Cover
Cover | 6 Months Ended |
Jun. 30, 2023 | |
Entity Addresses [Line Items] | |
Document Type | S-4/A |
Amendment Flag | true |
Amendment Description | Amendment No.1 |
Entity Registrant Name | IMAC Holdings, Inc. |
Entity Central Index Key | 0001729944 |
Entity Tax Identification Number | 83-0784691 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 3401 Mallory Lane |
Entity Address, Address Line Two | Suite 100 |
Entity Address, City or Town | Franklin |
Entity Address, State or Province | TN |
Entity Address, Postal Zip Code | 37067 |
City Area Code | (844) 266-4622 |
Local Phone Number | 266-4622 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | 3401 Mallory Lane |
Entity Address, Address Line Two | Suite 100 |
Entity Address, City or Town | Franklin |
Entity Address, State or Province | TN |
Entity Address, Postal Zip Code | 37067 |
Contact Personnel Name | Jeffrey S. Ervin |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |||
CURRENT ASSETS: | ||||||||
Cash | $ 247,002 | $ 763,211 | $ 7,118,980 | |||||
Accounts receivable, net | 678,603 | 2,881,239 | 1,209,333 | |||||
Other receivable (related party $0 in 2022 and $21,711 in 2021) | ||||||||
Prepaid expenses and other current assets | ||||||||
Marketable securities | ||||||||
Laboratory supplies | ||||||||
Deferred compensation, current portion | 102,153 | 196,119 | 191,657 | |||||
Other assets | 248,578 | 367,358 | 547,536 | |||||
Total Current Assets | 1,276,336 | 4,207,927 | 9,067,506 | |||||
Property and equipment, net | 565,843 | 1,584,714 | 2,323,163 | |||||
OTHER ASSETS: | ||||||||
Intangible assets, net | 901,893 | 1,365,457 | 5,797,469 | |||||
Deferred compensation, net of current portion | 73,816 | |||||||
Goodwill | 4,661,796 | |||||||
Finance right-of-use assets, net | ||||||||
Deferred offering costs | ||||||||
Security deposits | 215,126 | 300,430 | 357,050 | |||||
Operating right-of-use asset, net | 1,685,802 | 3,623,078 | 4,948,393 | |||||
Total other assets | 2,802,821 | 5,288,965 | 15,838,524 | |||||
Total Assets | 4,645,000 | 11,081,606 | 27,229,193 | |||||
CURRENT LIABILITIES: | ||||||||
Accounts payable and accrued expenses | 2,441,261 | 1,702,740 | 2,523,332 | |||||
Accounts payable - related parties | ||||||||
Accrued liabilities - related parties | ||||||||
Accrued compensation | ||||||||
Accrued director compensation | ||||||||
Contract liabilities | ||||||||
Patient deposits | 186,139 | 241,666 | 320,917 | |||||
Convertible notes - related parties, net of discount | ||||||||
Notes payable - current | 39,435 | 51,657 | 254,487 | |||||
Financing lease liability - current | 16,853 | 19,898 | 19,050 | |||||
Liability to issue common stock, current portion | 292,246 | 329,855 | 337,935 | |||||
Operating lease liability - current | 947,657 | 1,368,016 | 1,478,140 | |||||
Insurance payable | ||||||||
Subscriptions payable | ||||||||
Derivative liabilities | ||||||||
Contingent liabilities | ||||||||
Total Current Liabilities | 3,923,591 | 3,713,832 | 4,933,861 | |||||
LONG-TERM LIABILITIES: | ||||||||
Notes payable, net of current portion | 35,144 | 53,039 | 104,697 | |||||
Financing lease liability | 2,580 | 9,375 | 29,273 | |||||
Convertible notes, net of discount | ||||||||
Liability to issue common stock, net of current portion | 189,375 | |||||||
Operating lease liability | 1,042,655 | 2,654,104 | 4,018,926 | |||||
Total Liabilities | 5,003,970 | 6,430,350 | 9,276,132 | |||||
Commitments and Contingencies (Note 11) | ||||||||
Temporary equity value | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Common stock value | 1,109 | [1] | 1,098 | [1],[2] | 874 | [2] | ||
Additional paid-in capital | 51,261,621 | 51,169,898 | 46,159,121 | |||||
Accumulated deficit | (51,621,700) | (46,519,740) | (28,206,934) | |||||
Total Stockholders’ Deficit | (358,970) | 4,651,256 | 17,953,061 | |||||
Total Liabilities and Stockholders’ Deficit | 4,645,000 | 11,081,606 | 27,229,193 | |||||
Theralink Technologies Inc [Member] | ||||||||
CURRENT ASSETS: | ||||||||
Cash | 25,089 | $ 393,460 | $ 314,151 | |||||
Accounts receivable, net | 15,000 | 32,125 | ||||||
Other receivable (related party $0 in 2022 and $21,711 in 2021) | 23,044 | |||||||
Prepaid expenses and other current assets | 185,174 | 217,699 | 219,496 | |||||
Marketable securities | 800 | 3,700 | 11,000 | |||||
Laboratory supplies | 71,062 | |||||||
Total Current Assets | 226,063 | 646,984 | 638,753 | |||||
Property and equipment, net | 333,338 | 686,127 | 698,927 | |||||
OTHER ASSETS: | ||||||||
Finance right-of-use assets, net | 30,178 | 64,954 | 111,323 | |||||
Deferred offering costs | 27,270 | |||||||
Security deposits | 18,715 | 18,715 | 20,909 | |||||
Operating right-of-use asset, net | 1,117,169 | 1,154,861 | 168,664 | |||||
Total Assets | 1,725,463 | 2,598,911 | 1,638,576 | |||||
CURRENT LIABILITIES: | ||||||||
Accounts payable - related parties | 730,923 | 1,018,797 | ||||||
Accrued liabilities - related parties | 268,021 | 71,077 | ||||||
Accrued compensation | 435,669 | 383,295 | 186,177 | |||||
Accrued director compensation | 237,500 | 192,500 | 132,500 | |||||
Contract liabilities | 260,440 | 156,550 | 135,150 | |||||
Notes payable - current | 1,000 | 1,000 | ||||||
Financing lease liability - current | 39,565 | 53,995 | 47,730 | |||||
Operating lease liability - current | 29,880 | 25,551 | 42,411 | |||||
Insurance payable | 12,616 | 122,295 | 118,294 | |||||
Subscriptions payable | 1,350,000 | |||||||
Derivative liabilities | 33,484,450 | |||||||
Contingent liabilities | 83,840 | 78,440 | 71,240 | |||||
Total Current Liabilities | 48,080,786 | 3,455,720 | 3,296,090 | |||||
LONG-TERM LIABILITIES: | ||||||||
Financing lease liability | 8,958 | 34,390 | 88,385 | |||||
Convertible notes, net of discount | 446,281 | |||||||
Operating lease liability | 1,134,658 | 1,157,761 | 134,482 | |||||
Total Liabilities | 49,224,402 | 6,399,966 | 3,583,938 | |||||
Commitments and Contingencies (Note 11) | ||||||||
Temporary equity value | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Common stock value | 615,150 | 615,150 | 512,416 | |||||
Additional paid-in capital | 55,255,860 | 55,391,612 | 44,368,077 | |||||
Accumulated deficit | (103,369,949) | (62,807,817) | (49,825,855) | |||||
Total Stockholders’ Deficit | (47,498,939) | (44,302,919) | (6,801,055) | $ (4,865,914) | (4,945,362) | |||
Total Liabilities and Stockholders’ Deficit | 1,725,463 | 2,598,911 | 1,638,576 | |||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | ||||||||
LONG-TERM LIABILITIES: | ||||||||
Temporary equity value | 2,000,000 | 2,000,000 | ||||||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||
LONG-TERM LIABILITIES: | ||||||||
Temporary equity value | 1,000,000 | 1,000,000 | ||||||
Theralink Technologies Inc [Member] | Series A Preferred Stock [Member] | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Theralink Technologies Inc [Member] | Series D One Preferred Stock [Member] | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Theralink Technologies Inc [Member] | Series D Two Preferred Stock [Member] | ||||||||
STOCKHOLDERS’ DEFICIT: | ||||||||
Preferred stock value | ||||||||
Related Party [Member] | ||||||||
CURRENT LIABILITIES: | ||||||||
Accounts payable - related parties | ||||||||
Accrued liabilities - related parties | ||||||||
Convertible notes - related parties, net of discount | ||||||||
LONG-TERM LIABILITIES: | ||||||||
Convertible notes, net of discount | ||||||||
Related Party [Member] | Theralink Technologies Inc [Member] | ||||||||
CURRENT ASSETS: | ||||||||
Accounts receivable, net | 0 | 21,711 | ||||||
CURRENT LIABILITIES: | ||||||||
Accounts payable - related parties | 7,972 | 16,223 | 3,714 | |||||
Accrued liabilities - related parties | 536,625 | 76,927 | 18,000 | |||||
Convertible notes - related parties, net of discount | 5,309,663 | 1,000,000 | ||||||
Notes payable - current | 797,197 | 350,000 | 100,000 | |||||
LONG-TERM LIABILITIES: | ||||||||
Convertible notes, net of discount | 1,305,814 | $ 64,981 | ||||||
Nonrelated Party [Member] | Theralink Technologies Inc [Member] | ||||||||
CURRENT LIABILITIES: | ||||||||
Accounts payable - related parties | 1,123,374 | 730,923 | ||||||
Accrued liabilities - related parties | 533,661 | 268,021 | ||||||
Convertible notes - related parties, net of discount | 5,187,334 | |||||||
Notes payable - current | 1,000 | 1,000 | ||||||
LONG-TERM LIABILITIES: | ||||||||
Notes payable, net of current portion | ||||||||
Convertible notes, net of discount | $ 446,281 | |||||||
[1]Retrospectively restated for the effect of the 30-for-1 reverse stock split. (Note 15)[2]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Preferred stock, par or stated value per share | $ 0.001 | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | ||
Preferred stock, shares issued | |||||
Preferred stock, shares outstanding | |||||
Common stock, par or stated value per share | $ 0.001 | $ 0.001 | $ 0.001 | ||
Common stock, shares authorized | 60,000,000 | 60,000,000 | 60,000,000 | ||
Common stock, shares, issued | 1,109,359 | 1,100,592 | 895,880 | ||
Common stock, shares, outstanding | 1,109,335 | 1,097,843 | 873,939 | ||
Other receivable related party | $ 678,603 | $ 2,881,239 | $ 1,209,333 | ||
Theralink Technologies Inc [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 26,667 | 26,667 | 26,667 | ||
Preferred stock, shares outstanding | 1,043 | 2,966 | |||
Common stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Common stock, shares authorized | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | ||
Common stock, shares, issued | 6,151,499,919 | 6,151,499,919 | 5,124,164,690 | ||
Common stock, shares, outstanding | 6,151,499,919 | 6,151,499,919 | 5,124,164,690 | ||
Other receivable related party | $ 15,000 | $ 32,125 | |||
Theralink Technologies Inc [Member] | Related Party [Member] | |||||
Other receivable related party | $ 0 | $ 21,711 | |||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | |||||
Temporary equity, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Temporary equity, shares authorized | 2,000 | 2,000 | 2,000 | ||
Temporary equity, shares outstanding | 1,000 | 1,000 | |||
Temporary equity, shares issued | 1,000 | 1,000 | |||
Temporary equity, liquidation preference | $ 0 | $ 2,040,329 | $ 2,013,151 | ||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | |||||
Temporary equity, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Temporary equity, shares authorized | 2,000 | 2,000 | 2,000 | ||
Temporary equity, shares outstanding | 500 | ||||
Temporary equity, shares issued | 500 | ||||
Temporary equity, liquidation preference | $ 0 | $ 1,020,164 | $ 1,006,728 | ||
Theralink Technologies Inc [Member] | Series A Preferred Stock [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 1,333 | 1,333 | 1,333 | ||
Preferred stock, shares issued | 667 | 667 | 667 | ||
Preferred stock, shares outstanding | 667 | 667 | 667 | ||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 3,000 | 3,000 | 3,000 | ||
Preferred stock, shares issued | 141 | 1,043 | 2,966 | ||
Preferred stock, shares outstanding | 141 | 1,043 | 2,966 | ||
Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 6,000 | 6,000 | 6,000 | ||
Preferred stock, shares issued | 3,037 | 4,917 | |||
Preferred stock, shares outstanding | 3,037 | 4,917 | |||
Theralink Technologies Inc [Member] | Series D One Preferred Stock [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 1,000 | 1,000 | 1,000 | ||
Preferred stock, shares issued | |||||
Preferred stock, shares outstanding | |||||
Theralink Technologies Inc [Member] | Series D Two Preferred Stock [Member] | |||||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares authorized | 4,360 | 4,360 | 4,360 | ||
Preferred stock, shares issued | |||||
Preferred stock, shares outstanding |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | ||||||||
REVENUES, NET | $ 1,343,975 | $ 5,033,088 | $ 3,437,337 | $ 8,928,075 | $ 16,185,682 | $ 14,385,828 | |||||||||||
Total revenue | 1,343,975 | 5,033,088 | 3,437,337 | 8,928,075 | |||||||||||||
COST OF REVENUE | |||||||||||||||||
GROSS PROFIT | |||||||||||||||||
OPERATING EXPENSES: | |||||||||||||||||
Patient expenses | 175,748 | 397,235 | 441,980 | 857,708 | 1,508,408 | 1,628,206 | |||||||||||
Salaries and benefits | 1,251,842 | 3,863,089 | 3,564,903 | 7,762,487 | 14,517,253 | 13,309,797 | |||||||||||
Advertising and marketing | 36,761 | 242,562 | 111,305 | 613,050 | 1,100,422 | 1,324,715 | |||||||||||
Professional fees | |||||||||||||||||
Compensation expense | |||||||||||||||||
Licensing fees | |||||||||||||||||
General and administrative expenses | 886,632 | 1,857,915 | 2,391,506 | 3,673,162 | 7,281,473 | 6,422,818 | |||||||||||
Impairment loss | |||||||||||||||||
Depreciation and amortization | 119,795 | 438,612 | 309,618 | 885,384 | 1,626,614 | 1,649,187 | |||||||||||
Loss on disposition or impairment | 254,147 | 34,832 | 1,695,161 | 82,261 | 8,431,803 | 149,464 | |||||||||||
Total Operating Expenses | 2,724,925 | 6,834,245 | 8,514,473 | 13,874,052 | 34,465,974 | 24,484,186 | |||||||||||
LOSS FROM OPERATIONS | (1,380,950) | (1,801,157) | (5,077,136) | (4,945,977) | (18,280,292) | (10,098,358) | |||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Interest income | 1 | 1,321 | 1 | 1,321 | 10,583 | 2,885 | |||||||||||
Other income (expense) | (39,530) | (52,704) | (28,905) | 57,329 | |||||||||||||
Interest expense, net | (22,358) | (4,733) | (24,825) | (8,864) | (14,191) | (504,103) | |||||||||||
Unrealized loss on marketable securities | |||||||||||||||||
Gain on debt extinguishment, net | |||||||||||||||||
Unrealized loss on exchange rate | |||||||||||||||||
Gain on disposal of subsidiary | |||||||||||||||||
Gain on dissolution of subsidiary | |||||||||||||||||
Settlement expense | |||||||||||||||||
Derivative income (expense) | |||||||||||||||||
Total Other Income (Loss), net | (22,357) | (42,942) | (24,824) | (60,247) | (32,513) | (443,889) | |||||||||||
Net loss before income taxes | (1,403,307) | (1,844,099) | (5,101,960) | (5,006,224) | (18,312,806) | (10,542,247) | |||||||||||
Income taxes | |||||||||||||||||
NET LOSS | (1,403,307) | (1,844,099) | (5,101,960) | (5,006,224) | $ (18,312,806) | $ (10,542,247) | |||||||||||
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | |||||||||||||||||
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS: | |||||||||||||||||
Basic and Diluted | $ (1.27) | [1] | $ (2.06) | [1] | $ (4.63) | [1] | $ (5.65) | [1] | $ (19.43) | [2] | $ (14.02) | [2] | |||||
Diluted | [1] | $ (1.27) | $ (2.06) | $ (4.63) | $ (5.65) | ||||||||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||||||||||||||||
Basic and Diluted | 1,104,711 | 893,364 | 1,102,587 | 886,151 | 942,463 | [2] | 751,723 | [2] | |||||||||
Diluted | [1] | 1,104,711 | 893,364 | 1,102,587 | 886,151 | ||||||||||||
Theralink Technologies Inc [Member] | |||||||||||||||||
REVENUES, NET | $ 202,447 | $ 164,213 | $ 427,529 | $ 262,688 | $ 567,905 | $ 505,604 | |||||||||||
COST OF REVENUE | 50,084 | 99,484 | 86,328 | 160,229 | 224,886 | 117,456 | |||||||||||
GROSS PROFIT | 152,363 | 64,729 | 341,201 | 102,459 | 343,019 | 388,148 | |||||||||||
OPERATING EXPENSES: | |||||||||||||||||
Professional fees | 461,431 | 162,164 | 1,310,780 | 677,740 | 2,311,098 | 903,932 | |||||||||||
Compensation expense | 1,012,488 | 703,267 | 4,165,682 | 2,031,755 | 7,373,037 | 2,259,273 | |||||||||||
Licensing fees | 19,024 | 30,377 | 55,883 | 105,432 | 138,440 | 131,469 | |||||||||||
General and administrative expenses | 342,473 | 545,254 | 1,213,953 | 1,606,174 | 2,160,450 | 2,659,453 | |||||||||||
Impairment loss | 238,671 | 238,671 | |||||||||||||||
Depreciation and amortization | 40,586 | 36,825 | 122,098 | 108,754 | 144,411 | 139,362 | |||||||||||
Total Operating Expenses | 2,074,087 | 1,441,062 | 6,984,969 | 4,421,101 | 11,983,025 | 5,954,127 | |||||||||||
LOSS FROM OPERATIONS | (1,921,724) | (1,376,333) | (6,643,768) | (4,318,642) | (11,640,006) | (5,565,979) | |||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Interest expense, net | (5,060,163) | (326,961) | (11,799,215) | (729,814) | (1,094,656) | (121,094) | |||||||||||
Unrealized loss on marketable securities | (100) | (5,500) | (2,900) | (8,600) | (7,300) | (100) | |||||||||||
Gain on debt extinguishment, net | (5,434,447) | 227,294 | |||||||||||||||
Unrealized loss on exchange rate | (22,686) | ||||||||||||||||
Gain on disposal of subsidiary | 1,000 | ||||||||||||||||
Gain on dissolution of subsidiary | 9,916 | ||||||||||||||||
Settlement expense | (200,000) | ||||||||||||||||
Derivative income (expense) | 11,482,036 | (16,442,350) | |||||||||||||||
Total Other Income (Loss), net | 6,421,773 | (332,461) | (33,878,912) | (738,414) | (1,101,956) | 94,330 | |||||||||||
Income taxes | |||||||||||||||||
NET LOSS | 4,500,049 | (1,708,794) | (40,522,680) | (5,057,056) | (12,741,962) | (5,471,649) | |||||||||||
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ 4,500,049 | $ (1,768,629) | $ (40,562,132) | $ (5,236,563) | $ (12,981,962) | $ (6,638,267) | |||||||||||
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS: | |||||||||||||||||
Basic and Diluted | $ 0 | $ 0 | $ (0.01) | $ 0 | $ 0 | $ 0 | |||||||||||
Diluted | $ 0 | $ 0 | $ (0.01) | $ 0 | |||||||||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||||||||||||||||
Basic and Diluted | 6,151,499,919 | 6,062,411,449 | 6,151,499,919 | 5,732,126,399 | 5,881,207,480 | 5,369,618,049 | |||||||||||
Diluted | 21,147,255,067 | 6,062,411,449 | 6,151,499,919 | 5,732,126,399 | |||||||||||||
Health Care, Patient Service [Member] | |||||||||||||||||
REVENUES, NET | $ 16,185,682 | $ 14,163,668 | |||||||||||||||
Others Income [Member] | |||||||||||||||||
REVENUES, NET | 6,092 | ||||||||||||||||
Management Service [Member] | |||||||||||||||||
REVENUES, NET | $ 216,068 | ||||||||||||||||
Series E Preferred Stock [Member] | |||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Preferred stock dividend and deemed dividend | |||||||||||||||||
Series E Preferred Stock [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Preferred stock dividend and deemed dividend | (39,890) | $ (26,301) | $ (119,671) | $ (160,000) | $ (159,890) | ||||||||||||
Series F Preferred Stock [Member] | |||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Preferred stock dividend and deemed dividend | |||||||||||||||||
Series F Preferred Stock [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||||||
Preferred stock dividend and deemed dividend | $ (19,945) | $ (13,151) | $ (59,836) | $ (80,000) | $ (1,006,728) | ||||||||||||
[1]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15)[2]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Common Stock [Member] Theralink Technologies Inc [Member] | Common Stock [Member] Theralink Technologies Inc [Member] Series C One Preferred Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] Theralink Technologies Inc [Member] | Retained Earnings [Member] | Retained Earnings [Member] Theralink Technologies Inc [Member] | Total | Theralink Technologies Inc [Member] | Preferred Stock [Member] Theralink Technologies Inc [Member] | Preferred Stock [Member] Theralink Technologies Inc [Member] Series C One Preferred Stock [Member] | Preferred Stock [Member] Theralink Technologies Inc [Member] Series C Two Preferred Stock [Member] | Preferred Stock [Member] Theralink Technologies Inc [Member] Series A Preferred Stock [Member] | ||
Balance at Sep. 30, 2020 | $ 512,416 | $ 42,367,577 | $ (43,187,588) | $ (307,595) | |||||||||||
Balance, shares at Sep. 30, 2020 | 5,124,164,690 | 2,966 | 4,917 | 667 | |||||||||||
Net loss | (5,471,649) | (5,471,649) | |||||||||||||
Series E preferred stock dividend | (159,890) | (159,890) | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 984,200 | 984,200 | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 15,800 | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | |||||||||||||||
Adjustment related to Series A preferred prior period redemption payment | 500 | 500 | |||||||||||||
Beneficial conversion feature related to a convertible note - related party recorded as debt discount | 15,800 | 15,800 | |||||||||||||
Series F preferred stock dividend | (6,728) | (6,728) | |||||||||||||
Beneficial conversion feature related to issuance of Series F preferred stock | 42,808 | (42,808) | |||||||||||||
Relative fair value of warrant issued in connection with the sale Series F preferred stock | 957,192 | (957,192) | |||||||||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | |||||||||||
Balance, shares at Sep. 30, 2021 | 5,124,164,690 | 2,966 | 4,917 | 667 | |||||||||||
Balance at Dec. 31, 2020 | $ 425 | $ 25,477,416 | $ (17,664,687) | $ 7,813,154 | |||||||||||
Balance, shares at Dec. 31, 2020 | [1] | 424,902 | |||||||||||||
Correction for rounding error | $ 449 | 20,527,850 | 20,528,299 | ||||||||||||
Issuance of common stock, shares | [1] | 449,037 | |||||||||||||
Accretion of stock-option expense | 153,855 | 153,855 | |||||||||||||
Net loss | (10,542,247) | (10,542,247) | |||||||||||||
Correction for rounding error, shares | [1] | (449,037) | |||||||||||||
Balance at Dec. 31, 2021 | $ 874 | $ 512,416 | 46,159,121 | 46,020,285 | (28,206,934) | (51,398,615) | 17,953,061 | (4,865,914) | |||||||
Balance, shares at Dec. 31, 2021 | 873,939 | [2] | 5,124,163,254 | 2,966 | 4,917 | 667 | |||||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | |||||||||||
Balance, shares at Sep. 30, 2021 | 5,124,164,690 | 2,966 | 4,917 | 667 | |||||||||||
Correction for rounding error | |||||||||||||||
Issuance of common stock, shares | 1,436 | ||||||||||||||
Net loss | (1,512,267) | (1,512,267) | |||||||||||||
Series E preferred stock dividend | (40,329) | (40,329) | |||||||||||||
Series F preferred stock dividend | (20,164) | (20,164) | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 661,088 | 661,088 | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes recorded as debt discount | 991,120 | 991,120 | |||||||||||||
Correction for rounding error, shares | (1,436) | ||||||||||||||
Balance at Dec. 31, 2021 | $ 874 | $ 512,416 | 46,159,121 | 46,020,285 | (28,206,934) | (51,398,615) | 17,953,061 | (4,865,914) | |||||||
Balance, shares at Dec. 31, 2021 | 873,939 | [2] | 5,124,163,254 | 2,966 | 4,917 | 667 | |||||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | |||||||||||
Balance, shares at Sep. 30, 2021 | 5,124,164,690 | 2,966 | 4,917 | 667 | |||||||||||
Net loss | (5,057,056) | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | ||||||||||||||
Balance at Jun. 30, 2022 | $ 910 | $ 615,150 | 47,307,008 | 49,333,767 | (33,213,158) | (55,062,418) | 14,094,760 | (5,113,501) | |||||||
Balance, shares at Jun. 30, 2022 | 909,664 | [2] | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | |||||||||||
Balance, shares at Sep. 30, 2021 | 5,124,164,690 | 2,966 | 4,917 | 667 | |||||||||||
Accretion of stock-option expense | 6,015,622 | 6,015,622 | |||||||||||||
Net loss | (12,741,962) | (12,741,962) | |||||||||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock | $ 28,864 | (28,864) | |||||||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | 288,637,529 | 288,637,529 | (1,923) | ||||||||||||
Series E preferred stock dividend | (160,000) | (160,000) | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 1,266,471 | 1,266,471 | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes recorded as debt discount | 2,330,458 | 2,330,458 | |||||||||||||
Issuance of common stock in connection with conversion of Series C-2 preferred stock | $ 28,048 | (28,048) | |||||||||||||
Issuance of common stock in connection with conversion of series C-2 preferred stock, shares | 280,475,491 | (1,880) | |||||||||||||
Issuance of common stock in connection with settlement of accounts payable | $ 2,691 | 81,549 | 84,240 | ||||||||||||
Issuance of common stock in connection with settlement of accounts payable, shares | 26,913,738 | ||||||||||||||
Issuance of common stock in connection with subscriptions payable | $ 43,131 | 1,306,869 | 1,350,000 | ||||||||||||
Issuance of common stock in connection with subscriptions payable, shares | 431,309,907 | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | 44,858 | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | ||||||||||||||
Series F preferred stock dividend | (80,000) | (80,000) | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | 34,620 | |||||||||||||
Correction for rounding error | |||||||||||||||
Correction for rounding error, shares | (1,436) | ||||||||||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | |||||||||||
Balance, shares at Sep. 30, 2022 | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||||
Balance at Dec. 31, 2021 | $ 874 | $ 512,416 | 46,159,121 | 46,020,285 | (28,206,934) | (51,398,615) | 17,953,061 | (4,865,914) | |||||||
Balance, shares at Dec. 31, 2021 | 873,939 | [2] | 5,124,163,254 | 2,966 | 4,917 | 667 | |||||||||
Correction for rounding error | $ 6 | 148,554 | 148,560 | ||||||||||||
Issuance of common stock, shares | [2] | 5,567 | |||||||||||||
Accretion of stock-option expense | 32,587 | 32,587 | |||||||||||||
Net loss | (3,162,125) | (1,835,995) | (3,162,125) | (1,835,995) | |||||||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock | $ 16,364 | (16,364) | |||||||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | 163,637,529 | (1,090) | |||||||||||||
Series E preferred stock dividend | (39,452) | (39,452) | |||||||||||||
Series F preferred stock dividend | (19,727) | (19,727) | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 331,969 | 331,969 | |||||||||||||
Correction for rounding error, shares | [2] | (5,567) | |||||||||||||
Issuance of common stock in connection with conversion of Series C-2 preferred stock | $ 28,048 | (28,048) | |||||||||||||
Issuance of common stock in connection with conversion of series C-2 preferred stock, shares | 280,475,491 | (1,880) | |||||||||||||
Issuance of common stock in connection with settlement of accounts payable | $ 2,691 | 81,549 | 84,240 | ||||||||||||
Issuance of common stock in connection with settlement of accounts payable, shares | 26,913,738 | ||||||||||||||
Issuance of common stock in connection with subscriptions payable | $ 43,131 | 1,306,869 | 1,350,000 | ||||||||||||
Issuance of common stock in connection with subscriptions payable, shares | 431,309,907 | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 996,708 | 996,708 | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | 34,620 | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | 44,858 | |||||||||||||
Balance at Mar. 31, 2022 | $ 880 | $ 602,650 | 46,340,262 | 48,772,446 | (31,369,059) | (53,293,789) | 14,972,083 | (3,918,693) | |||||||
Balance, shares at Mar. 31, 2022 | 879,506 | [2] | 6,026,499,919 | 1,876 | 3,037 | 667 | |||||||||
Balance at Dec. 31, 2021 | $ 874 | $ 512,416 | 46,159,121 | 46,020,285 | (28,206,934) | (51,398,615) | 17,953,061 | (4,865,914) | |||||||
Balance, shares at Dec. 31, 2021 | 873,939 | [2] | 5,124,163,254 | 2,966 | 4,917 | 667 | |||||||||
Net loss | (5,006,224) | ||||||||||||||
Balance at Jun. 30, 2022 | $ 910 | $ 615,150 | 47,307,008 | 49,333,767 | (33,213,158) | (55,062,418) | 14,094,760 | (5,113,501) | |||||||
Balance, shares at Jun. 30, 2022 | 909,664 | [2] | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||
Balance at Dec. 31, 2021 | $ 874 | $ 512,416 | 46,159,121 | 46,020,285 | (28,206,934) | (51,398,615) | 17,953,061 | (4,865,914) | |||||||
Balance, shares at Dec. 31, 2021 | 873,939 | [2] | 5,124,163,254 | 2,966 | 4,917 | 667 | |||||||||
Correction for rounding error | $ 224 | 4,915,707 | 4,915,931 | ||||||||||||
Issuance of common stock, shares | [1] | 223,904 | |||||||||||||
Accretion of stock-option expense | 95,070 | 95,070 | |||||||||||||
Net loss | (18,312,806) | (18,312,806) | |||||||||||||
Correction for rounding error, shares | [1] | (223,904) | |||||||||||||
Balance at Dec. 31, 2022 | $ 1,098 | $ 615,150 | 51,169,898 | 54,385,547 | (46,519,740) | (99,303,616) | 4,651,256 | (44,302,919) | |||||||
Balance, shares at Dec. 31, 2022 | 1,097,843 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Mar. 31, 2022 | $ 880 | $ 602,650 | 46,340,262 | 48,772,446 | (31,369,059) | (53,293,789) | 14,972,083 | (3,918,693) | |||||||
Balance, shares at Mar. 31, 2022 | 879,506 | [2] | 6,026,499,919 | 1,876 | 3,037 | 667 | |||||||||
Correction for rounding error | $ 30 | 935,632 | 935,662 | ||||||||||||
Issuance of common stock, shares | [2] | 30,158 | |||||||||||||
Accretion of stock-option expense | 31,114 | 31,114 | |||||||||||||
Net loss | (1,844,099) | (1,708,794) | (1,844,099) | (1,708,794) | |||||||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock | $ 12,500 | (12,500) | |||||||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | 125,000,000 | (833) | |||||||||||||
Series E preferred stock dividend | (39,890) | (39,890) | |||||||||||||
Series F preferred stock dividend | (19,945) | (19,945) | |||||||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 238,228 | 238,228 | |||||||||||||
Correction for rounding error, shares | [2] | (30,158) | |||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 335,593 | 335,593 | |||||||||||||
Balance at Jun. 30, 2022 | $ 910 | $ 615,150 | 47,307,008 | 49,333,767 | (33,213,158) | (55,062,418) | 14,094,760 | (5,113,501) | |||||||
Balance, shares at Jun. 30, 2022 | 909,664 | [2] | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | |||||||||||
Balance, shares at Sep. 30, 2022 | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||||
Accretion of stock-option expense | 612,173 | 612,173 | |||||||||||||
Net loss | (36,456,347) | (36,456,347) | |||||||||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock | (1,618,238) | (1,618,238) | |||||||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | (902) | (3,037) | |||||||||||||
Series E preferred stock dividend | (26,301) | (26,301) | |||||||||||||
Series F preferred stock dividend | (13,151) | (13,151) | |||||||||||||
Balance at Dec. 31, 2022 | $ 1,098 | $ 615,150 | 51,169,898 | 54,385,547 | (46,519,740) | (99,303,616) | 4,651,256 | (44,302,919) | |||||||
Balance, shares at Dec. 31, 2022 | 1,097,843 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | |||||||||||
Balance, shares at Sep. 30, 2022 | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||||
Balance at Mar. 31, 2023 | $ 51,214,247 | $ 615,150 | 51,214,247 | 54,922,612 | (50,218,393) | (107,869,998) | 996,955 | (52,332,236) | |||||||
Balance, shares at Mar. 31, 2023 | 1,100,568 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | |||||||||||
Balance, shares at Sep. 30, 2022 | 6,151,499,919 | 1,043 | 3,037 | 667 | |||||||||||
Net loss | (40,522,680) | ||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | |||||||||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | |||||||||||||||
Balance at Jun. 30, 2023 | $ 1,109 | $ 615,150 | 51,261,621 | 55,255,860 | (51,621,700) | (103,369,949) | (358,970) | (47,498,939) | |||||||
Balance, shares at Jun. 30, 2023 | 1,109,335 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Dec. 31, 2022 | $ 1,098 | $ 615,150 | 51,169,898 | 54,385,547 | (46,519,740) | (99,303,616) | 4,651,256 | (44,302,919) | |||||||
Balance, shares at Dec. 31, 2022 | 1,097,843 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Correction for rounding error | $ 3 | 16,647 | 16,650 | ||||||||||||
Issuance of common stock, shares | [2] | 2,725 | |||||||||||||
Accretion of stock-option expense | 27,702 | 537,065 | 27,702 | 537,065 | |||||||||||
Net loss | (3,698,653) | (8,566,382) | (3,698,653) | (8,566,382) | |||||||||||
Correction for rounding error, shares | [2] | (2,725) | |||||||||||||
Balance at Mar. 31, 2023 | $ 51,214,247 | $ 615,150 | 51,214,247 | 54,922,612 | (50,218,393) | (107,869,998) | 996,955 | (52,332,236) | |||||||
Balance, shares at Mar. 31, 2023 | 1,100,568 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Dec. 31, 2022 | $ 1,098 | $ 615,150 | 51,169,898 | 54,385,547 | (46,519,740) | (99,303,616) | 4,651,256 | (44,302,919) | |||||||
Balance, shares at Dec. 31, 2022 | 1,097,843 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Net loss | (5,101,960) | ||||||||||||||
Balance at Jun. 30, 2023 | $ 1,109 | $ 615,150 | 51,261,621 | 55,255,860 | (51,621,700) | (103,369,949) | (358,970) | (47,498,939) | |||||||
Balance, shares at Jun. 30, 2023 | 1,109,335 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Balance at Mar. 31, 2023 | $ 51,214,247 | $ 615,150 | 51,214,247 | 54,922,612 | (50,218,393) | (107,869,998) | 996,955 | (52,332,236) | |||||||
Balance, shares at Mar. 31, 2023 | 1,100,568 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
Correction for rounding error | $ 9 | 47,373 | 47,382 | ||||||||||||
Issuance of common stock, shares | [2] | 8,767 | |||||||||||||
Accretion of stock-option expense | 333,248 | 333,248 | |||||||||||||
Net loss | (1,403,307) | 4,500,049 | (1,403,307) | 4,500,049 | |||||||||||
Correction for rounding error, shares | [2] | (8,767) | |||||||||||||
Balance at Jun. 30, 2023 | $ 1,109 | $ 615,150 | $ 51,261,621 | $ 55,255,860 | $ (51,621,700) | $ (103,369,949) | $ (358,970) | $ (47,498,939) | |||||||
Balance, shares at Jun. 30, 2023 | 1,109,335 | [2] | 6,151,499,919 | 141 | 667 | ||||||||||
[1]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15)[2]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net loss | $ (1,403,307) | $ (1,844,099) | $ (5,101,960) | $ (5,006,224) | $ (18,312,806) | $ (10,542,247) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depreciation and amortization | 119,795 | 438,612 | 309,618 | 885,384 | 1,626,614 | 1,649,187 | ||||
Depreciation on property and equipment and finance ROU assets | 87,000 | 239,000 | 867,364 | 761,034 | ||||||
Non-cash lease cost | ||||||||||
Accretion of stock option expense | ||||||||||
Amortization of debt discount | ||||||||||
Share based compensation | 131,060 | 269,691 | 444,503 | 570,513 | ||||||
Loss on disposition of assets | 1,695,161 | 82,261 | 98,116 | 149,464 | ||||||
Bad debt | 6,795 | 8,333,687 | ||||||||
Impairment loss | ||||||||||
Gain on debt extinguishment | ||||||||||
Unrealized loss on exchange rate | ||||||||||
Gain on dissolution of subsidiary | ||||||||||
Gain on disposal of subsidiary | ||||||||||
Gain on modification of operating lease | ||||||||||
Unrealized loss on marketable securities | ||||||||||
Non-cash settlement expense | ||||||||||
Derivative expense | ||||||||||
Gain on modification of operating lease | ||||||||||
Gain on lease modification | (57,086) | |||||||||
Amortization of debt issuance expense | 312,857 | |||||||||
Change in operating assets and liabilities: | ||||||||||
Accounts receivable | 546,496 | (1,845,684) | (1,671,906) | 304,350 | ||||||
Prepaid expenses and other current assets | ||||||||||
Laboratory supplies | ||||||||||
Accounts payable | ||||||||||
Accrued liabilities and other liabilities | ||||||||||
Contract liabilities | ||||||||||
Other assets | 68,780 | 18,767 | 180,178 | (158,834) | ||||||
Security deposits | 85,304 | 5,231 | 56,620 | 36,357 | ||||||
Right of use/lease liability | (94,532) | (40,541) | (149,631) | (162,797) | ||||||
Accounts payable and accrued expenses | 738,521 | (417,271) | (820,592) | 281,428 | ||||||
Patient deposits | (55,527) | 185,578 | (79,251) | 25,846 | ||||||
NET CASH USED IN OPERATING ACTIVITIES | (1,670,284) | (5,862,808) | (10,294,468) | (7,590,962) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Proceeds from sale of Louisiana Orthopedic operations | 1,050,000 | (256,279) | ||||||||
Purchase of property and equipment | (331,382) | (694,376) | ||||||||
Brand development | (69,070) | |||||||||
Acquisitions | (1,718,500) | |||||||||
Adjustment related to Series A preferred prior period redemption payment | ||||||||||
Proceeds from disposal of a subsidiary | ||||||||||
Proceeds from sale of Ricardo Knight, PC operations | 80,000 | |||||||||
Proceeds from sale of property and equipment | 2,060 | 71,400 | 24,450 | |||||||
NET CASH USED IN INVESTING ACTIVITIES | 1,130,000 | (254,219) | (259,982) | (2,457,496) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Proceeds from sale of common stock | 64,032 | 829,663 | 4,472,219 | 19,005,323 | ||||||
Payments on notes payable | (30,117) | (208,004) | (254,488) | (4,436,375) | ||||||
Proceeds of notes payable - related parties | ||||||||||
Proceeds from sale of preferred stock | ||||||||||
Proceeds from convertible debt - related party | ||||||||||
Deferred offering costs | ||||||||||
Proceeds of notes payable - related party | ||||||||||
Proceeds from convertible debt | ||||||||||
Repayment of convertible notes payable | ||||||||||
Repayment of notes payable - related party | ||||||||||
Repayment of financed lease | ||||||||||
Payments for preferred stock dividends | ||||||||||
Payments on finance lease obligation | (9,840) | (9,422) | (19,050) | (25,462) | ||||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 24,075 | 612,237 | 4,198,681 | 14,543,486 | ||||||
NET CHANGE IN CASH | (516,209) | (5,504,790) | (6,355,769) | 4,495,058 | ||||||
CASH, beginning of the year | 763,211 | 7,118,980 | 7,118,980 | 2,623,952 | ||||||
CASH, end of the year | 247,002 | 1,614,190 | $ 247,002 | $ 1,614,190 | $ 247,002 | $ 1,614,190 | 763,211 | 7,118,980 | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||
Cash paid during the period for: | ||||||||||
Interest | $ 24,826 | $ 8,864 | 14,191 | 239,011 | ||||||
Income taxes | ||||||||||
Non-cash investing and financing activities: | ||||||||||
Business acquisition via stock issuance | $ 1,200,000 | |||||||||
Theralink Technologies Inc [Member] | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net loss | 4,500,049 | (1,708,794) | (40,522,680) | (5,057,056) | $ (12,741,962) | $ (5,471,649) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depreciation and amortization | 40,586 | 36,825 | 122,098 | 108,754 | 144,411 | 139,362 | ||||
Depreciation on property and equipment and finance ROU assets | 156,874 | 143,531 | 190,780 | 185,730 | ||||||
Non-cash lease cost | 18,918 | 21,528 | 28,451 | 1,596 | ||||||
Accretion of stock option expense | 1,482,486 | 6,015,622 | ||||||||
Amortization of debt discount | 10,656,131 | 501,432 | 738,521 | 64,981 | ||||||
Share based compensation | 333,248 | 1,482,486 | 6,015,622 | |||||||
Bad debt | 10,172 | 39,426 | ||||||||
Impairment loss | 238,671 | 238,671 | ||||||||
Gain on debt extinguishment | 5,434,447 | (227,294) | ||||||||
Unrealized loss on exchange rate | 22,686 | |||||||||
Gain on dissolution of subsidiary | (9,916) | |||||||||
Gain on disposal of subsidiary | (1,000) | |||||||||
Gain on modification of operating lease | (8,229) | |||||||||
Unrealized loss on marketable securities | 100 | 5,500 | 2,900 | 8,600 | 7,300 | 100 | ||||
Non-cash settlement expense | 200,000 | |||||||||
Derivative expense | 16,442,350 | |||||||||
Gain on modification of operating lease | (8,229) | |||||||||
Change in operating assets and liabilities: | ||||||||||
Accounts receivable | 6,953 | (109,380) | (35,957) | |||||||
Prepaid expenses and other current assets | 32,525 | 27,882 | (8,559) | (37,732) | ||||||
Laboratory supplies | 71,062 | 71,062 | 273 | |||||||
Accounts payable | 384,200 | (385,860) | (191,125) | 415,190 | ||||||
Accrued liabilities and other liabilities | 1,081,380 | 158,335 | 483,575 | 140,955 | ||||||
Contract liabilities | 103,890 | 167,522 | 21,400 | 135,150 | ||||||
NET CASH USED IN OPERATING ACTIVITIES | (4,270,783) | (4,460,633) | (5,389,695) | (4,780,930) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Purchase of property and equipment | (7,980) | (88,199) | (131,611) | (135,702) | ||||||
Adjustment related to Series A preferred prior period redemption payment | 500 | |||||||||
Proceeds from disposal of a subsidiary | 1,000 | |||||||||
NET CASH USED IN INVESTING ACTIVITIES | (7,980) | (88,199) | (131,611) | (134,202) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Proceeds from sale of common stock | 1,350,000 | |||||||||
Proceeds of notes payable - related parties | 442,681 | 400,000 | ||||||||
Proceeds from sale of preferred stock | 1,000,000 | |||||||||
Proceeds from convertible debt - related party | 3,150,000 | 1,000,000 | ||||||||
Deferred offering costs | (27,270) | |||||||||
Proceeds of notes payable - related party | 677,562 | 1,900,000 | 400,000 | 100,000 | ||||||
Proceeds from convertible debt | 2,950,011 | 2,425,000 | 2,475,000 | |||||||
Repayment of convertible notes payable | (150,000) | |||||||||
Repayment of notes payable - related party | (120,000) | (150,000) | ||||||||
Repayment of financed lease | (39,862) | (35,242) | (47,730) | |||||||
Payments for preferred stock dividends | (179,660) | (199,385) | ||||||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 3,910,392 | 4,360,098 | 5,600,615 | 3,450,000 | ||||||
NET CHANGE IN CASH | (368,371) | (188,734) | 79,309 | (1,465,132) | ||||||
CASH, beginning of the year | 393,460 | 314,151 | 314,151 | 1,779,283 | ||||||
CASH, end of the year | $ 25,089 | $ 125,417 | $ 25,089 | $ 125,417 | 25,089 | 125,417 | 393,460 | 314,151 | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||
Interest | 6,824 | 100,025 | 117,301 | |||||||
Income taxes | ||||||||||
Non-cash investing and financing activities: | ||||||||||
Series E preferred stock dividend | 26,301 | 119,671 | 160,000 | 159,890 | ||||||
Series F preferred stock dividend | 13,151 | 59,836 | 80,000 | 6,728 | ||||||
Initial amount of operating ROU asset and related liability | 1,212,708 | 1,212,708 | ||||||||
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 1,231,285 | 1,266,471 | 984,200 | |||||||
Relative fair value of warrant issued in connection with convertible notes recorded as debt discount | 2,323,421 | 2,330,458 | ||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | 34,620 | 15,800 | |||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | 44,858 | ||||||||
Initial fair value of derivative liabilities recorded as debt discount - related parties | 8,978,284 | |||||||||
Initial fair value of derivative liabilities recorded as debt discount | 8,063,816 | |||||||||
Exchange of preferred stock and accrued dividends for convertible debt - related parties | 3,099,945 | |||||||||
Exchange of preferred stock for convertible debt | 1,618,238 | |||||||||
Exchange of accrued interest payable for convertible debt - related parties | 129,079 | |||||||||
Exchange of accrued interest payable for convertible debt | $ 173,375 | |||||||||
Beneficial conversion feature related to a convertible note - related party recorded as debt discount | ||||||||||
Beneficial conversion feature related to issuance of Series F preferred stock | 42,808 | |||||||||
Relative fair value of warrant issued in connection with the sale Series F preferred stock | $ 957,192 |
Description of Business
Description of Business | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Description of Business | Note 1 – Description of Business IMAC Holdings, Inc. is a holding company for IMAC Regeneration Centers and our Investigational New Drug division. IMAC Holdings, Inc. and its affiliates (collectively, the “Company”) provide movement, orthopedic and neurological therapies through its chain of IMAC Regeneration Centers. Through its consolidated and equity owned entities, its outpatient medical clinics provide conservative, non-invasive medical treatments to help patients with back pain, knee pain, joint pain, ligament and tendon damage, and other related soft tissue conditions. As of June 30, 2023, the Company had owned or operated through management service agreements three medical clinics located in Kentucky and Missouri. The Company delivers sports medicine treatments without opioids. The Company’s Investigational New Drug division is conducting a clinical trial for its investigational compound utilizing umbilical cord-derived allogenic mesenchymal stem cells for the treatment of bradykinesia due to Parkinson’s disease. As outlined in Note 2, given the Company’s current financial position, during the first six months of 2023 the Company decided to close five underperforming locations and sold its Louisiana Orthopedic and Illinois practices as well as The BackSpace, LLC operations in an effort to raise sufficient capital to support on-going operations. Management has been actively exploring various strategic alternatives in an effort to support operations in 2023 and beyond. On May 23, 2023, IMAC Holdings, Inc., a Delaware corporation (Nasdaq: BACK) (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Theralink Technologies, Inc. (OTC: THER), a Nevada corporation (“Theralink”), and IMAC Merger Sub, Inc., a Delaware corporation and a newly formed, wholly owned subsidiary of the Company (“Merger Sub”). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Theralink (the “Merger”), with Theralink continuing as the surviving entity (the “Surviving Entity”) and a wholly owned subsidiary of the Company. On May 22, 2023, the board of directors of the Company, and the board of directors of Theralink unanimously approved the Merger Agreement. At the effective time of the Merger (the “Effective Time”), each share of Theralink’s common stock (“Theralink Common Stock”) and each share of Theralink’s preferred stock (together with the Theralink Common Stock, “Theralink Shares”) issued and outstanding as of immediately prior to the Effective Time will be converted into and will thereafter represent the right to receive a portion of a share of the Company’s common stock (the “Company Shares”) such that the total number of Company Shares issued to the holders of Theralink Shares shall equal 85% of the total number of Company Shares outstanding as of the Effective Time (the “Merger Consideration”). At the Effective Time, each award of Theralink stock options (each, a “Theralink Stock Option”), whether or not then vested or exercisable, that is outstanding immediately prior to the Effective Time, will be assumed by the Company and converted into a stock option relating to a number of Company Shares equal to the product of: (i) the number of shares of Theralink Common Stock subject to such Theralink Stock Option; and (ii) the ratio which results from dividing one share of Theralink Common Stock by the portion of a Company Share issuable for such share as finally determined at the Effective Time (the “Exchange Ratio”), at an exercise price per Company Share (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (A) the exercise price per share of Theralink Common Stock of such Theralink Stock Option by (B) the Exchange Ratio. The Company and Theralink have each agreed, subject to certain exceptions with respect to unsolicited proposals, not to directly or indirectly solicit competing acquisition proposals or to enter into discussions concerning, or provide confidential information in connection with, any unsolicited alternative acquisition proposals. However, if such party receives an unsolicited, bona fide acquisition proposal that did not result from a material breach of the non-solicitation provisions of the Merger Agreement and the Company’s or Theralink’s board of directors, or any committee thereof, as applicable, concludes, after consultation with its financial advisors and outside legal counsel, that such unsolicited, bona fide acquisition proposal constitutes, or could reasonably be expected to result in, a superior offer, such party may furnish non-public information regarding it or any of its subsidiaries and engage in discussions and negotiations with such third party in response to such unsolicited, bona fide acquisition proposal; provided The completion of the Merger is subject to the satisfaction or waiver of customary closing conditions, including: (i) adoption of the Merger Agreement by holders of a majority of the outstanding Theralink Shares; (ii) approval of the issuance of Company Shares in connection with the Merger by a majority of the outstanding shares of the Company’s common stock; (iii) absence of any court order or regulatory injunction prohibiting completion of the Merger; (iv) expiration or termination of (a) all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) and (b) any agreement with any governmental entity not to consummate the transactions contemplated by the Merger Agreement; (v) effectiveness of the Company’s registration statement on Form S-4 to register the Company Shares to be issued in the Merger; (vi) subject to specified materiality standards, the accuracy of the representations and warranties of the other party; (vii) the authorization for listing of Company Shares to be issued in the Merger on Nasdaq; (viii) compliance by the other party in all material respects with its covenants; and (ix) the completion of satisfactory due diligence by both parties. The Company and Theralink have each made customary representations and warranties in the Merger Agreement. The Merger Agreement also contains customary covenants and agreements, including covenants and agreements relating to (i) the conduct of each of the Company’s and Theralink’s business between the date of the signing of the Merger Agreement and the closing date of the Merger and (ii) the efforts of the parties to cause the Merger to be completed, including actions which may be necessary to cause the expiration or termination of any waiting periods under the HSR Act. The Merger Agreement is attached hereto as Exhibit 2.1 and is incorporated by reference. The foregoing summary has been included to provide investors and security holders with information regarding the terms of the Merger Agreement and is qualified in its entirety by the terms and conditions of the Merger Agreement. It is not intended to provide any other factual information about the Company, Theralink or their respective subsidiaries and affiliates. The Merger Agreement contains representations and warranties by each of the parties to the Merger Agreement, which were made only for purposes of the Merger Agreement and as of specified dates. The representations, warranties and covenants in the Merger Agreement (i) were made solely for the benefit of the parties to the Merger Agreement; (ii) may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Merger Agreement instead of establishing these matters as facts; and (iii) may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company, Theralink or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the Company’s or Theralink’s public disclosures. | Description of Business IMAC Holdings, Inc. is a holding company for IMAC Regeneration Centers, The Back Space retail stores and our Investigational New Drug division. IMAC Holdings, Inc. and its affiliates (collectively, the “Company”) provide movement, orthopedic and neurological therapies through its chain of IMAC Regeneration Centers. Through its consolidated and equity owned entities, its outpatient medical clinics provide conservative, non-invasive medical treatments to help patients with back pain, knee pain, joint pain, ligament and tendon damage, and other related soft tissue conditions. As of December 31, 2022, the Company had opened or acquired through management service agreements ten (10) medical clinics located in Florida, Illinois, Kentucky, Louisiana and Missouri. The Company has partnered with several well-known sports stars such as Ozzie Smith and Tony Delk in opening its medical clinics, with a focus on delivering sports medicine treatments without opioids. As of December 31, 2022, The BackSpace, LLC had opened ten retail clinic locations in Florida, Missouri and Tennessee. The BackSpace operated healthcare centers specializing in chiropractic and spinal care services inside Walmart retail locations. The Company’s Investigational New Drug division is conducting a clinical trial for its investigational compound utilizing umbilical cord-derived allogenic mesenchymal stem cells for the treatment of bradykinesia due to Parkinson’s disease. As outlined in Note 15, given the Company’s current financial position, during the first quarter of 2023 the Company decided to close four underperforming locations and sold its Louisiana Orthopedic practice as well as The BackSpace, LLC operations in an effort to raise sufficient capital to support on-going operations. Management has been actively exploring various strategic alternatives in an effort to support operations in 2023 and beyond. | ||
