SKYX Platforms (SKYX) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41276
Entity Registrant Name	SKYX PLATFORMS CORP.
Entity Central Index Key	0001598981
Entity Tax Identification Number	46-3645414
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	2855 W. McNab Road
Entity Address, City or Town	Pompano Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33069
City Area Code	(855)
Local Phone Number	759-7584
Title of 12(b) Security	Common Stock, no par value per share
Trading Symbol	SKYX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		91,852,408

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 18,085,104	$ 6,720,543
Restricted cash	2,000,000
Accounts receivable	2,481,208
Investments, available-for-sale		7,373,956
Inventory	4,823,708	1,923,540
Deferred cost of revenues	1,296,181
Prepaid expenses and other assets	55,514	311,618
Total current assets	28,741,715	16,329,657
Other assets:
Furniture and equipment, net	475,510	215,998
Restricted cash	3,611,054	2,741,054
Right of use assets, net	22,618,579	23,045,293
Intangible assets, definite life, net	9,024,550	662,802
Goodwill	15,483,678
Other assets	425,282	182,306
Total other assets	51,638,653	26,847,453
Total Assets	80,380,368	43,177,110
Current liabilities:
Accounts payable and accrued expenses	11,547,344	1,949,823
Notes payable, current	3,003,162	405,931
Operating lease liabilities, current	3,493,519	1,130,624
Royalty obligation	2,638,000	2,638,000
Consideration payable	8,836,591	950,000
Deferred revenues	1,662,815
Convertible notes, current	1,300,000	350,000
Total current liabilities	32,481,431	7,424,378
Long term liabilities:
Notes payable	151,511	4,867,004
Operating lease liabilities	21,562,019	22,758,496
Convertible notes, net	5,201,780
Total long-term liabilities	26,915,310	27,625,500
Total liabilities	59,396,741	35,049,878
Commitments and Contingent Liabilities:
Redeemable preferred stock - subject to redemption: $0 par value; 20,000,000 shares authorized; none and 880,400 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively		220,099
Stockholders’ Equity:
Common stock and additional paid-in-capital: $0 par value, 500,000,000 shares authorized; and 90,660,148 and 82,907,541shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	147,282,469	114,039,638
Accumulated deficit	(126,298,842)	(106,070,358)
Accumulated other comprehensive loss		(62,147)
Total stockholders’ equity	20,983,627	7,907,133
Non-controlling interest
Total equity	20,983,627	7,907,133
Total Liabilities and Stockholders’ Equity	$ 80,380,368	$ 43,177,110

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Temporary equity, par value	$ 0	$ 0
Temporary equity, authorized	20,000,000	20,000,000
Temporary equity,issued	0	880,400
Temporary equity,outstanding	0	880,400
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	90,660,148	82,907,541
Common stock, shares outstanding	90,660,148	82,907,541

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 14,984,055	$ 7,389	$ 14,994,080	$ 14,360
Cost of revenues	(10,288,643)	(6,122)	(10,290,111)	(11,762)
Gross income	4,695,412	1,267	4,703,969	2,598
Selling, general and administrative expenses	16,946,752	4,565,087	24,194,957	16,512,528
Loss from operations	(12,251,340)	(4,563,820)	(19,490,988)	(16,509,930)
Other income / (expense)
Interest expense, net	(1,218,732)	(81,918)	(1,939,353)	(172,421)
Gain on extinguishment of debt	1,201,857		1,201,857	178,250
Total other income (expense), net	(16,875)	(81,918)	(737,496)	5,829
Net loss	(12,268,215)	(4,645,738)	(20,228,484)	(16,504,101)
Common stock issued pursuant to antidilutive provisions				4,691,022
Preferred dividends		6,644		27,876
Non-controlling interest
Net loss attributed to common shareholders	(12,268,215)	(4,652,382)	(20,228,484)	(21,222,999)
Other comprehensive loss:	4,653		62,147
Net Comprehensive loss attributed to common stockholders	$ (12,263,562)	$ (4,652,382)	$ (20,166,337)	$ (21,222,999)
Net loss per share - basic	$ (0.14)	$ (0.06)	$ (0.24)	$ (0.22)
Net loss per share - diluted	$ (0.14)	$ (0.06)	$ (0.24)	$ (0.22)
Weighted average number of common shares outstanding during the period – basic	86,621,015	80,575,955	84,843,914	76,718,462
Weighted average number of common shares outstanding during the period -diluted	86,621,015	80,575,955	84,843,914	76,718,462

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance, beginning of period shares at Dec. 31, 2021	66,295,288
Balance, beginning of period at Dec. 31, 2021		$ 70,880,386	$ (74,269,898)		$ 7,907,133
Common stock issued pursuant to offerings, shares	1,650,000
Common stock issued pursuant to services, shares	542,949
Common stock issued pursuant to conversion of preferred stock, shares	11,376,536
Common stock issued pursuant to exercise of options and warrants	$ 853,640	282,625
Common stock issued pursuant to acquisition, shares
Common stock issued pursuant to antidilutive provisions, shares	335,073
Common stock issued pursuant to extinguishment of debt, shares
Common stock issued pursuant to stock offering		20,552,000
Common stock issued pursuant to services		11,194,200
Common stock issued pursuant to conversion of preferred stock		2,844,134
Debt discount
Common stock issued pursuant to acquisition
Common stock issued pursuant to extinguishment of debt
Common stock issued pursuant to antidilutive provisions		4,691,022	4,691,022		4,691,022
Net loss			(16,504,101)		(16,504,101)
Non-controlling interest			(35,442)
Common stock issued pursuant to antidilutive provisions		(4,691,022)	(4,691,022)		(4,691,022)
Preferred dividends			(27,876)
Other comprehensive income
Balance, ending of period shares at Jun. 30, 2022	81,053,486
Balance, ending of period at Jun. 30, 2022		110,444,367	(95,528,339)		14,916,028
Balance, beginning of period shares at Mar. 31, 2022	79,217,056
Balance, beginning of period at Mar. 31, 2022		107,595,436	(90,875,958)		7,907,133
Common stock issued pursuant to offerings, shares
Common stock issued pursuant to services, shares	94,540
Common stock issued pursuant to conversion of preferred stock, shares	1,400,000
Common stock issued pursuant to exercise of options and warrants	$ 341,890	72,625
Common stock issued pursuant to acquisition, shares
Common stock issued pursuant to antidilutive provisions, shares
Common stock issued pursuant to extinguishment of debt, shares
Common stock issued pursuant to stock offering
Common stock issued pursuant to services		2,426,306
Common stock issued pursuant to conversion of preferred stock		350,000
Debt discount
Common stock issued pursuant to acquisition
Common stock issued pursuant to extinguishment of debt
Common stock issued pursuant to antidilutive provisions
Net loss			(4,645,738)		(4,645,738)
Non-controlling interest
Common stock issued pursuant to antidilutive provisions
Preferred dividends			(6,644)
Other comprehensive income
Balance, ending of period shares at Jun. 30, 2022	81,053,486
Balance, ending of period at Jun. 30, 2022		110,444,367	(95,528,339)		14,916,028
Balance, beginning of period shares at Dec. 31, 2022	82,907,541
Balance, beginning of period at Dec. 31, 2022		114,039,638	(106,070,358)	(62,147)	7,907,133
Common stock issued pursuant to offerings, shares	2,984,308
Common stock issued pursuant to services, shares	1,689,901
Common stock issued pursuant to conversion of preferred stock, shares	580,400
Common stock issued pursuant to exercise of options and warrants
Common stock issued pursuant to acquisition, shares	1,923,285
Common stock issued pursuant to antidilutive provisions, shares
Common stock issued pursuant to extinguishment of debt, shares	574,713
Common stock issued pursuant to stock offering		7,446,274
Common stock issued pursuant to services		10,638,534
Common stock issued pursuant to conversion of preferred stock		220,099
Debt discount		5,569,978
Common stock issued pursuant to acquisition		7,327,716
Common stock issued pursuant to extinguishment of debt		2,040,231
Common stock issued pursuant to antidilutive provisions
Net loss			(20,228,484)		(20,228,484)
Non-controlling interest
Common stock issued pursuant to antidilutive provisions
Preferred dividends
Other comprehensive income				62,147
Balance, ending of period shares at Jun. 30, 2023	90,660,148
Balance, ending of period at Jun. 30, 2023		147,282,469	(126,298,842)		20,983,627
Balance, beginning of period shares at Mar. 31, 2023	83,189,729
Balance, beginning of period at Mar. 31, 2023		122,573,318	(114,040,627)	(4,653)	20,983,627
Common stock issued pursuant to offerings, shares	2,984,308
Common stock issued pursuant to services, shares	1,407,713
Common stock issued pursuant to conversion of preferred stock, shares	580,400
Common stock issued pursuant to exercise of options and warrants
Common stock issued pursuant to acquisition, shares	1,923,285
Common stock issued pursuant to antidilutive provisions, shares
Common stock issued pursuant to extinguishment of debt, shares	574,713
Common stock issued pursuant to stock offering		7,446,274
Common stock issued pursuant to services		7,674,832
Common stock issued pursuant to conversion of preferred stock		220,099
Debt discount
Common stock issued pursuant to acquisition		7,327,716
Common stock issued pursuant to extinguishment of debt		2,040,231
Common stock issued pursuant to antidilutive provisions
Net loss			(12,268,215)		(12,268,215)
Non-controlling interest
Common stock issued pursuant to antidilutive provisions
Preferred dividends
Other comprehensive income				4,653
Balance, ending of period shares at Jun. 30, 2023	90,660,148
Balance, ending of period at Jun. 30, 2023		$ 147,282,469	$ (126,298,842)		$ 20,983,627

