 31,955

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating lease, term of agreements			The Company has various operating and finance lease agreements with terms up to 10 years
Operating lease expense			$ 364,968
Amortization of right-of-use assets			14,918	$ 67,097
Operating lease cash flows used in finance lease	$ 8,616	$ 17,353	$ 43,009	78,605
Operating lease, weighted average discount rate			6.74%
Operating lease Weighted-average remaining lease term			4 years 29 days
Finance lease, weighted average remaining lease term			1 year 2 months 8 days
Finance lease, interest expense			$ 1,307	13,709
Finance lease, weighted average discount rate			6.74%
Finance lease, amortization expense	7,429	14,918	$ 36,357	67,097
Interest expense [Member]
Finance lease, interest expense	583	1,308	7,488	13,709
General And Administrative Expense [Member]
Amortization of right-of-use assets	$ 82,263	$ 159,430	$ 67,850	$ 123,204

OTHER LIABILITIES (Details Narr

OTHER LIABILITIES (Details Narrative)	6 Months Ended
	Jun. 30, 2024 USD ($)
OTHER LIABILITIES
Tax liabilities payable	$ 2,018,525
Payroll tax related current liabilities	1,017,767
Unaudited tax	619,670
Provision for staff leaving compensation	395,698
Received prepayments from customers	$ 355,255

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 21, 2023	Jun. 26, 2022	Jul. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Description for advisory agreement			As consideration for services rendered, and successful Nasdaq listing, the Company paid $100,000. The $100,000 bonus was incurred and settled within 2022. Finally, the Consultant received a total of 10,000 shares of the Company’s common stock, 2,000 of such shares that have been previously issued pursuant to previous agreements and additional 15,258 shares that were issued on February 2, 2023, based on the amendment signed on February 1, 2023
Stock based compensation				$ 108,297		$ 216,741
Payment of additional tax						99,644
Four Third Party Consultants [Member]
Awarded shares	970,000
Awarded share value	$ 999,100
Phase 1 [Member]
Project cost		$ 838,450
Phase 2 [Member]
Project cost		$ 907,084
National Medicines Agency [Member] | General And Administrative Expense [Member]
Stock based compensation				$ 231,750	$ 0	463,500	$ 0	$ 77,250
Imposed fine						$ 16,214

STOCK OPTIONS AND WARRANTS (Det

STOCK OPTIONS AND WARRANTS (Details) - Warrants [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2022
Number of Shares Outstanding, Beginning balance	8,561,476	4,194,236
Number of Shares Outstanding, Granted	0	7,524,933
Number of Shares Outstanding, Forfeited	0	0
Number of Shares Outstanding, Exercised	0	(3,152,386)
Number of Shares Outstanding, Expired	(3,096)	(5,307)
Number of Shares Outstanding, Ending balance	8,558,380	8,561,476
Number of Shares Exercisable	8,558,380
Weighted Average Exercise Price Outstanding, Beginning balance	$ 3.91	$ 8.31
Weighted Average Exercise Price, Granted	0	1.65
Weighted Average Exercise Price Outstanding, Ending balance	3.89	$ 3.91
Weighted Average Exercise Price Exercisable, Ending balance	$ 3.89
Weighted Average Remaining Contractual Term Outstanding, Beginning	4 years 7 months 20 days	5 years 14 days
Weighted Average Remaining Contractual Term, Granted		5 years 1 month 17 days
Weighted Average Remaining Contractual Term Outstanding, Ending	4 years 7 months 17 days	4 years 7 months 21 days
Weighted Average Remaining Contractual Term Exercisable	4 years 7 months 17 days
Aggregate Intrinsic Value Outstanding, Beginning balance	$ 18,801	$ 2,562,621
Aggregate Intrinsic Value Outstanding, Ending balance	13,867	$ 18,801
Aggregate Intrinsic Value Exercisable	$ 13,867

STOCK OPTIONS AND WARRANTS (D_2

STOCK OPTIONS AND WARRANTS (Details Narrative) - USD ($)		3 Months Ended	6 Months Ended
	Apr. 03, 2023	Jun. 30, 2024	Jun. 30, 2024	Aug. 21, 2023	Sep. 19, 2022	Dec. 21, 2021
Share-based compensation expense		$ 108,297	$ 216,741
Discription of incentive stock awards			The awards are in the form of restricted stock and will vest in two parts: 50% on October 2, 2023 and 50% on October 2, 2024
Total shares of awarded	185,000
Divined rate			0%
2022 Plan [Member]
Share reserv for issuance					200,000
2023 Plan [Member] | Maximum [Member]
Share reserv for issuance				2,500,000
Warrants [Member]
Fair value of exercise prices before re-pricing			exercise prices of $125.00, $150.00 and $187.50 before re-pricing
Fair value of terms re-pricing			terms of 1.40 years, 1.97 years, 2.20 years and 2.26 years
Debt issuance price						$ 50.50
Weighted average contractual term			2 years 14 days
Warrant to purchase share		101,343	101,343
Warrant exercise price		$ 50.50	$ 50.50
Fair value of warrants immediately before the re-pricing			$ 1,915,077
Fair value of warrants immediately after re-pricing			9,548,110
Deemed dividend			$ 7,633,033
Fair value of common stock		$ 93.75	$ 93.75
Divined rate			0%
Risk free interest rate			0.41%
Number of Warrants Exercisable		8,558,380	8,558,380
Warrant otstanding		8,558,380	8,558,380
Warrant expiration date			expiration dates from October 2024 through October 2029
Warrant with no expiration		13,334	13,334

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	$ 13,206,717	$ 12,363,429	$ 27,791,190	$ 24,713,206
Greece [Member]
Revenue	12,912,561	11,582,138	27,138,133	23,496,370
Croatia [Member]
Revenue	(80)	0	19,263	0
Cyprus [Member]
Revenue	50,208	35,333	72,545	68,648
Bulgaria [Member]
Revenue	13,690	0	18,342	0
UK [Member]
Revenue	230,338	745,664	542,907	1,147,894
United States [Member]
Revenue	$ 0	$ 294	$ 0	$ 294

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Events [Member]	1 Months Ended
	Jul. 19, 2024 $ / shares
Bid price	closing bid price of $1.00 or greater per common share for ten (10) consecutive business days from July 5, 2024 to July 18, 2024
Minimum bid price	$ 1
Closing bid of shares of common stock	$ 1