Theralink Technologies Inc [Member] | ||||
Description of Business | NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS Description of Business Theralink Technologies, Inc., formerly OncBioMune Pharmaceuticals, Inc. (the “Company”), was a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary vaccine technology. On June 5, 2020, the Company acquired the assets (the “Asset Sale Transaction”) of Avant Diagnostics, Inc., a Nevada corporation established in 2009 (“Avant”) pursuant to the Asset Purchase Agreement dated May 12, 2020, between the Company and Avant (the “Asset Purchase Agreement”). Avant was a commercial-stage precision medicine and molecular data-generating company that focuses on the development and commercialization of a series of patented, proprietary data-generating assays that may provide important actionable information for physicians and patients, as well as biopharmaceutical companies, in the area of oncology. Pursuant to the Asset Purchase Agreement, the Company acquired substantially all the assets of Avant and assumed certain of its liabilities. Upon the terms and subject to the conditions of the Asset Purchase Agreement, Avant sold to the Company, all of Avant’s title and interest in all the assets, properties and rights of every kind and nature, whether real, personal or mixed, tangible or intangible (including goodwill), wherever located and whether existing or hereafter acquired, except for the specific excluded assets, which relate to, or are used or held for use in connection with, Avant’s business. The Company also hired Avant’s employees upon consummation of the Asset Sale Transaction. As consideration for the Asset Sale Transaction, the Company issued to Avant 1,000 54.55 6,666,667 12,000,000,000 5,081,549,184 . 54.55 On July 11, 2021, the Company’s wholly-owned subsidiary, OncBioMune, LLC, was administratively dissolved by the Louisiana Secretary of State for failing to meet its filing requirements and pay the associated fees. In connection with the Asset Sale Transaction, the Company entered into an Exchange Agreement, effective June 5, 2020, by and among OncBioMune Pharmaceuticals, Inc. and the investors named therein, whereby the Company agreed to exchange certain convertible promissory notes and warrants outstanding for shares of Series C-1 Convertible Preferred Stock of the Company and options to purchase shares of the Company’s wholly-owned subsidiary, OncBioMune Sub Inc. OncBioMune Sub Inc. holds the patents used in the prior business of OncBioMune Pharmaceuticals, Inc. In July 2021, certain of those investors exercised their options to purchase the shares of OncBioMune Sub Inc. On July 26, 2021, the Company transferred all 10,000 1,000 On February 25, 2022, FINRA recognized the Company’s name change to Theralink Technologies, Inc. and the related ticker symbol change from “OBMP” to “THER” went into effect. On May 23, 2023, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with IMAC Holdings, Inc. (“IMAC”) and IMAC Merger Sub, Inc., a newly formed, wholly owned subsidiary of IMAC (“Merger Sub”). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Theralink (the “Merger”), with Theralink continuing as a wholly owned subsidiary of IMAC. The board of directors of IMAC, and the Company’s Board of Directors unanimously approved the Merger Agreement. Under the terms of the Merger Agreement, upon completion of the Merger, each share of our common stock and each share of our preferred stock issued and outstanding as of immediately prior to completion of the Merger will be converted into and will thereafter represent the right to receive a portion of a share of common stock of IMAC, par value $ 0.001 IMAC Shares 85 | NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS Description of Business Theralink Technologies, Inc., formerly OncBioMune Pharmaceuticals, Inc. (the “Company”), was a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary vaccine technology. On June 5, 2020, the Company acquired the assets (the “Asset Sale Transaction”) of Avant Diagnostics, Inc., a Nevada corporation established in 2009 (“Avant”) pursuant to the Asset Purchase Agreement dated May 12, 2020, between the Company and Avant (the “Asset Purchase Agreement”). Avant is a commercial-stage precision medicine and molecular data-generating company that focuses on the development and commercialization of a series of patented, proprietary data-generating assays that may provide important actionable information for physicians and patients, as well as biopharmaceutical companies, in the area of oncology. Pursuant to the Asset Purchase Agreement, the Company acquired substantially all of the assets of Avant and assumed certain of its liabilities. Upon the terms and subject to the conditions of the Asset Purchase Agreement, Avant sold to the Company, all of Avant’s title and interest in all the assets, properties and rights of every kind and nature, whether real, personal or mixed, tangible or intangible (including goodwill), wherever located and whether existing or hereafter acquired, except for the specific excluded assets, which relate to, or are used or held for use in connection with, Avant’s business. The Company also hired Avant’s employees upon consummation of the Asset Sale Transaction. As consideration for the Asset Sale Transaction, the Company issued to Avant 1,000 54.55 6,666,667 12,000,000,000 5,081,549,184 . 54.55 On July 11, 2021, the Company’s wholly-owned subsidiary, OncBioMune, LLC, was administratively dissolved by the Louisiana Secretary of State for failing to meet its filing requirements and pay the associated fees (see Note 3). In connection with the Asset Sale Transaction, the Company entered into an Exchange Agreement, effective June 5, 2020, by and among OncBioMune Pharmaceuticals, Inc. and the investors named therein, whereby the Company agreed to exchange certain convertible promissory notes and warrants outstanding for shares of Series C-1 Convertible Preferred Stock of the Company and options to purchase shares of the Company’s wholly-owned subsidiary, OncBioMune Sub Inc. OncBioMune Sub Inc. holds the patents used in the prior business of OncBioMune Pharmaceuticals, Inc. In July 2021, certain of those investors exercised their options to purchase the shares of OncBioMune Sub Inc. On July 26, 2021, the Company transferred all 10,000 1,000 On February 25, 2022, FINRA recognized the Company’s name change to Theralink Technologies, Inc. and the related ticker symbol change from “OBMP” to “THER” went into effect. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying condensed consolidated financial statements include the accounts of IMAC Holdings, Inc. and the following entities which are consolidated due to direct ownership of a controlling voting interest or other rights granted to us as the sole general partner or managing member of the entity: IMAC Regeneration Center of St. Louis, LLC (“IMAC St. Louis”), IMAC Management Services, LLC (“IMAC Management”), IMAC Regeneration Management, LLC (“IMAC Texas”) IMAC Regeneration Management of Nashville, LLC (“IMAC Nashville”) IMAC Management of Illinois, LLC (“IMAC Illinois”), Advantage Hand Therapy and Orthopedic Rehabilitation, LLC (“Advantage Therapy”), IMAC Management of Florida, LLC (“IMAC Florida”), Louisiana Orthopaedic & Sports Rehab (“IMAC Louisiana”) and The Back Space, LLC (“BackSpace”); the following entity which is consolidated with IMAC Regeneration Management of Nashville, LLC due to control by contract: IMAC Regeneration Center of Nashville, PC (“IMAC Nashville PC”); the following entities which are consolidated with IMAC Management of Illinois, LLC due to control by contract: Progressive Health and Rehabilitation, Ltd., Illinois Spine and Disc Institute, Ltd. and Ricardo Knight, P.C.; the following entities which is consolidated with IMAC Management Services, LLC due to control by contract: Integrated Medicine and Chiropractic Regeneration Center PSC (“Kentucky PC”) and IMAC Medical of Kentucky PSC (“Kentucky PSC”); the following entities which are consolidated with IMAC Florida due to control by contract: Willmitch Chiropractic, P.A. and IMAC Medical of Florida, P.A.; the following entity which is consolidated with Louisiana Orthopaedic & Sports Rehab due to control by contract: IMAC Medical of Louisiana, a Medical Corporation; and the following entities which are consolidated with BackSpace due to control by contract: ChiroMart LLC, ChiroMart Florida LLC, and ChiroMart Missouri LLC. During January of 2023, the Company closed operations at four underperforming clinic locations: Webster Groves, Lexington, Fort Pierce and Tampa. On January 27, 2023, the Company executed an agreement to sell all assets of IMAC of Louisiana, PC and Louisiana Orthopaedic & Sports Rehab, LLC for a total of $ 1.05 On March 1, 2023, the Company executed an agreement to sale The BackSpace, LLC to Curis Express, LLC. This sale eliminated IMAC Holdings, Inc. retail chiropractic division. In addition, the deal included all associated real estate leases and the rights to certain future potential expansion locations. On April 1 2023, the Company executed an agreement to sell all the assets of Ricardo Knight, PC. During May of 2023, the Company closed operations at Springfield, MO, due to significant staff departures and inflationary pressure on replacement personnel. Most assets were sold in June. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the condensed consolidated financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates. Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified share-based compensation to salaries and benefits. Revenue Recognition The Company’s patient service revenue is derived from non-surgical procedures performed at our outpatient medical clinics. The fees for such services are billed either to the patient or a third-party payer, including Medicare. The Company recognizes service revenues based upon the estimated amounts the Company expects to be entitled to receive from patients and third-party payers. Estimates of contractual adjustments are based upon the payment terms specified in the related contractual agreements. The Company also records estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record these revenues at the estimated amounts expected to be collected. Starting in January 2020, the Company implemented wellness maintenance programs on a subscription basis. There are currently four membership plans offered with different levels of service for each plan. The Company recognizes membership revenue on a monthly basis. Enrollment in the wellness maintenance program can occur at any time during the month and can be dis-enrolled at any time. Starting in June 2021, the Company introduced BackSpace and began offering outpatient chiropractic and spinal care services as well as memberships services in Walmart retail locations. The fees for such services were paid and recognized as incurred. Starting in September 2022, the Company introduced hormone replacement therapy “HRT” and medical weight loss programs. The Company recognizes HRT and medical weight loss revenue as the services are provided. Other management service fees are derived from management services where the Company provides billings and collections support to the clinics and where management services are provided based on state specific regulations known as the corporate practice of medicine (“CPM”). Under the CPM, a business corporation is precluded from practicing medicine or employing a physician to provide professional medical services. In these circumstances, the Company provides all administrative support to the physician-owned PC through a LLC. The PC is consolidated due to control by contract (an “MSA” – Management Services Agreement). The fees we derive from these management arrangements are either based on a predetermined percentage of the revenue of each clinic or a percentage mark up on the costs of the LLC. The company recognizes other management service revenue in the period in which services are rendered. These revenues are earned by IMAC Nashville, IMAC Management, IMAC Illinois, IMAC Florida, IMAC Louisiana and the Back Space and are eliminated in consolidation to the extent owned. Patient Deposits Patient deposits are derived from patient payments in advance of services delivered. Our service lines include traditional and regenerative medicine. Regenerative medicine procedures are rarely paid by insurance carriers; therefore, the Company typically requires up-front payment from the patient for regenerative services and any co-pays and deductibles as required by the patient specific insurance carrier. For some patients, credit is provided through an outside vendor. In this case, the Company is paid from the credit card company and the risk is transferred to the credit card company for collection from the patient. These funds are accounted for as patient deposits until the procedures are performed at which point the patient deposit is recognized as patient service revenue. Fair Value of Financial Instruments The carrying amount of accounts receivable and accounts payable approximate their respective fair values due to the short-term nature. The carrying amount of the line of credit and note payable approximates fair values due to their market interest rates. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Variable Interest Entities Certain states prohibit the “corporate practice of medicine,” which restricts business corporations from practicing medical care by exercising control over clinical decisions by doctors. In states which prohibit the corporate practice of medicine, the Company enters into long-term management agreements with professional corporations (“PCs”) that are owned by licensed doctors, which, in turn employ or contract with doctors who provide professional care in its clinics. Under these management agreements with PCs, the Company provides, on an exclusive basis, all non-clinical services of the practice. The condensed consolidated financial statements include the accounts of variable interest entities (“VIE”) in which the Company is the primary beneficiary under the provisions of the FASB Accounting Standards Codification 810, “ Consolidation Accounts Receivable Accounts receivable primarily consists of amounts due from third-party payers (non-governmental), governmental payers and private pay patients and is recorded net of allowances for doubtful accounts and contractual discounts. The Company’s ability to collect outstanding receivables is critical to its results of operations and cash flows. Accordingly, accounts receivable reported in the Company’s condensed consolidated financial statements is recorded at the net amount expected to be received. The Company’s accounts receivable from third-party payers are recorded net of estimated contractual adjustments and allowances from third-party payers, which are estimated based on the historical trend of the Company’s facilities’ cash collections and contractual write-offs, accounts receivable aging, established fee schedules, relationships with payers and procedure statistics. While changes in estimated reimbursement from third-party payers remain a possibility, the Company expects that any such changes would be minimal and, therefore, would not have a material effect on the Company’s financial condition or results of operations. The Company’s collection policies and procedures are based on the type of payor, size of claim and estimated collection percentage for each patient account. The Company analyzes accounts receivable at each of the facilities to ensure the proper collection and aged category. The operating systems generate reports that assist in the collection efforts by prioritizing patient accounts. Collection efforts include direct contact with insurance carriers or patients and written correspondence. Allowance for Contractual, Other Discounts and Doubtful Accounts Management estimates the allowance for contractual and other discounts based on its historical collection experience and contracted relationship with the payers. The services authorized and provided and related reimbursement are often subject to interpretation and negotiation that could result in payments that differ from the Company’s estimates. In June 2016, the FASB issued Accounting Standards Update (ASU) 2016-13, “Financial Instruments – Credit Losses.” This ASU added a new impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. As a result, the Company changed its accounting policy for allowance for doubtful accounts using an expected losses model rather than using incurred losses. The new model is based on the credit losses expected to arise over the life of the asset based on the Company’s expectations as of the balance sheet date through analyzing historical customer data as well as taking into consideration current economic trends. As a smaller reporting Company pursuant to Rule 12b-2 of the Securities Exchange Act of 1934, as amended, these changes became effective for the Company on January 1, 2023. The adoption of ASU 2016-13 did not have a material financial impact on the Company’s condensed consolidated financial statements. The roll forward of the allowance for doubtful accounts for the six-months ended June 30. 2023 was as follows: Schedule of Allowance for Doubtful Accounts June 30, 2023 (Unaudited) Beginning balance $ 163,479 Bad debt expense 6,795 Write-offs (95,414 ) Ending balance $ 74,860 Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Depreciation of owned assets are computed using the straight-line method over the estimated useful lives and amortization of leasehold improvements are computed using the straight-line method over the shorter of the estimated useful lives of the related assets or the lease term. The cost of assets sold or retired, and the related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in other income (expense) for the year. Expenditures for maintenance and repairs are charged to expense as incurred. Intangible Assets The Company capitalizes the fair value of intangible assets acquired in business combinations. Intangible assets are amortized on a straight-line basis over their estimated economic useful lives, generally the contract term. The Company performs valuations of assets acquired and liabilities assumed on each acquisition accounted for as a business combination and allocates the purchase price of each acquired business to its respective net tangible and intangible assets. The Company records an impairment loss when the carrying amount of the asset is not recoverable and exceeds its fair value. As of June 30, 2023, the Company has sold the assets of the Louisiana market, Illinois market and the BackSpace retail stores. The Louisiana market had a total intangible carrying amount of approximately $ 61,000 265,000 60,000 30,000 Long-Lived Assets Long-lived assets such as property and equipment and intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. There were no Advertising and Marketing The Company uses advertising and marketing to promote its services. Advertising and marketing costs are expensed as incurred. Advertising and marketing expense was approximately $ 37,000 243,000 111,000 613,000 Net Loss Per Share Basic net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is determined using the weighted-average of common shares outstanding during the year, adjusted for the dilutive effect of common stock equivalents, consisting of the conversion option embedded in convertible debt. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized. Newly Adopted Accounting Pronouncement Topic 326 was effective for the Company beginning on January 1, 2023. This update requires a financial asset (or a group of financial assets) measured at amortized cost basis, to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The Company has evaluated the impact of Topic 326 and has determined it does not have a material financial impact. | Note 2 – Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the accounts of IMAC Holdings, Inc. and the following entities which are consolidated due to direct ownership of a controlling voting interest or other rights granted to us as the sole general partner or managing member of the entity: IMAC Regeneration Center of St. Louis, LLC (“IMAC St. Louis”), IMAC Management Services, LLC (“IMAC Management”), IMAC Regeneration Management, LLC (“IMAC Texas”) IMAC Regeneration Management of Nashville, LLC (“IMAC Nashville”) IMAC Management of Illinois, LLC (“IMAC Illinois”), Advantage Hand Therapy and Orthopedic Rehabilitation, LLC (“Advantage Therapy”), IMAC Management of Florida, LLC (“IMAC Florida”), Louisiana Orthopaedic & Sports Rehab (“IMAC Louisiana”) and The Back Space, LLC (“BackSpace”); the following entity which is consolidated with IMAC Regeneration Management of Nashville, LLC due to control by contract: IMAC Regeneration Center of Nashville, PC (“IMAC Nashville PC”); the following entities which are consolidated with IMAC Management of Illinois, LLC due to control by contract: Progressive Health and Rehabilitation, Ltd., Illinois Spine and Disc Institute, Ltd. and Ricardo Knight, P.C.; the following entities which are consolidated with IMAC Management Services, LLC due to control by contract: Integrated Medicine and Chiropractic Regeneration Center PSC (“Kentucky PC”) and IMAC Medical of Kentucky, PSC (“Kentucky PSC”) ; the following entities which are consolidated with IMAC Florida due to control by contract: Willmitch Chiropractic, P.A. and IMAC Medical of Florida, P.A.; the following entity which is consolidated with Louisiana Orthopaedic & Sports Rehab due to control by contract: IMAC Medical of Louisiana, a Medical Corporation; and the following entities which are consolidated with BackSpace due to control by contract: ChiroMart LLC, ChiroMart Florida LLC, and ChiroMart Missouri LLC. In February 2021, the Company completed the asset purchase of and signed a Management Services Agreement with Willmitch Chiropractic, P.A. in Tampa, Florida. In March 2021, the Company completed the asset purchase of NHC Chiropractic, PLLC dba Synergy Healthcare in Orlando, Florida. In June 2021, the Company completed the asset purchase of Fort Pierce Chiropractic in Fort Pierce, Florida and Active Medical Center in Naperville, Illinois. In October 2021, the Company consummated certain transactions resulting in the acquisition of the outstanding equity interest in Louisiana Orthopaedic & Sports Rehab Institute, Inc, an entity which presents the results of Louisiana Medical due to control by contract. These acquisitions are included in the consolidated financial statements from the date of acquisition. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the consolidated financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified share-based compensation to salaries and benefits. Revenue Recognition The Company’s patient service revenue is derived from non-surgical procedures performed at our outpatient medical clinics. The fees for such services are billed either to the patient or a third-party payer, including Medicare. The Company recognizes service revenues based upon the estimated amounts the Company expects to be entitled to receive from patients and third-party payers. Estimates of contractual adjustments are based upon the payment terms specified in the related contractual agreements. The Company also records estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record these revenues at the estimated amounts expected to be collected. Starting in January 2020, the Company implemented wellness maintenance programs on a subscription basis. There are currently four membership plans offered with different levels of service for each plan. The Company recognizes membership revenue on a monthly basis. Enrollment in the wellness maintenance program can occur at any time during the month and can be dis-enrolled at any time. Starting in June 2021, the Company introduced BackSpace and began offering outpatient chiropractic and spinal care services as well as memberships services in Walmart retail locations. The fees for such services are paid and recognized as incurred. Starting in September 2022, the Company introduced hormone replacement therapy “HRT” and medical weight loss programs. The Company recognizes HRT and medical weight loss revenue as the services are provided. Other management service fees are derived from management services where the Company provides billings and collections support to the clinics and where management services are provided based on state specific regulations known as the corporate practice of medicine (“CPM”). Under the CPM, a business corporation is precluded from practicing medicine or employing a physician to provide professional medical services. In these circumstances, the Company provides all administrative support to the physician-owned PC through a LLC. The PC is consolidated due to control by contract (an “MSA” – Management Services Agreement). The fees we derive from these management arrangements are either based on a predetermined percentage of the revenue of each clinic or a percentage mark up on the costs of the LLC. The company recognizes other management service revenue in the period in which services are rendered. These revenues are earned by IMAC Nashville, IMAC Management, IMAC Illinois, IMAC Florida, IMAC Louisiana and the Back Space and are eliminated in consolidation to the extent owned. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) Patient Deposits Patient deposits are derived from patient payments in advance of services delivered. Our service lines include traditional and regenerative medicine. Regenerative medicine procedures are rarely paid by insurance carriers; therefore, the Company typically requires up-front payment from the patient for regenerative services and any co-pays and deductibles as required by the patient specific insurance carrier. For some patients, credit is provided through an outside vendor. In this case, the Company is paid from the credit card company and the risk is transferred to the credit card company for collection from the patient. These funds are accounted for as patient deposits until the procedures are performed at which point the patient deposit is recognized as patient service revenue. Fair Value of Financial Instruments The carrying amount of accounts receivable and accounts payable approximate their respective fair values due to the short-term nature. The carrying amount of the line of credit and note payable approximates fair values due to their market interest rates. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Variable Interest Entities Certain states prohibit the “corporate practice of medicine,” which restricts business corporations from practicing medical care by exercising control over clinical decisions by doctors. In states which prohibit the corporate practice of medicine, the Company enters into long-term management agreements with professional corporations (“PCs”) that are owned by licensed doctors, which, in turn employ or contract with doctors who provide professional care in its clinics. Under these management agreements with PCs, the Company provides, on an exclusive basis, all non-clinical services of the practice. The consolidated financial statements include the accounts of variable interest entities (“VIE”) in which the Company is the primary beneficiary under the provisions of the FASB Accounting Standards Codification 810, “ Consolidation The total assets (excluding goodwill and intangible assets, net) of the consolidated VIEs included in the accompanying consolidated balance sheets as of December 31, 2022 and 2021, were approximately $ 1.8 2.2 0.5 0.6 Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company had no Accounts Receivable Accounts receivable primarily consists of amounts due from third-party payers (non-governmental), governmental payers and private pay patients and is recorded net of allowances for doubtful accounts and contractual discounts. The Company’s ability to collect outstanding receivables is critical to its results of operations and cash flows. Accordingly, accounts receivable reported in the Company’s consolidated financial statements is recorded at the net amount expected to be received. The Company’s accounts receivable from third-party payers are recorded net of estimated contractual adjustments and allowances from third-party payers, which are estimated based on the historical trend of the Company’s facilities’ cash collections and contractual write-offs, accounts receivable aging, established fee schedules, relationships with payers and procedure statistics. While changes in estimated reimbursement from third-party payers remain a possibility, the Company expects that any such changes would be minimal and, therefore, would not have a material effect on the Company’s financial condition or results of operations. The Company’s collection policies and procedures are based on the type of payor, size of claim and estimated collection percentage for each patient account. The Company analyzes accounts receivable at each of the facilities to ensure the proper collection and aged category. The operating systems generate reports that assist in the collection efforts by prioritizing patient accounts. Collection efforts include direct contact with insurance carriers or patients and written correspondence. Allowance for Doubtful Accounts, Contractual and Other Discounts Management estimates the allowance for contractual and other discounts based on its historical collection experience and contracted relationship with the payers. The services authorized and provided and related reimbursement are often subject to interpretation and negotiation that could result in payments that differ from the Company’s estimates. The Company’s allowance for doubtful accounts is based on historical experience, but management also takes into consideration the age of accounts, creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. An account may be written-off only after the Company has pursued collection efforts or otherwise determines an account to be uncollectible. Uncollectible balances are written-off against the allowance. Recoveries of previously written-off balances are applied against operating expenses when the recoveries are made. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Depreciation of owned assets are computed using the straight-line method over the estimated useful lives and amortization of leasehold improvements are computed using the straight-line method over the shorter of the estimated useful lives of the related assets or the lease term. The cost of assets sold or retired, and the related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in other income (expense) for the year. Expenditures for maintenance and repairs are charged to expense as incurred. Intangible Assets The Company capitalizes the fair value of intangible assets acquired in business combinations. Intangible assets are amortized on a straight-line basis over their estimated economic useful lives, generally the contract term. The Company performs valuations of assets acquired and liabilities assumed on each acquisition accounted for as a business combination and allocates the purchase price of each acquired business to its respective net tangible and intangible assets. The Company records an impairment loss when the carrying amount of the asset is not recoverable and exceeds its fair value. In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 2,128,000 1,672,000 1,000 Goodwill Our goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired and liabilities assumed in business combinations. The goodwill generated from the business combinations is primarily related to the value placed on the employee workforce and expected synergies. Judgment is involved in determining if an indicator or change in circumstances relating to impairment has occurred. Such changes may include, among others, a significant decline in expected future cash flows, a significant adverse change in the business climate, and unforeseen competition. The goodwill test is performed at least annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The annual impairment test includes an option to perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying value; the qualitative test may be performed prior to, or as an alternative to, performing a quantitative goodwill impairment test. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company is required to perform the quantitative goodwill impairment test. Otherwise, no further analysis is required. The Company operates under one reporting unit. The quantitative impairment test involves the comparison of the fair value of the reporting unit to the Company’s carrying value. The Company calculates the fair value of each reporting unit using either (i) a discounted cash flows analysis that converts future cash flow amounts into a single discounted present value amount or (ii) a market approach. The Company assesses the valuation methodology based upon the relevance and availability of the data at the time that the valuation is performed. The Company compares the estimate of fair value for the reporting unit to the carrying value of the reporting unit. If the carrying value is greater than the estimate of fair value, an impairment loss will be recognized in the amount of the excess. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) The Company performs its annual impairment test during the fourth quarter of the fiscal year. For the year ended December 31, 2022 the Company elected not to perform a qualitative impairment test and instead went straight to a quantitative assessment. As a result, the Company concluded that it was more-likely-than-not that the carrying value would be greater than the estimated fair value as of December 31, 2022. In addition, given the lack of viable long-term solvency it was determined that it was appropriate to fully impair goodwill. A goodwill impairment loss of $ 4.5 Long-Lived Assets Long-lived assets such as property and equipment, operating lease assets and intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Some of the events or changes in circumstances that would trigger an impairment test include, but are not limited to: ● the Company’s expectation to dispose of long-lived assets before the end of their estimated useful lives, even though the assets do not meet the criteria to be classified as “Held for Sale”; ● significant changes in the Company’s stock price per share; ● significant negative industry or economic trends. In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 Due to a significant drop in share price in the three months ended September 20, 2022, the Company determined that a triggering event occurred. The Company utilized a third-party consultant to perform an impairment test on Management Service Agreements (MSA) in the IMAC Illinois and IMAC Kentucky companies. It was determined that there was an impairment loss of $ 2,128,000 1,672,000 1,000 4.5 Advertising and Marketing The Company uses advertising and marketing to promote its services. Advertising and marketing costs are expensed as incurred. Advertising and marketing expense was approximately $ 1,100,000 1,325,000 Net Loss Per Share Basic net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is determined using the weighted-average of common shares outstanding during the year, adjusted for the dilutive effect of common stock equivalents, consisting of the conversion option embedded in convertible debt. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized. | ||
Theralink Technologies Inc [Member] | ||||
Summary of Significant Accounting Policies | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies Basis of Presentation The accompanying interim unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information, which present the unaudited financial statements of the Company as of June 30, 2023. The interim unaudited financial statements do not include all the information and notes necessary for a comprehensive presentation of financial position and results of operations and should be read in conjunction with the September 30, 2022 audited financial statements on Form 10-K filed on December 29, 2022. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments and non-recurring adjustments) have been made for the fair presentation of the unaudited financial statements. The results for the interim period are not necessarily indicative of the results to be expected for the year ending September 30, 2023. Going Concern These unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had net loss and net cash used in operations of $ 40,522,680 4,270,783 103,369,949 47,498,939 47,854,723 25,089 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes, convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the periods ended June 30, 2023 and 2022 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use ROU assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances, the fair value of derivative liabilities, and the fair value of non-cash equity transactions. Fair Value of Financial Instruments and Fair Value Measurements Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on June 30, 2023. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, contract liabilities, and accrued compensation approximate their fair market value based on the short-term maturity of these instruments. Assets or liabilities measured at fair value on a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on June 30, 2023 and September 30, 2022: Schedule of Fair Value Measured on Recurring Basis June 30, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 33,484,450 $ — $ — $ — A roll forward of the level 3 valuation financial instruments is as follows: Schedule of Valuation on Derivative Instruments 2023 2022 For the Nine Months Ended June 30, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 17,042,100 - Initial valuation of derivative liabilities included in derivative expense 27,438,113 - Change in fair value included in derivative expense (10,995,763 ) - Balance at end of period $ 33,484,450 $ - ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of June 30, 2023 and September 30, 2022 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five years Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. During the nine months ended June 30, 2023 and 2022, revenues by category is as follows: Schedule of Revenues by Category Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Biopharma services $ 305,960 $ 241,843 Patient testing service 121,569 20,845 Total revenues $ 427,529 $ 262,688 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) The revenue recognized from services provided to private individuals during the three and nine months ended June 30, 2023 and 2022 were minimal and therefore were not disaggregated for disclosure purposes. Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. For the nine months ended June 30, 2023 and 2022, contract liabilities activity is as follows: Schedule of Contract Liabilities Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 325,048 Less: revenues recognized during the period (55,575 ) (157,525 ) Total contract liabilities $ 260,440 $ 302,672 During the nine months ended June 30, 2023, the Company recognized $ 55,575 41,500 Cost of Revenue Revenue Recognition The cost of revenue consists of the cost of labor, supplies and materials. Accounts Receivable and Allowance for Doubtful Accounts Allowance for Contractual, Other Discounts and Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. Research and Development In fiscal 2022, the Company joined and made an investment in an investigator-initiated study. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples for the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in September 2021 50,000 100,000 Derivative Liabilities The Company has certain financial instruments that are embedded derivatives associated with capital raises. The Company evaluates all its financial instruments to determine if those contracts or any potential embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10 - Derivative and Hedging - Contract in Entity’s Own Equity Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 0 186,466 Concentration of Revenues For the nine months ended June 30, 2023, the Company generated total revenue of $ 427,529 73.5 26.3 19.3 10.6 17.3 262,688 32 23 17 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Concentration of Accounts Receivable As of June 30, 2023, the Company had net accounts receivable of $ 15,000 100 32,125 59 41 Concentration of Contract Liabilities As of June 30, 2023, the Company had deferred revenue reflected as contract liabilities of $ 260,440 96 156,550 65 24 Concentration of Vendors Historically, the Company relied on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the nine months ended June 30, 2023 and 2022, the Company incurred $ 0 275,372 Basic and Diluted Loss Per Share Net Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following table presents a reconciliation of basic and diluted net income (loss) per common share: Schedule of Basic and Diluted Net Income (loss) Per Common Share 2023 2022 2023 2022 Three Months Ended June 30, Nine Months Ended June 30, 2023 2022 2023 2022 Net income (loss) per common share - basic: Net income (loss) attributable to common shareholders $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Net income (loss) per common share – basic $ 0.00 $ (0.00 ) $ (0.01 ) $ (0.00 ) Net income (loss) per common share - diluted: Net income (loss) attributable to common shareholders - basic $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Add: interest on convertible debt 5,060,163 - - - Less: derivative gain (11,482,036 ) - - - Numerator for loss per common share – diluted $ (1,921,824 ) $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Add: dilutive shares related to: Stock options - - - - Warrants 1,555,920,022 - - - Convertible debt 13,439,835,126 - - - Weighted average common shares outstanding – diluted 21,147,255,067 6,062,411,449 6,151,499,919 5,732,126,399 Net loss per common share – diluted $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.00 ) The following potentially dilutive equity securities outstanding as of June 30, 2023 and 2022 were not included in the computation of dilutive income (loss) per common share because the effect would have been anti-dilutive: Schedule of Anti-dilutive Shares Outstanding 2023 2022 June 30, 2023 2022 Stock warrants 7,244,334,819 1,876,207,963 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 156,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 13,439,835,126 1,417,522,294 Total antidilutive securities excluded from computation of earnings 22,606,747,999 4,861,890,015 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represent the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the unaudited statements of operations. Recent Accounting Pronouncements Newly Adopted Accounting Pronouncement On October 1, 2022, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASC 326). The standard replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. Further, the FASB issued ASU 2019-04 and ASU 2019-05 to provide additional guidance on the credit losses standard. While the adoption of ASC 326 could result in a higher allowance recorded in the future for credit losses on receivables within the scope of the standard due to the prescribed measurement principles, the impact of the adoption on the Company’s consolidated financial statements was not material. Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America which present the consolidated financial statements of the Company and its wholly-owned, inactive subsidiaries, OncBioMune, LLC. (through dissolution date of July 11, 2021) and OncBioMune Sub, Inc. (through sale date of July 26, 2021). All intercompany accounts and transactions have been eliminated in consolidation. Going Concern These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, the Company had net loss and net cash used in operations of $ 12,741,962 5,389,695 62,807,817 6,801,055 2,808,736 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the years ended September 30, 2022 and 2021 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use (“ROU”) assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances and the fair value of non-cash equity transactions. Fair Value of Financial Instruments and Fair Value Measurements Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on September 30, 2022 and 2021. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of September 30, 2022 and 2021 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five years Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by a contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. The revenue recognized from services provided to private individuals during the years ended September 30, 2022 and 2021 were minimal and therefore was not disaggregated for disclosure purposes. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. Contract liabilities as of September 30, 2022 and 2021 are as follows: Schedule of Contract Liabilities September 30, 2022 September 30, 2021 Contract liabilities beginning balance $ 135,150 $ — Billings and cash receipts on uncompleted contracts 325,048 281,012 Less: revenues recognized during the period (303,648 ) (145,862 ) Total contract liabilities $ 156,550 $ 135,150 During the year ended September 30, 2022, the Company recognized $ 303,648 54,600 Cost of Revenue Revenue Recognition The cost of revenue consists of the cost of labor, supplies and materials. Accounts Receivable and Allowance for Doubtful Accounts Allowance for Contractual, Other Discounts and Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. Research and Development The Company joined and made an investment in an investigator-initiated study during the year ended September 30, 2022. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples in the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in January 2022 150,000 0 Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 186,466 68,122 Concentration of Revenues For the year ended September 30, 2022, the Company generated total revenue of $ 567,905 21 15 14 10 505,604 31 12 12 11 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Concentration of Accounts Receivable As of September 30, 2022, the Company had net accounts receivable of $ 32,125 59 41 Concentration of Contract Liabilities As of September 30, 2022, the Company had deferred revenue reflected as contract liabilities of $ 156,550 65 24 135,150 56 24 16 Concentration of Vendors Generally, the Company relies on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the years ended September 30, 2022 and 2021, the Company incurred $ 272,904 860,954 Basic and Diluted Loss Per Share Net Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following potentially dilutive equity securities outstanding as of September 30, 2022 and 2021 were not included in the computation of dilutive loss per common share because the effect would have been anti-dilutive: Schedule of Anti-dilutive Shares Outstanding 2022 2021 September 30, 2022 2021 Stock warrants 1,888,813,005 984,470,116 Stock options 1,901,410,519 - Series C-1 preferred stock 156,626,175 445,301,289 Series C-2 preferred stock 453,067,129 733,542,619 Series E preferred stock 638,977,636 638,977,636 Series F preferred stock 319,488,818 319,488,818 Convertible notes 1,813,880,837 319,488,711 Total antidilutive securities excluded from computation of earnings 7,172,264,119 3,441,269,189 Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represents the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the statements of operations. Recent Accounting Pronouncements Newly Adopted Accounting Pronouncement In August 2020, the FASB issued ASU 2020-06— Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”) Debt with Conversion and Other Options 1. Added a disclosure objective 2. Added information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed 3. Added information on which party controls the conversion rights 4. Aligned disclosure requirements for contingently convertible instruments with disclosure requirements for other convertible instruments 5. Required that existing fair value disclosures in Topic 825, Financial Instruments, be provided at the individual convertible instrument level rather than in the aggregate. Additionally, for convertible debt instruments with substantial premiums accounted for as paid-in capital, amendments in ASU 2020-06 added disclosures about (1) the fair value amount and the level of fair value hierarchy of the entire instrument for public business entities and (2) the premium amount recorded as paid-in capital. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The amendments in ASU 2020-06 are effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Entities should adopt the guidance as of the beginning of its annual fiscal year and are allowed to adopt the guidance through either a modified retrospective method of transition or a fully retrospective method of transition. In applying the modified retrospective method, entities should apply the guidance to transactions outstanding as of the beginning of the fiscal year in which the amendments are adopted. Transactions that were settled (or expired) during prior reporting periods are unaffected. The cumulative effect of the change should be recognized as an adjustment to the opening balance of retained earnings at the date of adoption. If an entity elects the fully retrospective method of transition, the cumulative effect of the change should be recognized as an adjustment to the opening balance of retained earnings in the first comparative period presented. The Company early adopted ASU 2020-06 and its adoption did not have any material impact on the Company’s financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260) Debt-Modifications and Extinguishments (Subtopic 470-50) Compensation-Stock Compensation (Topic 718) Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. |