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (20,228,484)	$ (16,504,101)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,031,732	46,988
Gain on forgiveness of debt	(1,201,857)	(178,250)
Amortization of debt discount	520,349
Share-based payments	10,638,534	11,194,200
Change in operating assets and liabilities:
Inventory	(1,114,063)	(334,543)
Accounts receivable	40,551
Prepaid expenses and other assets	449,358	(979,607)
Deferred charges	186,900
Deferred revenues	(266,218)
Operating lease liabilities	(199,417)
Accretion operating lease liabilities	798,229
Other assets		(117,234)
Royalty obligation		(600,000)
Accounts payable and accrued expenses	2,700,311	1,269,243
Net cash used in operating activities	(6,644,075)	(6,203,304)
Cash flows from investing activities:
Purchase of debt securities	(136,033)
Proceeds from disposition of debt securities	7,572,136
Acquisition, net of cash acquired	(4,206,200)
Purchase of property and equipment		(262,748)
Payment of patent costs and other intangibles		(82,608)
Net cash provided by (used in) investing activities	3,229,903	(345,356)
Cash flows from financing activities:
Proceeds from issuance of common stock- offerings	7,826,045	23,100,000
Placement costs	(379,772)	(2,556,000)
Proceeds from exercise of options and warrants		290,625
Proceeds from line of credit	2,000,000
Proceeds from issuance of convertible notes	10,350,000
Dividends paid		(27,876)
Principal repayments of notes payable	(2,147,900)	(1,664)
Net cash provided by financing activities	17,648,373	20,805,085
Increase in cash, cash equivalents and restricted cash	14,234,201	14,256,425
Cash, cash equivalents, and restricted cash at beginning of period	9,461,957	10,426,249
Cash, cash equivalents and restricted cash at end of period	23,696,158	24,682,674
Supplementary disclosure of non-cash financing activities:
Preferred stock conversion to common	220,099	2,844,134
Assets acquired excluding identifiable intangible assets and goodwill and cash	7,090,094
Liabilities assumed and consideration payable	19,439,856
Identifiable intangible assets and goodwill, net of cash outlay	19,677,478
Debt discount	5,569,978
Fair value of shares issued pursuant to antidilutive provisions		4,691,022
Fair value of shares issued pursuant to extinguishment of debt	2,040,231
Cash paid during the period for:
Interest	$ 437,995	$ 281,141

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 ORGANIZATION AND NATURE OF OPERATIONS SKYX Platforms Corp., a corporation (the “Company”), was incorporated in Florida in May 2004. The Company maintains offices in Johns Creek, Georgia, Miami and Pompano Beach, Florida, New York City, and Guangdong Province, China. The Company has a series of advanced-safe smart platform technologies. The Company’s first-generation technologies enable light fixtures, ceiling fans and other electrically wired products to be installed safely and plugged-in into a ceiling’s electrical outlet box within seconds, and without the need to touch hazardous wires. The plug and play technology method is a universal power-plug device that has a matching receptacle that is simply connected to the electrical outlet box on the ceiling, enabling a safe and quick plug and play installation of light fixtures and ceiling fans in just seconds. The plug and play power-plug technology eliminates the need to touch hazardous electrical wires while installing light fixtures, ceiling fans and other hard wired electrical products. In recent years, the Company has expanded the capabilities of its power-plug product, to include advanced safe and quick universal installation methods, as well as advanced smart capabilities. The smart features include control of light fixtures and ceiling fans by the SkyHome App, through WIFI, Bluetooth Low Energy and voice control. It allows scheduling, energy savings eco mode, dimming, back-up emergency light, night light, light color changing and much more. The Company’s second-generation technology is an all-in-one safe and smart advanced platform that is designed to enhance all-around safety and lifestyle of homes and other buildings.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements as of June 30, 2023 and for the three months ended June 30, 2023 and 2022 are unaudited. The results of operations for the interim periods are not necessarily indicative of the results of operations for the respective fiscal years. The consolidated statement of financial condition at December 31, 2022 has been derived from the audited financial statements at that date but does not include all the information and notes required by GAAP for complete financial statement presentation. The accompanying consolidated financial information should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 for additional disclosures and accounting policies. Reclassifications For comparability, reclassifications of certain prior-year balances were made to conform with current-year presentations, such as certain expenses previously included in cost of revenues and reclassified as sales, general, and administrative expenses in 2022. Basis of Consolidation The unaudited consolidated financial statements include the results of the Company and one of its subsidiaries, SQL Lighting and Fans LLC from January 1, 2022 and the results from its remaining subsidiaries, Belami, Inc., BEC, CA 1, Inc., BEC CA 2, LLC, Luna BEC, Inc., and Confero Group LLC from April 28 to June 30, 2023. All intercompany balances and transactions have been eliminated in consolidation. Business Combination The Company accounts for its business acquisitions under the acquisition method of accounting. This method requires recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of the assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to the business combination are included prospectively beginning with the date of acquisition and transaction costs and transaction costs related to business combinations are recorded within selling, general, and administrative expenses. The Company acquired the outstanding units of Belami, Inc (“Belami”) and its subsidiaries on April 28, 2023. Belami is an online retailer and e-commerce provider specializing in home lighting, ceiling fans, and other home furnishings. The initial allocation of purchase price is subject to adjustment through April 2024. The Company is in initial discussion with the sellers to determine certain assets acquired and assumed liabilities which are the basis of adjustments to retained earnings and working capital. The initial allocation of the purchase price is as follows: SCHEDULE OF INITIAL ALLOCATION OF THE PURCHASE PRICE Assets acquired excluding identifiable intangible assets and goodwill $ 7,090,094 Customer relationships 4,500,000 E-commerce technology platforms 3,900,000 Goodwill 15,252,420 Assumed liabilities (10,462,590 ) Total Assets Acquired $ 20,271,916 Consideration: Cash outlay, net of cash acquired $ 4,206,200 Consideration payable 8,738,000 Shares of common stock issued at initial closing 7,327,716 Total purchase price $ 20,271,916 Consideration payable primarily consists of the fair value of cash and shares of the Company’s stock amounting to $ 3.2 5.5 750,000 6 The goodwill recognized, none of which is deductible for income tax purposes, is attributable to the assembled workforce of Belami and to expected synergies and other benefits that the Company believes will result from combining its operations with Belami’s. The intangible assets recognized are primarily attributable to expected increased margins that the Company believes will result from Belami’s existing customer relationships and increased margins from the e-commerce technology platforms Belami has developed over the years. Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid securities with original maturities of three months or less when acquired to be cash equivalents. At June 30, 2023 and December 31, 2022, the Company’s cash composition was as follows: SCHEDULE OF CASH EQUIVALENTS AND RESTRICTED CASH June 30, 2023 December 31, 2022 Cash and cash equivalents $ 18,085,104 $ 6,720,543 Restricted cash 5,611,054 2,741,054 Total cash, cash equivalents and restricted cash $ 23,696,158 $ 9,461,597 Restricted Assets The Company issued a letter of credit of $ 2.7 2.7 750,000 2.0 Customer Contracts Balances Accounts receivable are recorded in the period when the right to receive payment or other consideration becomes unconditional. Accounts receivable are recorded at the invoiced amount and are not interest bearing. The Company maintains an allowance for doubtful accounts based upon an estimate of probable credit losses in existing accounts receivable. The majority of the Company’s accounts receivable are from third-party payers and are paid within a few days from the order date. The Company determines the allowance based upon individual accounts when information indicates the customers may have an inability to meet their financial obligations, historical experience, and currently available evidence. As of June 30, 2023, and December 31, 2022, the Company’s allowance for doubtful accounts was $ 37,088 0 393,820 0 The Company defers the revenue related to undelivered customer orders for which it was paid or has a right to be paid at each measurement date. Such amounts are recognized as deferred revenues in the accompanying unaudited balance sheet. As of June 30, 2023, the deferred revenues amounted to $ 1,662,815 no The costs associated with such deferred revenues are recognized as deferred charges in the accompanying unaudited balance sheet. Such charges include the carrying value of related inventory, freight, and sales charges. The deferred charges amounted to $ 1,296,181 no Inventory Inventories are stated at the lower of cost, determined on the first-in, first-out (FIFO) method. Cost principally consists of the purchase price (adjusted for lower of cost or market), customs, duties, and freight. The Company periodically reviews historical sales activity to determine potentially obsolete items and evaluates the impact of any anticipated changes in future demand. SCHEDULE OF INVENTORY June 30, 2023 December 31, 2022 Inventory, component parts $ 2,269,355 $ 1,923,540 Inventory, finished goods 2,554,353 — Total inventory $ 4,823,708 $ 1,923,540 Intangible Assets Intangible assets were recorded in connection with the acquisition of Belami. Intangible assets with finite lives, which consist of customer relationships and e-commerce technology platforms, are being amortized over their estimated useful lives on a straight-line basis. Such intangible assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining estimated useful life through undiscounted estimated future cash flows. If undiscounted estimated future cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value based on estimated future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Estimated future cash flows are based on trends of historical performance and the Company’s estimate of future performance, considering existing and anticipated competitive and economic conditions. Goodwill Goodwill, which was recorded in connection with the acquisition of Belami, is not subject to amortization and is tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may be impaired. Goodwill represents the excess of the purchase price of Belami over the fair value of its identifiable net assets acquired. Goodwill is tested for impairment at the reporting unit level. Fair value is typically based upon estimated future cash flows discounted at a rate commensurate with the risk involved or market-based comparables. If the carrying amount of the reporting unit’s net assets exceeds its fair value, then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over its implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. Accounting guidance on the testing of goodwill for impairment allows entities testing goodwill for impairment the option of performing a qualitative assessment to determine the likelihood of goodwill impairment and whether it is necessary to perform such two-step impairment test. The initial carrying value of goodwill associated with the Belami acquisition may vary during the first year of initial purchase (through April 2024) if the carrying value of the assets acquired or assumed liabilities or the fair value of the shares issuable in April 2024 varies from the initial allocation of asset performed this quarter. Revenue Recognition The Company currently generates revenues substantially from home lighting and ceiling fans through its family of internet sites and marketplaces. A substantial portion of the Company’s customers’ orders are made and paid contemporaneously by credit card and shipped through third-party delivery providers. The Company recognizes revenues once it concludes that the control of the product is transferred to the customer, which is upon delivery. The Company records reductions to revenue for estimated customer sales returns and replacements, net of sales tax. The Company receives rebate and cooperative allowances based on a percentage of periodic purchases from certain vendors. These vendor considerations are reflected as a reduction of costs of revenues. The vendor considerations, the rights of returns and replacements are based upon estimates that are determined by historical experience, contractual terms, and current market conditions. The primary factors affecting the Company’s accrual for estimated customer rights of returns include estimated customer return rates as well as the number of units shipped that have a right of return that have not expired as of the measurement date. Loss Per Share Basic net earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company uses the “treasury stock” method to determine whether there is a dilutive effect of outstanding convertible debt, option, and warrant contracts. For the three months ended June 30, 2023 and 2022, the Company recognized net loss and a dilutive net loss, and the effect of considering any common stock equivalents would have been antidilutive for the period. Therefore, a separate computation of diluted earnings (loss) per share is not presented for the periods presented. The Company had the following anti-dilutive common stock equivalents at June 30, 2023 and 2022: SCHEDULE OF EARNING (LOSS) PER SHARE June 30, 2023 June 30, 2022 Stock warrants 2,063,522 939,895 Stock options 34,233,900 33,124,982 Convertible notes 3,536,668 86,668 Preferred stock - 1,880,400 Total 39,834,090 36,031,945 Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on its consolidated financial statements. Change in Accounting Principles Historically, the Company recognized its revenues of products shipped by third-party providers upon shipment. During the second quarter of 2023, the Company believes that it is preferable to recognize the revenues of products shipped by such third-party providers upon delivery. This revenue recognition method is consistent with the method used by Belami. The change in accounting principle does not significantly impact on the revenues historically recorded by the Company.