Capital Requirements, Liquidity
Capital Requirements, Liquidity and Going Concern Considerations | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Capital Requirements, Liquidity and Going Concern Considerations | Note 3 – Capital Requirements, Liquidity and Going Concern Considerations The Company’s condensed consolidated financial statements are prepared in accordance with GAAP and includes the assumption of a going concern basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, as shown in the accompanying condensed consolidated financial statements, the Company has sustained substantial losses from operations since inception. The Company had negative working capital of approximately $ 2.6 0.5 5.1 1.7 Management recognizes that the Company may need to obtain additional resources to successfully implement its business plans. No assurances can be given that we will be successful. If management is not able to timely and successfully raise additional capital if needed, the implementation of the Company’s business plan, financial condition and results of operations will be materially affected. These condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | Note 3 – Capital Requirements, Liquidity and Going Concern Considerations The Company’s consolidated financial statements are prepared in accordance with GAAP and includes the assumption of a going concern basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, as shown in the accompanying consolidated financial statements, the Company has sustained substantial losses from operations since inception which raises substantial doubt regarding the Company’s ability to continue as a going concern. The Company had working capital of approximately $ 0.5 4.1 18.3 10.3 Given the current financial position of the Company, during the first quarter of 2023, management decided to close four underperforming locations and has begun entering into agreements to sell certain elements of their business in an effort to raise sufficient capital to support current operations (see Note 15). Management recognizes that the Company must gain access to additional funding to successfully operate its managed clinics. Management has been actively exploring various strategic alternatives in an effort to support operations in 2023 and beyond. If management is not able to timely and successfully gain access to sufficient capital, the financial condition and results of operations will be materially affected. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Concentration of Credit Risks
Concentration of Credit Risks | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Risks and Uncertainties [Abstract] | ||
Concentration of Credit Risks | Note 4 – Concentration of Credit Risks Cash The Company maintains its cash in accounts at financial institutions, which may, at times, exceed federally-insured limits of $ 250,000 Revenue and Accounts Receivable As of June 30, 2023 and December 31, 2022, the Company had the following revenue and accounts receivable concentrations: Schedule of Concentration Risk June 30, 2023 December 31, 2022 % of Revenue % of Accounts Receivable % of Revenue % of Accounts Receivable (Unaudited) Medicare payment 25 % 20 % 32 % 18 % | Note 4 – Concentration of Credit Risks Cash The Company maintains its cash in accounts at financial institutions, which may, at times, exceed federally-insured limits of $ 250,000 Revenue and Accounts Receivable Concentration As of December 31, 2022 and 2021, the Company had revenue and accounts receivable concentration related to payments from Medicare as outlined in the table below: Schedule of Concentration Risk 2022 2021 % of % of % of % of Medicare payments 32 % 18 % 37 % 16 % |
Accounts Receivable
Accounts Receivable | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Accounts Receivable | Note 5 – Accounts Receivable As of June 30, 2023 and December 31, 2022, the Company’s accounts receivable consisted of the following: Schedule of Accounts Receivable June 30, 2023 December 31, 2022 (Unaudited) Gross accounts receivable $ 753,463 $ 3,044,718 Less: allowance for doubtful accounts (74,860 ) (163,479 ) Accounts receivable, net $ 678,603 $ 2,881,239 | Note 5 – Accounts Receivable Accounts receivable consisted of the following at December 31: Schedule of Accounts Receivable 2022 2021 Accounts receivable, net of contractual adjustments $ 3,044,718 $ 1,290,312 Less: allowance for doubtful accounts (163,479 ) (80,979 ) Accounts receivable, net $ 2,881,239 $ 1,209,333 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Theralink Technologies Inc [Member] | ||||
Accounts Receivable | NOTE 4 – ACCOUNTS RECEIVABLE Accounts Receivable On June 30, 2023 and September 30, 2022, accounts receivable consisted of the following: Schedule of Accounts Receivable June 30, 2023 September 30, 2022 Accounts receivable $ 29,000 $ 35,957 Less: allowance for doubtful accounts (14,000 ) (3,832 ) Accounts receivable, net $ 15,000 $ 32,125 For the nine months ended June 30, 2023 and 2022, bad debt expense amounted to $ 10,172 0 3,828 | NOTE 5 – ACCOUNTS RECEIVABLE Accounts Receivable On September 30, 2022 and 2021, accounts receivable consisted of the following: Schedule of Accounts Receivable September 30, 2022 September 30, 2021 Accounts receivable $ 35,957 $ - Less: allowance for doubtful accounts (3,832 ) - Accounts receivable, net $ 32,125 $ - For the years ended September 30, 2022 and 2021, bad debt expense amounted to $ 39,426 0 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 |
Property and Equipment
Property and Equipment | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Property and Equipment | Note 6 – Property and Equipment The Company’s property and equipment consisted of the following at June 30, 2023 and December 31, 2022: Schedule of Property and Equipment Estimated Useful Life in Years June 30, 2023 December 31, 2022 (Unaudited) Leasehold improvements Shorter of asset or lease term $ 1,712,019 $ 2,233,603 Equipment 1.5 7 1,989,567 2,820,166 Total property and equipment 3,701,586 5,053,769 Less: accumulated depreciation (3,135,743 ) (3,476,977 ) Property and equipment, excluding construction in progress 565,843 1,576,792 Construction in progress - 7,922 Total property and equipment, net $ 565,843 $ 1,584,714 Depreciation was approximately $ 87,000 239,000 233,000 473,000 | Note 7 – Property and Equipment Property and equipment consisted of the following at December 31: Schedule of Property and Equipment Estimated Useful Life in Years 2022 2021 Leasehold improvements Shorter of asset or lease term $ 2,233,603 $ 2,127,762 Equipment 1.5 10 2,820,166 2,810,028 Total property and equipment 5,053,769 4,937,790 Less: accumulated depreciation (3,476,977 ) (2,990,902 ) Property and equipment, excluding construction 1,576,792 1,946,888 Construction in progress 7,922 376,275 Total property and equipment, net $ 1,584,714 $ 2,323,163 Depreciation was $ 867,364 761,034 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Theralink Technologies Inc [Member] | ||||
Property and Equipment | NOTE 5 – PROPERTY AND EQUIPMENT Property and Equipment Property and equipment are recorded at cost. Once placed in service, they are depreciated on the straight-line method over their estimated useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease terms. Property and equipment consist of the following: Schedule of Property and Equipment Estimated Useful Life in Years June 30, 2023 September 30, 2022 Laboratory equipment 5 $ 358,388 $ 597,059 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 353,826 Computer equipment 3 76,470 68,490 Property and equipment gross 813,251 1,043,942 Less accumulated depreciation (479,913 ) (357,815 ) Property and equipment, net $ 333,338 $ 686,127 For the three months ended June 30, 2023 and 2022, depreciation expense related to property and equipment amounted to $ 40,586 36,825 For the nine months ended June 30, 2023 and 2022, depreciation expense related to property and equipment amounted to $ 122,098 108,754 During the three and nine months ended June 30, 2023, the Company recorded an impairment loss of $ 238,671 Leased equipment was not included in the table above as it was accounted for in accordance with ASU 842 – Leases financing lease right-of-use (“ROU”) assets and financing lease liabilities. | NOTE 6 – PROPERTY AND EQUIPMENT Property and Equipment Property and equipment are recorded at cost. Once placed in service, they are depreciated on the straight-line method over their estimated useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease terms. Property and equipment consist of the following: Schedule of Property and Equipment Estimated Useful Life in Years September 30, 2022 September 30, 2021 Laboratory equipment 5 $ 597,059 $ 470,159 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 349,115 Computer equipment 3 68,490 68,490 Property and equipment gross 1,043,942 912,331 Less accumulated depreciation (357,815 ) (213,404 ) Property and equipment, net $ 686,127 $ 698,927 For the years ended September 30, 2022 and 2021, depreciation expense related to property and equipment amounted to $ 144,411 139,362 Leased equipment was not included in the table above as it was accounted for in accordance with ASU 842 – Leases financing lease right-of-use (“ROU”) assets and financing lease liabilities. |
Intangibles Assets and Goodwill
Intangibles Assets and Goodwill | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangibles Assets and Goodwill | Note 7 – Intangibles Assets and Goodwill The Company’s intangible assets and goodwill consisted of the following at June 30, 2023 and December 31, 2022: Schedule of Intangible Assets and Goodwill June 30, 2023 (Unaudited) Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 4,224,113 $ (3,565,970 ) $ 658,143 Definite lived assets 4,224,113 (3,565,970 ) 658,143 Research and development 243,750 - 243,750 Total intangible assets and goodwill $ 4,467,863 $ (3,565,970 ) $ 901,893 December 31, 2022 Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (6,939,916 ) $ 1,000,482 Non-compete agreements 3 391,000 (359,125 ) 31,875 Customer lists 3 77,000 (48,125 ) 28,875 Brand development 15 69,071 (8,596 ) 60,475 Definite lived assets 8,477,469 (7,355,762 ) 1,121,707 Research and development 243,750 - 243,750 Goodwill 4,499,796 (4,499,796 ) - Total intangible assets and goodwill $ 13,221,015 $ (11,855,558 ) $ 1,365,457 In January 2023, the Company sold the Louisiana Market which had a total intangible carrying amount of approximately $ 61,000 In February 2023, the Company sold the BackSpace retail clinics which had a total intangible carrying amount of approximately $ 60,000 On April 1, 2023, the Company executed an agreement to sell all the assets of Ricardo Knight, PC which had a total intangible carrying amount of approximately $ 265,000 In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 2,128,000 1,672,000 The Company performs its annual impairment test during the fourth quarter of the fiscal year. For the year ended December 31, 2022, the Company performed a qualitative impairment test and, based on the totality of information available for the reporting units, the Company concluded that it was more-likely-than-not that the carrying value is greater than the estimated fair values of the reporting units as of December 31, 2022. A goodwill impairment loss of $ 4.5 million was recorded in December 2022. Amortization was approximately $ 33,000 200,000 77,000 412,000 The Company’s estimated future amortization of intangible assets was as follows: Schedule of Future Amortization of Intangible Assets Years Ending December 31, (Unaudited) 2023 (six months) $ 65,814 2024 131,629 2025 131,629 2026 131,629 2027 131,629 Thereafter 65,813 Total $ 658,143 | Note 8 – Intangibles Assets and Goodwill Intangible assets that were acquired in connection with the acquisition transactions (Note 6) during 2022 and 2021: Schedule of Intangible Assets and Goodwill December 31, 2022 Estimated Accumulated Useful Life Cost Impairment Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (6,939,916 ) $ 1,000,482 Non-compete agreements 3 391,000 (359,125 ) 31,875 Intellectual property agreements 2 77,000 (48,125 ) 28,875 Brand development 15 69,071 (8,596 ) 60,475 Definite lived assets 8,477,469 (7,355,762 ) 1,121,707 Research and development 243,750 - 243,750 Goodwill 4,499,796 (4,499,796 ) - Total intangible assets and goodwill $ 13,221,015 $ (11,855,558 ) $ 1,365,457 December 31, 2021 Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (2,500,418 ) $ 5,439,980 Non-compete agreements 3 306,000 (302,458 ) 3,542 Customer lists 3 134,882 (89,921 ) 44,961 Brand development 15 69,071 (3,835 ) 65,236 Definite lived assets 8,450,351 (2,896,632 ) 5,553,719 Research and development 243,750 - 243,750 Goodwill 4,661,796 - 4,661,796 Total intangible assets and goodwill $ 13,355,897 $ (2,896,632 ) $ 10,459,265 In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 2,128,000 1,672,000 The Company performs its annual impairment test during the fourth quarter of the fiscal year. For the year ended December 31, 2022, the Company performed a qualitative impairment test and, based on the totality of information available for the reporting units, the Company concluded that it was more-likely-than-not that the carrying value is greater than the estimated fair values of the reporting units as of December 31, 2022. A goodwill impairment loss of $ 4.5 Amortization was $ 759,250 888,153 The Company’s estimated future amortization of intangible assets is as follows: Schedule of Future Amortization of Intangible Assets Years Ending December 31, 2023 $ 241,227 2024 180,477 2025 180,477 2026 180,477 2027 180,477 Thereafter 158,572 Total $ 1,121,707 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) |
Operating Leases
Operating Leases | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Operating Leases | Note 8 – Operating Leases On January 1, 2019, the Company adopted ASC 842 using the modified retrospective method applied to leases that were in place at January 1, 2019. Results for operating periods beginning after January 1, 2019 are presented under ASC 842, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 840. The Company’s leases consist of operating leases that mostly relate to real estate rental agreements. Most of the value of the Company’s lease portfolio relates to real estate lease agreements that were entered into starting March 2017. Discount Rate Applied to Operating Leases To determine the present value of minimum future lease payments for operating leases at January 1, 2019, the Company was required to estimate a rate of interest that we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment (the “incremental borrowing rate” or “IBR”). The Company determined the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate of leases added as of June 30, 2023 and December 31, 2022, the Company used a weighted average interest rate. Total operating lease cost Individual components of the total lease cost incurred by the Company were as follows: Schedule of Operating Lease Cost Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (Unaudited) (Unaudited) Operating lease expense $ 747,698 $ 830,373 Minimum rental payments under operating leases are recognized on a straight light basis over the term of the lease. Maturity of operating leases The Company’s amount of future minimum lease payments under operating leases are as follows: Schedule of Future Minimum Lease Payments Operating Leases (Unaudited) Undiscounted future minimum lease payments: 2023 (six months) $ 538,112 2024 734,612 2025 468,745 2026 236,609 2027 73,823 Thereafter 81,691 Total 2,133,592 Amount representing imputed interest (143,280 ) Total operating lease liability 1,990,312 Current portion of operating lease liability (947,657 ) Operating lease liability, non-current $ 1,042,655 | Note 9 – Operating Leases On January 1, 2019, the Company adopted Topic ASC 842 using the modified retrospective method applied to leases that were in place at January 1, 2019. The Company’s leases consist of operating leases that relate to real estate rental agreements. Most of the value of the Company’s lease portfolio upon adoption relates to real estate lease agreements that were entered into starting March 2017. Discount Rate Applied to Property Operating Lease To determine the present value of minimum future lease payments for operating leases at January 1, 2019, the Company was required to estimate a rate of interest that we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment (the “incremental borrowing rate” or “IBR”). The Company determined the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate of leases added during the year ended December 31, 2022, the Company used a weighted average interest rate. Right of Use Assets Right of use assets are included in the consolidated Balance Sheet as follows: Schedule of Operating Lease Right of Use Assets December 31, December 31, Non-current assets Right of use assets, net of amortization $ 3,623,078 $ 4,948,393 Total operating lease cost Individual components of the total lease cost incurred by the Company is as follows: Schedule of Operating Lease Cost Year Ended December 31, Year Ended December 31, Operating lease expense $ 1,622,466 $ 1,333,916 Minimum rental payments under operating leases are recognized on a straight light basis over the term of the lease. Maturity of operating leases The amount of future minimum lease payments under operating are as follows: Schedule of Future Minimum Lease Payments Operating Undiscounted future minimum lease payments: 2023 $ 1,545,103 2024 1,152,928 2025 887,061 2026 628,509 2027 137,383 Thereafter 81,691 Total 4,432,675 Amount representing imputed interest (410,555 ) Total operating lease liability 4,022,120 Current portion of operating lease liability (1,368,016 ) Operating lease liability, non-current $ 2,654,104 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Theralink Technologies Inc [Member] | ||||
Operating Leases | NOTE 7 – LEASE LIABILITIES Operating Leases Financing Lease Right-of-Use (“ROU”) Assets and Financing Lease Liabilities Effective November 2018, the Company entered into a financing agreement with the first lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 379 60 months commencing in November 2018 through October 2023 16,065 Effective November 2018, the Company entered into a financing agreement with a second lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,439 60 months commencing in November 2018 through October 2023 62,394 Effective March 2019, the Company entered into a financing agreement with a third lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,496 60 months commencing in March 2019 through February 2024 64,940 Effective August 2019, the Company entered into a financing agreement with a fourth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 397 60 months commencing in August 2019 through July 2024 19,622 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Effective January 2020, the Company entered into a financing agreement with a fifth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,395 60 months commencing in January 2020 through December 2025. 68,821 The significant assumption used to determine the present value of the financing lease payables was the discount rate which ranged from 8 15 Financing lease right-of-use assets (“Financing ROU”) is summarized below: Schedule of Financial Lease Right-of-use Assets June 30, 2023 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (201,663 ) (166,887 ) Balance of Financing ROU assets $ 30,178 $ 64,954 For the three months ended June 30, 2023 and 2022, depreciation expense related to Financing ROU assets amounted to $ 11,592 11,593 34,776 34,777 Financing lease liability related to the Financing ROU assets is summarized below: Schedule of Financing Lease Liability Related to Financing Right-of-use Assets June 30, 2023 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (183,318 ) (143,456 ) Total 48,523 88,385 Less: short term portion (39,565 ) (53,995 ) Long term portion $ 8,958 $ 34,390 Future minimum lease payments under the financing lease agreements on June 30, 2023 are as follows: Schedule of Future Minimum Lease Payments Under Financing Lease Years ending June 30, Amount 2024 $ 42,237 2025 9,164 Total minimum financing lease payments 51,401 Less: discount to fair value (2,878 ) Total financing lease payable on June 30, 2023 $ 48,523 Operating Lease Right-of-Use (“ROU”) Asset and Operating Lease Liabilities In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025. 4,878 5,026 5,179 5,335 5,495 In February 2020, pursuant to ASC 842 – Leases, 12 231,337 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (the “Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 10). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6th Avenue, Golden, Colorado 80401, consisting of approximately 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) In October 2021, pursuant to ASC 842 – Leases 168,664 176,893 8,229 8 1,212,708 For the nine months ended June 30, 2023, lease costs related to operating lease ROU asset and operating lease liabilities amounted to $ 157,762 108,206 49,556 151,180 86,677 64,503 Operating Right-of-use asset (“ROU”) is summarized below: Schedule of Operating Right-of-use Assets June 30, 2023 September 30, 2022 Operating office lease $ 1,212,708 $ 1,212,708 Less accumulated reduction (95,539 ) (57,847 ) Balance of Operating ROU asset $ 1,117,169 $ 1,154,861 Operating lease liability related to the ROU asset is summarized below: Schedule of Operating Lease Liability Related to Right-of-use Assets June 30, 2023 September 30, Operating office lease $ 1,212,708 $ 1,212,708 Total operating lease liability 1,212,708 1,212,708 Reduction of operating lease liability (48,170 ) (29,396 ) Total 1,164,538 1,183,312 Less: short term portion (29,880 ) (25,551 ) Long term portion $ 1,134,658 $ 1,157,761 Future base lease payments under the non-cancellable operating lease on June 30, 2023 are as follows: Schedule of Future Minimum Lease Payments of Operating Lease Years ending June 30, Amount 2024 $ 121,993 2025 125,652 2026 129,422 2027 134,179 2028 138,204 Thereafter 1,309,553 Total minimum non-cancellable operating lease payments 1,959,003 Less: discount to fair value (794,465 ) Total operating lease liability on June 30, 2023 $ 1,164,538 | NOTE 8 – LEASE LIABILITIES Operating Leases Financing Lease Right-of-Use (“ROU”) Assets and Financing Lease Liabilities Effective November 2018, the Company entered into a financing agreement with the first lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 379 60 months commencing in November 2018 through October 2023 16,065 Effective November 2018, the Company entered into a financing agreement with a second lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,439 60 months commencing in November 2018 through October 2023 62,394 Effective March 2019, the Company entered into a financing agreement with a third lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,496 60 months commencing in March 2019 through February 2024 64,940 Effective August 2019, the Company entered into a financing agreement with a fourth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 397 60 months commencing in August 2019 through July 2024 19,622 Effective January 2020, the Company entered into a financing agreement with a fifth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,395 60 months commencing in January 2020 through December 2025 68,821 The significant assumption used to determine the present value of the financing lease payables was the discount rate which ranged from 8 15 Financing lease right-of-use assets (“Financing ROU”) is summarized below: Schedule of Financial Lease Right-of-use Assets September 30, 2022 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (166,887 ) (120,518 ) Balance of Financing ROU assets $ 64,954 $ 111,323 For the years ended September 30, 2022 and 2021, depreciation expense related to Financing ROU assets amounted to $ 46,369 46,368 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Financing lease liability related to the Financing ROU assets is summarized below: Schedule of Financing Lease Liability Related to Financing Right-of-use Assets September 30, 2022 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (143,456 ) (95,726 ) Total 88,385 136,115 Less: short term portion (53,995 ) (47,730 ) Long term portion $ 34,390 $ 88,385 Future minimum lease payments under the financing lease agreements on September 30, 2022 are as follows: Schedule of Future Minimum Lease Payments Under Financing Lease Years ending September 30, Amount 2023 $ 62,762 2024 31,900 2025 4,185 Total minimum financing lease payments 98,846 Less: discount to fair value (10,461 ) Total financing lease payable on September 30, 2022 $ 88,385 Operating Lease Right-of-Use (“ROU”) Asset and Operating Lease Liabilities In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025. Pursuant to the lease agreement, the lease requires the Company to pay a monthly base rent of; (i) $ 4,878 5,026 5,179 5,335 5,495 In February 2020, pursuant to ASC 842 – Leases, 12 231,337 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (the “Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 11). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6th Avenue, Golden, Colorado 80401, consisting of approximately 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen In October 2021, pursuant to ASC 842 – Leases 168,664 176,893 8,229 8 1,212,708 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 For the year ended September 30, 2022, lease costs related to operating lease ROU asset and operating lease liabilities amounted to $ 155,184 115,823 39,361 66,268 64,454 1,814 Operating Right-of-use asset (“ROU”) is summarized below: Schedule of Operating Right-of-use Asset September 30, 2022 September 30, 2021 Operating office lease $ 1,212,708 $ 231,337 Less accumulated reduction (57,847 ) (62,673 ) Balance of Operating ROU asset $ 1,154,861 $ 168,664 Operating lease liability related to the ROU asset is summarized below: Schedule of Operating Lease Liability Related to Right-of-use Assets September 30, 2022 September 30, Operating office lease $ 1,212,708 $ 231,337 Total operating lease liability 1,212,708 231,337 Reduction of operating lease liability (29,396 ) (54,444 ) Total 1,183,312 176,893 Less: short term portion (25,551 ) (42,411 ) Long term portion $ 1,157,761 $ 134,482 Future base lease payments under the non-cancellable operating lease on September 30, 2022 are as follows: Schedule of Future Minimum Lease Payments of Operating Lease Years ending September 30, Amount 2023 $ 119,310 2024 122,893 2025 126,580 2026 130,377 2027 and thereafter 1,549,130 Total minimum non-cancellable operating lease payments 2,048,290 Less: discount to fair value (864,978 ) Total operating lease liability on September 30, 2022 $ 1,183,312 |
Notes Payable
Notes Payable | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Notes Payable | Note 9 – Notes Payable Set forth below is a summary of the Company’s outstanding debt as of June 30, 2023 and December 31, 2022: Schedule of Notes Payable June 30, December 31, 2023 2022 (Unaudited) Note payable $ - $ 13,093 Note payable to a financial institution in the amount of $ 200,000 66 consecutive monthly installments 2,652 5 60,000 $ - $ 13,093 Note payable to a financial institution in the amount of $ 131,400 120 monthly installments 1,394 5 July 1, 2026 47,697 54,763 $ 112,800 60 monthly installments 2,129 5 June 1, 2024 26,882 36,840 Notes payable 74,579 104,696 Less: current portion: (39,435 ) (51,657 ) Notes payable, net of current portion $ 35,144 $ 53,039 Principal maturities of the Company’s notes payable are as follows: Schedule of Principal Maturities of Notes Payable Years Ending December 31, Amount 2023 (six months) $ 21,540 2024 27,631 2025 15,813 2026 9,595 Total $ 74,579 | Note 10 – Notes Payable Set forth below is a summary of the Company’s outstanding debt as of December 31, 2022 and December 31, 2021: Schedule of Notes Payable December 31, December 31, 2022 2021 Note payable to a financial institution in the amount of $ 200,000 66 2,652 5 60,000 May 15, 2023 $ 13,093 $ 43,413 Note payable to a financial institution in the amount of $ 131,400 120 1,394 5 July 1, 2026 54,763 68,378 $ 112,800 60 2,129 5 June 1, 2024 36,840 59,913 Note payable to a financial institution in the amount of $ 140,000 36 4,225 5.39 September 19, 2022 - 37,179 Note payable in the amount of $ 2,690,000 April 29, 2022 7 - 150,301 Notes payable 104,696 359,184 Less: current portion: (51,657 ) (254,487 ) Notes payable, net of current portion $ 53,039 $ 104,697 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) Principal maturities of notes payable are as follows: Schedule of Principal Maturities of Notes Payable Years Ending December 31, Amount 2023 $ 51,657 2024 27,631 2025 15,813 2026 9,595 Total $ 104,696 | ||
Theralink Technologies Inc [Member] | ||||
Notes Payable | NOTE 6 – DEBT Notes Payable On June 30, 2023 and September 30, 2022, convertible notes payable (third parties and related parties) consisted of the following: Schedule of Convertible Notes Payable June 30, 2023 September 30, 2022 Principal amount $ 8,986,605 $ 2,475,000 Less: debt discount (3,799,271 ) (2,028,719 ) Convertible notes payable, net 5,187,334 446,281 Less: current portion of convertible notes payable - related parties (5,187,334 ) - Convertible notes payable, net – long-term $ - $ 446,281 Principal amount – related parties $ 9,130,292 $ 4,150,000 Less: debt discount – related parties (3,820,629 ) (1,844,186 ) Convertible notes payable - related parties, net 5,309,663 2,305,814 Less: current portion of convertible notes payable - related parties (5,309,663 ) (1,000,000 ) Convertible notes payable - related parties, net – long-term $ - $ 1,305,814 Total convertible notes payable, net $ 10,496,997 $ 2,752,095 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Convertible Debt – Related Parties On May 12, 2021, the Company entered into a Securities Purchase Agreement (“May 2021 SPA”) with a related party, who is an affiliate stockholder (“May 2021 Investor”) to purchase a convertible note (“May 2021 Note”) and accompanying 63,897,764 1,000,000 1,000,000 8 May 12, 2026 333,334 333,333 333,333 0.00313 1,000,000 20,164 267,521 732,479 0.00313 984,200 15,800 1,000,000 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“First November 2021 SPA”) with a related party, who is an affiliate stockholder (“First November 2021 Investor”), to purchase three convertible notes (collectively as “First November 2021 Notes”) and three accompanying warrants (collectively as “First November 2021 Warrants”), for an aggregate investment amount of $ 1,000,000 334,000 18,251,367 333,000 18,196,722 333,000 18,196,722 1,000,000 8 November 1, 2026 990,048 0.00366 the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. 218,579,234 34,620 Debt Modifications and Exchanges; 1,000,000 20,164 140,093 859,907 On April 5, 2022, the Company entered into a Securities Purchase Agreement (“First April 2022 SPA”) with a related party, Matthew Schwartz, who is a member of the Board of Directors (“Investor”), to purchase a convertible note with a principal balance of $ 100,000 4,201,681 100,000 89,815 8 0.00476 100,000 3,901 18,959 81,041 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On May 9, 2022, the Company entered into a Securities Purchase Agreement (“May 2022 SPA”) with a related party, who is an affiliate stockholder (“May 2022 Investor”), to purchase four convertible notes for an aggregate investment amount of $ 1,000,000 20 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 1,000,000 April 1, 2027 178,449 0.00476 20 1,000,000 20,110 834,803 165,197 On June 15, 2022, the Company entered into a Securities Purchase Agreement (“June 2022 SPA”) with a related party, Danica Holley, who is a member of the Board of Directors (“Investor”), to purchase a convertible note with principal of $ 50,000 2,100,840 50,000 5,924 8 April 1, 2027 0.00476 20 50,000 1,173 44,438 5,562 On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 On November 1, 2022, the Company entered into a Demand Promissory Note Agreements with two related parties, who are affiliate stockholders, for a principal balance of $ 120,000 8 On November 29, 2022, in connection with the Securities Exchange Agreements and New Convertible Debt discussed below, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 0.00366 0.00476 0.003 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Securities Exchange Agreements and New Related Party Convertible Debentures and Warrants dated November 29, 2022 On November 29, 2022, the Company consummated the initial closing (the “Initial Closing”) of a private placement offering (the “Offering”) pursuant to the terms and conditions of that certain Securities Purchase Agreement, dated as of November 29, 2022 (the “Purchase Agreement”), by and among the Company, certain related party accredited investors (the “Related Party Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as collateral agent (the “Collateral Agent”). At the Initial Closing, the Company sold the related party Purchasers (i) 10 550,000 157,142,857 100 412,092 50,000 58,200 29,708 On November 29, 2022, the Company entered into Securities Exchange Agreements with the above related party investors, whereby the May 2021 Note, the First November 2021 Notes, the First April 2022 Note, the May 2022 Notes, the June 2022 Note, the Busch Notes, the August 11, 2022 Demand Promissory Note, and the September 2, 2022 Demand Promissory Note with an aggregate principal amount of $ 4,150,000 120,750 15 10 589,505 4,860,255 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 500 1,000,000 33,315 15 464,992 3,564,937 On April 11, 2023, the Company consummated a third closing (the “Third Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022, by and among the Company and Jeffrey Busch (the “Third Closing Related Party Purchaser”). At the Third Closing, the Company sold the Purchaser (i) a New Debenture with a principal amount of $ 155,100 44,314,286 100 141,000 10 14,100 The November 29, 2022 New Related Party Debentures and April 2023 Related Party Debenture mature on November 29, 2023 10 0.003 70 50 5,000,000 0.003 70 Notwithstanding the preceding, holders of New Related Party Debentures and April 2023 Related Party Debenture shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. The Company’s obligations under the New Related Party Debentures and April 2023 Related Party Debenture are secured by a first priority lien on all the assets of the Company pursuant to that certain Security Agreement, dated November 29, 2022 (the “Security Agreement”) by and among the Company, the Debenture holders and the Collateral Agent. The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. If the Company or any Subsidiary shall default on any of its obligations under any mortgage credit agreement or other facility indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves an obligation greater than $ 250,000 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) In connection with the Securities Exchange Agreements with related parties for the exchange of the convertible notes and preferred shares for the New Related Party Debentures and for the April 2023 Related party Debenture discussed above, the Company issued an aggregate of 2,608,654,988 The New Related Party Warrants and April 2023 Related Party Warrant are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant and April 2023 Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the New Related Party Warrants and April 2023 Related Party Warrant within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. As discussed above, on November 29, 2022, in order to induce the related party investors to exchange their respective convertible notes and preferred stock into the New Related Party Debentures, the aggregate principal amount and accrued interest payable of the exchanged convertible notes, and the stated value and accrued dividends of exchanged preferred stock was increased by 15 10 1,046,167 1,768,379 Convertible Debt On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Second November 2021 SPA”) with an investor (“Second November 2021 Investor”) to purchase two convertible notes (collectively as “Second November 2021 Notes”) and two accompanying warrants (collectively as “Second November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 27,322,406 495,560 0.00366 the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes. 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,520 69,417 430,583 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Third November 2021 SPA”) with an investor (“Third November 2021 Investor”) to purchase two convertible notes (collectively as “Third November 2021 Notes”) and two accompanying warrants (collectively as “Third November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 27,322,406 495,560 0.00366 Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes. 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,411 69,417 430,583 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On January 27, 2022, the Company entered into a Securities Purchase Agreement (“First January 2022 SPA”) with an investor (“First January 2022 Investor”) to purchase a convertible note with a principal balance of $ 500,000 500,000 136,612,022 8 136,612,022 498,428 0.00366 500,000 26,959 72,081 427,919 On January 31, 2022, the Company entered into a Securities Purchase Agreement (“Second January 2022 SPA”) with an investor (“Second January 2022 Investor”) to purchase a convertible note with principal balance of $ 500,000 500,000 136,612,022 8 136,612,022 498,428 0.00366 500,000 26,520 71,221 428,779 During April 2022, the Company entered into a Securities Purchase Agreement (“Second April 2022 SPA”) with various investors (“Investors”), to purchase convertible notes for an aggregate investment amount of $ 425,000 425,000 17,857,144 335,593 8 April 1, 2027 0.00476 425,000 15,710 120,808 304,192 On July 1, 2022, the Company entered into a Securities Purchase Agreement with an investor (“July 2022 Investor”), to purchase a convertible note for a principal amount of $ 50,000 50,000 2,100,840 8 April 1, 2027 7,037 0.00476 50,000 953 43,337 6,663 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On October 22, 2022, the Company issued a new convertible note for $ 200,000 200,000 On November 29, 2022, in connection with the Securities Exchange Agreements and New Convertible Debentures discussed below, the Second November 2021 Warrants, Third November 2021 Warrants, January 2022 Warrants, Second January 2022 Warrants, Second April 2022 Warrants, and the July 2022 Warrants, aggregating 566,406,072 0.003 16,393,443 0.003 0.00366 0.00476 0.003 Securities Exchange Agreements and New Convertible Debentures and Warrants dated November 29, 2022 On November 29, 2022, the Company consummated the Initial Closing of the Offering pursuant to the terms and conditions of the Purchase Agreement, by and among the Company, certain accredited investors (the “Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as collateral agent (the “Collateral Agent”). At the Initial Closing, the Company sold to the Purchasers (i) 10 2,805,000 801,428,569 100 2,095,288 255,000 296,800 157,912 The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. On November 29, 2022, the Company entered into Securities Exchange Agreements with the above investors, whereby the Second November 2021 Notes, the Third November 2021 Notes, the First January 2022 Note, the Second January 2022 Note, the Second April 2022 Notes, the July 2022 Note, and the Settlement Note, with an aggregate principal amount of $ 2,675,000 173,375 15 427,256 3,275,631 On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 902 372,303 3,037 1,245,935 15 242,736 1,860,974 On January 27, 2023, the Company consummated the second closing (the “Second Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022, by and among the Company, certain accredited investors (the “Second Closing Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as Collateral Agent. At the Second Closing, the Company sold the Purchasers (i) New Debentures in an aggregate principal amount of $ 1,045,000 298,571,429 950,000 Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Second Offering, and (ii) issue to Gunnar additional PA Warrants on the terms identical to the Warrants sold in the Second Offering in an amount equal to 10% of the New Debentures sold to Second Closing Purchasers. 