FURNITURE AND EQUIPMENT

FURNITURE AND EQUIPMENT	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
FURNITURE AND EQUIPMENT	NOTE 3 FURNITURE AND EQUIPMENT Furniture and equipment consisted of the following: SCHEDULE OF FURNITURE AND EQUIPMENT June 30, 2023 December 31, 2022 Machinery and equipment $ 67,419 $ 67,419 Computer equipment 6,846 6,846 Furniture and fixtures 324,977 36,059 Tooling and production 548,642 534,204 Leasehold improvements 30,553 30,553 Total 978,437 675,081 Less: accumulated depreciation (502,927 ) (459,083 ) Total, net $ 475,510 $ 215,998 Depreciation expense amounted to $ 64,494 9,505

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 4 INTANGIBLE ASSETS The Company’s definite-lived intangible assets were as follows: SCHEDULE OF INTANGIBLE ASSETS June 30, 2023 December 31, 2022 Useful life Carrying Value Accumulated Amortization Net carrying value Carrying Value Accumulated Amortization Net carrying value Customer relationships 7 $ 4,500,000 $ (107,143 ) $ 4,392,857 $ - $ - $ - E-commerce technology platforms 4 3,900,000 (162,500 ) 3,737,500 - - - Patents and other 20 1,115,120 (220,927 ) 894,193 869,822 (207,020 ) 662,802 $ 9,515,120 $ (490,570 ) $ 9,024,550 $ 869,822 $ (207,020 ) $ 662,802 The amortization expense of intangible assets was $ 283,550 12,395 The following table sets forth the estimated amortization expense for the following five years: SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE Twelve months ended June 30,2024 1,673,613 2025 1,673,613 2026 1,673,613 2027 1,511,113 2028 698,613

DEBTS

DEBTS	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
DEBTS	NOTE 5 DEBTS The following table presents the details of the principal outstanding: SCHEDULE OF DEBT TABLE June 30, 2023 December 31, 2022 APR June 30, 2023 % Maturity Collateral Notes payable $ - $ 5,115,000 N/A September 2026 Substantially all company assets Line of credit (a) 2,000,000 - 8.25 May 2024 Cash Note payable 1,000,000 - 4.86 July 2023 - Convertible Notes (b) 11,650,000 1,300,000 6.00 10.00 September 2023-March 2026 Substantially all company assets PPP Loans (c) 6,156 7,835 1.00 April 2025 Economic Impact Disaster loan 148,517 150,000 3.75 November 2022 Substantially all company assets Total $ 14,804,673 $ 6,572,935 Unamortized debt discount $ (5,148,220 ) $ - Debt, net of Unamortized debt Discount $ 9,656,453 $ 6,572,935 SCHEDULE OF INTEREST EXPENSE For the six-month period ended June 30, 2023 2022 Interest expense associated with debt 1,214,920 172,421 As of June 30, 2023, the expected future principal payments for the Company’s debt are due as follows: SCHEDULE OF FUTURE PRINCIPAL PAYMENTS Remainder of 2023 2,303,162 2024 2,006,040 2025 3,915 2026 10,352,915 2027 4,015 2028 and thereafter 134,626 Total $ 14,804,673 (a) The unpaid principal bears annual interest at the Wall Street Journal prime rate. (b) Included in Convertible Notes are loans provided to the Company from two directors, an officer and two investors. The notes each have the following terms: three-year subordinated convertible promissory note of principal face amounts. Subject to other customary terms, the Convertible Notes mature between September 2023 and January 2024 and bear interest at an annual rate of 6 15 All convertible notes are convertible at a price ranging between $ 3 15 During the six-month period ended June 30, 2023, the Company issued convertible promissory notes for $ 10.4 1,391,667 3 5.6 278,499 (c) The Small Business Administration forgave approximately $ 178,000

OPERATING LEASE LIABILITIES

OPERATING LEASE LIABILITIES	6 Months Ended
	Jun. 30, 2023
Operating Lease Liabilities
OPERATING LEASE LIABILITIES	NOTE 6 OPERATING LEASE LIABILITIES In April 2022, the Company entered a 58-month lease related to certain office and showroom space pursuant to a sublease that expires in February 2027. The Company recognized a right-of-use asset and a liability of $ 1,428,764 In September 2022, the Company entered a 124-month lease related to its future headquarters offices and showrooms space. The Company recognized a right-of-use asset and a liability of $ 22.2 2.7 The following table outlines the total lease cost for the Company’s operating leases as well as weighted average information for these leases as of June 30, 2023: SCHEDULE OF LEASE COST OPERATING LEASE June 30, 2023 Lease costs: Cash paid for operating lease liabilities $ 207,130 Right-of-use assets obtained in exchange for new operating lease obligations 22,618,579 Fixed rent payment $ 286,401 Lease – Depreciation expense $ 426,714 June 30, 2023 Other information: Weighted-average discount rate 6.41 % Weighted-average remaining lease term (in months) 108 SCHEDULE OF MINIMUM LEASE OBLIGATION Minimum Lease obligation 2024 $ 3,493,519 2025 1,898,428 2026 2,119,073 2027 2,357,033 2028 and thereafter 15,187,485 Total $ 25,055,538

ROYALTY OBLIGATIONS

ROYALTY OBLIGATIONS	6 Months Ended
	Jun. 30, 2023
Royalty Obligations
ROYALTY OBLIGATIONS	NOTE 7 ROYALTY OBLIGATIONS The Company has a license agreement with General Electric (“GE”) which provides, among other things, for rights to market certain of the Company’s products displaying the GE brand in consideration of royalty payments to GE. The Company cannot assign the agreement or sublicense the stated rights. The agreement imposes certain manufacturing and quality control conditions to continue to use the GE brand. The agreement expires in November 2023. In the event the Company receives significant funding rounds of at least $ 50 Variable royalty payments are due quarterly, using a December 1 – November 30 contract year and based upon the prior quarter’s sales. Royalty payments will be paid from sales of GE branded product subject to the following repayment schedule: SCHEDULE OF ROYALTY OBLIGATIONS Net Sales in Contract Year Percentage of Contract Year Net Sales owed to GE $ 0 50,000,000 7 % $ 50,000,001 100,000,000 6 % $ 100,000,000 5 % As of June 30, 2023 and December 31, 2022, the outstanding balance of the aggregate Minimum Payment was $ 2,638,000

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 8 ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accrued expenses consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES June 30, 2023 December 31, 2022 Accrued interest, convertible notes $ 512,466 $ 104,735 Trade payables 10,576,562 1,369,701 Accrued compensation 458,316 475,417 Total $ 11,547,344 $ 1,949,823

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 RELATED PARTY TRANSACTIONS Convertible Notes Due to Related Parties Convertible notes due to related parties represent amounts provided to the Company from two directors and the Chief Executive Officer of the Company. The outstanding principal on the convertible promissory notes, associated with related parties was $ 950,000 219,972 104,375 Initial Public Offering The Company issued 455,353 6,374,942 The Company issued 95,386