95,000 7,500 The New Debentures mature on November 29, 2023 10 0.003 70 50 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Notwithstanding the preceding, holders of New Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. The Company’s obligations under the Purchase Agreement and the New Debentures are secured by a first priority lien on all the assets of the Company pursuant to that certain Security Agreement, dated November 29, 2022 (the “Security Agreement”) by and among the Company, the Purchasers and the Collateral Agent. In connection with the issuance of the Underlying Securities discussed above, the Company determined that the terms of the Debentures and Warrants contain an embedded conversion option to be accounted for as derivative liabilities due to the holder having the potential to gain value upon conversion and provisions which includes events not within the control of the Company. In accordance with ASC 815-40 - Derivatives and Hedging - Contracts in an Entity’s Own Stock If the Company or any Subsidiary shall default on any of its obligations under any mortgage credit agreement or other facility indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves an obligation greater than $ 250,000 In connection with the Securities Exchange Agreements with investors for the exchange of the convertible notes and preferred shares for the New Debentures discussed above, the Company issued an aggregate of 2,567,601,521 The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. As discussed above, on November 29, 2022, in order to induce the investors to exchange their respective convertible notes and preferred stock into the New Debentures, the aggregate principal amount and accrued interest payable of the exchanged convertible notes, and the stated value of exchanged preferred stock was increased by 15 669,992 1,949,909 In connection with the Initial Closing of the private placement, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors. As a result of the foregoing, in connection with the Initial Closing, the Company paid Gunnar an aggregate commission of $ 305,000 50,000 in fees to Gunnar’s legal counsel and paid Gunnar a financial advisory fee of $ 50,000 . In addition, Gunner received 124,489,795 warrants. Additionally, the Company issued 16,000,000 warrants to a consultant in connection with the private placement offering. Additionally, in connection with the Second Closing, the Company paid Gunnar an aggregate commission of $ 95,000 , paid $ 7,500 in fees to Gunnar’s legal counsel, and Gunnar received 38,775,510 additional warrants. Analysis of Exchange Agreements, Related Party Debenture, April 2023 Related Party Debenture, and New Debentures, and Related Warrants In accordance with ASC 470-50, Debt Modifications and Extinguishments, the Company performed an assessment of whether the Exchange Agreement transactions with related parties and investors was deemed to be new debt, a modification of existing debt, or an extinguishment of existing debt. The Company evaluated the November 29, 2022 Exchange Agreements for debt modification and concluded that the debt exchanges qualified for debt extinguishment. The Company determined the transactions were considered a debt extinguishment because the change in debt, the inducement premiums (related parties and third parties) discussed previously totaling $ 1,724,489 3,718,288 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Derivative Liabilities Pursuant to Related Party Debentures and New Debentures and Related Warrants Pursuant to the provisions of ASC 815-40 – Derivatives and Hedging – Contracts in an Entity’s Own Stock In connection with the issuance of the New Related Party Debentures and the New Debentures, and related warrants, on November 29, 2022, the initial measurement date, the aggregate fair values of the embedded conversion option derivatives and warrant derivatives of $ 41,961,095 21,986,653 8,837,284 13,149,369 19,974,442 7,231,894 12,742,548 2,192,488 2,192,488 831,922 1,360,566 326,630 141,000 141,000 14,100 185,630 10,995,763 11,482,036 (16,442,350) The Company uses the Binomial Valuation Model to determine the fair value of its conversion options and new stock warrants which requires the Company to make several key judgments including: ● the value of the Company’s common stock; ● the expected life of issued stock warrants; ● the expected volatility of the Company’s stock price; ● the expected dividend yield to be realized over the life of the stock warrants; and ● the risk-free interest rate over the expected life of the stock warrants. During the nine months ended June 30, 2023, the fair value of the embedded options and stock warrants were estimated at issuance using the Binomial Valuation Model with the following assumptions: Schedule of Fair Value of Embedded Option and Stock Warrants 2023 Dividend rate — % Term (in years) 0.42 6.5 Volatility 172.14 396.53 % Risk—free interest rate 3.60 5.47 % The Company’s computation of the expected life of issued stock warrants was based on the simplified method as the Company does not have adequate exercise experience to determine the expected term. The interest rate was based on the U.S. Treasury yield curve in effect at the time of grant. The computation of volatility was based on the historical volatility of the Company’s common stock. During the nine months ended June 30, 2023 and 2022, amortization of debt discounts related to the convertible notes payable and exchanged Debentures amounted to $ 10,651,615 501,432 Notes Payable - Related Parties On June 30, 2023 and September 30, 2022, notes payable - related parties consisted of the following: Schedule of Notes Payable - Related Parties June 30, 2023 September 30, 2022 Principal amount $ 836,966 $ 350,000 Less: debt discount (39,769 ) - Notes payable – related parties, net 797,197 350,000 Less: current portion of notes payable - related parties (797,197 ) (350,000 ) Notes payable – related parties, net – long-term $ - $ - THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 150,000 150,000 1 1 On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 100,000 100,000 1 1 100,000 350,000 250,000 1 2 Debt Modifications and Exchanges, 350,000 notes payable – related party 4,219 350,000 notes payable – related parties 5,091 2,474 On April 28, 2023, the Company entered into a Promissory Note Agreement with Douglas Mergenthaler who is a related party, for a principal amount of $ 110,000 100,000 10,000 10 April 28, 2024 1,000,000 110,000 notes payable – related parties 1,718 In May and June 2023, the Company entered into Promissory Note Agreements with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for an aggregate principal amount of $ 376,966 342,681 34,285 10 May and June 2024 1,000,000 376,966 notes payable – related parties 3,126 During the nine months ended June 30, 2023, amortization of debt discount related to notes payable – related parties amounted to $ 4,516 Note Payable In September 2017, the Company entered into a note agreement with a third-party investor. Pursuant to the note, the Company borrowed a principal amount of $ 1,000 33.3 1,000 1,937 1,000 1,689 | NOTE 7 – DEBT Notes Payable On September 30, 2022 and 2021, the convertible notes payable consisted of the following: Schedule of Convertible Notes Payable September 30, 2022 September 30, 2021 Principal amount $ 2,475,000 $ — Less: debt discount (2,028,719 ) — Convertible notes payable, net $ 446,281 $ — Principal amount – related parties $ 4,150,000 $ 1,000,000 Less: debt discount – related parties (1,844,186 ) (935,019 ) Convertible notes payable - related parties, net 2,305,814 64,981 Less: current portion (1,000,000 ) - Convertible notes payable - related parties, net – long-term $ 1,305,814 $ 64,981 Total convertible notes payable, net $ 2,752,095 $ 64,981 Convertible Debt – Related Parties On May 12, 2021, the Company entered into a Securities Purchase Agreement (“May 2021 SPA”) with a related party, who is an affiliate stockholder (“May 2021 Investor”) to purchase a convertible note (“May 2021 Note”) and accompanying 63,897,764 1,000,000 1,000,000 8 10 May 12, 2026 333,334 333,333 333,333 0.00313 110 19,142 1,000,000 6,575 64,981 1,000,000 20,164 267,521 732,479 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The May 2021 Warrants have an exercise price of $ 0.00313 984,200 15,800 1,000,000 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“First November 2021 SPA”) with a related party, who is an affiliate stockholder (“First November 2021 Investor”), to purchase three convertible notes (collectively as “First November 2021 Notes”) and three accompanying warrants (collectively as “First November 2021 Warrants”), for an aggregate investment amount of $ 1,000,000 334,000 18,251,367 333,000 18,196,722 333,000 18,196,722 1,000,000 8 10 November 1, 2026 990,048 0.00366 110 the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes 218,579,234 34,620 Debt Modifications and Exchanges; 1,000,000 20,164 140,093 859,907 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On April 5, 2022, the Company entered into a Securities Purchase Agreement (“First April 2022 SPA”) with a related party, Matthew Schwartz, who is a member of the board of directors (“Investor”), to purchase a convertible note with principal of $ 100,000 4,201,681 100,000 89,815 8 10 April 1, 2027 0.00476 110 100,000 3,901 18,959 81,041 On May 9, 2022, the Company entered into a Securities Purchase Agreement (“May 2022 SPA”) with a related party, who is an affiliate stockholder (“May 2022 Investor”), to purchase four convertible notes for an aggregate investment amount of $ 1,000,000 20 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 1,000,000 8 10 178,449 0.00476 110 1,000,000 20,110 834,803 165,197 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On June 15, 2022, the Company entered into a Securities Purchase Agreement (“June 2022 SPA”) with a related party, Danica Holley, who is a member of the board of directors (“Investor”), to purchase a convertible note with principal of $ 50,000 2,100,840 50,000 5,924 8 10 April 1, 2027 0.00476 110 50,000 1,173 44,438 5,562 On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Convertible Debt On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Second November 2021 SPA”) with an investor (“Second November 2021 Investor”) to purchase two convertible notes (collectively as “Second November 2021 Notes”) and two accompanying warrants (collectively as “Second November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 10 November 1, 2026 27,322,406 495,560 0.00366 110 The Company shall not effect the conversion of any of the Second November 2021 Notes held by the Second November 2021 Investor, and the Second November 2021 Investor shall not have the right to convert any of the Second November 2021 Notes and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by written notice from the Second November 2021 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice) the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes. 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,520 69,417 430,583 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Third November 2021 SPA”) with an investor (“Third November 2021 Investor”) to purchase two convertible notes (collectively as “Third November 2021 Notes”) and two accompanying warrants (collectively as “Third November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 10 November 1, 2026 27,322,406 495,560 0.00366 110 The Company shall not effect the conversion of any of the Third November 2021 Notes held by the Third November 2021 Investor, and the Third November 2021 Investor shall not have the right to convert any of the Third November 2021 Notes and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by written notice from the Third November 2021 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice) Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,411 69,417 430,583 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On January 27, 2022, the Company entered into a Securities Purchase Agreement (“First January 2022 SPA”) with an investor (“First January 2022 Investor”) to purchase a convertible note with a principal balance of $ 500,000 500,000 136,612,022 8 10 November 1, 2026 136,612,022 498,428 0.00366 110 The Company shall not effect any conversion of the First January 2022 Note and the First January 2022 Investor shall not have the right to convert any amount of the First January 2022 Note and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by such First January 2022 Investor by written notice from the First January 2022 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice 500,000 26,959 72,081 427,919 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On January 31, 2022, the Company entered into a Securities Purchase Agreement (“Second January 2022 SPA”) with an investor (“Second January 2022 Investor”) to purchase a convertible note with principal balance of $ 500,000 500,000 136,612,022 8 10 November 1, 2026 136,612,022 498,428 0.00366 110 The Company shall not effect the conversion of any of the Second January 2022 Note held by the Second January 2022 Investor, and the Second January 2022 Investor shall not have the right to convert any of the Second January 2022 Note and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by such Second January 2022 Investor by written notice from the Second January 2022 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice 500,000 26,520 71,221 428,779 During April 2022, the Company entered into a Securities Purchase Agreement (“Second April 2022 SPA”) with various investors (“Investors”), to purchase convertible notes for an aggregate investment amount of $ 425,000 425,000 17,857,144 335,593 8 10 April 1, 2027 0.00476 110 425,000 15,710 120,808 304,192 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On July 1, 2022, the Company entered into a Securities Purchase Agreement with an investor (“July 2022 Investor”), to purchase a convertible note for a principal amount of $ 50,000 50,000 2,100,840 8 10 April 1, 2027 7,037 0.00476 110 50,000 953 43,337 6,663 Notes Payable - Related Party On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 100,000 100,000 1 April 1, 2022 1 100,000 428 On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 150,000 150,000 1 1 On May 5, 2022, the Company and Jeffrey Busch (collectively as “Parties”) amended the April 26, 2021 note (discussed above) with principal amount of $ 100,000 350,000 250,000 1 2 May 5, 2024 Debt Modifications and Exchanges, 350,000 notes payable – related party 2,474 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Note Payable In September 2017, the Company entered into a note agreement with a third-party investor. Pursuant to the note, the Company borrowed a principal amount of $ 1,000 33.3 1,000 1,689 During the years ended September 30, 2022 and 2021, amortization of debt discount on debt amounted to $ 738,521 64,981 |
Stockholders_ Equity (Deficit)
Stockholders’ Equity (Deficit) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Subsidiary or Equity Method Investee [Line Items] | ||||
Stockholders’ Equity (Deficit) | Note 10 – Stockholders’ Equity (Deficit) * Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) On July 6, 2022, the Company’s shareholders approved the Board of Directors’ proposal to increase the number of authorized shares of the Company’s common stock to 60,000,000 shares from 30,000,000 shares. On August 16, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with institutional accredited investors (the “Purchasers”) pursuant to which the Company offered for sale to the Purchasers an aggregate of 172,149 22.80 172,149 28.50 172,149 28.50 3.9 2018 Incentive Compensation Plan The Company’s board of directors and holders of a majority of outstanding shares approved and adopted the Company’s 2018 Incentive Compensation Plan (“2018 Plan”) in May 2018, reserving the issuance of up to 33,333 shares of common stock (subject to certain adjustments) upon exercise of stock options and grants of other equity awards. The 2018 Plan provides for the grant of incentive stock options (“ISOs”), nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based stock awards, other forms of equity compensation and performance cash awards. ISOs may be granted only to employees. All other awards may be granted to employees, including officers, and to the Company’s non-employee directors and consultants, and affiliates. The 2018 Plan was amended July 6, 2022 to increase the 33,333 shares of common stock to 66,667 shares of common stock. Stock Options As of June 30, 2023, the Company had issued stock options to purchase 4,368 four years 25 75 Restricted Stock Units On February 21, 2022, the Company granted 3,333 On October 15, 2022, the Company granted an aggregate of 10,000 On May 19, 2023, the Company granted an aggregate of 8,767 | Note 11 – Shareholders’ Equity * On October 5, 2020, the Company launched an at-the-market offering of up to $ 5,000,000 83,918 3.8 32,526 0.9 127 0.008 During March 2021, the Company completed a public offering by issuing 354,167 17.0 1.2 1.8 On April 7, 2021 the Company closed on the sale of an additional 39,792 48.00 15% 1.91 115,000 On October 1, 2021, the Company completed a stock purchase agreement and issued 27,027 1,200,000 On July 6, 2022, the Company’s shareholders approved the Board of Directors’ proposal to increase the number of authorized shares of the Company’s common stock to 60,000,000 shares from 30,000,000 shares. On August 16, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with institutional accredited investors (the “Purchasers”) pursuant to which the Company offered for sale to the Purchasers an aggregate of 172,149 22.80 172,149 28.50 172,149 28.50 3.9 2018 Incentive Compensation Plan The Company’s board of directors and holders of a majority of outstanding shares approved and adopted the Company’s 2018 Incentive Compensation Plan (“2018 Plan”) in May 2018, reserving the issuance of up to 33,333 Stock Options As of December 31, 2022, the Company had issued non-qualified stock options to purchase 9,152 four years 25% 75% IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) The information below summarizes the stock options: Schedule of Stock Option Activity Number of Weighted Average Weighted Outstanding at December 31, 2020 12,006 $ 102.9 100.50 Granted 1,633 48.00 102.00 Exercised - - - Cancelled (1,404 ) 117.60 43.20 Outstanding at December 31, 2021 12,235 $ 96.90 107.40 Granted - - - Exercised - - - Cancelled (1,020 ) 97.80 49.50 Outstanding at December 31, 2022 11,215 $ 96.90 112.50 Restricted Stock Units On May 21, 2019, the Company granted an aggregate of 9,250 1,000 On October 20, 2020, the Company granted an aggregate of 10,000 On January 30, 2021, the Company granted an aggregate of 567 one year On October 27, 2021 the Company granted 333 On February 21, 2022, the Company granted 3,333 On September 22, 2022, the Company granted an aggregate of 10,000 17,067 one-year Schedule of Restricted Stock Units Number of Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 14,688 $ 54.90 Granted 900 46.80 Vested (6,896 ) 46.80 Cancelled - - Outstanding at December 31, 2021 8,692 $ 60.60 Granted 30,400 15.30 Vested (14,896 ) 28.8 Cancelled (167 ) 13.20 Outstanding at December 31, 2022 24,029 $ 23.40 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Theralink Technologies Inc [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Stockholders’ Equity (Deficit) | NOTE 9 – STOCKHOLDERS’ DEFICIT Stockholders’ Equity (Deficit) Shares Authorized On September 22, 2020, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to change its name from “OncBioMune Pharmaceutical, Inc.” to “Theralink Technologies, Inc.” and increase its authorized shares of common stock from 6,666,667 0.0001 12,000,000,000 0.0001 On July 1, 2022, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to increase its authorized shares of common stock from 12,000,000,000 100,000,000,000 0.0001 Series A Preferred Stock On August 20, 2015, the Company filed the Certificate of Designation with the Nevada Secretary of State, designating 1,333 26,667 500 As of June 30, 2023 and September 30, 2022, there were 667 Series C-1 Preferred Stock On May 18, 2020, the Company filed a Certificate of Designation, Preferences and Rights of Series C-1 Preferred Stock (the “Series C-1 Certificate of Designation”), as amended on June 9, 2021, with the Nevada Secretary of State to designate 3,000 0.0001 4,128.42 On June 9, 2021, the Company filed an Amendment (the “CoD Amendment”) to the Series C-1 Certificate of Designation with the Nevada Secretary of State. The filing of the CoD Amendment was approved by the Board on June 8, 2021, and by the holders of the majority of the outstanding shares of Series C-1 Preferred Stock on June 8, 2021. The CoD Amendment sets the triggering price for the anti-dilution price protection at $ 0.00275 ● Holders of shares of Series C-1 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-1 Preferred Stock is convertible into shares of common stock any time after the Initial Issuance Date at a conversion price of $ 0.0275 (x) (y) 0.0275 80% 4.99% ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-1 Certificate of Designation), at a price of or with an exercise price or conversion price of less than $ 0.0275 ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-1 Preferred Stock shall be entitled to receive, in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its stockholders (“Liquidation Funds”) before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-1 Certificate of Designation) then outstanding, an amount per shares of the Series C-1 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder of Series C-1 Preferred Stock would receive if such holder converted such Series C-1 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-1 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-1 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-1 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-1 Preferred Stock and all holders of Parity Stock. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) During the year ended September 30, 2022, various holders of the Series C-1 Preferred Stock converted an aggregate of 1,923 288,637,529 Common Stock Issued Upon Conversion of Series C-1 Preferred Stock On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 902 372,303 As of June 30, 2023 and September 30, 2022, the Company had 141 1,043 Series C-2 Preferred Stock On May 18, 2020, the Company filed a Certificate of Designation, Preferences and Rights of Series C-2 Preferred Stock (the “Series C-2 Certificate of Designation”) with the Nevada Secretary of State to designate 6,000 0.0001 410.27 ● Holders of shares of Series C-2 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-2 Preferred Stock is convertible into shares of common stock any time after the initial issuance date at a conversion price of $ 0.00275 (x) (y) 0.00275 80% 4.99% ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-2 Certificate of Designation), at a price of or with an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series C-2 Preferred Stock conversion price shall be reduced to the sale price, the exercise price or conversion price of the securities sold. In addition, these preferred stockholders have the right to participate in future equity offerings from the company for twenty-four months from the effective date. ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-2 Preferred Stock shall be entitled to receive, in cash out of the Liquidation Funds before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-2 Certificate of Designation) then outstanding, an amount per shares of the Series C-2 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder would receive if such holder converted such Series C-2 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-2 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-2 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-2 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-2 Preferred Stock and all holders of Parity Stock. During the year ended September 30, 2022, a holder of the Series C-2 Preferred Stock converted 1,880 280,475,491 Common Stock Issued Upon Conversion of Series C-2 Preferred Stock On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 3,037 1,245,935 As of June 30, 2023 and September 30, 2022, the Company had 0 3,037 Series E Preferred Stock On September 15, 2020, the Company filed a Certificate of Designation, Preferences and Rights of Series E Preferred Stock (the “Series E Certificate of Designation”) with the Nevada Secretary of the State to designate 2,000 0.0001 2,000 ● From the initial issuance date, cumulative dividends on each share of Series E shall accrue, on a quarterly basis in arrears (with any partial quarter calculated on a pro-rata basis), at the rate of 8% THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) ● Holders of shares of Series E Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series E Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0021. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number by the conversion price. ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series E (including any fraction of a share) shall automatically convert into an aggregate number of shares of common stock (including any fraction of a share) by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number (including any fraction of a share) by the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price. However, the conversion price shall never be less than $0.0021. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series E shall be deemed to have been converted into shares of Common Stock immediately prior to the closing of such transaction or Qualified Public Offering. ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series E Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series E Preferred Stock conversion price shall be reduced to the sale price or the exercise price or conversion price of the securities sold. ● Holders of Series E Preferred Stock have no voting rights. On September 16, 2020, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial stockholder, to purchase an aggregate amount of 1,000 2,000,000 Pursuant to the Series E Certificate of Designation, Series E Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Further the Series E Preferred Stock is an equity host instrument since it has more features that align with an equity instrument than a debt instrument pursuant to ASC 815-15-25-17A – Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” To determine whether the Series E Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series E Preferred Stock by the number of common shares issuable upon conversion of the Series E Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series E. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series E Preferred Stock, during the year ended September 30, 2020, the Company recognized a beneficial conversion feature in the amount of $ 2,000,000 During the year ended September 30, 2021, the issuance of Series F Preferred Stock triggered the price protection clause in the Series E Preferred Stock. Thus, the conversion price of the Series E Preferred Stock was reduced from $ 0.00375 0.00313 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 During the nine months ended June 30, 2023 and 2022, the Company incurred $ 26,301 119,671 0 40,329 As of June 30, 2023 and September 30, 2022, the Company had 0 1,000 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Series F Preferred Stock On July 30, 2021, the Company filed a Certificate of Designation, Preferences and Rights of Series F Preferred Stock (the “Series F Certificate of Designation”), with the Nevada Secretary of State to designate 1,000 0.0001 2,000 ● From the Initial Issuance Date, cumulative dividends on each share of Series F shall accrue, on a monthly basis in arrears (with any partial month being made on a pro-rata basis), at the rate of 8% ● Holders of shares of Series F Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series F Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series F Preferred Stock conversion price shall be reduced to the sale price, or the exercise price or conversion price of the securities sold. ● Series F Preferred Stock shall rank pari passu with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company with the Series C-1 Preferred Stock of the Company, the Series C-2 Preferred Stock of the Company, and the Series E Preferred Stock of the Corporation (the “Parity Stock”), and all other shares of capital stock of the Company shall be junior in rank to all Series F shares with respect to the preferences as to dividends (except for the common stock, which shall be pari passu as provided in the Series F Certificate of Designation), distributions and payments upon the liquidation, dissolution and winding up of the Company (such junior stock is referred to herein collectively as “Junior Stock”). The rights of all such Junior Stock shall be subject to the rights, powers, preferences and privileges of the Series F Preferred Stock. Without limiting any other provision of the Series F Certificate of Designation, without the prior express consent of the Required Holder, the Company shall not hereafter authorize or issue any additional or other shares of capital stock that is (i) of senior rank to the Series F Preferred Stock in respect of the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company (collectively, the “Senior Preferred Stock”), or (ii) Parity Stock. Except as provided for in the Certificate of Designation, in the event of the merger or consolidation of the Company into another corporation, the Series F Preferred Stock shall maintain their relative rights, powers, designations, privileges and preferences provided for in the Certificate of Designation for a period of at least two years following such merger or consolidation and no such merger or consolidation shall cause result inconsistent therewith. On July 30, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial stockholder, to purchase an aggregate amount of 500 63,897,764 1,000,000 2,000 8% The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. In accordance with ASC 470 – Debt, the proceeds of $ 1,000,000 42,808 957,192 Pursuant to the Series F Certificate of Designation, Series F Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) To determine whether the Series F Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series F Preferred Stock by the number of common shares issuable upon conversion of the Series F Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series F. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series F Preferred Stock, during the year ended September 30, 2021, the Company recognized a BCF in the amount of $ 42,808 The relative fair value of the warrant of $ 957,192 957,192 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 500 1,000,000 33,315 During the nine months ended June 30, 2023 and 2022, the Company also recorded dividends related to the Series F Preferred Stock in the amount of $ 13,151 59,836 0 20,164 As of June 30, 2023 and September 30, 2022, the Company had 0 500 Stock Options On April 28, 2020, the Board approved the 2020 Equity Incentive Plan (“2020 Plan”), as amended on May 29, 2020. On April 18, 2022, the Board terminated the 2020 Plan and any shares reserved thereunder are no longer subject to reservation and the Company had no options issued and outstanding under the 2020 Plan. On April 18, 2022, the Company’s Board and the stockholders approved the 2022 Equity Incentive Plan (“2022 Plan”) at which time the plan became effective. Upon the effective date of the 2022 Plan, 1,915,000,000 110% On May 26, 2022, the Company’s Board of Directors (“Board”) approved the future granting of stock options under the 2022 Equity Incentive Plan, to various employees and consultants. On August 16, 2022, the Company granted stock options to purchase 1,901,410,519 0.0036 0% 365.1% 2.82% 7,985,924 During the three and nine months ended June 30, 2023, in connection with the accretion of stock-based option expense over the vesting period, the Company recorded stock option expense of $ 333,248 1,482,486 1,901,410,519 1,651,962,645 487,817 0 0.0025 Stock option activities for the nine months ended June 30, 2023 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ - Granted - - - Balance Outstanding June 30, 2023 1,901,410,519 $ 0.0036 9.13 $ 0 Exercisable, June 30, 2023 1,651,962,645 (a) $ 0.0036 9.13 $ 0 Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ - Granted - - - - Vested during the period (298,218,470 ) 0.0036 - - Balance Non-vested on June 30, 2023 249,447,874 $ 0.0036 9.13 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Warrants Legacy Warrants On November 1, 2021, the Company issued the First November 2021 Warrants to purchase an aggregate of 54,644,811 0.00366 990,048 On November 1, 2021, the Company issued the Second November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 On November 1, 2021, the Company issued the Third November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 On January 26, 2022, the Company, upon the approval of the First November 2021 Investor, amended the First November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 218,579,234 34,630 0.00366 On January 26, 2022, the Company, upon the approval of the Second November 2021 Investor, amended the Second November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 26, 2022, the Company, upon the approval of the Third November 2021 Investor, amended the Third November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 27, 2022, the Company issued the First January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 472,403 On January 31, 2022, the Company issued the Second January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 469,810 On January 31, 2022, the Company issued to two consultants an aggregate of 16,393,443 0.00366 54,595 On April 5, 2022, the Company issued the First April 2022 Warrants to purchase 4,201,681 0.00476 89,815 During April 2022, the Company issued the Second April 2022 Warrants to purchase an aggregate of 17,857,144 0.00476 335,593 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On May 9, 2022, the Company issued the May 2022 Warrants to purchase an aggregate of 42,016,808 0.00476 178,449 On June 15, 2022, the Company issued the June 2022 Warrants to purchase 2,100,840 0.00476 5,924 On July 1, 2022, the Company issued the July 2022 Warrants to purchase an aggregate of 2,100,840 0.00476 8,190 On November 29, 2022, in connection with the Securities Exchange Agreements and New Convertible Debt discussed below, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 0.00366 0.00476 0.003 On November 29, 2022, in connection with the Securities Exchange Agreements and New Convertible Debentures discussed in Note 6, the Second November 2021 Warrants, Third November 2021 Warrants, January 2022 Warrants, Second January 2022 Warrants, Second April 2022 Warrants, and the July 2022 Warrants, aggregating 566,406,072 0.003 16,393,443 0.003 0.00366 0.00476 0.003 New Warrants In connection with the Securities Exchange Agreements with related parties for the exchange of the convertible notes and preferred shares for the New Related Party Debentures, as discussed in Note 6, the Company issued an aggregate of 2,564,340,702 in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. In connection with the Securities Exchange Agreements with investors for the exchange of the convertible notes and preferred shares for the New Debentures, as discussed in Note 6, the Company issued an aggregate of 2,269,030,092 in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. In connection with the Initial Closing of the private placement, the Company and Gunnar entered into the Placement Agency Agreement, pursuant to which Gunnar agreed to act as the Placement Agent. Pursuant to the terms of the Placement Agency Agreement, Gunner received 124,489,795 16,000,000 On January 27, 2023, the Company consummated the second closing (the “Second Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022 as discussed in Note 6. The Company issued an aggregate of 298,571,429 The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. 38,775,510 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On April 22, 2023, the Company consummated the closing of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022 as discussed in Note 6. The Company issued 44,314,286 Warrants activities for the nine months ended June 30, 2023 is summarized as follows: Schedule of Warrants Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2022 1,888,813,005 $ 0.003 3.26 $ 1,140,362 Issued in connection with a New Related Party Convertible Debentures (see Note 6) 2,608,654,988 0.003 Issued in connection with a New Convertible Debentures (see Note 6) 2,567,601,521 0.003 Issued to placement agent and consultant in connection with New Related Party and New Convertible Debentures (see Note 6) 179,265,305 0.003 Balance Outstanding on June 30, 2023 7,244,334,819 $ 0.00169 5.03 $ 8,393,613 Exercisable on June 30, 2023 7,244,334,819 $ 0.00169 5.11 $ 8,393,613 | NOTE 10 – STOCKHOLDERS’ DEFICIT Stockholders’ Equity (Deficit) Shares Authorized On September 22, 2020, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to change its name from “OncBioMune Pharmaceutical, Inc.” to “Theralink Technologies, Inc.” and increase its authorized shares of common stock from 6,666,667 0.0001 12,000,000,000 0.0001 On July 1, 2022, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to increase its authorized shares of common stock from 12,000,000,000 100,000,000,000 0.0001 Series A Preferred Stock On August 20, 2015, the Company filed the Certificate of Designation with the Nevada Secretary of State, designating 1,333 26,667 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 As of September 30, 2022 and 2021, there were 667 Series C-1 Preferred Stock On May 18, 2020, the Company filed a certificate of designation, preferences and rights of Series C-1 Preferred Stock (the “Series C-1 Certificate of Designation”), as amended on June 9, 2021, with the Nevada Secretary of State to designate 3,000 0.0001 4,128.42 On June 9, 2021, the Company filed an Amendment (the “CoD Amendment”) to the Series C-1 Certificate of Designation with the Nevada Secretary of State. The filing of the CoD Amendment was approved by the Board on June 8, 2021, and by the holders of the majority of the outstanding shares of Series C-1 Preferred Stock on June 8, 2021. The CoD Amendment sets the triggering price for the anti-dilution price protection at $ 0.00275 ● Holders of shares of Series C-1 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-1 Preferred Stock is convertible into shares of common stock any time after the Initial Issuance Date at a conversion price of $ 0.0275 (x) (y) 0.0275 80 4.99 ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-1 Certificate of Designation), at a price of or with an exercise price or conversion price of less than $ 0.0275 ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-1 Preferred Stock shall be entitled to receive, in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its stockholders (“Liquidation Funds”) before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-1 Certificate of Designation) then outstanding, an amount per shares of the Series C-1 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder of Series C-1 Preferred Stock would receive if such holder converted such Series C-1 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-1 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-1 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-1 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-1 Preferred Stock and all holders of Parity Stock. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 During the year ended September 30, 2022, various holders of the Series C-1 Preferred Stock converted an aggregate of 1,923 shares of Series C-1 Preferred Stock into 288,637,529 Common Stock Issued Upon Conversion of Series C-1 Preferred Stock As of September 30, 2022 and 2021, the Company had 1,043 2,966 Series C-2 Preferred Stock On May 18, 2020, the Company filed a certificate of designation, preferences and rights of Series C-2 Preferred Stock (the “Series C-2 Certificate of Designation”) with the Nevada Secretary of State to designate 6,000 0.0001 410.27 ● Holders of shares of Series C-2 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-2 Preferred Stock is convertible into shares of common stock any time after the initial issuance date at a conversion price of $ 0.00275 (x) (y) 80 4.99 ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-2 Certificate of Designation), at a price of or with an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series C-2 Preferred Stock conversion price shall be reduced to the sale price, the exercise price or conversion price of the securities sold. In addition, these preferred shareholders have the right to participate in future equity offerings from the company for twenty-four months from the effective date. ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-2 Preferred Stock shall be entitled to receive, in cash out of the Liquidation Funds before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-2 Certificate of Designation) then outstanding, an amount per shares of the Series C-2 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder would receive if such holder converted such Series C-2 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-2 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-2 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-2 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-2 Preferred Stock and all holders of Parity Stock. During the year ended September 30, 2022, a holder of the Series C-2 Preferred Stock converted 1,880 280,475,491 Common Stock Issued Upon Conversion of Series C-2 Preferred Stock As of September 30, 2022 and 2021, the Company had 3,037 4,917 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Series E Preferred Stock On September 15, 2020, the Company filed a Certificate of Designation, Preferences and Rights of Series E Preferred Stock (the “Series E Certificate of Designation”) with the Nevada Secretary of the State to designate 2,000 0.0001 2,000 ● From the initial issuance date, cumulative dividends on each share of Series E shall accrue, on a quarterly basis in arrears (with any partial quarter calculated on a pro-rata basis), at the rate of 8 ● Holders of shares of Series E Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series E Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0021. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number by the conversion price. ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series E (including any fraction of a share) shall automatically convert into an aggregate number of shares of common stock (including any fraction of a share) by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number (including any fraction of a share) by the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price. However, the conversion price shall never be less than $0.0021. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series E shall be deemed to have been converted into shares of Common Stock immediately prior to the closing of such transaction or Qualified Public Offering. ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series E Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series E Preferred Stock conversion price shall be reduced to the sale price or the exercise price or conversion price of the securities sold. ● Holders of Series E Preferred Stock have no voting rights. On September 16, 2020, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial shareholder, to purchase an aggregate amount of 1,000 2,000,000 Pursuant to the Series E Certificate of Designation, Series E Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Further the Series E Preferred Stock is an equity host instrument since it has more features that align with an equity instrument than a debt instrument pursuant to ASC 815-15-25-17A – Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 To determine whether the Series E Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series E Preferred Stock by the number of common shares issuable upon conversion of the Series E Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series E. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series E Preferred Stock, during the year ended September 30, 2020, the Company recognized a beneficial conversion feature in the amount of $ 2,000,000 During the year ended September 30, 2021, the issuance of Series F Preferred Stock triggered the price protection clause in the Series E Preferred Stock. Thus, the conversion price of the Series E Preferred Stock was reduced from $ 0.00375 0.00313 During the years ended September 30, 2022 and 2021, the Company incurred $ 160,000 159,890 40,329 13,151 As of September 30, 2022 and 2021, the Company had 1,000 Series F Preferred Stock On July 30, 2021, the Company filed a Certificate of Designation, Preferences and Rights of Series F Preferred Stock (the “Series F Certificate of Designation”), with the Nevada Secretary of State to designate 1,000 0.0001 2,000 ● From the Initial Issuance Date, cumulative dividends on each share of Series F shall accrue, on a monthly basis in arrears (with any partial month being made on a pro-rata basis), at the rate of 8 ● Holders of shares of Series F Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series F Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series F Preferred Stock conversion price shall be reduced to the sale price, or the exercise price or conversion price of the securities sold. ● Series F Preferred Stock shall rank pari passu with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company with the Series C-1 Preferred Stock of the Company, the Series C-2 Preferred Stock of the Company, and the Series E Preferred Stock of the Corporation (the “Parity Stock”), and all other shares of capital stock of the Company shall be junior in rank to all Series F shares with respect to the preferences as to dividends (except for the common stock, which shall be pari passu as provided in the Series F Certificate of Designation), distributions and payments upon the liquidation, dissolution and winding up of the Company (such junior stock is referred to herein collectively as “Junior Stock”). The rights of all such Junior Stock shall be subject to the rights, powers, preferences and privileges of the Series F Preferred Stock. Without limiting any other provision of the Series F Certificate of Designation, without the prior express consent of the Required Holder, the Company shall not hereafter authorize or issue any additional or other shares of capital stock that is (i) of senior rank to the Series F Preferred Stock in respect of the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company (collectively, the “Senior Preferred Stock”), or (ii) Parity Stock. Except as provided for in the Certificate of Designation, in the event of the merger or consolidation of the Company into another corporation, the Series F Preferred Stock shall maintain their relative rights, powers, designations, privileges and preferences provided for in the Certificate of Designation for a period of at least two years following such merger or consolidation and no such merger or consolidation shall cause result inconsistent therewith. On July 30, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial shareholder, to purchase an aggregate amount of 500 63,897,764 1,000,000 2,000 The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. In accordance with ASC 470 – Debt, the proceeds of $ 1,000,000 42,808 957,192 Pursuant to the Series F Certificate of Designation, Series F Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” To determine whether the Series F Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series F Preferred Stock by the number of common shares issuable upon conversion of the Series F Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series F. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series F Preferred Stock, during the year ended September 30, 2021, the Company recognized a BCF in the amount of $ 42,808 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The relative fair value of the warrant of $ 957,192 957,192 During the years ended September 30, 2022 and 2021, the Company also recorded dividends related to the Series F Preferred Stock in the amount of $ 80,000 6,728 20,164 6,728 As of September 30, 2022 and 2021, the Company had 500 Common Stock Common Stock Issued Upon Conversion of Series C-1 Preferred Stock ● During the year ended September 30, 2022, the Company issued an aggregate of 288,637,529 1,923 Common Stock Issued Upon Conversion of Series C-2 Preferred Stock ● During the year ended September 30, 2022, the Company issued an aggregate of 280,575,491 1,880 Common Stock Issued Upon Accounts Payable Settlements ● During the year ended September 30, 2022, the Company issued an aggregate of 26,913,738 84,240 0.00313 Common Stock Issued for Subscription Payable ● During the year ended September 30, 2022, the Company issued an aggregate of 431,309,907 1,350,000 431,309,907 1,350,000 0.00313 Stock Options Effective February 18, 2011, the Company’s Board of Directors (“Board”) adopted and approved the 2011 stock option plan. A total of 57 No On April 28, 2020, the Board approved the 2020 Equity Incentive Plan (“2020 Plan”), as amended on May 29, 2020. On April 18, 2022, the Board terminated the 2020 Plan and any shares reserved thereunder are no longer subject to reservation and the Company had no options issued and outstanding under the 2020 Plan. On April 18, 2022, the Company’s Board and the shareholders approved the 2022 Equity Incentive Plan (“2022 Plan”) at which time the plan became effective. Upon the effective date of the 2022 Plan, 1,915,000,000 110 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On May 26, 2022, the Company’s Board of Directors (“Board”) approved the future granting of stock options under the 2022 Equity Incentive Plan, to various employees and consultants. On August 16, 2022, the Company granted stock options to purchase 1,901,410,519 0.0036 0 365.1 2.82 10 7,985,924 During the year ended September 30, 2022, in connection with the accretion of stock-based option expense over the vesting period, the Company recorded stock option expense of $ 6,015,622 1,901,410,519 1,353,744,175 1,970,302 0 0.0035 The Company did not have any stock option activity during the year ended September 30, 2021. Stock option activities for the year ended September 30, 2022 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ 0 Exercisable, September 30, 2022 1,353,744,175 (a) $ 0.0036 9.88 $ 0 Balance Non-vested on September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - - Vested during the period (1,353,744,175 ) 0.0036 - - Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. Warrants On May 12, 2021, in connection with the issuance of a convertible note, the Company issued a Warrant to purchase up to 63,897,764 0.00313 984,200 On July 30, 2021, the Company, in connection with the issuance of 500 63,897,764 0.00313 957,192 On November 1, 2021, the Company issued the First November 2021 Warrants to purchase an aggregate of 54,644,811 0.00366 990,048 On November 1, 2021, the Company issued the Second November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On November 1, 2021, the Company issued the Third November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 On January 26, 2022, the Company, upon the approval of the First November 2021 Investor, amended the First November 2021 SPA whereby the Company issued additional cashlessly-exercisable warrants to purchase 218,579,234 34,630 0.00366 On January 26, 2022, the Company, upon the approval of the Second November 2021 Investor, amended the Second November 2021 SPA whereby the Company issued additional cashlessly-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 26, 2022, the Company, upon the approval of the Third November 2021 Investor, amended the Third November 2021 SPA whereby the Company issued additional cashlessly-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 27, 2022, the Company issued the First January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 472,403 On January 31, 2022, the Company issued the Second January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 469,810 On January 31, 2022, the Company issued to two consultants an aggregate of 16,393,443 0.00366 54,595 On April 5, 2022, the Company issued the First April 2022 Warrants to purchase 4,201,681 0.00476 89,815 During April 2022, the Company issued the Second April 2022 Warrants to purchase an aggregate of 17,857,144 0.00476 335,593 On May 9, 2022, the Company issued the May 2022 Warrants to purchase an aggregate of 42,016,808 0.00476 178,449 On June 15, 2022, the Company issued the June 2022 Warrants to purchase 2,100,840 0.00476 5,924 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On July 1, 2022, the Company issued the July 2022 Warrants to purchase an aggregate of 2,100,840 0.00476 8,190 As of September 30, 2022, the Company had 1,888,813,005 Warrants activities for the years ended September 30, 2022 and 2021 is summarized as follows: Schedule of Warrants Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2020 856,674,588 $ 0.0020 4.3 $ — Issued in connection with a convertible debt – related party (see Note 7 and Note 9) 63,897,764 0.0031 4.6 Issued in connection with a Series F preferred stock – related party 63,897,764 0.0031 Balance Outstanding on September 30, 2021 984,470,116 0.0023 3.50 — Issued in connection with a convertible debt – related party (see Note 7 and Note 9) 321,543,374 0.0038 4.16 Issued in connection with a convertible debt (see Note 7) 582,799,515 0.0037 4.09 Balance Outstanding on September 30, 222 1,888,813,005 $ 0.0030 3.26 $ 1,140,362 Exercisable on September 30, 2022 1,684,611,324 $ 0.0031 3.31 $ 940,362 |
Retirement Plan
Retirement Plan | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Retirement Benefits [Abstract] | ||
Retirement Plan | Note 11 – Retirement Plan The Company offers a 401(k) plan that covers eligible employees. The plan provides for voluntary salary deferrals for eligible employees. Additionally, the Company is required to make matching contributions of 50% of up to 6 % of total compensation for those employees making salary deferrals 17,106 35,954 43,927 70,763 | Note 12 – Retirement Plan The Company offers a 401(k) plan that covers eligible employees. The plan provides for voluntary salary deferrals for eligible employees. Additionally, the Company is required to make matching contributions of 100% up to 3% and 50% of the next 2% of total compensation for those employees making salary deferral 134,534 139,870 |
Income Taxes
Income Taxes | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Income Taxes | Note 12 – Income Taxes ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Management assessed all available evidence to estimate if sufficient future taxable income will be generated in the appropriate period and of the appropriate character to realize deferred tax assets. For the six months ended June 30, 2023 and June 30, 2022, no The Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits as December 31, 2022. As of June 30, 2023, the Company had no | Note 13 – Income Taxes For the year ended December 31, 2022, and December 31, 2021, no income tax expense or benefit was recorded related to income taxes due to the Company’s overall operating results and the change in the valuation allowance. The components of income tax expense (benefit) for the year ended December 31, 2022, and December 31, 2021, are as follows: Schedule of Components of Income tax Benefits December 31, December 31, Current income tax expense (refund) - federal $ - $ - Current income tax expense (refund) - state - - Total current income tax expense (refund) - - Deferred income tax expense (benefit) - federal - - Deferred income tax expense (benefit) - state - - Total deferred income tax expense (benefit) - - Total provision for income taxes $ - $ - The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities at December 31, 2022 and 2021 are as follows: Schedule of Deferred Tax Assets and Liabilities December 31, December 31, Deferred tax assets: Reserves & allowances $ 20,738 $ 20,880 Charitable contribution carry-forward 3,000 3,020 Net operating loss carry-forward - federal 7,778,105 6,049,391 Net operating loss carry-forward - state 2,294,317 1,887,147 Amortization 2,029,833 - Non-qualified stock options 459,093 349,328 Total deferred tax assets $ 12,585,086 $ 8,309,766 Deferred tax liabilities: Depreciation $ (2,914 ) $ (200,738 ) Amortization - (119,004 ) Total deferred tax liabilities $ (2,914 ) $ (319,742 ) Less valuation allowance (12,582,172 ) (7,990,024 ) Total net deferred tax assets $ - $ - IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) The Company has federal net operating loss carry-forward of approximately $ 37.0 39.3 ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2022 and 2021, a full valuation allowance was required. In addition, the Company performed a comprehensive review of its uncertain tax positions and determined that no adjustments were necessary relating to unrecognized tax benefits as December 31, 2022. The Company’s federal and state income tax returns are subject to examination by taxing authorities for three years after the returns are filed, and the Company’s federal and state income tax returns for 2019 through 2021 remain open to examination. The reconciliation of the income tax (benefit) to the U.S. federal statutory income tax rate is as follows: Schedule of Company’s Effective Income Tax Rate Reconciliation December 31, December 31, Federal statutory income tax 21.00 % 21.00 % Permanent differences (0.01 )% (0.01 )% Change in Tax Credits 0.00 % 0.00 % Change in Tax Rate 0.00 % 0.00 % Change in valuation allowance (25.20 )% (25.77 )% State income taxes, net of federal benefit 4.61 % 4.78 % Prior year adjustments (0.40 )% 0.00 % Total 0.00 % 0.00 % | |
Theralink Technologies Inc [Member] | |||
Income Taxes | NOTE 12 – INCOME TAXES Income Taxes The Company maintains deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax assets on September 30, 2022 and 2021 consist of net operating loss carry-forwards. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of the attainment of future taxable income. The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the fiscal years ended September 30, 2022 and 2021 are as follow: Schedule of Effective Income Tax Rate 2022 2021 Years Ended September 30, 2022 2021 Income tax benefit at U.S. statutory rate of 21 $ (2,675,812 ) $ (1,149,047 ) Income tax benefit – state (589,953 ) (253,337 ) Non-deductible expenses 1,543,675 (52,467 ) Change in valuation allowance 1,722,090 1,454,851 Total provision for income tax $ — $ — The Company’s approximate net deferred tax asset as of September 30, 2022 and 2021 was as follow: Schedule of Deferred Tax Assets 2022 2021 Years Ended September 30, 2022 2021 Net operating loss carry-forwards $ 12,967,136 $ 11,245,046 Total deferred tax asset 12,967,136 11,245,046 Less: valuation allowance (12,967,136 ) (11,245,046 ) Net deferred tax asset $ — $ — The gross operating loss carry forward available to the Company was $ 50,593,585 The increase in the valuation allowance was $ 1,722,090 12,967,136 8,050,201 expire in 2037 4,916,935 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Commitments and Contingencies | Note 13 – Commitments and Contingencies The Company accrues a liability and charges operations for the estimated costs of contingent liabilities, including adjudication or settlement of various asserted and unasserted claims existing as of the balance sheet date, where there is a reasonable possibility that a loss has been incurred and the loss (or range of probable loss) is estimable. From time to time the Company may become subject to threatened and/or asserted claims arising in the ordinary course of our business. Other than the matter described below, management is not aware of any matters, either individually or in the aggregate, that are reasonably likely to have a material impact on the Company’s financial condition, results of operations or liquidity. Third Party Audit On April 15, 2021, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 2,921,868 11,530 On June 3, 2021, the Company received a request for payment from CMS in the amount of $ 2,918,472 5,327.73 On October 21, 2021, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 2,716,056.33 6,791.33 2,709,265 On May 17, 2022, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 492,086.22 10,420.22 481,666.00 0.1 On December 9, 2022, the Company received a suspension of payment notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, for IMAC Regeneration Center of Kentucky. On December 22, 2022, the Company responded to the payment suspension with a Rebuttal of Notice. The suspension of payment will remain in effect until the Rebuttal of Notice is answered. Guidelines suggest a 30 to 45 day response time, although no response has been provided nor any explanation regarding the payment suspension as of the date of this filing, over 200 days later. | Note 14 – Commitments and Contingencies The Company accrues a liability and charges operations for the estimated costs of contingent liabilities, including adjudication or settlement of various asserted and unasserted claims existing as of the balance sheet date, where there is a reasonable possibility that a loss has been incurred and the loss (or range of probable loss) is estimable. From time to time the Company may become subject to threatened and/or asserted claims arising in the ordinary course of our business. Other than the matter described below, management is not aware of any matters, either individually or in the aggregate, that are reasonably likely to have a material impact on the Company’s financial condition, results of operations or liquidity. Third Party Audit From time to time, in the ordinary course of business, we are subject to audits under various governmental programs in which third party firms engaged by the Center for Medicare & Medicaid Services (“CMS”) conduct extensive reviews of claims data to identify potential improper payments. We cannot predict the ultimate outcome of any regulatory reviews or other governmental audits and investigations. On April 15, 2021, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 2,921,868 11,530 2,918,472 5,327.73 On October 21, 2021, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 2,716,056.33 6,791.33 2,709,265 20,000 On May 17, 2022, the Company received notification from Covent Bridge Group, a Center for Medicare & Medicaid Services (“CMS”) contractor, that they are recommending to CMS that the Company was overpaid in the amount of $ 492,086.22 10,420.22 481,666.00 91,000 On December 9, 2022, the Company received a suspension of payment notification from Covent Bridge Group, a Center for Medicare & Medicaid Services contractor, for IMAC Regeneration Center of Kentucky. On December 22, 2022, the Company responded to the payment suspension with a Rebuttal of Notice. The suspension of payment will remain in effect until the Rebuttal of Notice is answered. Guidelines suggest a 30 to 45 day response time, although no response has been provided nor any explanation regarding the payment suspension as of the date of this filing. At this stage of the appeals process, based on the information currently available to the Company, the Company is unable to predict the timing and ultimate outcomes of these matters and therefore is unable to estimate the range of possible loss. Any potential loss may be classified as errors and omissions for which insurance coverage was in place during a majority of the years being evaluated. As of December 31, 2022, the Company has not recorded a provision for any of these claims, as management does not believe that an estimate of a possible loss or range of loss can reasonably be made at this time. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Theralink Technologies Inc [Member] | ||||
Commitments and Contingencies | NOTE 10 – COMMITMENTS AND CONTINGENCIES Commitments and Contingencies Employment Agreements Michael Ruxin, M.D. On June 5, 2020, the Company and Dr. Michael Ruxin entered into an employment agreement (the “Ruxin Employment Agreement”) for Dr. Ruxin to serve as the Company’s Chief Executive Officer, President and a director. The Ruxin Employment Agreement provided that Dr. Ruxin will be employed for a five-year term commencing on June 5, 2020.Dr. Ruxin was entitled to receive an annual base salary of $ 300,000 150 49,047,059 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 200,000 112,500 The Ruxin Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. In July 2023, the Ruxin Employment Agreement was terminated and Dr. Ruxin has transitioned to become the Company’s Chief Medical Officer (See Note 11 -Subsequent Events). Jeffrey Busch On June 5, 2020, the Company and Jeffrey Busch entered into an employment agreement (the “Busch Employment Agreement”) for Mr. Busch to serve as the Company’s Chairman of the Company and in such other positions as may be assigned from time to time by the Board of Directors. The Busch Employment Agreement stipulates that Mr. Busch will be employed for a five-year term commencing on June 5, 2020. The term will be automatically extended for one additional year upon the fifth anniversary of the effective date without any affirmative action, unless either party to the agreement provides at least sixty (60) days’ advance written notice to the other party that the employment period will not be extended. Mr. Busch will be entitled to receive an annual base salary of $ 60,000 49,047,059 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 237,500 192,500 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Mr. Busch is an “at-will” employee and his employment may be terminated by the Company at any time, with or without cause. In the event Mr. Busch’s employment is terminated by the Company without Cause (as defined in the Busch Employment Agreement), with Good Reason (as defined in the Busch Employment Agreement) or as a result of a non-renewal of the term of employment under the Busch Employment Agreement, Mr. Busch shall be entitled to receive the sum of (I) the Severance Multiple (as defined below), multiplied by multiplied by provided, however The Busch Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. Thomas E. Chilcott, III On September 24, 2020, the Company appointed Thomas E. Chilcott, III, to serve as the Chief Financial Officer. The Company entered into an offer letter with Mr. Chilcott which provides that his base salary will be $ 225,000 Mr. Chilcott is entitled to participate in all medical and other benefits that the Company has established for its employees. The offer letter also provides that Mr. Chilcott will be granted an option to purchase up to 94,545,096 shares of the Company’s common stock which were granted on August 16, 2022 with an exercise price of $ 0.0036 On December 31, 2021, the Company’s Board approved an increase in the base salary of Thomas E. Chilcott, III, the Company’s Chief Financial Officer, from $ 225,000 to $ 300,000 per year. The increase was effective January 1, 2022. The Board also approved two new bonuses for which Mr. Chilcott was eligible: (i) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $1,000,000; and (ii) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $2,000,000 in the aggregate. On December 6, 2022, the Board approved a bonus compensation plan pursuant to which Thomas E. Chilcott, III, the Company’s former Chief Financial Officer, was eligible for: (i) a $150,000 bonus payable upon the successful filing of the Company’s report on Form 10-K for the annual period ended September 30, 2022 (the “Annual Report “) on or before December 29, 2022; or (ii) a $100,000 bonus payable upon the successful filing of the Company’s Annual Report on or before January 13, 2023 (collectively, the “Bonus”) . During the nine months ended June 30, 2023, an aggregate bonus of $ 150,000 was paid to Mr. Chilcott. Mr. Chilcott’s employment with the Company was terminated on May 5, 2023. Faith Zaslavsky On December 5, 2022, the Company appointed Faith Zaslavsky, age 48, as President and Chief Operating Officer of the Company, effective December 5, 2022 (the “Effective Date”). In connection with her appointment, on December 5, 2022, the Company and Ms. Zaslavsky entered into an offer letter (the “Offer Letter”) which provides that Ms. Zaslavsky’s base salary will be $ 400,000 35 150,000,000 20 Andrew Kucharchuk On May 5, 2023, the Company appointed Andrew Kucharchuk, a member of the Board of Directors of the Company, as its Chief Financial Officer, effective May 8, 2023. Mr. Kucharchuk was previously the Chief Executive Officer and Chief Financial Officer of OncBioMune Pharmaceuticals, Inc., the Company’s predecessor. The Company and Mr. Kucharchuk agreed that Mr. Kucharchuk’s base salary will be $ 180,000 Consulting Agreements On July 5, 2020, the Company and a consultant entered into a Scientific Advisory Board Service Agreement (“Scientific Advisory Agreement”) which provides for; (i) $ 2,000 88,786,943 0.0036 1,500 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On July 5, 2020, the Company and a consultant entered into a Pathology Advisory Board Service Agreement (the “Pathology Advisory Agreement”) which provides for; (i) $ 272 77,972,192 0.0036 1,500 Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and shall be renewed on a month-to-month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement pursuant to the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 2,000 12,000 License Agreements GMU License In September 2006, the Company entered into an exclusive license agreement with George Mason Intellectual Properties (“GMU License Agreement”), a non-profit corporation formed for the benefit of George Mason University (“GMU”) which: (1) grants an exclusive worldwide license, with the right to grant sublicenses, under the licensed inventions to make, have made, import, use, market, offer for sale and sell products designed, manufactured, used and/or marketed for all fields and for all uses, subject to the exclusions as defined in the GMU License Agreement; (2) grants an exclusive option to license past, existing, or future inventions in the Company’s field, from inventors that are obligated to assign to GMU and who have signed a memorandum of understanding acknowledging that developed intellectual property will be offered, subject to the exclusions as defined in the GMU License Agreement; (3) the license and option granted specifically excludes biomarkers for lung, ovarian, and breast cancers in a diagnostic field of use and GMU inventions developed using materials obtained from third parties under agreements granting rights to inventions made using said materials and; (4) grants right to assign or otherwise transfer the license so long as such assignment or transfer is accompanied by a change of control transaction and GMU is given 14 days’ prior notice. In addition, the Company is required to make an annual payment of $ 50,000 1.5 15 2,781 2,443 NIH License Agreement In March 2018, the Company entered into two license agreements (“NIH License Agreements”) with the National Institutes of Health (“NIH”) which grants the Company an exclusive and a nonexclusive United States license for certain patents. Pursuant to the NIH License Agreements, the Company is required to make an annual payment of $ 1,000 3.0 th st st 5,000 10 0 Vanderbilt License Agreement In March 2023, the Company entered into a license agreement (“Vanderbilt License Agreement”) with the Vanderbilt University (“Vanderbilt”) which grants the Company an exclusive license for certain patents. Pursuant to Vanderbilt License Agreement, the Company is required to make an annual payment of $ 5,556 0.25 2.0 0 Lease In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (“Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 7). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6 th 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen Other Contingencies Pursuant to ASC 450-20 – Loss Contingencies 83,840 78,440 40,000 43,840 38,440 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Legal Action On August 16, 2022, Erika Singleton filed a complaint against the Company in the Eighth Judicial District Court, Clark County, Nevada, Case No. A-22-857038-C. Plaintiff alleges that the Company did not provide her with physical stock certificates for 200,000 2,000 Agreement and Plan of Merger On May 23, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with IMAC Holdings, Inc., a Delaware corporation (Nasdaq: BACK) (“ IMAC Merger Sub Merger Surviving Entity At the effective time of the Merger (the “ Effective Time Theralink Common Stock Theralink Shares 0.001 IMAC Shares 85 Merger Consideration At the Effective Time, each award of stock options (each, a “ Theralink Stock Option Each of IMAC and Theralink has agreed, subject to certain exceptions with respect to unsolicited proposals, not to directly or indirectly solicit competing acquisition proposals or to enter into discussions concerning, or provide confidential information in connection with, any unsolicited alternative acquisition proposals. However, if such party receives an unsolicited, bona fide acquisition proposal that did not result from a material breach of the non-solicitation provisions of the Merger Agreement and IMAC’s or Theralink’s Board of Directors, or any committee thereof, as applicable, concludes, after consultation with its financial advisors and outside legal counsel, that such unsolicited, bona fide acquisition proposal constitutes, or could reasonably be expected to result in, a superior offer, such party may furnish non-public information regarding it or any of its subsidiaries and engage in discussions and negotiations with such third party in response to such unsolicited, bona fide acquisition proposal; provided The completion of the Merger is subject to the satisfaction or waiver of customary closing conditions, including: (i) adoption of the Merger Agreement by holders of a majority of the outstanding Theralink Shares, (ii) approval of the issuance of IMAC Shares in connection with the Merger by a majority of the outstanding IMAC Shares, (iii) absence of any court order or regulatory injunction prohibiting completion of the Merger, (iv) expiration or termination of (a) all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “ HSR Act IMAC and Theralink have each made customary representations and warranties in the Merger Agreement. The Merger Agreement also contains customary covenants and agreements, including covenants and agreements relating to (i) the conduct of each of IMAC’s and Theralink’s business between the date of the signing of the Merger Agreement and the closing date of the Merger and (ii) the efforts of the parties to cause the Merger to be completed, including actions which may be necessary to cause the expiration or termination of any waiting periods under the HSR Act. Upon completion of the Merger, it is anticipated that the transaction with be accounted for as a reverse acquisition and recapitalization of the Company. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) | NOTE 11 – COMMITMENTS AND CONTINGENCIES Commitments and Contingencies Employment Agreements Michael Ruxin, M.D. On June 5, 2020, the Company and Dr. Michael Ruxin entered into an employment agreement (the “Ruxin Employment Agreement”) for Dr. Ruxin to serve as the Company’s Chief Executive Officer, President and a director. The Ruxin Employment Agreement provides that Dr. Ruxin will be employed for a five-year term commencing on June 5, 2020. The term will be automatically extended for one additional year upon the fifth anniversary of the effective date without any affirmative action, unless either party to the agreement provides at least sixty (60) days’ advance written notice to the other party that the employment period will not be extended. Dr. Ruxin will be entitled to receive an annual base salary of $ 300,000 150 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 112,500 62,500 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Dr. Ruxin is an “at-will” employee and his employment may be terminated by the Company at any time, with or without cause. In the event Dr. Ruxin’s employment is terminated by the Company without Cause (as defined in the Ruxin Employment Agreement), with Good Reason (as defined in the Ruxin Employment Agreement) or as a result of a non-renewal of the term of employment under the Ruxin Employment Agreement, Dr. Ruxin shall be entitled to receive the sum of (I) the Severance Multiple (as defined below), multiplied by multiplied by provided, however The Ruxin Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. Jeffrey Busch On June 5, 2020, the Company and Jeffrey Busch entered into an employment agreement (the “Busch Employment Agreement”) for Mr. Busch to serve as the Company’s Chairman of the Company and in such other positions as may be assigned from time to time by the board of directors. The Busch Employment Agreement provides that Mr. Busch will be employed for a five-year term commencing on June 5, 2020. The term will be automatically extended for one additional year upon the fifth anniversary of the effective date without any affirmative action, unless either party to the agreement provides at least sixty (60) days’ advance written notice to the other party that the employment period will not be extended. Mr. Busch will be entitled to receive an annual base salary of $ 60,000 49,047,059 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 192,500 132,500 Mr. Busch is an “at-will” employee and his employment may be terminated by the Company at any time, with or without cause. In the event Mr. Busch’s employment is terminated by the Company without Cause (as defined in the Busch Employment Agreement), with Good Reason (as defined in the Busch Employment Agreement) or as a result of a non-renewal of the term of employment under the Busch Employment Agreement, Mr. Busch shall be entitled to receive the sum of (I) the Severance Multiple (as defined below), multiplied by multiplied by provided, however The Busch Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Thomas E. Chilcott, III On September 24, 2020, the Company appointed Thomas E. Chilcott, III, to serve as the Chief Financial Officer. The Company entered into an offer letter with Mr. Chilcott which provides that his base salary will be $ 225,000 0.0036 On December 31, 2021, the Company’s Board approved an increase in the base salary of Thomas E. Chilcott, III, the Company’s Chief Financial Officer, from $ 225,000 300,000 75,000 Consulting Agreements On July 5, 2020, the Company and a consultant entered into a Scientific Advisory Board Service Agreement (“Scientific Advisory Agreement”) which provides for; (i) $ 2,000 88,786,943 0.0036 1,500 On July 5, 2020, the Company and a consultant entered into a Pathology Advisory Board Service Agreement (the “Pathology Advisory Agreement”) which provides for; (i) $ 272 77,972,192 0.0036 1,500 Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and shall renew on a month-to month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement pursuant to the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 18,000 12,000 License Agreements GMU License Agreement In September 2006, the Company entered into an exclusive license agreement with George Mason Intellectual Properties (“GMU License Agreement”), a non-profit corporation formed for the benefit of George Mason University (“GMU”) which: (1) grants an exclusive worldwide license, with the right to grant sublicenses, under the licensed inventions to make, have made, import, use, market, offer for sale and sell products designed, manufactured, used and/or marketed for all fields and for all uses, subject to the exclusions as defined in the GMU License Agreement; (2) grants an exclusive option to license past, existing, or future inventions in the Company’s field, from inventors that are obligated to assign to GMU and who have signed a memorandum of understanding acknowledging that developed intellectual property will be offered, subject to the exclusions as defined in the GMU License Agreement; (3) the license and option granted specifically excludes biomarkers for lung, ovarian, and breast cancers in a diagnostic field of use and GMU inventions developed using materials obtained from third parties under agreements granting rights to inventions made using said materials and; (4) grants right to assign or otherwise transfer the license so long as such assignment or transfer is accompanied by a change of control transaction and GMU is given 14 days’ prior notice. In addition, the Company is required to make an annual payment of $ 50,000 1.5 15 2,443 1,591 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 NIH License Agreement In March 2018, the Company entered into two license agreements (“NIH License Agreements”) with the National Institutes of Health (“NIH”) which grants the Company an exclusive and a nonexclusive United States license for certain patents. Pursuant to the NIH License Agreements, the Company is required to make an annual payment of $ 1,000 3.0 th st st 5,000 10 0 24,830 Lease In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (“Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 8). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6 th 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen Other Contingencies Pursuant to ASC 450-20 – Loss Contingencies 78,440 71,240 40,000 38,440 31,240 Legal Action THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On August 16, 2022, Erika Singleton filed a complaint against the Company in the Eighth Judicial District Court, Clark County, Nevada, Case No. A-22-857038-C. Plaintiff alleges that the Company did not provide her with physical stock certificates for 200,000 2,000 |
Merger Agreement
Merger Agreement | 6 Months Ended |
Jun. 30, 2023 | |
Merger Agreement | |
Merger Agreement | Note 14 – Merger Agreement On May 23, 2023, IMAC Holdings, Inc., a Delaware corporation (Nasdaq: BACK) (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Theralink Technologies, Inc. (OTC: THER), a Nevada corporation (“Theralink”), and IMAC Merger Sub, Inc., a Delaware corporation and a newly formed, wholly owned subsidiary of the Company (“Merger Sub”). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Theralink (the “Merger”), with Theralink continuing as the surviving entity (the “Surviving Entity”) and a wholly owned subsidiary of the Company. On May 22, 2023, the board of directors of the Company, and the board of directors of Theralink unanimously approved the Merger Agreement. At the effective time of the Merger (the “Effective Time”), each share of Theralink’s common stock (“Theralink Common Stock”) and each share of Theralink’s preferred stock (together with the Theralink Common Stock, “Theralink Shares”) issued and outstanding as of immediately prior to the Effective Time will be converted into and will thereafter represent the right to receive a portion of a share of the Company’s common stock (the “Company Shares”) such that the total number of Company Shares issued to the holders of Theralink Shares shall equal 85% of the total number of Company Shares outstanding as of the Effective Time (the “Merger Consideration”). At the Effective Time, each award of Theralink stock options (each, a “Theralink Stock Option”), whether or not then vested or exercisable, that is outstanding immediately prior to the Effective Time, will be assumed by the Company and converted into a stock option relating to a number of Company Shares equal to the product of: (i) the number of shares of Theralink Common Stock subject to such Theralink Stock Option; and (ii) the ratio which results from dividing one share of Theralink Common Stock by the portion of a Company Share issuable for such share as finally determined at the Effective Time (the “Exchange Ratio”), at an exercise price per Company Share (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (A) the exercise price per share of Theralink Common Stock of such Theralink Stock Option by (B) the Exchange Ratio. The Company and Theralink have each agreed, subject to certain exceptions with respect to unsolicited proposals, not to directly or indirectly solicit competing acquisition proposals or to enter into discussions concerning, or provide confidential information in connection with, any unsolicited alternative acquisition proposals. However, if such party receives an unsolicited, bona fide acquisition proposal that did not result from a material breach of the non-solicitation provisions of the Merger Agreement and the Company’s or Theralink’s board of directors, or any committee thereof, as applicable, concludes, after consultation with its financial advisors and outside legal counsel, that such unsolicited, bona fide acquisition proposal constitutes, or could reasonably be expected to result in, a superior offer, such party may furnish non-public information regarding it or any of its subsidiaries and engage in discussions and negotiations with such third party in response to such unsolicited, bona fide acquisition proposal; provided The completion of the Merger is subject to the satisfaction or waiver of customary closing conditions, including: (i) adoption of the Merger Agreement by holders of a majority of the outstanding Theralink Shares; (ii) approval of the issuance of Company Shares in connection with the Merger by a majority of the outstanding shares of the Company’s common stock; (iii) absence of any court order or regulatory injunction prohibiting completion of the Merger; (iv) expiration or termination of (a) all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) and (b) any agreement with any governmental entity not to consummate the transactions contemplated by the Merger Agreement; (v) effectiveness of the Company’s registration statement on Form S-4 to register the Company Shares to be issued in the Merger; (vi) subject to specified materiality standards, the accuracy of the representations and warranties of the other party; (vii) the authorization for listing of Company Shares to be issued in the Merger on Nasdaq; (viii) compliance by the other party in all material respects with its covenants; and (ix) the completion of satisfactory due diligence by both parties. The Company and Theralink have each made customary representations and warranties in the Merger Agreement. The Merger Agreement also contains customary covenants and agreements, including covenants and agreements relating to (i) the conduct of each of the Company’s and Theralink’s business between the date of the signing of the Merger Agreement and the closing date of the Merger and (ii) the efforts of the parties to cause the Merger to be completed, including actions which may be necessary to cause the expiration or termination of any waiting periods under the HSR Act. The Merger Agreement is attached hereto as Exhibit 2.1 and is incorporated by reference. The foregoing summary has been included to provide investors and security holders with information regarding the terms of the Merger Agreement and is qualified in its entirety by the terms and conditions of the Merger Agreement. It is not intended to provide any other factual information about the Company, Theralink or their respective subsidiaries and affiliates. The Merger Agreement contains representations and warranties by each of the parties to the Merger Agreement, which were made only for purposes of the Merger Agreement and as of specified dates. The representations, warranties and covenants in the Merger Agreement (i) were made solely for the benefit of the parties to the Merger Agreement; (ii) may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Merger Agreement instead of establishing these matters as facts; and (iii) may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company, Theralink or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the Company’s or Theralink’s public disclosures. |
Subsequent Events
Subsequent Events | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Subsequent Events | Note 15 - Subsequent Events * On July 25, 2023, the Company entered into a definitive securities purchase agreement with several institutional and accredited investors, including existing significant investors of Theralink Technologies, Inc., its previously announced merger partner (OTC:THER) (“Theralink”), and Theralink’s Chairman, for the sale of its preferred stock and warrants. sold an aggregate of 2,500 1,000 1,800 1,000 2,075,702 4.3 12 763,126 549,451 3.276 3.276 five years 3.0 . July 25, 2023, the Company also entered into a Registration Rights Agreement, pursuant to which it agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of the Company’s common stock underlying the Series A-1 Convertible Preferred Stock, Series A-2 Convertible Preferred Stock and Warrants no later than 45 days following the closing of the planned merger. Effective on September 7, 2023, the Company implemented a 30-for-1 reverse stock split 0.001 | Note 15 – Subsequent Events * The Company has evaluated subsequent events through March 31, 2023 and [ ], 2023, which are the dates these consolidated financial statements were available to be issued. Other than the items disclosed below, all subsequent events, requiring recognition as of December 31, 2022, have been incorporated into these consolidated financial statements. Closure of Underperforming Locations During January of 2023, the Company decided to close the operations at four underperforming clinic locations: Webster Groves, Lexington, Fort Pierce and Tampa. Sale of Louisiana Orthopedic On January 27, 2023, we executed an agreement to sell all assets of IMAC of Louisiana, PC and Louisiana Sports Rehab, LLC for a total of $ 1.05 Sale of The BackSpace On March 1, 2023, we executed an agreement to sale The BackSpace, LLC to Curis Express, LLC. This sale eliminated IMAC Holdings, Inc. retail chiropractic division. In addition, the deal included all associated real estate leases and the rights to certain future potential expansion locations. See table below for the preliminary determined impact of this transaction. The following table presents the preliminary unaudited pro forma summary consolidated information of the Company as if the business transactions had occurred on December 31, 2022. Schedule of Preliminary Unaudited Pro Forma 12/31/2022 Results Presented in the 10-K Impact From the Sale of Operations Associated with Louisiana Orthopedic on 01/27/2023 (Unaudited) Impact from the Sale of The BackSpace Operations on 02/17/2023 Unaudited) Resulting Impact of Subsequent Events on 12/31/2022 Results (Unaudited) Assets: Current Assets $ 4,207,927 $ (673,650 ) $ (55,478 ) $ 3,478,799 Property and equipment, net 1,584,714 (111,688 ) (631,281 ) 841,745 Other Assets 5,288,965 (634,887 ) (932,504 ) 3,721,574 Total Assets 11,081,606 (1,420,225 ) (1,619,263 ) 8,042,118 Liabilities and Stockholders equity: Current Liabilities 3,713,832 (133,569 ) (192,792 ) 3,387,471 Long-Term Liabilities 2,716,518 (447,318 ) (679,621 ) 1,589,579 Total Liabilities 6,430,350 (580,887 ) (872,413 ) 4,977,050 Accumulated deficit $ (46,519,740 ) $ (839,338 ) $ (746,850 ) $ (48,105,928 ) Minimum Bid Price Requirement The Company did not regain compliance with the Minimum Bid Price Requirement by March 20, 2023; however, on March 23, 2023, the Company received a letter from Nasdaq granting the Company’s request for a 180-day extension to regain compliance with the Minimum Bid Price Requirement (the “Extension Notice”). If at any time prior to September 18, 2023, the closing bid price of the Company’s common stock is at or above $1.00 for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it is in compliance with the Minimum Bid Price Requirement and the matter will be closed. | ||
Theralink Technologies Inc [Member] | ||||
Subsequent Events | NOTE 11 – SUBSEQUENT EVENTS Subsequent Events Chief Medical Officer Consulting Agreement On July 14, 2023, the Company entered into a Chief Medical Officer Consulting Agreement with Dr. Michael Ruxin, the Company’s former Chief Executive Officer, to serve as the Company’s Chief Medical Officer. For compensation for services provided by Dr, Ruxin as a Chief Medical Officer Consultant (a) the Company shall pay Dr, Ruxin compensation equal to $ 10,000 Note Payable On July 28, 2023, the Company issued a Promissory Note Agreement with IMAC Holdings, Inc. (“IMAC”) for a principal amount of $ 439,590 439,590 6 The IMAC Convertible Secured Note On August 16, 2023, the Company and IMAC entered into a Convertible Secured Promissory Note (the “IMAC Note”) pursuant to which IMAC has loaned to the Company $ 2,560,500 The IMAC Note will mature on August 16, 2024 and bears interest at 6 0.00313 Amended and Restated Security Agreement Previously, on November 29, 2022, January 27, 2023 and April 11, 2023, the Company issued an aggregate of $ 17,961,798 10 | NOTE 13 – SUBSEQUENT EVENTS Subsequent Events Private Placement Offering On November 29, 2022, the Company consummated the initial closing (the “Initial Closing”) of a private placement offering (the “Offering”) pursuant to the terms and conditions of that certain Securities Purchase Agreement, dated as of November 29, 2022 (the “Purchase Agreement”), by and among the Company, certain accredited investors (the “Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as collateral agent (the “Collateral Agent”). At the Initial Closing, the Company sold the Purchasers (i) 10 3,355,000 958,571,426 100 2,639,000 305,000 305,000 106,000 27,270 32,000 The Company may hold one or more subsequent closings at any time prior to December 31, 2022, unless otherwise extended, to sell additional Underlying Securities in an aggregate principal amount up to $ 6,600,000 8,000,000 The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. In connection with the Initial Closing, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors. As a result of the foregoing, the Company paid Gunnar an aggregate commission of $ 305,000 50,000 50,000 124,489,795 Each investor in any subsequent closing will be required to represent that, at the time of the applicable closing, it is an accredited investor as defined in Rule 501(a) under the Securities Act of 1933, as amended (the “Securities Act”) and that there was no general solicitation or advertising in connection with the Offering. Debentures The Debentures mature on November 29, 2023 10 0.003 70 50 5,000,000 0.003 70 Notwithstanding the preceding, holders of Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. The Debentures also contain certain price protection provisions providing for adjustment of the number of shares of Common Stock issuable upon conversion of the Debentures in case of certain future dilutive events or stock-splits and dividends. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Warrants The Warrants are exercisable for five years and six months from the earlier of the maturity date of the Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $ 0.003 The Warrants contain certain price protection provisions providing for adjustment of the amount of securities issuable upon exercise of the Warrants in case of certain future dilutive events or stock-splits and dividends. Security Agreement and Exchanges The Company’s obligations under the Purchase Agreement, the Debentures and the Exchanged Debentures (defined below) are secured by a first priority lien on all of the assets of the Company pursuant to that certain Security Agreement, dated November 29, 2022 (the “Security Agreement”) by and among the Company, the Purchasers and the Collateral Agent. To incentivize the existing convertible noteholders and holders of convertible preferred stock to convert their Existing Securities (see Note 7 and Note 10), the Company issued a new convertible note for $ 200,000 15 7,119,125 8,186,994 8,068,915 5,425,911 13.6 10 In connection with the issuance of the Underlying Securities discussed above, the Company determined that the terms of the Debentures and Warrants contain an embedded conversion option to be accounted for as derivative liabilities due to the holder having the potential to gain value upon conversion and provisions which includes events not within the control of the Company. In accordance with ASC 815-40 - Derivatives and Hedging - Contracts in an Entity’s Own Stock Employment Agreement On December 5, 2022, the Company appointed Faith Zaslavsky, age 48, as President and Chief Operating Officer of the Company, effective December 5, 2022 (the “Effective Date”). In connection with her appointment, on December 5, 2022, the Company and Ms. Zaslavsky entered into an offer letter (the “Offer Letter”) which provides that Ms. Zaslavsky’s base salary will be $ 400,000 35 150,000,000 20 CFO Bonus Compensation Plan On December 6, 2022, the Board approved a bonus compensation plan pursuant to which Thomas E. Chilcott, III, the Company’s Chief Financial Officer, will be eligible for: (i) a $ 150,000 Annual Report 100,000 |