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 10 STOCKHOLDERS’ EQUITY Common Stock The Company issued the following common stock during the six months ended June 30, 2023 and 2022: SCHEDULE OF COMMON STOCK Transaction Type Shares Issued Valuation $ Range of Value 2023 Equity Transactions Common stock issued, pursuant to services provided 1,689,901 10,638,534 $ 2.67 3.49 Common stock issued pursuant to stock at the market offering, gross 2,984,308 7,826,045 2.55 3.25 Common stock issued pursuant to conversion of preferred stock 580,400 220,099 0.25 Common stock issued pursuant to acquisition 1,923,285 7,327,716 3.81 Common stock issued pursuant to extinguishment of debt 574,713 2,040,231 3.55 Transaction Type Shares Issued Valuation $ (Issued) Range of Value Per Share 2022 Equity Transactions Common stock issued per exercise of options 435,890 $ 282,625 $ 0.10 14.0 Common stock issued per exercise of warrants, cashless 416,750 — — Common stock issued, pursuant to services provided 542,949 6,167,226 2.0 14.0 Conversion of preferred stock 11,376,536 2,844,134 0.25 Issuance of common stock pursuant to offering, net 1,650,000 23,100,000 14.0 Issuance of common stock, pursuant to anti-dilutive provisions 335,073 4,691,022 14.0 The Company issued 335,073 The Company satisfied its obligations under a note payable, initially maturing in September 2026, amounting to $ 6.2 2 574,713 1,201,857 Preferred Stock The Series A Preferred Stock was convertible at the holder’s option. The Company could repurchase shares of the Preferred Stock for $ 3.50 0.25 27,876 Holders of preferred stock converted 880,400 9,976,536 no Restricted Stock A summary of the Company’s non-vested restricted stock units during the six-month ended June 30, 2023 and 2022 are as follows : SCHEDULE OF NON-VESTED RESTRICTED STOCK Shares Weighted Average Grant Due Fair Value Non-vested restricted stock units, January 1, 2023 $ 2,516,461 $ 8.39 Granted 2,955,900 3.08 Vested (1,689,901 ) 5.27 Forfeited (227,891 ) 10.71 Non-Vested restricted stock units, June 30, 2023 3,554,569 5.27 Non-vested restricted stock units, January 1, 2022 770,500 3.31 Granted 1,641,393 12.03 Vested (453,893 ) 8.44 Forfeited - - Non-vested restricted stock units on June 30, 2022 1,958,000 9.43 One RSU and RSA gives the right to one share of the Company’s common stock. RSU and RSAs that vest based on service and performance are measured based on the fair values of the underlying stock on the date of grant. The Company used a Lattice model to determine the fair value of the RSU with a market condition. Compensation with respect to RSU and RSA awards is expensed on a straight-line basis over the vesting period. Stock Options The following is a summary of the Company’s stock option activity during the six-month periods ended June 30, 2023 and 2022: SCHEDULE OF STOCK OPTION ACTIVITY Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding, January 1, 2023 33,289,250 $ 7.7 - $ 6,472,400 Exercised (481,250 ) 1.34 –– $ –– Awards Granted in Period 1,370,150 3.3 - - Forfeited (1,693,750 ) - Awards expired (425,500 ) $ 4.0 - - - - - Outstanding, June 30, 2023 34,233,900 $ 7.6 3.15 $ 6,472,400 Exercisable, June 30, 2023 12,847,747 $ 4.4 2.47 $ 6,472,400 Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding, January 1, 2022 21,927,182 $ 3.36 4.07 $ 5,990,800 Exercised (481,250 ) 1.34 –– $ –– Granted 13,372,500 11.92 –– Forfeited (1,693,750 ) - Outstanding, June 30, 2022 33,124,982 $ 7.70 3.86 $ 2,802,488 Exercisable, June 30, 2022 23,313,995 $ 5.96 3.34 $ 2,952,013 Warrants Issued The following is a summary of the Company’s warrant activity during the three-month periods ended June 30, 2023 and 2022: SCHEDULE OF WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Balance, January 1, 2023 671,855 $ 11.5 Issued 1,391,667 3.0 Exercised — — Forfeited — — Balance, June 30, 2023 2,063,522 $ 5.76 Number of Warrants Weighted Average Exercise Price Balance, January 1, 2022 2,127,895 $ 5.4 Exercised (535,000 ) — Issued 132,000 18.2 Forfeited (785,000 ) Balance, June 30, 2022 939,895 $ 9.66 Assumptions- Fair Value of Warrants and Options The Company issued options in connection for services during the six-month period ended June 30, 2023 and June 30, 2022. The Company issued warrants in connection with certain convertible promissory notes during the six-month period ended June 30, 2023, which are considered inducements to enter in debt transactions and are recognized as debt discount at fair value. The following table summarizes the range of the Black Scholes pricing model assumptions used by the Company to value certain warrants issued during the six-month period ended June 30, 2023 and options granted during the six-month period ended June 30, 2023 and 2022: SCHEDULE OF OPTIONS GRANTED UNDER BLACK SCHOLES PRICING MODEL ASSUMPTIONS June 30, 2023 June 30, 2022 Range Range Stock price $ 3.74 3.84 $ 2.0 14.0 Exercise price $ 3.74 3.84 $ 2.0 14.0 Expected life (in years) 3.5 5 5 Volatility 48 54 % 40 54 % Risk-fee interest rate 3.51 5.02 % 1.37 1.96 % Dividend yield — — The Company cannot use its historical volatility as expected volatility because there is not enough liquidity in the trades of common stock during a term comparable to the expected term of stock option issued. The Company relies on the expected volatility of comparable publicly traded companies within its industry sector, which is deemed more relevant, to compute its expected volatility. Unamortized future option expense was $ 39.1 3.6 Share-based payments amounted to $ 10,638,534 11,194,200

CONCENTRATIONS OF RISKS

CONCENTRATIONS OF RISKS	6 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF RISKS	NOTE 11 CONCENTRATIONS OF RISKS Major Customers The Company had no customers whose revenue individually represented 10% or more of the Company’s total revenue. The Company had one third-party payor accounts receivable balance representing 24 Liquidity The Company’s cash and cash equivalents are held primarily with two financial institutions. The Company has deposits which exceed the amount insured by the FDIC. To reduce the risk associated with the failure of such counterparties, the Company periodically evaluates the credit quality of the financial institutions in which it holds deposits. Product and Geographic Markets The Company generates its income primarily from its lighting and heating products sold primarily in the United States.