Business Acquisitions
Business Acquisitions | 12 Months Ended | |
Dec. 31, 2022 | Sep. 30, 2022 | |
Business Acquisitions | Note 6 – Business Acquisitions IMAC Florida In February 2021, the Company completed the acquisition of and signed Management Services Agreement with Willmitch Chiropractic, P.A. in Tampa, Florida. The transaction was completed for $ 421,000 7,400 413,600 413,600 In March 2021, the Company completed the asset purchase of NHC Chiropractic, PLLC dba Synergy Healthcare in Orlando, Florida. The transaction was completed as an asset purchase for $ 142,500 149,720 7,220 In June 2021, the Company completed an asset purchase of Fort Pierce Chiropractic in Fort Pierce, Florida. The transaction was completed as an asset purchase for $ 50,000 45,000 5,000 IMAC Chicago In June 2021, the Company also completed an asset purchase of Active Medical Center in Naperville, Illinois. The transaction was completed as an asset purchase for $ 205,000 200,000 5,000 IMAC Louisiana In October 2021, the Company consummated certain transactions resulting in the acquisition of the outstanding equity interest in Louisiana Orthopaedic & Sports Rehab Institute, Inc, (the “Louisiana Acquisition”). The transaction was completed for $ 1,200,000 1,200,000 The Company completed its formal valuation analysis to identify and determine the fair value of identifiable tangible assets acquired related to this acquisition during 2022. A total of $ 192,500 77,000 2,045,500 | |
Theralink Technologies Inc [Member] | ||
Business Acquisitions | NOTE 3 – DISPOSAL OF SUBSIDIARIES Business Acquisitions Administrative Dissolution of OncBioMune, LLC On July 11, 2021, the Company’s wholly-owned subsidiary OncBioMune, LLC was administratively dissolved by the Louisiana Secretary of State for failing to meet its filing requirements and pay the associated fees (see Note 1). The Company deconsolidated OncBioMune, LLC on July 11, 2021 and recognized a gain of $ 9,916 Exercise of Options to Purchase Shares of OncBioMune Sub Inc. In connection with the Asset Sale Transaction, the Company entered into an Exchange Agreement, effective June 5, 2020, by and among OncBioMune Pharmaceuticals, Inc. and the investors named therein, whereby the Company agreed to exchange certain convertible promissory notes and warrants outstanding for shares of Series C-1 Convertible Preferred Stock of the Company and the option to purchase shares of the Company’s wholly-owned subsidiary, OncBioMune Sub Inc. OncBioMune Sub Inc. holds the patents used in the prior business of OncBioMune Pharmaceuticals, Inc. In July 2021, certain of those investors exercised their options to purchase the shares of OncBioMune Sub Inc. On July 26, 2021, the Company transferred all 10,000 1,000 |
Shareholders_ Equity
Shareholders’ Equity | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Equity [Abstract] | ||
Shareholders’ Equity | Note 10 – Stockholders’ Equity (Deficit) * Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) On July 6, 2022, the Company’s shareholders approved the Board of Directors’ proposal to increase the number of authorized shares of the Company’s common stock to 60,000,000 shares from 30,000,000 shares. On August 16, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with institutional accredited investors (the “Purchasers”) pursuant to which the Company offered for sale to the Purchasers an aggregate of 172,149 22.80 172,149 28.50 172,149 28.50 3.9 2018 Incentive Compensation Plan The Company’s board of directors and holders of a majority of outstanding shares approved and adopted the Company’s 2018 Incentive Compensation Plan (“2018 Plan”) in May 2018, reserving the issuance of up to 33,333 shares of common stock (subject to certain adjustments) upon exercise of stock options and grants of other equity awards. The 2018 Plan provides for the grant of incentive stock options (“ISOs”), nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based stock awards, other forms of equity compensation and performance cash awards. ISOs may be granted only to employees. All other awards may be granted to employees, including officers, and to the Company’s non-employee directors and consultants, and affiliates. The 2018 Plan was amended July 6, 2022 to increase the 33,333 shares of common stock to 66,667 shares of common stock. Stock Options As of June 30, 2023, the Company had issued stock options to purchase 4,368 four years 25 75 Restricted Stock Units On February 21, 2022, the Company granted 3,333 On October 15, 2022, the Company granted an aggregate of 10,000 On May 19, 2023, the Company granted an aggregate of 8,767 | Note 11 – Shareholders’ Equity * On October 5, 2020, the Company launched an at-the-market offering of up to $ 5,000,000 83,918 3.8 32,526 0.9 127 0.008 During March 2021, the Company completed a public offering by issuing 354,167 17.0 1.2 1.8 On April 7, 2021 the Company closed on the sale of an additional 39,792 48.00 15% 1.91 115,000 On October 1, 2021, the Company completed a stock purchase agreement and issued 27,027 1,200,000 On July 6, 2022, the Company’s shareholders approved the Board of Directors’ proposal to increase the number of authorized shares of the Company’s common stock to 60,000,000 shares from 30,000,000 shares. On August 16, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with institutional accredited investors (the “Purchasers”) pursuant to which the Company offered for sale to the Purchasers an aggregate of 172,149 22.80 172,149 28.50 172,149 28.50 3.9 2018 Incentive Compensation Plan The Company’s board of directors and holders of a majority of outstanding shares approved and adopted the Company’s 2018 Incentive Compensation Plan (“2018 Plan”) in May 2018, reserving the issuance of up to 33,333 Stock Options As of December 31, 2022, the Company had issued non-qualified stock options to purchase 9,152 four years 25% 75% IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) The information below summarizes the stock options: Schedule of Stock Option Activity Number of Weighted Average Weighted Outstanding at December 31, 2020 12,006 $ 102.9 100.50 Granted 1,633 48.00 102.00 Exercised - - - Cancelled (1,404 ) 117.60 43.20 Outstanding at December 31, 2021 12,235 $ 96.90 107.40 Granted - - - Exercised - - - Cancelled (1,020 ) 97.80 49.50 Outstanding at December 31, 2022 11,215 $ 96.90 112.50 Restricted Stock Units On May 21, 2019, the Company granted an aggregate of 9,250 1,000 On October 20, 2020, the Company granted an aggregate of 10,000 On January 30, 2021, the Company granted an aggregate of 567 one year On October 27, 2021 the Company granted 333 On February 21, 2022, the Company granted 3,333 On September 22, 2022, the Company granted an aggregate of 10,000 17,067 one-year Schedule of Restricted Stock Units Number of Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 14,688 $ 54.90 Granted 900 46.80 Vested (6,896 ) 46.80 Cancelled - - Outstanding at December 31, 2021 8,692 $ 60.60 Granted 30,400 15.30 Vested (14,896 ) 28.8 Cancelled (167 ) 13.20 Outstanding at December 31, 2022 24,029 $ 23.40 IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) |
Marketable Securities
Marketable Securities | 9 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Sep. 30, 2022 | |
Theralink Technologies Inc [Member] | ||
Marketable Securities | NOTE 3 – MARKETABLE SECURITIES Marketable Securities During the fiscal year ended 2017, the Company acquired 1,000,000 40,980 2,900 8,600 800 3,700 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) | NOTE 4 – MARKETABLE SECURITIES Marketable Securities During the fiscal year ended 2017, the Company acquired 1,000,000 40,980 7,300 100 3,700 11,000 |
Related-party Transactions
Related-party Transactions | 9 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Sep. 30, 2022 | |
Theralink Technologies Inc [Member] | ||
Related-party Transactions | NOTE 8 – RELATED-PARTY TRANSACTIONS Related-party Transactions Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and was renewed on a month-to-month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement in accordance with the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 15,000 2,000 12,000 On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors, for a principal amount of $ 100,000 250,000 1 2 May 5, 2024 350,000 notes payable – related party 4,219 350,000 notes payable – related parties 5,091 2,474 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On May 12, 2021, the Company and the May 2021 Investor entered into a May 2021 SPA to purchase a convertible May 2021 Note with principal value of $ 1,000,000 1,000,000 20,164 On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 150,000 On November 1, 2021, pursuant to the First November 2021 SPA, the First November 2021 Investor purchased three notes with aggregate principal of $ 1,000,000 54,644,811 1,000,000 20,164 On January 26, 2022, a notice and request for consent regarding a change in offering terms was sent by the Company to the First November 2021 Investor. Upon the approval of the First November 2021 Investor, the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. 218,579,234 34,630 On April 5, 2022, pursuant to the First April 2022 SPA, Matthew Schwartz, a member of the Board of Directors and a related party, purchased a convertible note with principal amount of $ 100,000 4,201,681 100,000 100,000 3,901 On May 9, 2022, pursuant to the May 2022 SPA the May 2022 Investor purchased four convertible notes for an aggregate investment amount of $ 1,000,000 20 1,000,000 42,016,808 1,000,000 20,110 On June 15, 2022, pursuant to the June 2022 SPA, Danica Holley, a member of the Board of Directors and a related party, purchased a convertible note with principal of $ 50,000 2,100,840 50,000 1,173 On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 During the year ended September 30, 2022, the Company advanced a total of $ 13,883 35,594 0 On November 1, 2022, the Company entered into Demand Promissory Note Agreements with two related parties, who are affiliate stockholders, for a principal balance of $ 120,000 8 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) On November 29, 2022, in connection with the Securities Exchange Agreements and New Related Party Convertible Debentures discussed in Note 6, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 On November 29, 2022, the Company consummated the Initial Closing of the Offering pursuant to the terms and conditions of the Purchase Agreement, by and among the Company the Related Party Purchasers and the Collateral Agent. At the Initial Closing, the Company sold the related party Purchasers (i) the New Related Party Debentures in an aggregate principal amount of $ 550,000 157,142,857 100 412,092 50,000 58,200 29,708 On November 29, 2022, the Company entered into Securities Exchange Agreements with the Exchanged Related Party Note Holders and accrued interest payable of $ 120,750 15 10 589,505 4,860,255 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 500 1,000,000 33,315 15 464,992 3,564,937 On April 11, 2023, the Company consummated a third closing (the “Third Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022, by and among the Company and Jeffrey Busch (the “Third Closing Related Party Purchaser”). At the Third Closing, the Company sold the Purchaser (i) a New Debenture with a principal amount of $ 155,100 44,314,286 100 141,000 10 14,100 On May 4, 2023, the Company entered into a Promissory Note Agreement with Douglas Mergenthaler who is a related party, for a principal amount of $ 110,000 100,000 10,000 10 April 28, 2024 1,000,000 110,000 notes payable – related parties 1,718 In May and June 2023, the Company entered into Promissory Note Agreements with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for an aggregate principal amount of $ 376,966 342,681 34,285 10 May and June 2024 1,000,000 376,966 notes payable – related parties 3,126 As of June 30, 2023 and September 30, 2022, the Company owed several executives and directors for expense reimbursements and consulting fees in the aggregate amount of $ 7,972 16,223 On June 30, 2023 and September 30, 2022, net amount due to related parties consisted of the following: Schedule of Related Parties Transaction June 30, 2023 September 30, 2022 Convertible notes principal – related parties $ 9,130,292 $ 4,150,000 Discount on convertible notes - related parties (3,820,629 ) (1,844,186 ) Note payable principal – related parties 836,966 350,000 Discount on notes - related parties (39,769 ) - Accrued liabilities - related parties 536,625 76,927 Accounts payable – related parties 7,972 16,223 Total $ 6,651,457 $ 2,748,964 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) | NOTE 9 – RELATED-PARTY TRANSACTIONS Related-party Transactions Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and shall renew on a month-to month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement in accordance with the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 0 18,000 12,000 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors, for a principal amount of $ 100,000 350,000 250,000 1 2 May 5, 2024 350,000 notes payable – related party 2,474 On May 12, 2021, the Company and the May 2021 Investor entered into a May 2021 SPA to purchase a convertible May 2021 Note and with principal value of $ 1,000,000 1,000,000 20,164 On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 150,000 On November 1, 2021, pursuant to the First November 2021 SPA the First November 2021 Investor purchased three notes with aggregate principal of $ 1,000,000 54,644,811 1,000,000 20,164 On January 26, 2022, a notice and request for consent regarding a change in offering terms was sent by the Company to the First November 2021 Investor. Upon the approval of the First November 2021 Investor, the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. The Company issued additional warrants to purchase up to 218,579,234 34,630 On April 5, 2022, pursuant to the First April 2022 SPA, Matthew Schwartz, a member of the Board of Directors and a related party, purchased a convertible note with principal amount of $ 100,000 4,201,681 100,000 100,000 3,901 On May 9, 2022, pursuant to the May 2022 SPA the May 2022 Investor purchased four convertible notes for an aggregate investment amount of $ 1,000,000 20 1,000,000 42,016,808 1,000,000 20,110 On June 15, 2022, pursuant to the June 2022 SPA, Danica Holley, a member of the Board of Directors and a related party, purchased a convertible note with principal of $ 50,000 2,100,840 50,000 1,173 On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 During the year ended September 30, 2022, the Company advanced a total of $ 13,883 35,594 0 21,711 As of September 30, 2022 and 2021, the Company owed several executives and directors for expense reimbursements and consulting fees in the aggregate amount of $ 16,223 3,714 On September 30, 2022 and 2021, net amount due to related parties consisted of the following: Schedule of Related Parties Transaction September 30, 2022 September 30, 2021 Convertible notes principal – related parties $ 4,150,000 $ 1,000,000 Discount on convertible notes - related parties (1,844,186 ) (935,019 ) Note payable principal – related parties 350,000 100,000 Accrued liabilities - related parties 76,927 18,000 Accounts payable – related parties 16,223 3,714 Other receivable - related party - (21,711 ) Total $ 2,748,964 $ 164,984 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Principles of Consolidation | Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying condensed consolidated financial statements include the accounts of IMAC Holdings, Inc. and the following entities which are consolidated due to direct ownership of a controlling voting interest or other rights granted to us as the sole general partner or managing member of the entity: IMAC Regeneration Center of St. Louis, LLC (“IMAC St. Louis”), IMAC Management Services, LLC (“IMAC Management”), IMAC Regeneration Management, LLC (“IMAC Texas”) IMAC Regeneration Management of Nashville, LLC (“IMAC Nashville”) IMAC Management of Illinois, LLC (“IMAC Illinois”), Advantage Hand Therapy and Orthopedic Rehabilitation, LLC (“Advantage Therapy”), IMAC Management of Florida, LLC (“IMAC Florida”), Louisiana Orthopaedic & Sports Rehab (“IMAC Louisiana”) and The Back Space, LLC (“BackSpace”); the following entity which is consolidated with IMAC Regeneration Management of Nashville, LLC due to control by contract: IMAC Regeneration Center of Nashville, PC (“IMAC Nashville PC”); the following entities which are consolidated with IMAC Management of Illinois, LLC due to control by contract: Progressive Health and Rehabilitation, Ltd., Illinois Spine and Disc Institute, Ltd. and Ricardo Knight, P.C.; the following entities which is consolidated with IMAC Management Services, LLC due to control by contract: Integrated Medicine and Chiropractic Regeneration Center PSC (“Kentucky PC”) and IMAC Medical of Kentucky PSC (“Kentucky PSC”); the following entities which are consolidated with IMAC Florida due to control by contract: Willmitch Chiropractic, P.A. and IMAC Medical of Florida, P.A.; the following entity which is consolidated with Louisiana Orthopaedic & Sports Rehab due to control by contract: IMAC Medical of Louisiana, a Medical Corporation; and the following entities which are consolidated with BackSpace due to control by contract: ChiroMart LLC, ChiroMart Florida LLC, and ChiroMart Missouri LLC. During January of 2023, the Company closed operations at four underperforming clinic locations: Webster Groves, Lexington, Fort Pierce and Tampa. On January 27, 2023, the Company executed an agreement to sell all assets of IMAC of Louisiana, PC and Louisiana Orthopaedic & Sports Rehab, LLC for a total of $ 1.05 On March 1, 2023, the Company executed an agreement to sale The BackSpace, LLC to Curis Express, LLC. This sale eliminated IMAC Holdings, Inc. retail chiropractic division. In addition, the deal included all associated real estate leases and the rights to certain future potential expansion locations. On April 1 2023, the Company executed an agreement to sell all the assets of Ricardo Knight, PC. During May of 2023, the Company closed operations at Springfield, MO, due to significant staff departures and inflationary pressure on replacement personnel. Most assets were sold in June. | Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the accounts of IMAC Holdings, Inc. and the following entities which are consolidated due to direct ownership of a controlling voting interest or other rights granted to us as the sole general partner or managing member of the entity: IMAC Regeneration Center of St. Louis, LLC (“IMAC St. Louis”), IMAC Management Services, LLC (“IMAC Management”), IMAC Regeneration Management, LLC (“IMAC Texas”) IMAC Regeneration Management of Nashville, LLC (“IMAC Nashville”) IMAC Management of Illinois, LLC (“IMAC Illinois”), Advantage Hand Therapy and Orthopedic Rehabilitation, LLC (“Advantage Therapy”), IMAC Management of Florida, LLC (“IMAC Florida”), Louisiana Orthopaedic & Sports Rehab (“IMAC Louisiana”) and The Back Space, LLC (“BackSpace”); the following entity which is consolidated with IMAC Regeneration Management of Nashville, LLC due to control by contract: IMAC Regeneration Center of Nashville, PC (“IMAC Nashville PC”); the following entities which are consolidated with IMAC Management of Illinois, LLC due to control by contract: Progressive Health and Rehabilitation, Ltd., Illinois Spine and Disc Institute, Ltd. and Ricardo Knight, P.C.; the following entities which are consolidated with IMAC Management Services, LLC due to control by contract: Integrated Medicine and Chiropractic Regeneration Center PSC (“Kentucky PC”) and IMAC Medical of Kentucky, PSC (“Kentucky PSC”) ; the following entities which are consolidated with IMAC Florida due to control by contract: Willmitch Chiropractic, P.A. and IMAC Medical of Florida, P.A.; the following entity which is consolidated with Louisiana Orthopaedic & Sports Rehab due to control by contract: IMAC Medical of Louisiana, a Medical Corporation; and the following entities which are consolidated with BackSpace due to control by contract: ChiroMart LLC, ChiroMart Florida LLC, and ChiroMart Missouri LLC. In February 2021, the Company completed the asset purchase of and signed a Management Services Agreement with Willmitch Chiropractic, P.A. in Tampa, Florida. In March 2021, the Company completed the asset purchase of NHC Chiropractic, PLLC dba Synergy Healthcare in Orlando, Florida. In June 2021, the Company completed the asset purchase of Fort Pierce Chiropractic in Fort Pierce, Florida and Active Medical Center in Naperville, Illinois. In October 2021, the Company consummated certain transactions resulting in the acquisition of the outstanding equity interest in Louisiana Orthopaedic & Sports Rehab Institute, Inc, an entity which presents the results of Louisiana Medical due to control by contract. These acquisitions are included in the consolidated financial statements from the date of acquisition. All significant intercompany balances and transactions have been eliminated in consolidation. | ||
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the condensed consolidated financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates. | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the consolidated financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Reclassifications | Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified share-based compensation to salaries and benefits. | Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified share-based compensation to salaries and benefits. | ||
Revenue Recognition | Revenue Recognition The Company’s patient service revenue is derived from non-surgical procedures performed at our outpatient medical clinics. The fees for such services are billed either to the patient or a third-party payer, including Medicare. The Company recognizes service revenues based upon the estimated amounts the Company expects to be entitled to receive from patients and third-party payers. Estimates of contractual adjustments are based upon the payment terms specified in the related contractual agreements. The Company also records estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record these revenues at the estimated amounts expected to be collected. Starting in January 2020, the Company implemented wellness maintenance programs on a subscription basis. There are currently four membership plans offered with different levels of service for each plan. The Company recognizes membership revenue on a monthly basis. Enrollment in the wellness maintenance program can occur at any time during the month and can be dis-enrolled at any time. Starting in June 2021, the Company introduced BackSpace and began offering outpatient chiropractic and spinal care services as well as memberships services in Walmart retail locations. The fees for such services were paid and recognized as incurred. Starting in September 2022, the Company introduced hormone replacement therapy “HRT” and medical weight loss programs. The Company recognizes HRT and medical weight loss revenue as the services are provided. Other management service fees are derived from management services where the Company provides billings and collections support to the clinics and where management services are provided based on state specific regulations known as the corporate practice of medicine (“CPM”). Under the CPM, a business corporation is precluded from practicing medicine or employing a physician to provide professional medical services. In these circumstances, the Company provides all administrative support to the physician-owned PC through a LLC. The PC is consolidated due to control by contract (an “MSA” – Management Services Agreement). The fees we derive from these management arrangements are either based on a predetermined percentage of the revenue of each clinic or a percentage mark up on the costs of the LLC. The company recognizes other management service revenue in the period in which services are rendered. These revenues are earned by IMAC Nashville, IMAC Management, IMAC Illinois, IMAC Florida, IMAC Louisiana and the Back Space and are eliminated in consolidation to the extent owned. | Revenue Recognition The Company’s patient service revenue is derived from non-surgical procedures performed at our outpatient medical clinics. The fees for such services are billed either to the patient or a third-party payer, including Medicare. The Company recognizes service revenues based upon the estimated amounts the Company expects to be entitled to receive from patients and third-party payers. Estimates of contractual adjustments are based upon the payment terms specified in the related contractual agreements. The Company also records estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record these revenues at the estimated amounts expected to be collected. Starting in January 2020, the Company implemented wellness maintenance programs on a subscription basis. There are currently four membership plans offered with different levels of service for each plan. The Company recognizes membership revenue on a monthly basis. Enrollment in the wellness maintenance program can occur at any time during the month and can be dis-enrolled at any time. Starting in June 2021, the Company introduced BackSpace and began offering outpatient chiropractic and spinal care services as well as memberships services in Walmart retail locations. The fees for such services are paid and recognized as incurred. Starting in September 2022, the Company introduced hormone replacement therapy “HRT” and medical weight loss programs. The Company recognizes HRT and medical weight loss revenue as the services are provided. Other management service fees are derived from management services where the Company provides billings and collections support to the clinics and where management services are provided based on state specific regulations known as the corporate practice of medicine (“CPM”). Under the CPM, a business corporation is precluded from practicing medicine or employing a physician to provide professional medical services. In these circumstances, the Company provides all administrative support to the physician-owned PC through a LLC. The PC is consolidated due to control by contract (an “MSA” – Management Services Agreement). The fees we derive from these management arrangements are either based on a predetermined percentage of the revenue of each clinic or a percentage mark up on the costs of the LLC. The company recognizes other management service revenue in the period in which services are rendered. These revenues are earned by IMAC Nashville, IMAC Management, IMAC Illinois, IMAC Florida, IMAC Louisiana and the Back Space and are eliminated in consolidation to the extent owned. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Patient Deposits | Patient Deposits Patient deposits are derived from patient payments in advance of services delivered. Our service lines include traditional and regenerative medicine. Regenerative medicine procedures are rarely paid by insurance carriers; therefore, the Company typically requires up-front payment from the patient for regenerative services and any co-pays and deductibles as required by the patient specific insurance carrier. For some patients, credit is provided through an outside vendor. In this case, the Company is paid from the credit card company and the risk is transferred to the credit card company for collection from the patient. These funds are accounted for as patient deposits until the procedures are performed at which point the patient deposit is recognized as patient service revenue. | Patient Deposits Patient deposits are derived from patient payments in advance of services delivered. Our service lines include traditional and regenerative medicine. Regenerative medicine procedures are rarely paid by insurance carriers; therefore, the Company typically requires up-front payment from the patient for regenerative services and any co-pays and deductibles as required by the patient specific insurance carrier. For some patients, credit is provided through an outside vendor. In this case, the Company is paid from the credit card company and the risk is transferred to the credit card company for collection from the patient. These funds are accounted for as patient deposits until the procedures are performed at which point the patient deposit is recognized as patient service revenue. | ||
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amount of accounts receivable and accounts payable approximate their respective fair values due to the short-term nature. The carrying amount of the line of credit and note payable approximates fair values due to their market interest rates. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. | Fair Value of Financial Instruments The carrying amount of accounts receivable and accounts payable approximate their respective fair values due to the short-term nature. The carrying amount of the line of credit and note payable approximates fair values due to their market interest rates. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. | ||
Variable Interest Entities | Variable Interest Entities Certain states prohibit the “corporate practice of medicine,” which restricts business corporations from practicing medical care by exercising control over clinical decisions by doctors. In states which prohibit the corporate practice of medicine, the Company enters into long-term management agreements with professional corporations (“PCs”) that are owned by licensed doctors, which, in turn employ or contract with doctors who provide professional care in its clinics. Under these management agreements with PCs, the Company provides, on an exclusive basis, all non-clinical services of the practice. The condensed consolidated financial statements include the accounts of variable interest entities (“VIE”) in which the Company is the primary beneficiary under the provisions of the FASB Accounting Standards Codification 810, “ Consolidation | Variable Interest Entities Certain states prohibit the “corporate practice of medicine,” which restricts business corporations from practicing medical care by exercising control over clinical decisions by doctors. In states which prohibit the corporate practice of medicine, the Company enters into long-term management agreements with professional corporations (“PCs”) that are owned by licensed doctors, which, in turn employ or contract with doctors who provide professional care in its clinics. Under these management agreements with PCs, the Company provides, on an exclusive basis, all non-clinical services of the practice. The consolidated financial statements include the accounts of variable interest entities (“VIE”) in which the Company is the primary beneficiary under the provisions of the FASB Accounting Standards Codification 810, “ Consolidation The total assets (excluding goodwill and intangible assets, net) of the consolidated VIEs included in the accompanying consolidated balance sheets as of December 31, 2022 and 2021, were approximately $ 1.8 2.2 0.5 0.6 | ||
Accounts Receivable | Accounts Receivable Accounts receivable primarily consists of amounts due from third-party payers (non-governmental), governmental payers and private pay patients and is recorded net of allowances for doubtful accounts and contractual discounts. The Company’s ability to collect outstanding receivables is critical to its results of operations and cash flows. Accordingly, accounts receivable reported in the Company’s condensed consolidated financial statements is recorded at the net amount expected to be received. The Company’s accounts receivable from third-party payers are recorded net of estimated contractual adjustments and allowances from third-party payers, which are estimated based on the historical trend of the Company’s facilities’ cash collections and contractual write-offs, accounts receivable aging, established fee schedules, relationships with payers and procedure statistics. While changes in estimated reimbursement from third-party payers remain a possibility, the Company expects that any such changes would be minimal and, therefore, would not have a material effect on the Company’s financial condition or results of operations. The Company’s collection policies and procedures are based on the type of payor, size of claim and estimated collection percentage for each patient account. The Company analyzes accounts receivable at each of the facilities to ensure the proper collection and aged category. The operating systems generate reports that assist in the collection efforts by prioritizing patient accounts. Collection efforts include direct contact with insurance carriers or patients and written correspondence. | Accounts Receivable Accounts receivable primarily consists of amounts due from third-party payers (non-governmental), governmental payers and private pay patients and is recorded net of allowances for doubtful accounts and contractual discounts. The Company’s ability to collect outstanding receivables is critical to its results of operations and cash flows. Accordingly, accounts receivable reported in the Company’s consolidated financial statements is recorded at the net amount expected to be received. The Company’s accounts receivable from third-party payers are recorded net of estimated contractual adjustments and allowances from third-party payers, which are estimated based on the historical trend of the Company’s facilities’ cash collections and contractual write-offs, accounts receivable aging, established fee schedules, relationships with payers and procedure statistics. While changes in estimated reimbursement from third-party payers remain a possibility, the Company expects that any such changes would be minimal and, therefore, would not have a material effect on the Company’s financial condition or results of operations. The Company’s collection policies and procedures are based on the type of payor, size of claim and estimated collection percentage for each patient account. The Company analyzes accounts receivable at each of the facilities to ensure the proper collection and aged category. The operating systems generate reports that assist in the collection efforts by prioritizing patient accounts. Collection efforts include direct contact with insurance carriers or patients and written correspondence. | ||
Allowance for Contractual, Other Discounts and Doubtful Accounts | Allowance for Contractual, Other Discounts and Doubtful Accounts Management estimates the allowance for contractual and other discounts based on its historical collection experience and contracted relationship with the payers. The services authorized and provided and related reimbursement are often subject to interpretation and negotiation that could result in payments that differ from the Company’s estimates. In June 2016, the FASB issued Accounting Standards Update (ASU) 2016-13, “Financial Instruments – Credit Losses.” This ASU added a new impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. As a result, the Company changed its accounting policy for allowance for doubtful accounts using an expected losses model rather than using incurred losses. The new model is based on the credit losses expected to arise over the life of the asset based on the Company’s expectations as of the balance sheet date through analyzing historical customer data as well as taking into consideration current economic trends. As a smaller reporting Company pursuant to Rule 12b-2 of the Securities Exchange Act of 1934, as amended, these changes became effective for the Company on January 1, 2023. The adoption of ASU 2016-13 did not have a material financial impact on the Company’s condensed consolidated financial statements. The roll forward of the allowance for doubtful accounts for the six-months ended June 30. 2023 was as follows: Schedule of Allowance for Doubtful Accounts June 30, 2023 (Unaudited) Beginning balance $ 163,479 Bad debt expense 6,795 Write-offs (95,414 ) Ending balance $ 74,860 | Allowance for Doubtful Accounts, Contractual and Other Discounts Management estimates the allowance for contractual and other discounts based on its historical collection experience and contracted relationship with the payers. The services authorized and provided and related reimbursement are often subject to interpretation and negotiation that could result in payments that differ from the Company’s estimates. The Company’s allowance for doubtful accounts is based on historical experience, but management also takes into consideration the age of accounts, creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. An account may be written-off only after the Company has pursued collection efforts or otherwise determines an account to be uncollectible. Uncollectible balances are written-off against the allowance. Recoveries of previously written-off balances are applied against operating expenses when the recoveries are made. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) | ||
Property and Equipment | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Depreciation of owned assets are computed using the straight-line method over the estimated useful lives and amortization of leasehold improvements are computed using the straight-line method over the shorter of the estimated useful lives of the related assets or the lease term. The cost of assets sold or retired, and the related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in other income (expense) for the year. Expenditures for maintenance and repairs are charged to expense as incurred. | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Depreciation of owned assets are computed using the straight-line method over the estimated useful lives and amortization of leasehold improvements are computed using the straight-line method over the shorter of the estimated useful lives of the related assets or the lease term. The cost of assets sold or retired, and the related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in other income (expense) for the year. Expenditures for maintenance and repairs are charged to expense as incurred. | ||
Intangible Assets | Intangible Assets The Company capitalizes the fair value of intangible assets acquired in business combinations. Intangible assets are amortized on a straight-line basis over their estimated economic useful lives, generally the contract term. The Company performs valuations of assets acquired and liabilities assumed on each acquisition accounted for as a business combination and allocates the purchase price of each acquired business to its respective net tangible and intangible assets. The Company records an impairment loss when the carrying amount of the asset is not recoverable and exceeds its fair value. As of June 30, 2023, the Company has sold the assets of the Louisiana market, Illinois market and the BackSpace retail stores. The Louisiana market had a total intangible carrying amount of approximately $ 61,000 265,000 60,000 30,000 | Intangible Assets The Company capitalizes the fair value of intangible assets acquired in business combinations. Intangible assets are amortized on a straight-line basis over their estimated economic useful lives, generally the contract term. The Company performs valuations of assets acquired and liabilities assumed on each acquisition accounted for as a business combination and allocates the purchase price of each acquired business to its respective net tangible and intangible assets. The Company records an impairment loss when the carrying amount of the asset is not recoverable and exceeds its fair value. In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 2,128,000 1,672,000 1,000 | ||
Long-Lived Assets | Long-Lived Assets Long-lived assets such as property and equipment and intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. There were no | Long-Lived Assets Long-lived assets such as property and equipment, operating lease assets and intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Some of the events or changes in circumstances that would trigger an impairment test include, but are not limited to: ● the Company’s expectation to dispose of long-lived assets before the end of their estimated useful lives, even though the assets do not meet the criteria to be classified as “Held for Sale”; ● significant changes in the Company’s stock price per share; ● significant negative industry or economic trends. In March 2022 the Company decided to close a clinic in Florida with a total intangible carrying amount of approximately $ 34,000 Due to a significant drop in share price in the three months ended September 20, 2022, the Company determined that a triggering event occurred. The Company utilized a third-party consultant to perform an impairment test on Management Service Agreements (MSA) in the IMAC Illinois and IMAC Kentucky companies. It was determined that there was an impairment loss of $ 2,128,000 1,672,000 1,000 4.5 | ||
Advertising and Marketing | Advertising and Marketing The Company uses advertising and marketing to promote its services. Advertising and marketing costs are expensed as incurred. Advertising and marketing expense was approximately $ 37,000 243,000 111,000 613,000 | Advertising and Marketing The Company uses advertising and marketing to promote its services. Advertising and marketing costs are expensed as incurred. Advertising and marketing expense was approximately $ 1,100,000 1,325,000 | ||
Net Loss Per Share | Net Loss Per Share Basic net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is determined using the weighted-average of common shares outstanding during the year, adjusted for the dilutive effect of common stock equivalents, consisting of the conversion option embedded in convertible debt. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. | Net Loss Per Share Basic net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is determined using the weighted-average of common shares outstanding during the year, adjusted for the dilutive effect of common stock equivalents, consisting of the conversion option embedded in convertible debt. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. | ||
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized. | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are required to be reduced by a valuation allowance to the extent that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be realized. | ||
Newly Adopted Accounting Pronouncement | Newly Adopted Accounting Pronouncement Topic 326 was effective for the Company beginning on January 1, 2023. This update requires a financial asset (or a group of financial assets) measured at amortized cost basis, to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The Company has evaluated the impact of Topic 326 and has determined it does not have a material financial impact. | |||
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company had no | |||
Goodwill | Goodwill Our goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired and liabilities assumed in business combinations. The goodwill generated from the business combinations is primarily related to the value placed on the employee workforce and expected synergies. Judgment is involved in determining if an indicator or change in circumstances relating to impairment has occurred. Such changes may include, among others, a significant decline in expected future cash flows, a significant adverse change in the business climate, and unforeseen competition. The goodwill test is performed at least annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The annual impairment test includes an option to perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying value; the qualitative test may be performed prior to, or as an alternative to, performing a quantitative goodwill impairment test. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company is required to perform the quantitative goodwill impairment test. Otherwise, no further analysis is required. The Company operates under one reporting unit. The quantitative impairment test involves the comparison of the fair value of the reporting unit to the Company’s carrying value. The Company calculates the fair value of each reporting unit using either (i) a discounted cash flows analysis that converts future cash flow amounts into a single discounted present value amount or (ii) a market approach. The Company assesses the valuation methodology based upon the relevance and availability of the data at the time that the valuation is performed. The Company compares the estimate of fair value for the reporting unit to the carrying value of the reporting unit. If the carrying value is greater than the estimate of fair value, an impairment loss will be recognized in the amount of the excess. IMAC HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Audited) The Company performs its annual impairment test during the fourth quarter of the fiscal year. For the year ended December 31, 2022 the Company elected not to perform a qualitative impairment test and instead went straight to a quantitative assessment. As a result, the Company concluded that it was more-likely-than-not that the carrying value would be greater than the estimated fair value as of December 31, 2022. In addition, given the lack of viable long-term solvency it was determined that it was appropriate to fully impair goodwill. A goodwill impairment loss of $ 4.5 | |||
Theralink Technologies Inc [Member] | ||||
Principles of Consolidation | Basis of Presentation The accompanying interim unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information, which present the unaudited financial statements of the Company as of June 30, 2023. The interim unaudited financial statements do not include all the information and notes necessary for a comprehensive presentation of financial position and results of operations and should be read in conjunction with the September 30, 2022 audited financial statements on Form 10-K filed on December 29, 2022. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments and non-recurring adjustments) have been made for the fair presentation of the unaudited financial statements. The results for the interim period are not necessarily indicative of the results to be expected for the year ending September 30, 2023. | Basis of Presentation Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America which present the consolidated financial statements of the Company and its wholly-owned, inactive subsidiaries, OncBioMune, LLC. (through dissolution date of July 11, 2021) and OncBioMune Sub, Inc. (through sale date of July 26, 2021). All intercompany accounts and transactions have been eliminated in consolidation. | ||
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the periods ended June 30, 2023 and 2022 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use ROU assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances, the fair value of derivative liabilities, and the fair value of non-cash equity transactions. | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the years ended September 30, 2022 and 2021 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use (“ROU”) assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances and the fair value of non-cash equity transactions. | ||
Revenue Recognition | Cost of Revenue Revenue Recognition The cost of revenue consists of the cost of labor, supplies and materials. | Cost of Revenue Revenue Recognition The cost of revenue consists of the cost of labor, supplies and materials. | ||
Fair Value of Financial Instruments | Fair Value of Financial Instruments and Fair Value Measurements Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on June 30, 2023. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, contract liabilities, and accrued compensation approximate their fair market value based on the short-term maturity of these instruments. Assets or liabilities measured at fair value on a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on June 30, 2023 and September 30, 2022: Schedule of Fair Value Measured on Recurring Basis June 30, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 33,484,450 $ — $ — $ — A roll forward of the level 3 valuation financial instruments is as follows: Schedule of Valuation on Derivative Instruments 2023 2022 For the Nine Months Ended June 30, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 17,042,100 - Initial valuation of derivative liabilities included in derivative expense 27,438,113 - Change in fair value included in derivative expense (10,995,763 ) - Balance at end of period $ 33,484,450 $ - ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) | Fair Value of Financial Instruments and Fair Value Measurements Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on September 30, 2022 and 2021. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. | ||
Allowance for Contractual, Other Discounts and Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Allowance for Contractual, Other Discounts and Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. | Accounts Receivable and Allowance for Doubtful Accounts Allowance for Contractual, Other Discounts and Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. | ||
Property and Equipment | Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five years | Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five years | ||
Net Loss Per Share | Basic and Diluted Loss Per Share Net Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following table presents a reconciliation of basic and diluted net income (loss) per common share: Schedule of Basic and Diluted Net Income (loss) Per Common Share 2023 2022 2023 2022 Three Months Ended June 30, Nine Months Ended June 30, 2023 2022 2023 2022 Net income (loss) per common share - basic: Net income (loss) attributable to common shareholders $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Net income (loss) per common share – basic $ 0.00 $ (0.00 ) $ (0.01 ) $ (0.00 ) Net income (loss) per common share - diluted: Net income (loss) attributable to common shareholders - basic $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Add: interest on convertible debt 5,060,163 - - - Less: derivative gain (11,482,036 ) - - - Numerator for loss per common share – diluted $ (1,921,824 ) $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Add: dilutive shares related to: Stock options - - - - Warrants 1,555,920,022 - - - Convertible debt 13,439,835,126 - - - Weighted average common shares outstanding – diluted 21,147,255,067 6,062,411,449 6,151,499,919 5,732,126,399 Net loss per common share – diluted $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.00 ) The following potentially dilutive equity securities outstanding as of June 30, 2023 and 2022 were not included in the computation of dilutive income (loss) per common share because the effect would have been anti-dilutive: Schedule of Anti-dilutive Shares Outstanding 2023 2022 June 30, 2023 2022 Stock warrants 7,244,334,819 1,876,207,963 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 156,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 13,439,835,126 1,417,522,294 Total antidilutive securities excluded from computation of earnings 22,606,747,999 4,861,890,015 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) | Basic and Diluted Loss Per Share Net Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following potentially dilutive equity securities outstanding as of September 30, 2022 and 2021 were not included in the computation of dilutive loss per common share because the effect would have been anti-dilutive: Schedule of Anti-dilutive Shares Outstanding 2022 2021 September 30, 2022 2021 Stock warrants 1,888,813,005 984,470,116 Stock options 1,901,410,519 - Series C-1 preferred stock 156,626,175 445,301,289 Series C-2 preferred stock 453,067,129 733,542,619 Series E preferred stock 638,977,636 638,977,636 Series F preferred stock 319,488,818 319,488,818 Convertible notes 1,813,880,837 319,488,711 Total antidilutive securities excluded from computation of earnings 7,172,264,119 3,441,269,189 | ||
Income Taxes | Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no | Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no | ||
Newly Adopted Accounting Pronouncement | Recent Accounting Pronouncements Newly Adopted Accounting Pronouncement On October 1, 2022, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASC 326). The standard replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. Further, the FASB issued ASU 2019-04 and ASU 2019-05 to provide additional guidance on the credit losses standard. While the adoption of ASC 326 could result in a higher allowance recorded in the future for credit losses on receivables within the scope of the standard due to the prescribed measurement principles, the impact of the adoption on the Company’s consolidated financial statements was not material. Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. | Recent Accounting Pronouncements Newly Adopted Accounting Pronouncement In August 2020, the FASB issued ASU 2020-06— Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”) Debt with Conversion and Other Options 1. Added a disclosure objective 2. Added information about events or conditions that occur during the reporting period that cause conversion contingencies to be met or conversion terms to be significantly changed 3. Added information on which party controls the conversion rights 4. Aligned disclosure requirements for contingently convertible instruments with disclosure requirements for other convertible instruments 5. Required that existing fair value disclosures in Topic 825, Financial Instruments, be provided at the individual convertible instrument level rather than in the aggregate. Additionally, for convertible debt instruments with substantial premiums accounted for as paid-in capital, amendments in ASU 2020-06 added disclosures about (1) the fair value amount and the level of fair value hierarchy of the entire instrument for public business entities and (2) the premium amount recorded as paid-in capital. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The amendments in ASU 2020-06 are effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Entities should adopt the guidance as of the beginning of its annual fiscal year and are allowed to adopt the guidance through either a modified retrospective method of transition or a fully retrospective method of transition. In applying the modified retrospective method, entities should apply the guidance to transactions outstanding as of the beginning of the fiscal year in which the amendments are adopted. Transactions that were settled (or expired) during prior reporting periods are unaffected. The cumulative effect of the change should be recognized as an adjustment to the opening balance of retained earnings at the date of adoption. If an entity elects the fully retrospective method of transition, the cumulative effect of the change should be recognized as an adjustment to the opening balance of retained earnings in the first comparative period presented. The Company early adopted ASU 2020-06 and its adoption did not have any material impact on the Company’s financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260) Debt-Modifications and Extinguishments (Subtopic 470-50) Compensation-Stock Compensation (Topic 718) Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. | ||
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. | ||
Going Concern | Going Concern These unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had net loss and net cash used in operations of $ 40,522,680 4,270,783 103,369,949 47,498,939 47,854,723 25,089 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes, convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | Going Concern These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, the Company had net loss and net cash used in operations of $ 12,741,962 5,389,695 62,807,817 6,801,055 2,808,736 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | ||
Prepaid Assets | Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of June 30, 2023 and September 30, 2022 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. | Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of September 30, 2022 and 2021 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. | ||
Laboratory Supplies | Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. | Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. | ||
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. | Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. | ||
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment | Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment | ||
Revenue Recognition and Contract Assets and Liabilities | Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. During the nine months ended June 30, 2023 and 2022, revenues by category is as follows: Schedule of Revenues by Category Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Biopharma services $ 305,960 $ 241,843 Patient testing service 121,569 20,845 Total revenues $ 427,529 $ 262,688 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) The revenue recognized from services provided to private individuals during the three and nine months ended June 30, 2023 and 2022 were minimal and therefore were not disaggregated for disclosure purposes. | Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by a contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. The revenue recognized from services provided to private individuals during the years ended September 30, 2022 and 2021 were minimal and therefore was not disaggregated for disclosure purposes. THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 | ||
Contract Liabilities | Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. For the nine months ended June 30, 2023 and 2022, contract liabilities activity is as follows: Schedule of Contract Liabilities Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 325,048 Less: revenues recognized during the period (55,575 ) (157,525 ) Total contract liabilities $ 260,440 $ 302,672 During the nine months ended June 30, 2023, the Company recognized $ 55,575 41,500 | Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. Contract liabilities as of September 30, 2022 and 2021 are as follows: Schedule of Contract Liabilities September 30, 2022 September 30, 2021 Contract liabilities beginning balance $ 135,150 $ — Billings and cash receipts on uncompleted contracts 325,048 281,012 Less: revenues recognized during the period (303,648 ) (145,862 ) Total contract liabilities $ 156,550 $ 135,150 During the year ended September 30, 2022, the Company recognized $ 303,648 54,600 | ||
Research and Development | Research and Development In fiscal 2022, the Company joined and made an investment in an investigator-initiated study. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples for the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in September 2021 50,000 100,000 | Research and Development The Company joined and made an investment in an investigator-initiated study during the year ended September 30, 2022. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples in the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in January 2022 150,000 0 | ||
Derivative Liabilities | Derivative Liabilities The Company has certain financial instruments that are embedded derivatives associated with capital raises. The Company evaluates all its financial instruments to determine if those contracts or any potential embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10 - Derivative and Hedging - Contract in Entity’s Own Equity | |||
Concentrations | Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 0 186,466 Concentration of Revenues For the nine months ended June 30, 2023, the Company generated total revenue of $ 427,529 73.5 26.3 19.3 10.6 17.3 262,688 32 23 17 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2023 (UNAUDITED) Concentration of Accounts Receivable As of June 30, 2023, the Company had net accounts receivable of $ 15,000 100 32,125 59 41 Concentration of Contract Liabilities As of June 30, 2023, the Company had deferred revenue reflected as contract liabilities of $ 260,440 96 156,550 65 24 Concentration of Vendors Historically, the Company relied on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the nine months ended June 30, 2023 and 2022, the Company incurred $ 0 275,372 | Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 186,466 68,122 Concentration of Revenues For the year ended September 30, 2022, the Company generated total revenue of $ 567,905 21 15 14 10 505,604 31 12 12 11 THERALINK TECHNOLOGIES, INC. NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2022 AND 2021 Concentration of Accounts Receivable As of September 30, 2022, the Company had net accounts receivable of $ 32,125 59 41 Concentration of Contract Liabilities As of September 30, 2022, the Company had deferred revenue reflected as contract liabilities of $ 156,550 65 24 135,150 56 24 16 Concentration of Vendors Generally, the Company relies on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the years ended September 30, 2022 and 2021, the Company incurred $ 272,904 860,954 | ||
Related Parties | Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. | Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. | ||
Leases | Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represent the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the unaudited statements of operations. | Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represents the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the statements of operations. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | |
Schedule of Allowance for Doubtful Accounts | The roll forward of the allowance for doubtful accounts for the six-months ended June 30. 2023 was as follows: Schedule of Allowance for Doubtful Accounts June 30, 2023 (Unaudited) Beginning balance $ 163,479 Bad debt expense 6,795 Write-offs (95,414 ) Ending balance $ 74,860 | ||
Theralink Technologies Inc [Member] | |||
Schedule of Fair Value Measured on Recurring Basis | Assets or liabilities measured at fair value on a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on June 30, 2023 and September 30, 2022: Schedule of Fair Value Measured on Recurring Basis June 30, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 33,484,450 $ — $ — $ — | ||
Schedule of Valuation on Derivative Instruments | A roll forward of the level 3 valuation financial instruments is as follows: Schedule of Valuation on Derivative Instruments 2023 2022 For the Nine Months Ended June 30, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 17,042,100 - Initial valuation of derivative liabilities included in derivative expense 27,438,113 - Change in fair value included in derivative expense (10,995,763 ) - Balance at end of period $ 33,484,450 $ - | ||
Schedule of Revenues by Category | Schedule of Revenues by Category Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Biopharma services $ 305,960 $ 241,843 Patient testing service 121,569 20,845 Total revenues $ 427,529 $ 262,688 | ||
Schedule of Contract Liabilities | For the nine months ended June 30, 2023 and 2022, contract liabilities activity is as follows: Schedule of Contract Liabilities Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 325,048 Less: revenues recognized during the period (55,575 ) (157,525 ) Total contract liabilities $ 260,440 $ 302,672 | Contract liabilities as of September 30, 2022 and 2021 are as follows: Schedule of Contract Liabilities September 30, 2022 September 30, 2021 Contract liabilities beginning balance $ 135,150 $ — Billings and cash receipts on uncompleted contracts 325,048 281,012 Less: revenues recognized during the period (303,648 ) (145,862 ) Total contract liabilities $ 156,550 $ 135,150 | |
Schedule of Basic and Diluted Net Income (loss) Per Common Share | The following table presents a reconciliation of basic and diluted net income (loss) per common share: Schedule of Basic and Diluted Net Income (loss) Per Common Share 2023 2022 2023 2022 Three Months Ended June 30, Nine Months Ended June 30, 2023 2022 2023 2022 Net income (loss) per common share - basic: Net income (loss) attributable to common shareholders $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Net income (loss) per common share – basic $ 0.00 $ (0.00 ) $ (0.01 ) $ (0.00 ) Net income (loss) per common share - diluted: Net income (loss) attributable to common shareholders - basic $ 4,500,049 $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Add: interest on convertible debt 5,060,163 - - - Less: derivative gain (11,482,036 ) - - - Numerator for loss per common share – diluted $ (1,921,824 ) $ (1,768,629 ) $ (40,562,132 ) $ (5,236,563 ) Weighted average common shares outstanding – basic 6,151,499,919 6,062,411,449 6,151,499,919 5,732,126,399 Add: dilutive shares related to: Stock options - - - - Warrants 1,555,920,022 - - - Convertible debt 13,439,835,126 - - - Weighted average common shares outstanding – diluted 21,147,255,067 6,062,411,449 6,151,499,919 5,732,126,399 Net loss per common share – diluted $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.00 ) | ||
Schedule of Anti-dilutive Shares Outstanding | The following potentially dilutive equity securities outstanding as of June 30, 2023 and 2022 were not included in the computation of dilutive income (loss) per common share because the effect would have been anti-dilutive: Schedule of Anti-dilutive Shares Outstanding 2023 2022 June 30, 2023 2022 Stock warrants 7,244,334,819 1,876,207,963 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 156,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 13,439,835,126 1,417,522,294 Total antidilutive securities excluded from computation of earnings 22,606,747,999 4,861,890,015 | Schedule of Anti-dilutive Shares Outstanding 2022 2021 September 30, 2022 2021 Stock warrants 1,888,813,005 984,470,116 Stock options 1,901,410,519 - Series C-1 preferred stock 156,626,175 445,301,289 Series C-2 preferred stock 453,067,129 733,542,619 Series E preferred stock 638,977,636 638,977,636 Series F preferred stock 319,488,818 319,488,818 Convertible notes 1,813,880,837 319,488,711 Total antidilutive securities excluded from computation of earnings 7,172,264,119 3,441,269,189 |
Concentration of Credit Risks (
Concentration of Credit Risks (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Risks and Uncertainties [Abstract] | ||
Schedule of Concentration Risk | As of June 30, 2023 and December 31, 2022, the Company had the following revenue and accounts receivable concentrations: Schedule of Concentration Risk June 30, 2023 December 31, 2022 % of Revenue % of Accounts Receivable % of Revenue % of Accounts Receivable (Unaudited) Medicare payment 25 % 20 % 32 % 18 % | As of December 31, 2022 and 2021, the Company had revenue and accounts receivable concentration related to payments from Medicare as outlined in the table below: Schedule of Concentration Risk 2022 2021 % of % of % of % of Medicare payments 32 % 18 % 37 % 16 % |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Schedule of Accounts Receivable | As of June 30, 2023 and December 31, 2022, the Company’s accounts receivable consisted of the following: Schedule of Accounts Receivable June 30, 2023 December 31, 2022 (Unaudited) Gross accounts receivable $ 753,463 $ 3,044,718 Less: allowance for doubtful accounts (74,860 ) (163,479 ) Accounts receivable, net $ 678,603 $ 2,881,239 | Accounts receivable consisted of the following at December 31: Schedule of Accounts Receivable 2022 2021 Accounts receivable, net of contractual adjustments $ 3,044,718 $ 1,290,312 Less: allowance for doubtful accounts (163,479 ) (80,979 ) Accounts receivable, net $ 2,881,239 $ 1,209,333 | ||
Theralink Technologies Inc [Member] | ||||
Schedule of Accounts Receivable | On June 30, 2023 and September 30, 2022, accounts receivable consisted of the following: Schedule of Accounts Receivable June 30, 2023 September 30, 2022 Accounts receivable $ 29,000 $ 35,957 Less: allowance for doubtful accounts (14,000 ) (3,832 ) Accounts receivable, net $ 15,000 $ 32,125 | On September 30, 2022 and 2021, accounts receivable consisted of the following: Schedule of Accounts Receivable September 30, 2022 September 30, 2021 Accounts receivable $ 35,957 $ - Less: allowance for doubtful accounts (3,832 ) - Accounts receivable, net $ 32,125 $ - |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Schedule of Property and Equipment | The Company’s property and equipment consisted of the following at June 30, 2023 and December 31, 2022: Schedule of Property and Equipment Estimated Useful Life in Years June 30, 2023 December 31, 2022 (Unaudited) Leasehold improvements Shorter of asset or lease term $ 1,712,019 $ 2,233,603 Equipment 1.5 7 1,989,567 2,820,166 Total property and equipment 3,701,586 5,053,769 Less: accumulated depreciation (3,135,743 ) (3,476,977 ) Property and equipment, excluding construction in progress 565,843 1,576,792 Construction in progress - 7,922 Total property and equipment, net $ 565,843 $ 1,584,714 | Property and equipment consisted of the following at December 31: Schedule of Property and Equipment Estimated Useful Life in Years 2022 2021 Leasehold improvements Shorter of asset or lease term $ 2,233,603 $ 2,127,762 Equipment 1.5 10 2,820,166 2,810,028 Total property and equipment 5,053,769 4,937,790 Less: accumulated depreciation (3,476,977 ) (2,990,902 ) Property and equipment, excluding construction 1,576,792 1,946,888 Construction in progress 7,922 376,275 Total property and equipment, net $ 1,584,714 $ 2,323,163 | ||
Theralink Technologies Inc [Member] | ||||
Schedule of Property and Equipment | Schedule of Property and Equipment Estimated Useful Life in Years June 30, 2023 September 30, 2022 Laboratory equipment 5 $ 358,388 $ 597,059 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 353,826 Computer equipment 3 76,470 68,490 Property and equipment gross 813,251 1,043,942 Less accumulated depreciation (479,913 ) (357,815 ) Property and equipment, net $ 333,338 $ 686,127 | Schedule of Property and Equipment Estimated Useful Life in Years September 30, 2022 September 30, 2021 Laboratory equipment 5 $ 597,059 $ 470,159 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 349,115 Computer equipment 3 68,490 68,490 Property and equipment gross 1,043,942 912,331 Less accumulated depreciation (357,815 ) (213,404 ) Property and equipment, net $ 686,127 $ 698,927 |
Intangibles Assets and Goodwi_2
Intangibles Assets and Goodwill (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Schedule of Intangible Assets and Goodwill | The Company’s intangible assets and goodwill consisted of the following at June 30, 2023 and December 31, 2022: Schedule of Intangible Assets and Goodwill June 30, 2023 (Unaudited) Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 4,224,113 $ (3,565,970 ) $ 658,143 Definite lived assets 4,224,113 (3,565,970 ) 658,143 Research and development 243,750 - 243,750 Total intangible assets and goodwill $ 4,467,863 $ (3,565,970 ) $ 901,893 December 31, 2022 Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (6,939,916 ) $ 1,000,482 Non-compete agreements 3 391,000 (359,125 ) 31,875 Customer lists 3 77,000 (48,125 ) 28,875 Brand development 15 69,071 (8,596 ) 60,475 Definite lived assets 8,477,469 (7,355,762 ) 1,121,707 Research and development 243,750 - 243,750 Goodwill 4,499,796 (4,499,796 ) - Total intangible assets and goodwill $ 13,221,015 $ (11,855,558 ) $ 1,365,457 | Intangible assets that were acquired in connection with the acquisition transactions (Note 6) during 2022 and 2021: Schedule of Intangible Assets and Goodwill December 31, 2022 Estimated Accumulated Useful Life Cost Impairment Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (6,939,916 ) $ 1,000,482 Non-compete agreements 3 391,000 (359,125 ) 31,875 Intellectual property agreements 2 77,000 (48,125 ) 28,875 Brand development 15 69,071 (8,596 ) 60,475 Definite lived assets 8,477,469 (7,355,762 ) 1,121,707 Research and development 243,750 - 243,750 Goodwill 4,499,796 (4,499,796 ) - Total intangible assets and goodwill $ 13,221,015 $ (11,855,558 ) $ 1,365,457 December 31, 2021 Estimated Accumulated Useful Life Cost Amortization Net Intangible assets: Management service agreements 10 $ 7,940,398 $ (2,500,418 ) $ 5,439,980 Non-compete agreements 3 306,000 (302,458 ) 3,542 Customer lists 3 134,882 (89,921 ) 44,961 Brand development 15 69,071 (3,835 ) 65,236 Definite lived assets 8,450,351 (2,896,632 ) 5,553,719 Research and development 243,750 - 243,750 Goodwill 4,661,796 - 4,661,796 Total intangible assets and goodwill $ 13,355,897 $ (2,896,632 ) $ 10,459,265 |
Schedule of Future Amortization of Intangible Assets | The Company’s estimated future amortization of intangible assets was as follows: Schedule of Future Amortization of Intangible Assets Years Ending December 31, (Unaudited) 2023 (six months) $ 65,814 2024 131,629 2025 131,629 2026 131,629 2027 131,629 Thereafter 65,813 Total $ 658,143 | Schedule of Future Amortization of Intangible Assets Years Ending December 31, 2023 $ 241,227 2024 180,477 2025 180,477 2026 180,477 2027 180,477 Thereafter 158,572 Total $ 1,121,707 |
Operating Leases (Tables)
Operating Leases (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Schedule of Operating Lease Cost | Individual components of the total lease cost incurred by the Company were as follows: Schedule of Operating Lease Cost Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (Unaudited) (Unaudited) Operating lease expense $ 747,698 $ 830,373 | Individual components of the total lease cost incurred by the Company is as follows: Schedule of Operating Lease Cost Year Ended December 31, Year Ended December 31, Operating lease expense $ 1,622,466 $ 1,333,916 | ||
Schedule of Future Minimum Lease Payments of Operating Lease | The Company’s amount of future minimum lease payments under operating leases are as follows: Schedule of Future Minimum Lease Payments Operating Leases (Unaudited) Undiscounted future minimum lease payments: 2023 (six months) $ 538,112 2024 734,612 2025 468,745 2026 236,609 2027 73,823 Thereafter 81,691 Total 2,133,592 Amount representing imputed interest (143,280 ) Total operating lease liability 1,990,312 Current portion of operating lease liability (947,657 ) Operating lease liability, non-current $ 1,042,655 | The amount of future minimum lease payments under operating are as follows: Schedule of Future Minimum Lease Payments Operating Undiscounted future minimum lease payments: 2023 $ 1,545,103 2024 1,152,928 2025 887,061 2026 628,509 2027 137,383 Thereafter 81,691 Total 4,432,675 Amount representing imputed interest (410,555 ) Total operating lease liability 4,022,120 Current portion of operating lease liability (1,368,016 ) Operating lease liability, non-current $ 2,654,104 | ||
Schedule of Operating Lease Right of Use Assets | Right of use assets are included in the consolidated Balance Sheet as follows: Schedule of Operating Lease Right of Use Assets December 31, December 31, Non-current assets Right of use assets, net of amortization $ 3,623,078 $ 4,948,393 | |||
Theralink Technologies Inc [Member] | ||||
Schedule of Future Minimum Lease Payments of Operating Lease | Future base lease payments under the non-cancellable operating lease on June 30, 2023 are as follows: Schedule of Future Minimum Lease Payments of Operating Lease Years ending June 30, Amount 2024 $ 121,993 2025 125,652 2026 129,422 2027 134,179 2028 138,204 Thereafter 1,309,553 Total minimum non-cancellable operating lease payments 1,959,003 Less: discount to fair value (794,465 ) Total operating lease liability on June 30, 2023 $ 1,164,538 | Future base lease payments under the non-cancellable operating lease on September 30, 2022 are as follows: Schedule of Future Minimum Lease Payments of Operating Lease Years ending September 30, Amount 2023 $ 119,310 2024 122,893 2025 126,580 2026 130,377 2027 and thereafter 1,549,130 Total minimum non-cancellable operating lease payments 2,048,290 Less: discount to fair value (864,978 ) Total operating lease liability on September 30, 2022 $ 1,183,312 | ||
Schedule of Financial Lease Right-of-use Assets | Financing lease right-of-use assets (“Financing ROU”) is summarized below: Schedule of Financial Lease Right-of-use Assets June 30, 2023 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (201,663 ) (166,887 ) Balance of Financing ROU assets $ 30,178 $ 64,954 | Financing lease right-of-use assets (“Financing ROU”) is summarized below: Schedule of Financial Lease Right-of-use Assets September 30, 2022 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (166,887 ) (120,518 ) Balance of Financing ROU assets $ 64,954 $ 111,323 | ||
Schedule of Financing Lease Liability Related to Financing Right-of-use Assets | Financing lease liability related to the Financing ROU assets is summarized below: Schedule of Financing Lease Liability Related to Financing Right-of-use Assets June 30, 2023 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (183,318 ) (143,456 ) Total 48,523 88,385 Less: short term portion (39,565 ) (53,995 ) Long term portion $ 8,958 $ 34,390 | Financing lease liability related to the Financing ROU assets is summarized below: Schedule of Financing Lease Liability Related to Financing Right-of-use Assets September 30, 2022 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (143,456 ) (95,726 ) Total 88,385 136,115 Less: short term portion (53,995 ) (47,730 ) Long term portion $ 34,390 $ 88,385 | ||
Schedule of Future Minimum Lease Payments Under Financing Lease | Future minimum lease payments under the financing lease agreements on June 30, 2023 are as follows: Schedule of Future Minimum Lease Payments Under Financing Lease Years ending June 30, Amount 2024 $ 42,237 2025 9,164 Total minimum financing lease payments 51,401 Less: discount to fair value (2,878 ) Total financing lease payable on June 30, 2023 $ 48,523 | Future minimum lease payments under the financing lease agreements on September 30, 2022 are as follows: Schedule of Future Minimum Lease Payments Under Financing Lease Years ending September 30, Amount 2023 $ 62,762 2024 31,900 2025 4,185 Total minimum financing lease payments 98,846 Less: discount to fair value (10,461 ) Total financing lease payable on September 30, 2022 $ 88,385 | ||
Schedule of Operating Right-of-use Asset | Operating Right-of-use asset (“ROU”) is summarized below: Schedule of Operating Right-of-use Assets June 30, 2023 September 30, 2022 Operating office lease $ 1,212,708 $ 1,212,708 Less accumulated reduction (95,539 ) (57,847 ) Balance of Operating ROU asset $ 1,117,169 $ 1,154,861 | Operating Right-of-use asset (“ROU”) is summarized below: Schedule of Operating Right-of-use Asset September 30, 2022 September 30, 2021 Operating office lease $ 1,212,708 $ 231,337 Less accumulated reduction (57,847 ) (62,673 ) Balance of Operating ROU asset $ 1,154,861 $ 168,664 | ||
Schedule of Operating Lease Liability Related to Right-of-use Assets | Operating lease liability related to the ROU asset is summarized below: Schedule of Operating Lease Liability Related to Right-of-use Assets June 30, 2023 September 30, Operating office lease $ 1,212,708 $ 1,212,708 Total operating lease liability 1,212,708 1,212,708 Reduction of operating lease liability (48,170 ) (29,396 ) Total 1,164,538 1,183,312 Less: short term portion (29,880 ) (25,551 ) Long term portion $ 1,134,658 $ 1,157,761 | Operating lease liability related to the ROU asset is summarized below: Schedule of Operating Lease Liability Related to Right-of-use Assets September 30, 2022 September 30, Operating office lease $ 1,212,708 $ 231,337 Total operating lease liability 1,212,708 231,337 Reduction of operating lease liability (29,396 ) (54,444 ) Total 1,183,312 176,893 Less: short term portion (25,551 ) (42,411 ) Long term portion $ 1,157,761 $ 134,482 |
Notes Payable (Tables)
Notes Payable (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Schedule of Notes Payable | Set forth below is a summary of the Company’s outstanding debt as of June 30, 2023 and December 31, 2022: Schedule of Notes Payable June 30, December 31, 2023 2022 (Unaudited) Note payable $ - $ 13,093 Note payable to a financial institution in the amount of $ 200,000 66 consecutive monthly installments 2,652 5 60,000 $ - $ 13,093 Note payable to a financial institution in the amount of $ 131,400 120 monthly installments 1,394 5 July 1, 2026 47,697 54,763 $ 112,800 60 monthly installments 2,129 5 June 1, 2024 26,882 36,840 Notes payable 74,579 104,696 Less: current portion: (39,435 ) (51,657 ) Notes payable, net of current portion $ 35,144 $ 53,039 | Set forth below is a summary of the Company’s outstanding debt as of December 31, 2022 and December 31, 2021: Schedule of Notes Payable December 31, December 31, 2022 2021 Note payable to a financial institution in the amount of $ 200,000 66 2,652 5 60,000 May 15, 2023 $ 13,093 $ 43,413 Note payable to a financial institution in the amount of $ 131,400 120 1,394 5 July 1, 2026 54,763 68,378 $ 112,800 60 2,129 5 June 1, 2024 36,840 59,913 Note payable to a financial institution in the amount of $ 140,000 36 4,225 5.39 September 19, 2022 - 37,179 Note payable in the amount of $ 2,690,000 April 29, 2022 7 - 150,301 Notes payable 104,696 359,184 Less: current portion: (51,657 ) (254,487 ) Notes payable, net of current portion $ 53,039 $ 104,697 | ||
Schedule of Principal Maturities of Notes Payable | Principal maturities of the Company’s notes payable are as follows: Schedule of Principal Maturities of Notes Payable Years Ending December 31, Amount 2023 (six months) $ 21,540 2024 27,631 2025 15,813 2026 9,595 Total $ 74,579 | Principal maturities of notes payable are as follows: Schedule of Principal Maturities of Notes Payable Years Ending December 31, Amount 2023 $ 51,657 2024 27,631 2025 15,813 2026 9,595 Total $ 104,696 | ||
Theralink Technologies Inc [Member] | ||||
Schedule of Convertible Notes Payable | On June 30, 2023 and September 30, 2022, convertible notes payable (third parties and related parties) consisted of the following: Schedule of Convertible Notes Payable June 30, 2023 September 30, 2022 Principal amount $ 8,986,605 $ 2,475,000 Less: debt discount (3,799,271 ) (2,028,719 ) Convertible notes payable, net 5,187,334 446,281 Less: current portion of convertible notes payable - related parties (5,187,334 ) - Convertible notes payable, net – long-term $ - $ 446,281 Principal amount – related parties $ 9,130,292 $ 4,150,000 Less: debt discount – related parties (3,820,629 ) (1,844,186 ) Convertible notes payable - related parties, net 5,309,663 2,305,814 Less: current portion of convertible notes payable - related parties (5,309,663 ) (1,000,000 ) Convertible notes payable - related parties, net – long-term $ - $ 1,305,814 Total convertible notes payable, net $ 10,496,997 $ 2,752,095 | On September 30, 2022 and 2021, the convertible notes payable consisted of the following: Schedule of Convertible Notes Payable September 30, 2022 September 30, 2021 Principal amount $ 2,475,000 $ — Less: debt discount (2,028,719 ) — Convertible notes payable, net $ 446,281 $ — Principal amount – related parties $ 4,150,000 $ 1,000,000 Less: debt discount – related parties (1,844,186 ) (935,019 ) Convertible notes payable - related parties, net 2,305,814 64,981 Less: current portion (1,000,000 ) - Convertible notes payable - related parties, net – long-term $ 1,305,814 $ 64,981 Total convertible notes payable, net $ 2,752,095 $ 64,981 | ||
Schedule of Fair Value of Embedded Option and Stock Warrants | During the nine months ended June 30, 2023, the fair value of the embedded options and stock warrants were estimated at issuance using the Binomial Valuation Model with the following assumptions: Schedule of Fair Value of Embedded Option and Stock Warrants 2023 Dividend rate — % Term (in years) 0.42 6.5 Volatility 172.14 396.53 % Risk—free interest rate 3.60 5.47 % | |||
Schedule of Notes Payable - Related Parties | On June 30, 2023 and September 30, 2022, notes payable - related parties consisted of the following: Schedule of Notes Payable - Related Parties June 30, 2023 September 30, 2022 Principal amount $ 836,966 $ 350,000 Less: debt discount (39,769 ) - Notes payable – related parties, net 797,197 350,000 Less: current portion of notes payable - related parties (797,197 ) (350,000 ) Notes payable – related parties, net – long-term $ - $ - |
Shareholders_ Equity (Tables)
Shareholders’ Equity (Tables) | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Subsidiary or Equity Method Investee [Line Items] | |||
Schedule of Stock Option Activity | The information below summarizes the stock options: Schedule of Stock Option Activity Number of Weighted Average Weighted Outstanding at December 31, 2020 12,006 $ 102.9 100.50 Granted 1,633 48.00 102.00 Exercised - - - Cancelled (1,404 ) 117.60 43.20 Outstanding at December 31, 2021 12,235 $ 96.90 107.40 Granted - - - Exercised - - - Cancelled (1,020 ) 97.80 49.50 Outstanding at December 31, 2022 11,215 $ 96.90 112.50 | ||
Schedule of Restricted Stock Units | Schedule of Restricted Stock Units Number of Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 14,688 $ 54.90 Granted 900 46.80 Vested (6,896 ) 46.80 Cancelled - - Outstanding at December 31, 2021 8,692 $ 60.60 Granted 30,400 15.30 Vested (14,896 ) 28.8 Cancelled (167 ) 13.20 Outstanding at December 31, 2022 24,029 $ 23.40 | ||
Schedule of Components of Income tax Benefits | Schedule of Components of Income tax Benefits December 31, December 31, Current income tax expense (refund) - federal $ - $ - Current income tax expense (refund) - state - - Total current income tax expense (refund) - - Deferred income tax expense (benefit) - federal - - Deferred income tax expense (benefit) - state - - Total deferred income tax expense (benefit) - - Total provision for income taxes $ - $ - | ||
Schedule of Deferred Tax Assets | The tax effects of temporary differences which give rise to the significant portions of deferred tax assets or liabilities at December 31, 2022 and 2021 are as follows: Schedule of Deferred Tax Assets and Liabilities December 31, December 31, Deferred tax assets: Reserves & allowances $ 20,738 $ 20,880 Charitable contribution carry-forward 3,000 3,020 Net operating loss carry-forward - federal 7,778,105 6,049,391 Net operating loss carry-forward - state 2,294,317 1,887,147 Amortization 2,029,833 - Non-qualified stock options 459,093 349,328 Total deferred tax assets $ 12,585,086 $ 8,309,766 Deferred tax liabilities: Depreciation $ (2,914 ) $ (200,738 ) Amortization - (119,004 ) Total deferred tax liabilities $ (2,914 ) $ (319,742 ) Less valuation allowance (12,582,172 ) (7,990,024 ) Total net deferred tax assets $ - $ - | ||
Schedule of Effective Income Tax Rate | The reconciliation of the income tax (benefit) to the U.S. federal statutory income tax rate is as follows: Schedule of Company’s Effective Income Tax Rate Reconciliation December 31, December 31, Federal statutory income tax 21.00 % 21.00 % Permanent differences (0.01 )% (0.01 )% Change in Tax Credits 0.00 % 0.00 % Change in Tax Rate 0.00 % 0.00 % Change in valuation allowance (25.20 )% (25.77 )% State income taxes, net of federal benefit 4.61 % 4.78 % Prior year adjustments (0.40 )% 0.00 % Total 0.00 % 0.00 % | ||
Schedule of Preliminary Unaudited Pro Forma | Schedule of Preliminary Unaudited Pro Forma 12/31/2022 Results Presented in the 10-K Impact From the Sale of Operations Associated with Louisiana Orthopedic on 01/27/2023 (Unaudited) Impact from the Sale of The BackSpace Operations on 02/17/2023 Unaudited) Resulting Impact of Subsequent Events on 12/31/2022 Results (Unaudited) Assets: Current Assets $ 4,207,927 $ (673,650 ) $ (55,478 ) $ 3,478,799 Property and equipment, net 1,584,714 (111,688 ) (631,281 ) 841,745 Other Assets 5,288,965 (634,887 ) (932,504 ) 3,721,574 Total Assets 11,081,606 (1,420,225 ) (1,619,263 ) 8,042,118 Liabilities and Stockholders equity: Current Liabilities 3,713,832 (133,569 ) (192,792 ) 3,387,471 Long-Term Liabilities 2,716,518 (447,318 ) (679,621 ) 1,589,579 Total Liabilities 6,430,350 (580,887 ) (872,413 ) 4,977,050 Accumulated deficit $ (46,519,740 ) $ (839,338 ) $ (746,850 ) $ (48,105,928 ) | ||
Theralink Technologies Inc [Member] | |||
Subsidiary or Equity Method Investee [Line Items] | |||
Schedule of Stock Option Activity | Stock option activities for the nine months ended June 30, 2023 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ - Granted - - - Balance Outstanding June 30, 2023 1,901,410,519 $ 0.0036 9.13 $ 0 Exercisable, June 30, 2023 1,651,962,645 (a) $ 0.0036 9.13 $ 0 Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ - Granted - - - - Vested during the period (298,218,470 ) 0.0036 - - Balance Non-vested on June 30, 2023 249,447,874 $ 0.0036 9.13 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. | The Company did not have any stock option activity during the year ended September 30, 2021. Stock option activities for the year ended September 30, 2022 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ 0 Exercisable, September 30, 2022 1,353,744,175 (a) $ 0.0036 9.88 $ 0 Balance Non-vested on September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - - Vested during the period (1,353,744,175 ) 0.0036 - - Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ 0 | |
Schedule of Deferred Tax Assets | The Company’s approximate net deferred tax asset as of September 30, 2022 and 2021 was as follow: Schedule of Deferred Tax Assets 2022 2021 Years Ended September 30, 2022 2021 Net operating loss carry-forwards $ 12,967,136 $ 11,245,046 Total deferred tax asset 12,967,136 11,245,046 Less: valuation allowance (12,967,136 ) (11,245,046 ) Net deferred tax asset $ — $ — | ||
Schedule of Effective Income Tax Rate | The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the fiscal years ended September 30, 2022 and 2021 are as follow: Schedule of Effective Income Tax Rate 2022 2021 Years Ended September 30, 2022 2021 Income tax benefit at U.S. statutory rate of 21 $ (2,675,812 ) $ (1,149,047 ) Income tax benefit – state (589,953 ) (253,337 ) Non-deductible expenses 1,543,675 (52,467 ) Change in valuation allowance 1,722,090 1,454,851 Total provision for income tax $ — $ — |
Related-party Transactions (Tab
Related-party Transactions (Tables) | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | |
Schedule of Stock Option Activity | The information below summarizes the stock options: Schedule of Stock Option Activity Number of Weighted Average Weighted Outstanding at December 31, 2020 12,006 $ 102.9 100.50 Granted 1,633 48.00 102.00 Exercised - - - Cancelled (1,404 ) 117.60 43.20 Outstanding at December 31, 2021 12,235 $ 96.90 107.40 Granted - - - Exercised - - - Cancelled (1,020 ) 97.80 49.50 Outstanding at December 31, 2022 11,215 $ 96.90 112.50 | ||
Theralink Technologies Inc [Member] | |||
Schedule of Related Parties Transaction | On June 30, 2023 and September 30, 2022, net amount due to related parties consisted of the following: Schedule of Related Parties Transaction June 30, 2023 September 30, 2022 Convertible notes principal – related parties $ 9,130,292 $ 4,150,000 Discount on convertible notes - related parties (3,820,629 ) (1,844,186 ) Note payable principal – related parties 836,966 350,000 Discount on notes - related parties (39,769 ) - Accrued liabilities - related parties 536,625 76,927 Accounts payable – related parties 7,972 16,223 Total $ 6,651,457 $ 2,748,964 | On September 30, 2022 and 2021, net amount due to related parties consisted of the following: Schedule of Related Parties Transaction September 30, 2022 September 30, 2021 Convertible notes principal – related parties $ 4,150,000 $ 1,000,000 Discount on convertible notes - related parties (1,844,186 ) (935,019 ) Note payable principal – related parties 350,000 100,000 Accrued liabilities - related parties 76,927 18,000 Accounts payable – related parties 16,223 3,714 Other receivable - related party - (21,711 ) Total $ 2,748,964 $ 164,984 | |
Schedule of Stock Option Activity | Stock option activities for the nine months ended June 30, 2023 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ - Granted - - - Balance Outstanding June 30, 2023 1,901,410,519 $ 0.0036 9.13 $ 0 Exercisable, June 30, 2023 1,651,962,645 (a) $ 0.0036 9.13 $ 0 Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ - Granted - - - - Vested during the period (298,218,470 ) 0.0036 - - Balance Non-vested on June 30, 2023 249,447,874 $ 0.0036 9.13 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. | The Company did not have any stock option activity during the year ended September 30, 2021. Stock option activities for the year ended September 30, 2022 are summarized as follows: Schedule of Stock Option Activity Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ 0 Exercisable, September 30, 2022 1,353,744,175 (a) $ 0.0036 9.88 $ 0 Balance Non-vested on September 30, 2021 - $ - - $ - Granted 1,901,410,519 0.0036 - - Vested during the period (1,353,744,175 ) 0.0036 - - Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ 0 | |
Schedule of Warrants | Warrants activities for the nine months ended June 30, 2023 is summarized as follows: Schedule of Warrants Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2022 1,888,813,005 $ 0.003 3.26 $ 1,140,362 Issued in connection with a New Related Party Convertible Debentures (see Note 6) 2,608,654,988 0.003 Issued in connection with a New Convertible Debentures (see Note 6) 2,567,601,521 0.003 Issued to placement agent and consultant in connection with New Related Party and New Convertible Debentures (see Note 6) 179,265,305 0.003 Balance Outstanding on June 30, 2023 7,244,334,819 $ 0.00169 5.03 $ 8,393,613 Exercisable on June 30, 2023 7,244,334,819 $ 0.00169 5.11 $ 8,393,613 | Warrants activities for the years ended September 30, 2022 and 2021 is summarized as follows: Schedule of Warrants Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2020 856,674,588 $ 0.0020 4.3 $ — Issued in connection with a convertible debt – related party (see Note 7 and Note 9) 63,897,764 0.0031 4.6 Issued in connection with a Series F preferred stock – related party 63,897,764 0.0031 Balance Outstanding on September 30, 2021 984,470,116 0.0023 3.50 — Issued in connection with a convertible debt – related party (see Note 7 and Note 9) 321,543,374 0.0038 4.16 Issued in connection with a convertible debt (see Note 7) 582,799,515 0.0037 4.09 Balance Outstanding on September 30, 222 1,888,813,005 $ 0.0030 3.26 $ 1,140,362 Exercisable on September 30, 2022 1,684,611,324 $ 0.0031 3.31 $ 940,362 |
Schedule of Allowance for Doubt