PROFORMA FINANCIAL STATEMENTS (

PROFORMA FINANCIAL STATEMENTS (unaudited)	6 Months Ended
	Jun. 30, 2023
Proforma Financial Statements
PROFORMA FINANCIAL STATEMENTS (unaudited)	NOTE 12 PROFORMA FINANCIAL STATEMENTS (unaudited) The following pro forma consolidated results of operations have been prepared as if the acquisition occurred on January 1, 2022: SCHEDULE OF PROFORMA CONSOLIDATED RESULTS OF OPERATION 2023 2022 2023 2022 Three-month period ended June 30, Six-month period ended June 30, 2023 2022 2023 2022 Revenues $ 20,416,569 $ 22,823,349 $ 39,031,541 $ 45,654,773 Net loss $ (10,362,183 ) $ (4,984,413 ) $ (18,802,429 ) $ (16,852,888 ) Basic and diluted loss per share $ ( 0.11 ) $ ( 0.06 ) $ ( 0.20 ) $ ( 0.20 ) Weighted average number of shares outstanding- basic and diluted 93,874,115 87,829,055 92,097,014 83,971,562 These pro forma amounts have been calculated after applying the Company’s accounting policies and adjusting the results to reflect, among other things, 1) additional amortization that would have been charged assuming the fair value adjustments to amortizable intangible assets had been applied, 2) the shares issued and issuable by the Company to acquire Belami, 3) fair value of the initial grant and options to Belami employees, and 4) the increase in interest expense related to the issuance of convertible notes payable, including amortization of debt discount. Furthermore, it excludes transaction costs related to the Belami acquisition. These pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that would have resulted had the acquisition occurred on the date indicated or that may result in the future.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 13 SUBSEQUENT EVENTS Management has evaluated subsequent events through August 9, 2023, which is the date the consolidated financial statements were available to be issued. There were no subsequent events that required adjustment to or disclosure in the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements as of June 30, 2023 and for the three months ended June 30, 2023 and 2022 are unaudited. The results of operations for the interim periods are not necessarily indicative of the results of operations for the respective fiscal years. The consolidated statement of financial condition at December 31, 2022 has been derived from the audited financial statements at that date but does not include all the information and notes required by GAAP for complete financial statement presentation. The accompanying consolidated financial information should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 for additional disclosures and accounting policies.
Reclassifications	Reclassifications For comparability, reclassifications of certain prior-year balances were made to conform with current-year presentations, such as certain expenses previously included in cost of revenues and reclassified as sales, general, and administrative expenses in 2022.
Basis of Consolidation	Basis of Consolidation The unaudited consolidated financial statements include the results of the Company and one of its subsidiaries, SQL Lighting and Fans LLC from January 1, 2022 and the results from its remaining subsidiaries, Belami, Inc., BEC, CA 1, Inc., BEC CA 2, LLC, Luna BEC, Inc., and Confero Group LLC from April 28 to June 30, 2023. All intercompany balances and transactions have been eliminated in consolidation.
Business Combination	Business Combination The Company accounts for its business acquisitions under the acquisition method of accounting. This method requires recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of the assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to the business combination are included prospectively beginning with the date of acquisition and transaction costs and transaction costs related to business combinations are recorded within selling, general, and administrative expenses. The Company acquired the outstanding units of Belami, Inc (“Belami”) and its subsidiaries on April 28, 2023. Belami is an online retailer and e-commerce provider specializing in home lighting, ceiling fans, and other home furnishings. The initial allocation of purchase price is subject to adjustment through April 2024. The Company is in initial discussion with the sellers to determine certain assets acquired and assumed liabilities which are the basis of adjustments to retained earnings and working capital. The initial allocation of the purchase price is as follows: SCHEDULE OF INITIAL ALLOCATION OF THE PURCHASE PRICE Assets acquired excluding identifiable intangible assets and goodwill $ 7,090,094 Customer relationships 4,500,000 E-commerce technology platforms 3,900,000 Goodwill 15,252,420 Assumed liabilities (10,462,590 ) Total Assets Acquired $ 20,271,916 Consideration: Cash outlay, net of cash acquired $ 4,206,200 Consideration payable 8,738,000 Shares of common stock issued at initial closing 7,327,716 Total purchase price $ 20,271,916 Consideration payable primarily consists of the fair value of cash and shares of the Company’s stock amounting to $ 3.2 5.5 750,000 6 The goodwill recognized, none of which is deductible for income tax purposes, is attributable to the assembled workforce of Belami and to expected synergies and other benefits that the Company believes will result from combining its operations with Belami’s. The intangible assets recognized are primarily attributable to expected increased margins that the Company believes will result from Belami’s existing customer relationships and increased margins from the e-commerce technology platforms Belami has developed over the years.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid securities with original maturities of three months or less when acquired to be cash equivalents. At June 30, 2023 and December 31, 2022, the Company’s cash composition was as follows: SCHEDULE OF CASH EQUIVALENTS AND RESTRICTED CASH June 30, 2023 December 31, 2022 Cash and cash equivalents $ 18,085,104 $ 6,720,543 Restricted cash 5,611,054 2,741,054 Total cash, cash equivalents and restricted cash $ 23,696,158 $ 9,461,597
Restricted Assets	Restricted Assets The Company issued a letter of credit of $ 2.7 2.7 750,000 2.0
Customer Contracts Balances	Customer Contracts Balances Accounts receivable are recorded in the period when the right to receive payment or other consideration becomes unconditional. Accounts receivable are recorded at the invoiced amount and are not interest bearing. The Company maintains an allowance for doubtful accounts based upon an estimate of probable credit losses in existing accounts receivable. The majority of the Company’s accounts receivable are from third-party payers and are paid within a few days from the order date. The Company determines the allowance based upon individual accounts when information indicates the customers may have an inability to meet their financial obligations, historical experience, and currently available evidence. As of June 30, 2023, and December 31, 2022, the Company’s allowance for doubtful accounts was $ 37,088 0 393,820 0 The Company defers the revenue related to undelivered customer orders for which it was paid or has a right to be paid at each measurement date. Such amounts are recognized as deferred revenues in the accompanying unaudited balance sheet. As of June 30, 2023, the deferred revenues amounted to $ 1,662,815 no The costs associated with such deferred revenues are recognized as deferred charges in the accompanying unaudited balance sheet. Such charges include the carrying value of related inventory, freight, and sales charges. The deferred charges amounted to $ 1,296,181 no
Inventory	Inventory Inventories are stated at the lower of cost, determined on the first-in, first-out (FIFO) method. Cost principally consists of the purchase price (adjusted for lower of cost or market), customs, duties, and freight. The Company periodically reviews historical sales activity to determine potentially obsolete items and evaluates the impact of any anticipated changes in future demand. SCHEDULE OF INVENTORY June 30, 2023 December 31, 2022 Inventory, component parts $ 2,269,355 $ 1,923,540 Inventory, finished goods 2,554,353 — Total inventory $ 4,823,708 $ 1,923,540
Intangible Assets	Intangible Assets Intangible assets were recorded in connection with the acquisition of Belami. Intangible assets with finite lives, which consist of customer relationships and e-commerce technology platforms, are being amortized over their estimated useful lives on a straight-line basis. Such intangible assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining estimated useful life through undiscounted estimated future cash flows. If undiscounted estimated future cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value based on estimated future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Estimated future cash flows are based on trends of historical performance and the Company’s estimate of future performance, considering existing and anticipated competitive and economic conditions.
Goodwill	Goodwill Goodwill, which was recorded in connection with the acquisition of Belami, is not subject to amortization and is tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may be impaired. Goodwill represents the excess of the purchase price of Belami over the fair value of its identifiable net assets acquired. Goodwill is tested for impairment at the reporting unit level. Fair value is typically based upon estimated future cash flows discounted at a rate commensurate with the risk involved or market-based comparables. If the carrying amount of the reporting unit’s net assets exceeds its fair value, then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over its implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. Accounting guidance on the testing of goodwill for impairment allows entities testing goodwill for impairment the option of performing a qualitative assessment to determine the likelihood of goodwill impairment and whether it is necessary to perform such two-step impairment test. The initial carrying value of goodwill associated with the Belami acquisition may vary during the first year of initial purchase (through April 2024) if the carrying value of the assets acquired or assumed liabilities or the fair value of the shares issuable in April 2024 varies from the initial allocation of asset performed this quarter.
Revenue Recognition	Revenue Recognition The Company currently generates revenues substantially from home lighting and ceiling fans through its family of internet sites and marketplaces. A substantial portion of the Company’s customers’ orders are made and paid contemporaneously by credit card and shipped through third-party delivery providers. The Company recognizes revenues once it concludes that the control of the product is transferred to the customer, which is upon delivery. The Company records reductions to revenue for estimated customer sales returns and replacements, net of sales tax. The Company receives rebate and cooperative allowances based on a percentage of periodic purchases from certain vendors. These vendor considerations are reflected as a reduction of costs of revenues. The vendor considerations, the rights of returns and replacements are based upon estimates that are determined by historical experience, contractual terms, and current market conditions. The primary factors affecting the Company’s accrual for estimated customer rights of returns include estimated customer return rates as well as the number of units shipped that have a right of return that have not expired as of the measurement date.
Loss Per Share	Loss Per Share Basic net earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company uses the “treasury stock” method to determine whether there is a dilutive effect of outstanding convertible debt, option, and warrant contracts. For the three months ended June 30, 2023 and 2022, the Company recognized net loss and a dilutive net loss, and the effect of considering any common stock equivalents would have been antidilutive for the period. Therefore, a separate computation of diluted earnings (loss) per share is not presented for the periods presented. The Company had the following anti-dilutive common stock equivalents at June 30, 2023 and 2022: SCHEDULE OF EARNING (LOSS) PER SHARE June 30, 2023 June 30, 2022 Stock warrants 2,063,522 939,895 Stock options 34,233,900 33,124,982 Convertible notes 3,536,668 86,668 Preferred stock - 1,880,400 Total 39,834,090 36,031,945
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on its consolidated financial statements.
Change in Accounting Principles	Change in Accounting Principles Historically, the Company recognized its revenues of products shipped by third-party providers upon shipment. During the second quarter of 2023, the Company believes that it is preferable to recognize the revenues of products shipped by such third-party providers upon delivery. This revenue recognition method is consistent with the method used by Belami. The change in accounting principle does not significantly impact on the revenues historically recorded by the Company.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SCHEDULE OF INITIAL ALLOCATION OF THE PURCHASE PRICE	SCHEDULE OF INITIAL ALLOCATION OF THE PURCHASE PRICE Assets acquired excluding identifiable intangible assets and goodwill $ 7,090,094 Customer relationships 4,500,000 E-commerce technology platforms 3,900,000 Goodwill 15,252,420 Assumed liabilities (10,462,590 ) Total Assets Acquired $ 20,271,916 Consideration: Cash outlay, net of cash acquired $ 4,206,200 Consideration payable 8,738,000 Shares of common stock issued at initial closing 7,327,716 Total purchase price $ 20,271,916
SCHEDULE OF CASH EQUIVALENTS AND RESTRICTED CASH	The Company considers all highly liquid securities with original maturities of three months or less when acquired to be cash equivalents. At June 30, 2023 and December 31, 2022, the Company’s cash composition was as follows: SCHEDULE OF CASH EQUIVALENTS AND RESTRICTED CASH June 30, 2023 December 31, 2022 Cash and cash equivalents $ 18,085,104 $ 6,720,543 Restricted cash 5,611,054 2,741,054 Total cash, cash equivalents and restricted cash $ 23,696,158 $ 9,461,597
SCHEDULE OF INVENTORY	SCHEDULE OF INVENTORY June 30, 2023 December 31, 2022 Inventory, component parts $ 2,269,355 $ 1,923,540 Inventory, finished goods 2,554,353 — Total inventory $ 4,823,708 $ 1,923,540
SCHEDULE OF EARNING (LOSS) PER SHARE	The Company had the following anti-dilutive common stock equivalents at June 30, 2023 and 2022: SCHEDULE OF EARNING (LOSS) PER SHARE June 30, 2023 June 30, 2022 Stock warrants 2,063,522 939,895 Stock options 34,233,900 33,124,982 Convertible notes 3,536,668 86,668 Preferred stock - 1,880,400 Total 39,834,090 36,031,945

FURNITURE AND EQUIPMENT (Tables

FURNITURE AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF FURNITURE AND EQUIPMENT	Furniture and equipment consisted of the following: SCHEDULE OF FURNITURE AND EQUIPMENT June 30, 2023 December 31, 2022 Machinery and equipment $ 67,419 $ 67,419 Computer equipment 6,846 6,846 Furniture and fixtures 324,977 36,059 Tooling and production 548,642 534,204 Leasehold improvements 30,553 30,553 Total 978,437 675,081 Less: accumulated depreciation (502,927 ) (459,083 ) Total, net $ 475,510 $ 215,998

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	The Company’s definite-lived intangible assets were as follows: SCHEDULE OF INTANGIBLE ASSETS June 30, 2023 December 31, 2022 Useful life Carrying Value Accumulated Amortization Net carrying value Carrying Value Accumulated Amortization Net carrying value Customer relationships 7 $ 4,500,000 $ (107,143 ) $ 4,392,857 $ - $ - $ - E-commerce technology platforms 4 3,900,000 (162,500 ) 3,737,500 - - - Patents and other 20 1,115,120 (220,927 ) 894,193 869,822 (207,020 ) 662,802 $ 9,515,120 $ (490,570 ) $ 9,024,550 $ 869,822 $ (207,020 ) $ 662,802
SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE	The following table sets forth the estimated amortization expense for the following five years: SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE Twelve months ended June 30,2024 1,673,613 2025 1,673,613 2026 1,673,613 2027 1,511,113 2028 698,613

DEBTS (Tables)

DEBTS (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
SCHEDULE OF DEBT TABLE	The following table presents the details of the principal outstanding: SCHEDULE OF DEBT TABLE June 30, 2023 December 31, 2022 APR June 30, 2023 % Maturity Collateral Notes payable $ - $ 5,115,000 N/A September 2026 Substantially all company assets Line of credit (a) 2,000,000 - 8.25 May 2024 Cash Note payable 1,000,000 - 4.86 July 2023 - Convertible Notes (b) 11,650,000 1,300,000 6.00 10.00 September 2023-March 2026 Substantially all company assets PPP Loans (c) 6,156 7,835 1.00 April 2025 Economic Impact Disaster loan 148,517 150,000 3.75 November 2022 Substantially all company assets Total $ 14,804,673 $ 6,572,935 Unamortized debt discount $ (5,148,220 ) $ - Debt, net of Unamortized debt Discount $ 9,656,453 $ 6,572,935
SCHEDULE OF INTEREST EXPENSE	SCHEDULE OF INTEREST EXPENSE For the six-month period ended June 30, 2023 2022 Interest expense associated with debt 1,214,920 172,421
SCHEDULE OF FUTURE PRINCIPAL PAYMENTS	As of June 30, 2023, the expected future principal payments for the Company’s debt are due as follows: SCHEDULE OF FUTURE PRINCIPAL PAYMENTS Remainder of 2023 2,303,162 2024 2,006,040 2025 3,915 2026 10,352,915 2027 4,015 2028 and thereafter 134,626 Total $ 14,804,673 (a) The unpaid principal bears annual interest at the Wall Street Journal prime rate. (b) Included in Convertible Notes are loans provided to the Company from two directors, an officer and two investors. The notes each have the following terms: three-year subordinated convertible promissory note of principal face amounts. Subject to other customary terms, the Convertible Notes mature between September 2023 and January 2024 and bear interest at an annual rate of 6 15 All convertible notes are convertible at a price ranging between $ 3 15 During the six-month period ended June 30, 2023, the Company issued convertible promissory notes for $ 10.4 1,391,667 3 5.6 278,499 (c) The Small Business Administration forgave approximately $ 178,000

OPERATING LEASE LIABILITIES (Ta

OPERATING LEASE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2023
Operating Lease Liabilities
SCHEDULE OF LEASE COST OPERATING LEASE	The following table outlines the total lease cost for the Company’s operating leases as well as weighted average information for these leases as of June 30, 2023: SCHEDULE OF LEASE COST OPERATING LEASE June 30, 2023 Lease costs: Cash paid for operating lease liabilities $ 207,130 Right-of-use assets obtained in exchange for new operating lease obligations 22,618,579 Fixed rent payment $ 286,401 Lease – Depreciation expense $ 426,714 June 30, 2023 Other information: Weighted-average discount rate 6.41 % Weighted-average remaining lease term (in months) 108
SCHEDULE OF MINIMUM LEASE OBLIGATION	SCHEDULE OF MINIMUM LEASE OBLIGATION Minimum Lease obligation 2024 $ 3,493,519 2025 1,898,428 2026 2,119,073 2027 2,357,033 2028 and thereafter 15,187,485 Total $ 25,055,538

ROYALTY OBLIGATIONS (Tables)

ROYALTY OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2023
Royalty Obligations
SCHEDULE OF ROYALTY OBLIGATIONS	SCHEDULE OF ROYALTY OBLIGATIONS Net Sales in Contract Year Percentage of Contract Year Net Sales owed to GE $ 0 50,000,000 7 % $ 50,000,001 100,000,000 6 % $ 100,000,000 5 %

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES	Accrued expenses consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES June 30, 2023 December 31, 2022 Accrued interest, convertible notes $ 512,466 $ 104,735 Trade payables 10,576,562 1,369,701 Accrued compensation 458,316 475,417 Total $ 11,547,344 $ 1,949,823

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
SCHEDULE OF COMMON STOCK	The Company issued the following common stock during the six months ended June 30, 2023 and 2022: SCHEDULE OF COMMON STOCK Transaction Type Shares Issued Valuation $ Range of Value 2023 Equity Transactions Common stock issued, pursuant to services provided 1,689,901 10,638,534 $ 2.67 3.49 Common stock issued pursuant to stock at the market offering, gross 2,984,308 7,826,045 2.55 3.25 Common stock issued pursuant to conversion of preferred stock 580,400 220,099 0.25 Common stock issued pursuant to acquisition 1,923,285 7,327,716 3.81 Common stock issued pursuant to extinguishment of debt 574,713 2,040,231 3.55 Transaction Type Shares Issued Valuation $ (Issued) Range of Value Per Share 2022 Equity Transactions Common stock issued per exercise of options 435,890 $ 282,625 $ 0.10 14.0 Common stock issued per exercise of warrants, cashless 416,750 — — Common stock issued, pursuant to services provided 542,949 6,167,226 2.0 14.0 Conversion of preferred stock 11,376,536 2,844,134 0.25 Issuance of common stock pursuant to offering, net 1,650,000 23,100,000 14.0 Issuance of common stock, pursuant to anti-dilutive provisions 335,073 4,691,022 14.0
SCHEDULE OF NON-VESTED RESTRICTED STOCK	A summary of the Company’s non-vested restricted stock units during the six-month ended June 30, 2023 and 2022 are as follows : SCHEDULE OF NON-VESTED RESTRICTED STOCK Shares Weighted Average Grant Due Fair Value Non-vested restricted stock units, January 1, 2023 $ 2,516,461 $ 8.39 Granted 2,955,900 3.08 Vested (1,689,901 ) 5.27 Forfeited (227,891 ) 10.71 Non-Vested restricted stock units, June 30, 2023 3,554,569 5.27 Non-vested restricted stock units, January 1, 2022 770,500 3.31 Granted 1,641,393 12.03 Vested (453,893 ) 8.44 Forfeited - - Non-vested restricted stock units on June 30, 2022 1,958,000 9.43
SCHEDULE OF STOCK OPTION ACTIVITY	The following is a summary of the Company’s stock option activity during the six-month periods ended June 30, 2023 and 2022: SCHEDULE OF STOCK OPTION ACTIVITY Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding, January 1, 2023 33,289,250 $ 7.7 - $ 6,472,400 Exercised (481,250 ) 1.34 –– $ –– Awards Granted in Period 1,370,150 3.3 - - Forfeited (1,693,750 ) - Awards expired (425,500 ) $ 4.0 - - - - - Outstanding, June 30, 2023 34,233,900 $ 7.6 3.15 $ 6,472,400 Exercisable, June 30, 2023 12,847,747 $ 4.4 2.47 $ 6,472,400 Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding, January 1, 2022 21,927,182 $ 3.36 4.07 $ 5,990,800 Exercised (481,250 ) 1.34 –– $ –– Granted 13,372,500 11.92 –– Forfeited (1,693,750 ) - Outstanding, June 30, 2022 33,124,982 $ 7.70 3.86 $ 2,802,488 Exercisable, June 30, 2022 23,313,995 $ 5.96 3.34 $ 2,952,013
SCHEDULE OF WARRANT ACTIVITY	The following is a summary of the Company’s warrant activity during the three-month periods ended June 30, 2023 and 2022: SCHEDULE OF WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Balance, January 1, 2023 671,855 $ 11.5 Issued 1,391,667 3.0 Exercised — — Forfeited — — Balance, June 30, 2023 2,063,522 $ 5.76 Number of Warrants Weighted Average Exercise Price Balance, January 1, 2022 2,127,895 $ 5.4 Exercised (535,000 ) — Issued 132,000 18.2 Forfeited (785,000 ) Balance, June 30, 2022 939,895 $ 9.66
SCHEDULE OF OPTIONS GRANTED UNDER BLACK SCHOLES PRICING MODEL ASSUMPTIONS	SCHEDULE OF OPTIONS GRANTED UNDER BLACK SCHOLES PRICING MODEL ASSUMPTIONS June 30, 2023 June 30, 2022 Range Range Stock price $ 3.74 3.84 $ 2.0 14.0 Exercise price $ 3.74 3.84 $ 2.0 14.0 Expected life (in years) 3.5 5 5 Volatility 48 54 % 40 54 % Risk-fee interest rate 3.51 5.02 % 1.37 1.96 % Dividend yield — —

PROFORMA FINANCIAL STATEMENTS_2

PROFORMA FINANCIAL STATEMENTS (unaudited) (Tables)	6 Months Ended
	Jun. 30, 2023
Proforma Financial Statements
SCHEDULE OF PROFORMA CONSOLIDATED RESULTS OF OPERATION	The following pro forma consolidated results of operations have been prepared as if the acquisition occurred on January 1, 2022: SCHEDULE OF PROFORMA CONSOLIDATED RESULTS OF OPERATION 2023 2022 2023 2022 Three-month period ended June 30, Six-month period ended June 30, 2023 2022 2023 2022 Revenues $ 20,416,569 $ 22,823,349 $ 39,031,541 $ 45,654,773 Net loss $ (10,362,183 ) $ (4,984,413 ) $ (18,802,429 ) $ (16,852,888 ) Basic and diluted loss per share $ ( 0.11 ) $ ( 0.06 ) $ ( 0.20 ) $ ( 0.20 ) Weighted average number of shares outstanding- basic and diluted 93,874,115 87,829,055 92,097,014 83,971,562

SCHEDULE OF INITIAL ALLOCATION

SCHEDULE OF INITIAL ALLOCATION OF THE PURCHASE PRICE (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Goodwill	$ 15,483,678
Belami [Member]
Restructuring Cost and Reserve [Line Items]
Assets acquired excluding identifiable intangible assets and goodwill	7,090,094
Goodwill	15,252,420
Assumed liabilities	(10,462,590)
Total Assets Acquired	20,271,916
Cash outlay, net of cash acquired	4,206,200
Consideration payable	8,738,000
Shares of common stock issued at initial closing	7,327,716
Total purchase price	20,271,916
Belami [Member] | Customer Relationships [Member]
Restructuring Cost and Reserve [Line Items]
E-commerce technology platforms	4,500,000
Belami [Member] | E Commerce Technology Platforms [Member]
Restructuring Cost and Reserve [Line Items]
E-commerce technology platforms	$ 3,900,000

SCHEDULE OF CASH EQUIVALENTS AN

SCHEDULE OF CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 18,085,104	$ 6,720,543
Restricted cash	5,611,054	2,741,054	$ 2,700,000
Total cash, cash equivalents and restricted cash	$ 23,696,158	$ 9,461,597

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Inventory, component parts	$ 2,269,355	$ 1,923,540
Inventory, finished goods	2,554,353
Total inventory	$ 4,823,708	$ 1,923,540

SCHEDULE OF EARNING (LOSS) PER

SCHEDULE OF EARNING (LOSS) PER SHARE (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	39,834,090	36,031,945
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,063,522	939,895
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	34,233,900	33,124,982
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,536,668	86,668
Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		1,880,400

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Escrow deposit	$ 750,000
Restricted cash	5,611,054	$ 2,741,054	$ 2,700,000
Restricted investments	2,700,000	2,700,000
Line of credit	2,000,000
Allowance for doubtful accounts	37,088	0
Allowance for sales returns	393,820	0
Deferred revenues	1,662,815	0
Deferred charges	$ 1,296,181
Belami [Member]
Restructuring Cost and Reserve [Line Items]
Cash held in escrow	6%
Belami [Member] | April 2024 [Member]
Restructuring Cost and Reserve [Line Items]
Fair value of the cash	$ 3,200,000
Share value payable	5,500,000
Belami [Member] | July 2024 [Member]
Restructuring Cost and Reserve [Line Items]
Escrow deposit	$ 750,000

SCHEDULE OF FURNITURE AND EQUIP

SCHEDULE OF FURNITURE AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total	$ 978,437	$ 675,081
Less: accumulated depreciation	(502,927)	(459,083)
Total, net	475,510	215,998
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	67,419	67,419
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	6,846	6,846
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	324,977	36,059
Tooling And Production [Member]
Property, Plant and Equipment [Line Items]
Total	548,642	534,204
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total	$ 30,553	$ 30,553

FURNITURE AND EQUIPMENT (Detail

FURNITURE AND EQUIPMENT (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 64,494	$ 9,505

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 9,515,120	$ 869,822
Accumulated Amortization	(490,570)	(207,020)
Net carrying value	$ 9,024,550	662,802
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years
Carrying Value	$ 4,500,000
Accumulated Amortization	(107,143)
Net carrying value	$ 4,392,857
E Commerce Technology Platforms [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	4 years
Carrying Value	$ 3,900,000
Accumulated Amortization	(162,500)
Net carrying value	$ 3,737,500
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	20 years
Carrying Value	$ 1,115,120	869,822
Accumulated Amortization	(220,927)	(207,020)
Net carrying value	$ 894,193	$ 662,802

SCHEDULE OF INTANGIBLE ASSETS A

SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE (Details)	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 1,673,613
2025	1,673,613
2026	1,673,613
2027	1,511,113
2028	$ 698,613

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 283,550	$ 12,395

SCHEDULE OF DEBT TABLE (Details

SCHEDULE OF DEBT TABLE (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Total	$ 14,804,673	$ 6,572,935
Unamortized debt discount	(5,148,220)
Debt, net of Unamortized debt Discount	9,656,453	6,572,935
Notes Payable [Member]
Short-Term Debt [Line Items]
Total		5,115,000
Maturity date description	September 2026
Line of Credit [Member]
Short-Term Debt [Line Items]
Total	$ 2,000,000
Maturity date description	May 2024
Debt instrument interest rate stated percentage	8.25%
Notes Payable One [Member]
Short-Term Debt [Line Items]
Total	$ 1,000,000
Maturity date description	July 2023
Debt instrument interest rate stated percentage	4.86%
Convertible Notes [Member]
Short-Term Debt [Line Items]
Total	$ 11,650,000	1,300,000
Maturity date description	September 2023-March 2026
Debt instrument interest rate stated percentage	6%
Convertible Notes [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate stated percentage	6%
Convertible Notes [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate stated percentage	10%
Paycheck Protection Program Loans [Member]
Short-Term Debt [Line Items]
Total	$ 6,156	7,835
Maturity date description	April 2025
Debt instrument interest rate stated percentage	1%
Economic impact disaster loan [Member]
Short-Term Debt [Line Items]
Total	$ 148,517	$ 150,000
Maturity date description	November 2022
Debt instrument interest rate stated percentage	3.75%

SCHEDULE OF INTEREST EXPENSE (D

SCHEDULE OF INTEREST EXPENSE (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Debt Disclosure [Abstract]
Interest expense	$ 1,214,920	$ 172,421

SCHEDULE OF FUTURE PRINCIPAL PA

SCHEDULE OF FUTURE PRINCIPAL PAYMENTS (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Remainder of 2023	$ 2,303,162
2024	2,006,040
2025	3,915
2026	10,352,915
2027	4,015
2028 and thereafter	134,626
Total	$ 14,804,673	$ 6,572,935

SCHEDULE OF DEBT TABLE (Detai_2

SCHEDULE OF DEBT TABLE (Details) (Parenthetical) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Convertible Notes [Member]
Short-Term Debt [Line Items]
Interest rate	6%
Debt Instrument conversion price	$ 15
Convertible notes payable	$ 10,400,000
Warrents	1,391,667
Exercise price	$ 3
Debt instrument convertible beneficial conversion feature	$ 5,600,000
Amortization of debt discount	$ 278,499
Convertible Notes [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Interest rate	6%
Debt Instrument conversion price	$ 3
Convertible Notes [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Interest rate	10%
Debt Instrument conversion price	$ 15
Paycheck Protection Program Loans [Member]
Short-Term Debt [Line Items]
Interest rate	1%
Debt forgiveness		$ 178,000

SCHEDULE OF LEASE COST OPERATIN

SCHEDULE OF LEASE COST OPERATING LEASE (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)
Operating Lease Liabilities
Cash paid for operating lease liabilities	$ 207,130
Right-of-use assets obtained in exchange for new operating lease obligations	22,618,579
Fixed rent payment	286,401
Lease - Depreciation expense	$ 426,714
Operating lease, weighted average discount rate, percentage	6.41%
Operating lease, weighted average remaining lease term	108 months

SCHEDULE OF MINIMUM LEASE OBLIG

SCHEDULE OF MINIMUM LEASE OBLIGATION (Details)	Jun. 30, 2023 USD ($)
Operating Lease Liabilities
2024	$ 3,493,519
2025	1,898,428
2026	2,119,073
2027	2,357,033
2028 and thereafter	15,187,485
Total	$ 25,055,538

OPERATING LEASE LIABILITIES (De

OPERATING LEASE LIABILITIES (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Apr. 30, 2022
Lessee, Lease, Description [Line Items]
Restricted cash	$ 5,611,054	$ 2,741,054	$ 2,700,000
58-Month Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease, liability				$ 1,428,764
124-Month Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease, liability			$ 22,200,000

SCHEDULE OF ROYALTY OBLIGATIONS

SCHEDULE OF ROYALTY OBLIGATIONS (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2023 USD ($)
Tier One [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Net Sales in Contract Year	$ 0
Tier One [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Net Sales in Contract Year	50,000,000
Tier Two [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Net Sales in Contract Year	50,000,001
Tier Two [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Net Sales in Contract Year	100,000,000
Tier Three [Member]
Guarantor Obligations [Line Items]
Net Sales in Contract Year	$ 100,000,000

SCHEDULE OF ROYALTY OBLIGATIO_2

SCHEDULE OF ROYALTY OBLIGATIONS (Details)	6 Months Ended
	Jun. 30, 2023
Tier One [Member]
Guarantor Obligations [Line Items]
Percentage of Contract Year Net Sales owed to GE	7%
Tier Two [Member]
Guarantor Obligations [Line Items]
Percentage of Contract Year Net Sales owed to GE	6%
Tier Three [Member]
Guarantor Obligations [Line Items]
Percentage of Contract Year Net Sales owed to GE	5%

ROYALTY OBLIGATIONS (Details Na

ROYALTY OBLIGATIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty guarantees commitments amount	$ 2,638,000	$ 2,638,000
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from royalties	$ 50,000,000

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued interest, convertible notes	$ 512,466	$ 104,735
Trade payables	10,576,562	1,369,701
Accrued compensation	458,316	475,417
Total	$ 11,547,344	$ 1,949,823

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Number of shares issued	574,713
IPO [Member]
Related Party Transaction [Line Items]
Number of shares issued			455,353
Proceeds from IPO			$ 6,374,942
Chief Executive Officer [Member] | Two Directors [Member]
Related Party Transaction [Line Items]
Related party transactions amount		$ 950,000		$ 950,000
Accrued interest		$ 219,972		$ 104,375
Director [Member] | IPO [Member]
Related Party Transaction [Line Items]
Number of shares issued			95,386

SCHEDULE OF COMMON STOCK (Detai

SCHEDULE OF COMMON STOCK (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock pursuant to offering, net, Shares Issued	574,713
Issuance of common stock pursuant to offering, net, Valuation issued	$ 2,000,000
Common stock issued per exercise of options, Shares Issued				481,250	481,250
Issuance of common stock, pursuant to anti-dilutive provisions, Valuation issued					$ 4,691,022
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued, pursuant to services provided, Shares Issued		1,407,713	94,540	1,689,901	542,949
Issuance of common stock pursuant to offering, net, Shares Issued		2,984,308		2,984,308	1,650,000
Common stock issued pursuant to acquisition, Shares Issued		1,923,285		1,923,285
Common stock issued per exercise of warrants, cashless, Shares Issued		574,713		574,713
Conversion of preferred stock, Shares Issued		580,400	1,400,000	580,400	11,376,536
Common Stock [Member] | 2023 Equity Transactions [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued, pursuant to services provided, Shares Issued				1,689,901
Common stock issued, pursuant to services provided, Valuation issued				$ 10,638,534
Issuance of common stock pursuant to offering, net, Shares Issued				2,984,308
Issuance of common stock pursuant to offering, net, Valuation issued				$ 7,826,045
Common stock issued pursuant to conversion of preferred stock, Shares Issued				580,400
Common stock issued pursuant to conversion of preferred stock, Valuation issued				$ 220,099
Common stock issued, pursuant to services provided, Range of value per share		$ 0.25		$ 0.25
Common stock issued pursuant to acquisition, Shares Issued				1,923,285
Common stock issued pursuant to acquisition, Valuation issued				$ 7,327,716
Conversion of preferred stock, Range of value per share		3.81		$ 3.81
Common stock issued pursuant to extinguishment of debt, Shares Issued				574,713
Common stock issued pursuant to extinguishment of debt, Valuation issued				$ 2,040,231
Issuance of common stock pursuant to offering, net, Range of value per share		3.55		$ 3.55
Common Stock [Member] | 2023 Equity Transactions [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued per exercise of options, Range of value per share		2.67		2.67
Common stock issued per exercise of warrants, cashless, Range of Value Per Share		2.55		2.55
Common Stock [Member] | 2023 Equity Transactions [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued per exercise of options, Range of value per share		3.49		3.49
Common stock issued per exercise of warrants, cashless, Range of Value Per Share		$ 3.25		$ 3.25
Common Stock [Member] | 2022 Equity Transactions [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued, pursuant to services provided, Shares Issued					542,949
Common stock issued, pursuant to services provided, Valuation issued					$ 6,167,226
Issuance of common stock pursuant to offering, net, Shares Issued					1,650,000
Issuance of common stock pursuant to offering, net, Valuation issued					$ 23,100,000
Common stock issued per exercise of warrants, cashless, Range of Value Per Share
Conversion of preferred stock, Range of value per share			0.25		0.25
Issuance of common stock pursuant to offering, net, Range of value per share			14		$ 14
Common stock issued per exercise of options, Shares Issued					435,890
Common stock issued per exercise of options, Valuation Issued					$ 282,625
Common stock issued per exercise of warrants, cashless, Shares Issued					416,750
Common stock issued per exercise of warrants, cashless, Valuation Issued
Conversion of preferred stock, Shares Issued					11,376,536
Conversion of preferred stock, Valuation issued					$ 2,844,134
Issuance of common stock, pursuant to anti-dilutive provisions, Shares Issued					335,073
Issuance of common stock, pursuant to anti-dilutive provisions, Valuation issued					$ 4,691,022
Issuance of common stock, pursuant to anti-dilutive provisions, Range of value per share			14		$ 14
Common Stock [Member] | 2022 Equity Transactions [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued per exercise of options, Range of value per share			0.10		0.10
Common stock issued, pursuant to services provided, Range of value per share			2		2
Common Stock [Member] | 2022 Equity Transactions [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued per exercise of options, Range of value per share			14		14
Common stock issued, pursuant to services provided, Range of value per share			$ 14		$ 14

SCHEDULE OF NON-VESTED RESTRICT

SCHEDULE OF NON-VESTED RESTRICTED STOCK (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-vested restricted stock units, granted	1,370,150	13,372,500
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-vested restricted stock units, beginning balance	2,516,461	770,500
Non-vested restricted stock units, Weighted average grant due fair value, beginning balance	$ 8.39	$ 3.31
Non-vested restricted stock units, granted	2,955,900	1,641,393
Non-vested restricted stock units, Weighted average grant due fair value, granted	$ 3.08	$ 12.03
Non-vested restricted stock units, vested	(1,689,901)	(453,893)
Non-vested restricted stock units, Weighted average grant due fair value, vested	$ 5.27	$ 8.44
Non-vested restricted stock units, forfeited	(227,891)
Non-vested restricted stock units, Weighted average grant due fair value, forfeited	$ 10.71
Non-vested restricted stock units, ending balance	3,554,569	1,958,000
Non-vested restricted stock units, Weighted average grant due fair value, ending balance	$ 5.27	$ 9.43

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Number of shares, outstanding	33,289,250	21,927,182
Weighted Average Exercise Price, Outstanding beginning	$ 7.7	$ 3.36
Aggregate Intrinsic value, Outstanding beginning	$ 6,472,400	$ 5,990,800
Number of shares, Exercised	(481,250)	(481,250)
Weighted Average Exercise Price, Exercised	$ 1.34	$ 1.34
Number of shares, Granted	1,370,150	13,372,500
Weighted Average Exercise Price, Granted	$ 3.3	$ 11.92
Number of shares, Forfeited	(1,693,750)	(1,693,750)
Weighted Average Exercise Price, Forfeited
Number of shares, expired	(425,500)
Weighted Average Exercise Price, expired	$ 4
Number of shares, outstanding ending	34,233,900	33,124,982	21,927,182
Weighted Average Exercise Price, Outstanding ending	$ 7.6	$ 7.70	$ 3.36
Weighted Average Remaining Contractual Life in Years, Outstanding	3 years 1 month 24 days	3 years 10 months 9 days	4 years 25 days
Aggregate Intrinsic value, Outstanding ending	$ 6,472,400	$ 2,802,488	$ 5,990,800
Number of shares, Exercisable	12,847,747	23,313,995
Weighted Average Exercise Price, Exercisable ending	$ 4.4	$ 5.96
Weighted Average Remaining Contractual Life in Years, Exercisable ending	2 years 5 months 19 days	3 years 4 months 2 days
Aggregate Intrinsic value, Exercisable ending	$ 6,472,400	$ 2,952,013

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Number of Warrants, Beginning balance	671,855	2,127,895
Weighted average exercise price outstanding, beginning	$ 11.5	$ 5.4
Number of Warrants, Issued	1,391,667	132,000
Weighted Average Exercise Price, Issued	$ 3	$ 18.2
Number of Warrants, Exercised		535,000
Weighted Average Exercise Price, Exercised
Number of Warrants, Forfeited		785,000
Weighted Average Exercise Price, Forfeited
Number of Warrants, Ending balance	2,063,522	939,895
Weighted average exercise price outstanding, ending	$ 5.76	$ 9.66
Number of Warrants, Exercised		(535,000)
Number of Warrants, Forfeited		(785,000)

SCHEDULE OF OPTIONS GRANTED UND

SCHEDULE OF OPTIONS GRANTED UNDER BLACK SCHOLES PRICING MODEL ASSUMPTIONS (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Expected term (in years)		5 years
Dividend yield
Minimum [Member]
Share price	$ 3.74	$ 2
Exercise price	$ 3.74	$ 2
Expected term (in years)	3 years 6 months
Expected volatility	48%	40%
Risk-fee interest rate	3.51%	1.37%
Maximum [Member]
Share price	$ 3.84	$ 14
Exercise price	$ 3.84	$ 14
Expected term (in years)	5 years
Expected volatility	54%	54%
Risk-fee interest rate	5.02%	1.96%

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued pursuant to offerings, shares	574,713
Notes payable	$ 6,200,000
Number of shares paid	2,000,000
Gain on extinguishment of debt	$ 1,201,857	$ 1,201,857		$ 1,201,857	$ 178,250
Unamortized future option expense		$ 39,100,000		$ 39,100,000
Weighted average period to be recognized				3 years 7 months 6 days
Share based compensation				$ 10,638,534	$ 11,194,200
Series A Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares outstanding		0		0
Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, par value			$ 3.50		$ 3.50
Sale of stock, price per share			$ 0.25		$ 0.25
Dividends, preferred stock					$ 27,876
Conversion of stock shares				880,400	9,976,536
Stockholders [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock issued pursuant to offerings, shares					335,073

CONCENTRATIONS OF RISKS (Detail

CONCENTRATIONS OF RISKS (Details Narrative)	6 Months Ended
	Jun. 30, 2023
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Third Party Payor [Member]
Concentration Risk [Line Items]
Concentration risk percentage	24%

SCHEDULE OF PROFORMA CONSOLIDAT

SCHEDULE OF PROFORMA CONSOLIDATED RESULTS OF OPERATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Proforma Financial Statements
Revenues	$ 20,416,569	$ 22,823,349	$ 39,031,541	$ 45,654,773
Net loss	$ (10,362,183)	$ (4,984,413)	$ (18,802,429)	$ (16,852,888)
Basic loss per share	$ 0.11	$ 0.06	$ 0.20	$ 0.20
Diluted loss per share	0.11	0.06	0.20	0.20
Weighted average number of shares outstanding diluted	$ 93,874,115	87,829,055	$ 92,097,014	83,971,562
Weighted average number of shares outstanding basic		$ 87,829,055		$ 83,971,562