Schedule of Allowance for Doubtful Accounts (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | ||||
Beginning balance | $ 163,479 | $ 80,979 | $ 80,979 | |
Bad debt expense | 6,795 | 8,333,687 | ||
Write-offs | (95,414) | |||
Ending balance | $ 74,860 | $ 163,479 | $ 80,979 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
Jan. 27, 2023 | Jan. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 20, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Apr. 01, 2023 | Dec. 31, 2020 | Sep. 30, 2020 | |
Proceeds from sale of Louisiana Orthopedic operations | $ 1,050,000 | ||||||||||||||||||||||
Intangible assets carrying amount | $ 1,365,457 | $ 34,000 | $ 901,893 | $ 1,365,457 | $ 34,000 | $ 10,459,265 | $ 901,893 | $ 901,893 | $ 1,365,457 | $ 10,459,265 | |||||||||||||
Impairments of long-lived assets | 0 | ||||||||||||||||||||||
Marketing and advertising expense | 36,761 | $ 242,562 | 111,305 | $ 613,050 | 1,100,422 | 1,324,715 | |||||||||||||||||
Assets | 11,081,606 | 4,645,000 | 11,081,606 | 27,229,193 | 4,645,000 | 4,645,000 | 11,081,606 | 27,229,193 | |||||||||||||||
Liabilities | 6,430,350 | 5,003,970 | 6,430,350 | 9,276,132 | 5,003,970 | 5,003,970 | 6,430,350 | 9,276,132 | |||||||||||||||
Cash equivalents | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
Goodwill impairment loss | 4,500,000 | 4,500,000 | |||||||||||||||||||||
Net loss | 1,403,307 | $ 3,698,653 | 1,844,099 | 3,162,125 | 5,101,960 | 5,006,224 | 18,312,806 | 10,542,247 | |||||||||||||||
Net cash used in operations | 1,670,284 | 5,862,808 | 10,294,468 | 7,590,962 | |||||||||||||||||||
Accumulated deficit | 46,519,740 | 51,621,700 | 46,519,740 | 28,206,934 | 51,621,700 | 51,621,700 | 46,519,740 | 28,206,934 | |||||||||||||||
Stockholders' deficit | (4,651,256) | (14,972,083) | 358,970 | (996,955) | (4,651,256) | (14,094,760) | (14,972,083) | (17,953,061) | 358,970 | (14,094,760) | 358,970 | $ (14,094,760) | (4,651,256) | (17,953,061) | $ (7,813,154) | ||||||||
Cash on hand | 763,211 | 247,002 | 763,211 | 7,118,980 | 247,002 | 247,002 | 763,211 | 7,118,980 | |||||||||||||||
Cash FDIC insured amount | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | |||||||||||||||||
Revenue | 1,343,975 | 5,033,088 | 3,437,337 | 8,928,075 | 16,185,682 | 14,385,828 | |||||||||||||||||
Accounts receivable | 2,881,239 | 678,603 | 2,881,239 | 1,209,333 | 678,603 | 678,603 | 2,881,239 | 1,209,333 | |||||||||||||||
Uncertain tax positions | 0 | 0 | 0 | ||||||||||||||||||||
Variable Interest Entities [Member] | |||||||||||||||||||||||
Assets | 1,800,000 | 1,800,000 | 2,200,000 | 1,800,000 | 2,200,000 | ||||||||||||||||||
Liabilities | 500,000 | 500,000 | 600,000 | 500,000 | 600,000 | ||||||||||||||||||
Theralink Technologies Inc [Member] | |||||||||||||||||||||||
Assets | 1,725,463 | 1,725,463 | 1,725,463 | $ 2,598,911 | $ 1,638,576 | ||||||||||||||||||
Liabilities | 49,224,402 | 49,224,402 | 49,224,402 | 6,399,966 | 3,583,938 | ||||||||||||||||||
Net loss | (4,500,049) | 8,566,382 | 36,456,347 | 1,708,794 | 1,835,995 | 1,512,267 | 40,522,680 | 5,057,056 | 12,741,962 | 5,471,649 | |||||||||||||
Net cash used in operations | 4,270,783 | 4,460,633 | 5,389,695 | 4,780,930 | |||||||||||||||||||
Accumulated deficit | 103,369,949 | 103,369,949 | 103,369,949 | 62,807,817 | 49,825,855 | ||||||||||||||||||
Stockholders' deficit | $ 44,302,919 | 3,918,693 | 47,498,939 | $ 52,332,236 | 44,302,919 | 5,113,501 | $ 3,918,693 | $ 4,865,914 | 47,498,939 | 5,113,501 | 47,498,939 | 5,113,501 | 44,302,919 | 6,801,055 | $ 4,865,914 | 4,945,362 | $ 307,595 | ||||||
Working capital deficit | 47,854,723 | 47,854,723 | 47,854,723 | 2,808,736 | |||||||||||||||||||
Cash on hand | 25,089 | 25,089 | 25,089 | 393,460 | 314,151 | ||||||||||||||||||
Contract liabilities, revenue recognized | 55,575 | ||||||||||||||||||||||
Uncompleted contract liabilities, revenue recognized | $ 41,500 | $ 54,600 | |||||||||||||||||||||
Research and development transaction term | The transaction term is for 5-years, starting in September 2021 | The transaction term is for 5-years, starting in January 2022 | |||||||||||||||||||||
Cash FDIC insured amount | 0 | 0 | $ 0 | $ 186,466 | 68,122 | ||||||||||||||||||
Revenue | 202,447 | 164,213 | 427,529 | 262,688 | 567,905 | 505,604 | |||||||||||||||||
Accounts receivable | 15,000 | 15,000 | 15,000 | 32,125 | |||||||||||||||||||
Deferred revenue | 260,440 | 260,440 | 260,440 | 156,550 | 135,150 | ||||||||||||||||||
Patient reporting and contract research expense | 0 | 275,372 | 272,904 | 860,954 | |||||||||||||||||||
Uncertain tax positions | $ 0 | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Income tax, interest and penalties | $ 0 | $ 0 | 0 | $ 0 | |||||||||||||||||||
Contract liabilities, revenue recognized | $ 303,648 | ||||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customers [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 73.50% | ||||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 26.30% | 32% | 21% | 31% | |||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Two [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 19.30% | 23% | 15% | 12% | |||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Three [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 10.60% | 17% | 14% | 12% | |||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Four [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 17.30% | 10% | 11% | ||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 100% | 59% | |||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 41% | ||||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Deferred Revenue [Member] | Customer One [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 96% | 65% | 65% | 56% | |||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Deferred Revenue [Member] | Customer Two [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 24% | 24% | 24% | ||||||||||||||||||||
Theralink Technologies Inc [Member] | Customer Concentration Risk [Member] | Deferred Revenue [Member] | Customer Three [Member] | |||||||||||||||||||||||
Concentration risk, percentage | 16% | ||||||||||||||||||||||
Theralink Technologies Inc [Member] | General and Administrative Expense [Member] | |||||||||||||||||||||||
Research and development expense | $ 50,000 | $ 100,000 | $ 150,000 | $ 0 | |||||||||||||||||||
Theralink Technologies Inc [Member] | Minimum [Member] | |||||||||||||||||||||||
Property and equipment, estimated useful lives | 3 years | 3 years | 3 years | 3 years | |||||||||||||||||||
Theralink Technologies Inc [Member] | Maximum [Member] | |||||||||||||||||||||||
Property and equipment, estimated useful lives | 5 years | 5 years | 5 years | 5 years | |||||||||||||||||||
Cash FDIC insured amount | $ 250,000 | $ 250,000 | $ 250,000 | $ 250,000 | |||||||||||||||||||
FLORIDA | |||||||||||||||||||||||
Intangible assets carrying amount | $ 30,000 | $ 30,000 | $ 30,000 | ||||||||||||||||||||
Impairment loss | $ 34,000 | ||||||||||||||||||||||
Louisiana Market [Member] | |||||||||||||||||||||||
Intangible assets carrying amount | 61,000 | 61,000 | 61,000 | ||||||||||||||||||||
Impairment loss | $ 61,000 | ||||||||||||||||||||||
Illinois Market [Member] | |||||||||||||||||||||||
Intangible assets carrying amount | $ 265,000 | 265,000 | $ 265,000 | $ 265,000 | |||||||||||||||||||
Back Space Retail Stores [Member] | |||||||||||||||||||||||
Impairment loss | $ 60,000 | ||||||||||||||||||||||
IMAC Illinois MSA [Member] | |||||||||||||||||||||||
Impairment loss | $ 2,128,000 | 2,128,000 | |||||||||||||||||||||
Impairment loss of long lived assets | 2,128,000 | ||||||||||||||||||||||
IMAC Kentucky MSA [Member] | |||||||||||||||||||||||
Impairment loss | $ 1,672,000 | 1,672,000 | |||||||||||||||||||||
Impairment loss of long lived assets | 1,672,000 | ||||||||||||||||||||||
IMAC Florida MSA [Member] | |||||||||||||||||||||||
Impairment loss | $ 1,000 | ||||||||||||||||||||||
IMAC Florida MSA [Member] | Forecast [Member] | |||||||||||||||||||||||
Impairment loss of long lived assets | $ 1,000 | ||||||||||||||||||||||
Florida Tennessee Missouri And Louisiana Acquisitions [Member] | |||||||||||||||||||||||
Goodwill impairment loss | $ 4,500,000 |
Capital Requirements, Liquidi_2
Capital Requirements, Liquidity and Going Concern Considerations (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Working capital | $ 2,600,000 | $ 2,600,000 | $ 500,000 | $ (4,100,000) | ||||
Net loss | 1,403,307 | $ 3,698,653 | $ 1,844,099 | $ 3,162,125 | 5,101,960 | $ 5,006,224 | 18,312,806 | 10,542,247 |
Net cash provided by used in operating activities | 1,670,284 | $ 5,862,808 | 10,294,468 | 7,590,962 | ||||
Working capital | $ (2,600,000) | $ (2,600,000) | $ (500,000) | $ 4,100,000 |
Schedule of Concentration Risk
Schedule of Concentration Risk (Details) - Medicare Payments [Member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue Benchmark [Member] | Product Concentration Risk [Member] | |||
Concentration Risk [Line Items] | |||
Concentration of credit risk, percentage | 25% | 32% | 37% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk [Line Items] | |||
Concentration of credit risk, percentage | 20% | 18% | 16% |
Concentration of Credit Risks_2
Concentration of Credit Risks (Details Narrative) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Risks and Uncertainties [Abstract] | ||
Cash FDIC isured amount | $ 250,000 | $ 250,000 |
Schedule of Accounts Receivable
Schedule of Accounts Receivable (Details) - USD ($) | Jun. 30, 2023 | Feb. 28, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Accounts receivable | $ 753,463 | $ 3,044,718 | $ 1,290,312 | |||
Less: allowance for doubtful accounts | (74,860) | (163,479) | (80,979) | |||
Accounts receivable, net | 678,603 | 2,881,239 | 1,209,333 | |||
Accounts receivable, net | 678,603 | $ 2,881,239 | $ 1,209,333 | |||
Theralink Technologies Inc [Member] | ||||||
Accounts receivable | 29,000 | $ 35,957 | ||||
Less: allowance for doubtful accounts | (14,000) | $ (3,828) | (3,832) | |||
Accounts receivable, net | 15,000 | 32,125 | ||||
Accounts receivable, net | $ 15,000 | $ 32,125 |
Schedule of Property and Equipm
Schedule of Property and Equipment (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2022 | Jun. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Property, Plant and Equipment [Line Items] | |||||
Total property and equipment | $ 5,053,769 | $ 3,701,586 | $ 4,937,790 | ||
Less accumulated depreciation | (3,476,977) | (3,135,743) | (2,990,902) | ||
Property and equipment, excluding construction in progress | 1,576,792 | 565,843 | |||
Construction in progress | 7,922 | 376,275 | |||
Property and equipment, net | 1,584,714 | 565,843 | 2,323,163 | ||
Property and equipment, excluding construction | 1,576,792 | 1,946,888 | |||
Property and equipment gross | 5,053,769 | 3,701,586 | 4,937,790 | ||
Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Total property and equipment | 813,251 | $ 1,043,942 | $ 912,331 | ||
Less accumulated depreciation | (479,913) | (357,815) | (213,404) | ||
Property and equipment, net | 333,338 | 686,127 | 698,927 | ||
Laboratory equipment | 358,388 | 597,059 | 470,159 | ||
Furniture | 24,567 | 24,567 | 24,567 | ||
Leasehold improvements | 353,826 | 353,826 | 349,115 | ||
Computer equipment | 76,470 | 68,490 | 68,490 | ||
Property and equipment gross | $ 813,251 | $ 1,043,942 | $ 912,331 | ||
Minimum [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 3 years | 3 years | |||
Maximum [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 5 years | 5 years | |||
Leasehold Improvements [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Total property and equipment | $ 2,233,603 | $ 1,712,019 | 2,127,762 | ||
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration] | Useful Life, Shorter of Lease Term or Asset Utility [Member] | ||||
Estimated useful life | Shorter of asset or lease term | ||||
Property and equipment gross | $ 2,233,603 | $ 1,712,019 | 2,127,762 | ||
Leasehold Improvements [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 5 years | 5 years | |||
Equipment [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Total property and equipment | 2,820,166 | $ 1,989,567 | 2,810,028 | ||
Property and equipment gross | $ 2,820,166 | $ 1,989,567 | $ 2,810,028 | ||
Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 1 year 6 months | 1 year 6 months | |||
Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 10 years | 7 years | |||
Laboratory Equipment [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 5 years | 5 years | |||
Furniture and Fixtures [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 5 years | 5 years | |||
Computer Equipment [Member] | Theralink Technologies Inc [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful life in years | 3 years | 3 years |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Depreciation | $ 87,000 | $ 239,000 | $ 867,364 | $ 761,034 | ||||||
Depreciation | 233,000 | 473,000 | ||||||||
Depreciation and amortization expense | 119,795 | 438,612 | 309,618 | 885,384 | $ 1,626,614 | $ 1,649,187 | ||||
Impairment loss | ||||||||||
Theralink Technologies Inc [Member] | ||||||||||
Depreciation | $ 156,874 | $ 143,531 | $ 190,780 | $ 185,730 | ||||||
Depreciation and amortization expense | 40,586 | 36,825 | 122,098 | 108,754 | $ 144,411 | $ 139,362 | ||||
Impairment loss | $ 238,671 | $ 238,671 |
Schedule of Intangible Assets a
Schedule of Intangible Assets and Goodwill (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, cost | $ 4,224,113 | $ 8,477,469 | ||
Intangible assets, accumulated amortization | (3,565,970) | 4,499,796 | ||
Intangible assets, net | 658,143 | 1,121,707 | ||
Total intangible assets and goodwill, cost | 4,467,863 | 13,221,015 | $ 13,355,897 | |
Total intangible assets and goodwill, accumulated amortization | (3,565,970) | (11,855,558) | (2,896,632) | |
Total intangible assets and goodwill, net | 901,893 | 1,365,457 | $ 34,000 | 10,459,265 |
Definite lived assets, accumulated amortization | (7,355,762) | |||
Goodwill, cost | 4,499,796 | 4,661,796 | ||
Goodwill, accumulated amortization | (4,499,796) | |||
Goodwill, net | 4,661,796 | |||
Intangible assets, accumulated amortization and impairment | 3,565,970 | (4,499,796) | ||
Research and Development Expense [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, cost | 243,750 | 243,750 | ||
Intangible assets, accumulated amortization | ||||
Intangible assets, net | 243,750 | $ 243,750 | ||
Indefinite lived assets | $ 243,750 | 243,750 | ||
Intangible assets, accumulated amortization and impairment | ||||
Customer Lists [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful life | 3 years | 3 years | ||
Intangible assets, cost | $ 77,000 | $ 134,882 | ||
Intangible assets, accumulated amortization | (48,125) | (89,921) | ||
Intangible assets, net | 28,875 | 44,961 | ||
Intangible assets, accumulated amortization and impairment | $ 48,125 | $ 89,921 | ||
Brand Development [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful life | 15 years | 15 years | ||
Intangible assets, cost | $ 69,071 | $ 69,071 | ||
Intangible assets, accumulated amortization | (8,596) | (3,835) | ||
Intangible assets, net | 60,475 | 65,236 | ||
Intangible assets, accumulated amortization and impairment | 8,596 | 3,835 | ||
Definite Lived Assets [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, cost | 8,477,469 | 8,450,351 | ||
Intangible assets, accumulated amortization | (7,355,762) | (2,896,632) | ||
Intangible assets, net | 1,121,707 | 5,553,719 | ||
Intangible assets, accumulated amortization and impairment | $ 7,355,762 | $ 2,896,632 | ||
Management Service Agreements [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful life | 10 years | 10 years | 10 years | |
Intangible assets, cost | $ 4,224,113 | $ 7,940,398 | $ 7,940,398 | |
Intangible assets, accumulated amortization | (3,565,970) | (6,939,916) | (2,500,418) | |
Intangible assets, net | 658,143 | 1,000,482 | 5,439,980 | |
Intangible assets, accumulated amortization and impairment | $ 3,565,970 | $ 6,939,916 | $ 2,500,418 | |
Noncompete Agreements [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful life | 3 years | 3 years | ||
Intangible assets, cost | $ 391,000 | $ 306,000 | ||
Intangible assets, accumulated amortization | (359,125) | (302,458) | ||
Intangible assets, net | 31,875 | 3,542 | ||
Intangible assets, accumulated amortization and impairment | $ 359,125 | $ 302,458 | ||
Intellectual Property Agreements [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful life | 2 years | |||
Intangible assets, cost | $ 77,000 | |||
Intangible assets, accumulated amortization | (48,125) | |||
Intangible assets, net | 28,875 | |||
Intangible assets, accumulated amortization and impairment | $ 48,125 |
Schedule of Future Amortization
Schedule of Future Amortization of Intangible Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2023 (six months) | $ 65,814 | |
2023 | 131,629 | $ 241,227 |
2024 | 131,629 | 180,477 |
2025 | 131,629 | 180,477 |
2026 | 131,629 | 180,477 |
Thereafter | 65,813 | |
Total | $ 658,143 | 1,121,707 |
2027 | 180,477 | |
Thereafter | $ 158,572 |
Intangibles Assets and Goodwi_3
Intangibles Assets and Goodwill (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Feb. 28, 2023 | Jan. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Sep. 20, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Apr. 01, 2023 | |
Intangible assets carrying amount | $ 1,365,457 | $ 34,000 | $ 901,893 | $ 901,893 | $ 1,365,457 | $ 10,459,265 | ||||||
Goodwill impairment loss | $ 4,500,000 | 4,500,000 | ||||||||||
Amortization of intangible assets | 33,000 | $ 200,000 | 77,000 | $ 412,000 | 759,250 | $ 888,153 | ||||||
FLORIDA | ||||||||||||
Impairment loss | $ 34,000 | |||||||||||
Intangible assets carrying amount | $ 30,000 | $ 30,000 | ||||||||||
Louisiana Market [Member] | ||||||||||||
Impairment loss | $ 61,000 | |||||||||||
Intangible assets carrying amount | 61,000 | 61,000 | ||||||||||
Back Space Retail Clinics [Member] | ||||||||||||
Impairment loss | $ 60,000 | |||||||||||
Illinois Market [Member] | ||||||||||||
Intangible assets carrying amount | $ 265,000 | $ 265,000 | $ 265,000 | |||||||||
IMAC Illinois MSA [Member] | ||||||||||||
Impairment loss | $ 2,128,000 | 2,128,000 | ||||||||||
IMAC Kentucky MSA [Member] | ||||||||||||
Impairment loss | $ 1,672,000 | $ 1,672,000 |
Schedule of Operating Lease Cos
Schedule of Operating Lease Cost (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule Of Operating Lease Cost | ||||
Operating lease expense | $ 747,698 | $ 830,373 | $ 1,622,466 | $ 1,333,916 |
Schedule of Future Minimum Leas
Schedule of Future Minimum Lease Payments (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule Of Operating Lease Cost | |||
2023 (six months) | $ 538,112 | ||
2023 | 734,612 | $ 1,545,103 | |
2024 | 468,745 | 1,152,928 | |
2025 | 236,609 | 887,061 | |
2026 | 73,823 | 628,509 | |
Thereafter | 81,691 | ||
Total | 2,133,592 | 4,432,675 | |
Amount representing imputed interest | (143,280) | (410,555) | |
Total operating lease liability | 1,990,312 | 4,022,120 | |
Current portion of operating lease liability | (947,657) | (1,368,016) | $ (1,478,140) |
Operating lease liability, non-current | 1,042,655 | 2,654,104 | 4,018,926 |
2027 | 137,383 | ||
Thereafter | 81,691 | ||
Total operating lease liability | 1,990,312 | 4,022,120 | |
Operating lease liability, non-current | $ 1,042,655 | $ 2,654,104 | $ 4,018,926 |
Schedule of Notes Payable (Deta
Schedule of Notes Payable (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Short-Term Debt [Line Items] | |||
Notes payable | $ 74,579 | $ 104,696 | $ 359,184 |
Less: current portion | (39,435) | (51,657) | (254,487) |
Notes payable, net of current portion | 35,144 | 53,039 | 104,697 |
Notes Payable One [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | 13,093 | 43,413 | |
Notes Payable Two [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | 47,697 | 54,763 | 68,378 |
Notes Payable Three [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | $ 26,882 | 36,840 | 59,913 |
Notes Payable Four [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | 37,179 | ||
Notes Payable Five [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | $ 150,301 |
Schedule of Notes Payable (De_2
Schedule of Notes Payable (Details) (Parenthetical) | Oct. 29, 2020 USD ($) | Sep. 25, 2019 USD ($) Installment | Mar. 02, 2019 USD ($) Installment | Nov. 15, 2017 USD ($) Installment | Aug. 01, 2016 USD ($) Installment | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 15, 2018 USD ($) |
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 74,579 | $ 104,696 | $ 359,184 | ||||||
Notes Payable One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | 13,093 | 43,413 | |||||||
Notes Payable One [Member] | Financial Institution [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 200,000 | ||||||||
Debt instrument, periodic payment | $ 2,652 | ||||||||
Debt instrument interest rate | 5% | ||||||||
Balloon payment | $ 60,000 | ||||||||
Debt instrument maturity date | May 15, 2023 | ||||||||
Number of installments | Installment | 66 | ||||||||
Notes Payable Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | 47,697 | 54,763 | 68,378 | ||||||
Notes Payable Two [Member] | Financial Institution [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 131,400 | ||||||||
Debt instrument, periodic payment | $ 1,394 | ||||||||
Debt instrument interest rate | 5% | ||||||||
Debt instrument maturity date | Jul. 01, 2026 | ||||||||
Number of installments | Installment | 120 | ||||||||
Notes Payable Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 26,882 | 36,840 | 59,913 | ||||||
Notes Payable Four [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 37,179 | ||||||||
Notes Payable Four [Member] | Financial Institution [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 140,000 | ||||||||
Debt instrument, periodic payment | $ 4,225 | ||||||||
Debt instrument interest rate | 5.39% | ||||||||
Debt instrument maturity date | Sep. 19, 2022 | ||||||||
Number of installments | Installment | 36 | ||||||||
Notes Payable Five [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 2,690,000 | ||||||||
Debt instrument interest rate | 7% | ||||||||
Debt instrument maturity date | Apr. 29, 2022 | ||||||||
Financial Institution [Member] | Notes Payable One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 200,000 | ||||||||
Frequency of installments | 66 consecutive monthly installments | ||||||||
Debt instrument, periodic payment | $ 2,652 | ||||||||
Debt instrument interest rate | 5% | ||||||||
Balloon payment | $ 60,000 | ||||||||
Financial Institution [Member] | Notes Payable Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 131,400 | ||||||||
Frequency of installments | 120 monthly installments | ||||||||
Debt instrument, periodic payment | $ 1,394 | ||||||||
Debt instrument interest rate | 5% | ||||||||
Debt instrument maturity date | Jul. 01, 2026 | ||||||||
Advantage Therapy LLC [Member] | Notes Payable Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes payable | $ 112,800 | ||||||||
Frequency of installments | 60 monthly installments | ||||||||
Debt instrument, periodic payment | $ 2,129 | ||||||||
Debt instrument interest rate | 5% | ||||||||
Debt instrument maturity date | Jun. 01, 2024 | ||||||||
Number of installments | Installment | 60 |
Schedule of Principal Maturitie
Schedule of Principal Maturities of Notes Payable (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Disclosure [Abstract] | ||
2023 (six months) | $ 21,540 | |
2023 | 27,631 | $ 51,657 |
2024 | 15,813 | 27,631 |
2025 | 9,595 | 15,813 |
Total | $ 74,579 | 104,696 |
2026 | $ 9,595 |
Stockholders_ Equity (Deficit)
Stockholders’ Equity (Deficit) (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May 19, 2023 shares | Jan. 27, 2023 shares | Nov. 29, 2022 USD ($) $ / shares shares | Oct. 15, 2022 shares | Sep. 22, 2022 shares | Aug. 16, 2022 USD ($) $ / shares shares | Aug. 16, 2022 USD ($) $ / shares shares | Jul. 02, 2022 USD ($) $ / shares shares | Jun. 15, 2022 USD ($) $ / shares shares | May 09, 2022 USD ($) $ / shares shares | May 09, 2022 USD ($) $ / shares shares | Apr. 30, 2022 USD ($) $ / shares shares | Apr. 18, 2022 shares | Apr. 05, 2022 USD ($) $ / shares shares | Feb. 21, 2022 shares | Jan. 31, 2022 USD ($) $ / shares shares | Jan. 27, 2022 USD ($) $ / shares shares | Jan. 26, 2022 USD ($) $ / shares shares | Nov. 01, 2021 USD ($) $ / shares shares | Oct. 28, 2021 shares | Jul. 30, 2021 USD ($) $ / shares shares | Jul. 30, 2021 USD ($) $ / shares shares | May 12, 2021 USD ($) $ / shares shares | May 12, 2021 USD ($) $ / shares shares | Sep. 15, 2020 $ / shares shares | May 18, 2020 $ / shares shares | Aug. 13, 2019 shares | Aug. 20, 2015 shares | Jul. 30, 2021 USD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares shares | Mar. 31, 2023 shares | [1] | Dec. 31, 2022 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) shares | Mar. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) shares | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) shares | Dec. 31, 2022 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Sep. 30, 2021 USD ($) $ / shares shares | Sep. 30, 2020 USD ($) | May 23, 2023 $ / shares | Apr. 22, 2023 USD ($) shares | Apr. 11, 2023 | Jul. 06, 2022 shares | Jul. 05, 2022 shares | Jul. 01, 2022 $ / shares | Jun. 10, 2022 shares | Dec. 31, 2020 $ / shares | Sep. 24, 2020 $ / shares shares | Sep. 22, 2020 $ / shares shares | Sep. 16, 2020 USD ($) shares | Jul. 02, 2020 shares | May 31, 2018 shares | Feb. 18, 2011 shares | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 30,000,000 | 60,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | 1,633 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 30,400 | 900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option expense | $ | $ 131,060 | $ 269,691 | $ 444,503 | $ 570,513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options vested and exercisable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 96.90 | $ 96.90 | $ 96.90 | $ 96.90 | $ 102.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 8,767 | [1] | 2,725 | 30,158 | [1] | 5,567 | [1] | 223,904 | [2] | 449,037 | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 6,666,667 | 12,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 298,571,429 | 16,393,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | 1,901,410,519 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 26,667 | 26,667 | 26,667 | 26,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 1,043 | 2,966 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (500) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock shares converted | 280,475,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 1,000,000 | $ (1,618,238) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sereis E preferred stock dividend | $ | 26,301 | $ 39,890 | 39,452 | $ 40,329 | 160,000 | $ 159,890 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ | $ 0 | $ 0 | 0 | 40,329 | 13,151 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 2,950,011 | $ 2,425,000 | $ 2,475,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of share authorized | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0036 | $ 0.0036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 365.10% | 365.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 2.82% | 2.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option expense | $ | $ 7,985,924 | $ 333,248 | $ 1,482,486 | $ 6,015,622 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options vested and exercisable | 1,651,962,645 | 1,353,744,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested stock based compensation expense | $ | 487,817 | $ 487,817 | $ 487,817 | $ 1,970,302 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate intrinsic value | $ | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0036 | $ 0.0036 | $ 0.0036 | $ 0.0036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 1,888,813,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ | $ 3,799,271 | $ 3,799,271 | $ 3,799,271 | $ 2,028,719 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable shares | $ | $ 84,240 | $ 84,240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected life (in years) | 10 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 1,888,813,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 984,200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ | $ 14,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Current Exercise Price [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range, lower range limit | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Exercise Price [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Equity Option [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,436 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (125,000,000) | (163,637,529) | (288,637,529) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 125,000,000 | 163,637,529 | 288,637,529 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 12,500 | $ 16,364 | $ 28,864 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sereis E preferred stock dividend | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable | 26,913,738 | 26,913,738 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable shares | $ | $ 2,691 | $ 2,691 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sereis E preferred stock dividend | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable shares | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,608,654,988 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock designated | 1,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 1,333 | 1,333 | 1,333 | 1,333 | 1,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholder voting rights | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 667 | 667 | 667 | 667 | 667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 667 | 667 | 667 | 667 | 667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series A Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock designated | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 141 | 141 | 141 | 1,043 | 2,966 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 141 | 141 | 141 | 1,043 | 2,966 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.0275 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion percentage | 0.80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock shares converted | 280,475,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 4,128.42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for conversion | 288,637,529 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 1,923 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.0275 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 4.99% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.0275 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion percentage | 0.80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 4.99% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (288,637,529) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 288,637,529 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | 902 | 833 | 1,090 | 1,923 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | (902) | (833) | (1,090) | (1,923) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock designated | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 3,037 | 4,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 3,037 | 4,917 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00275 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion percentage | 0.80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 4.99% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock shares converted | 1,880 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 410.27 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for conversion | 280,575,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 1,880 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 4.99% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | 3,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | (3,037) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, conversion basis | Each share of Series E Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0021. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number by the conversion price. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public offering, description | In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series E (including any fraction of a share) shall automatically convert into an aggregate number of shares of common stock (including any fraction of a share) by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number (including any fraction of a share) by the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price. However, the conversion price shall never be less than $0.0021. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series E shall be deemed to have been converted into shares of Common Stock immediately prior to the closing of such transaction or Qualified Public Offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares issued | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 2,000,000 | $ 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sereis E preferred stock dividend | $ | $ 26,301 | 119,671 | $ 160,000 | $ 159,890 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00375 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | $ 0.00313 | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 500 | 1,000 | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 2,000 | $ 2,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, conversion basis | Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. | Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public offering, description | In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. | In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares issued | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sereis E preferred stock dividend | $ | 13,151 | $ 59,836 | 80,000 | 6,728 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ | $ 0 | $ 0 | $ 0 | $ 20,164 | $ 6,728 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 42,808 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 63,897,764 | 63,897,764 | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | 500 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares issued | 0 | 0 | 0 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 0 | 0 | 0 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Two Thousand Twenty Twenty Two Plan [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of share authorized | 1,901,410,519 | 1,901,410,519 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0036 | $ 0.0036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First November Two Thousand Twenty One [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 34,630 | $ 990,048 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 218,579,234 | 54,644,811 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second November Two Thousand Twenty One [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 22,429 | $ 495,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 109,289,616 | 27,322,406 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third November Two Thousand Twenty One [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 22,429 | $ 495,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 109,289,616 | 27,322,406 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First January Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 472,403 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second January Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 469,810 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First April Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 89,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 4,201,681 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second April Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 335,593 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 17,857,144 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | $ 0.00476 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 178,449 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 42,016,808 | 42,016,808 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June Two Thousand Twenty Two [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 5,924 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 2022 [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 8,190 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First November Two Thousand And Twenty One [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 385,441,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second November Two Thousand And Twenty One [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 566,406,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range, lower range limit | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second November Two Thousand And Twenty One [Member] | Theralink Technologies Inc [Member] | New Exercise Price [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ | $ 39,769 | $ 39,769 | $ 39,769 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Qualified Stock Options [Member] | Various Employees [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | 4,368 | 9,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting period | 4 years | 4 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair market value, percentage | 25% | 25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining vesting percentage | 75% | 75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Option [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock capital shares reserved for future issuance | 1,915,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair market value, percentage | 110% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 Incentive Compensation Plan Member [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock capital shares reserved for future issuance | 66,667 | 33,333 | 33,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Two Thousand Eleven Stock Option Plan [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of share authorized | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Warrants | $ | $ 3,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 464,992 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (902) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 902 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during period, value, conversion of units | $ | $ 372,303 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (3,037) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 3,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during period, value, conversion of units | $ | $ 1,245,935 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (1,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Temporary equity, shares issued | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 66,630 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 2,608,654,988 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The New Related Party Warrants and April 2023 Related Party Warrant are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant and April 2023 Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the New Related Party Warrants and April 2023 Related Party Warrant within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | Theralink Technologies Inc [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 2,567,601,521 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | Theralink Technologies Inc [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,564,340,702 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Placement Agency Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 124,489,795 | 124,489,795 | 124,489,795 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 38,775,510 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase Agreement [Member] | Theralink Technologies Inc [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 298,571,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase Agreement [Member] | Related Party [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 44,314,286 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription Agreement [Member] | Theralink Technologies Inc [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of stock number of shares issued in transaction | 431,309,907 | 431,309,907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price | $ | $ 1,350,000 | $ 1,350,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of stock price per share | $ / shares | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accredited Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 172,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price | $ / shares | $ 22.80 | $ 22.80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 172,149 | 172,149 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 28.50 | $ 28.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Warrants | $ | $ 3,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 3,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board Members [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 8,767 | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board Of Directors [Member] | Theralink Technologies Inc [Member] | Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 667 | 667 | 667 | 667 | 667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 667 | 667 | 667 | 667 | 667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board Of Directors [Member] | Theralink Technologies Inc [Member] | Series C One Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 4,128.42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board Of Directors [Member] | Theralink Technologies Inc [Member] | Series C Two Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 410.27 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 10,504,202 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 8% | 8% | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 15,800 | $ 15,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ | $ 732,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 109,289,616 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for conversion of convertible securities | (63,897,764) | (63,897,764) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon conversion | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 957,192 | $ 957,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Warrant [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 2,000 | $ 2,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 2,000 | $ 2,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, conversion basis | The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. | The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of stock number of shares issued in transaction | 500 | 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 42,808 | $ 42,808 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate, percentage | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ | $ 957,192 | $ 957,192 | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Exchange Agreements [Member] | Theralink Technologies Inc [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,269,030,092 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Two Consultants [Member] | Theralink Technologies Inc [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price | $ / shares | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable | 26,913,738 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with settlement of accounts payable shares | $ | $ 84,240 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Two Consultants [Member] | Theralink Technologies Inc [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants valued | $ | $ 54,595 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | 16,393,443 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultant [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultant [Member] | Placement Agency Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 16,000,000 | 16,000,000 | 16,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15)[2]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) |
Retirement Plan (Details Narrat
Retirement Plan (Details Narrative) - 401(k) Plan [Member] - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Contributions description | Additionally, the Company is required to make matching contributions of 50% of up to 6 % of total compensation for those employees making salary deferrals | Additionally, the Company is required to make matching contributions of 100% up to 3% and 50% of the next 2% of total compensation for those employees making salary deferral | ||||
Maximum annual contributions per employee, amount | $ 17,106 | $ 35,954 | $ 43,927 | $ 70,763 | $ 134,534 | $ 139,870 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Operating Loss Carryforwards [Line Items] | ||||||||
Income tax expense | ||||||||
Unrecognized tax benefits | 0 | 0 | ||||||
Theralink Technologies Inc [Member] | ||||||||
Operating Loss Carryforwards [Line Items] | ||||||||
Income tax expense | ||||||||
Unrecognized tax benefits | $ 0 | $ 0 | $ 0 | $ 0 | 0 | $ 0 | ||
Operating loss carryforward | 50,593,585 | |||||||
Valuation allowance | 1,722,090 | |||||||
Net operating loss carryforward | 12,967,136 | |||||||
Tax credit | $ 8,050,201 | |||||||
Tax year descriptions | expire in 2037 | |||||||
Theralink Technologies Inc [Member] | Acts Effective Date [Member] | ||||||||
Operating Loss Carryforwards [Line Items] | ||||||||
Operating loss carryforward | $ 4,916,935 | |||||||
Domestic Tax Authority [Member] | ||||||||
Operating Loss Carryforwards [Line Items] | ||||||||
Operating loss carryforward | 37,000,000 | |||||||
State and Local Jurisdiction [Member] | ||||||||
Operating Loss Carryforwards [Line Items] | ||||||||
Operating loss carryforward | $ 39,300,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
May 05, 2023 USD ($) | Dec. 05, 2022 USD ($) shares | Aug. 16, 2022 USD ($) $ / shares shares | May 17, 2022 USD ($) | Dec. 31, 2021 USD ($) $ / shares shares | Oct. 21, 2021 USD ($) | Jun. 10, 2021 ft² | Apr. 15, 2021 USD ($) | Jan. 02, 2021 USD ($) | Jan. 01, 2021 USD ($) | Sep. 24, 2020 USD ($) $ / shares | Jul. 05, 2020 USD ($) $ / shares shares | Jun. 05, 2020 USD ($) $ / shares shares | Mar. 31, 2023 USD ($) | Dec. 31, 2019 | Mar. 31, 2018 USD ($) | Sep. 30, 2006 USD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Sep. 30, 2021 USD ($) $ / shares shares | May 23, 2023 $ / shares | Apr. 11, 2023 USD ($) | Jan. 27, 2023 USD ($) | Nov. 29, 2022 USD ($) | Jul. 01, 2022 $ / shares | May 27, 2022 USD ($) | Jun. 03, 2021 USD ($) | Dec. 31, 2020 shares | Sep. 22, 2020 $ / shares | Sep. 30, 2017 USD ($) shares | |
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Accounts receivable | $ 1,209,333 | $ 678,603 | $ 678,603 | $ 678,603 | $ 2,881,239 | $ 1,209,333 | ||||||||||||||||||||||||||||||
Stock options granted | shares | 1,633 | |||||||||||||||||||||||||||||||||||
Stock options aggregate | shares | 12,235 | 11,215 | 12,235 | 12,006 | ||||||||||||||||||||||||||||||||
Annual base salary | 1,251,842 | $ 3,863,089 | 3,564,903 | $ 7,762,487 | $ 14,517,253 | $ 13,309,797 | ||||||||||||||||||||||||||||||
Notes payables | $ 359,184 | $ 74,579 | $ 74,579 | $ 74,579 | $ 104,696 | $ 359,184 | ||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Accounts receivable | $ 15,000 | $ 15,000 | $ 15,000 | $ 32,125 | ||||||||||||||||||||||||||||||||
Stock options granted | shares | 1,901,410,519 | |||||||||||||||||||||||||||||||||||
Stock options aggregate | shares | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | ||||||||||||||||||||||||||||||||
Accrued consulting fees | $ 2,000 | $ 2,000 | $ 2,000 | $ 12,000 | ||||||||||||||||||||||||||||||||
Consideration liability | 83,840 | 83,840 | 83,840 | 78,440 | $ 71,240 | |||||||||||||||||||||||||||||||
Notes payables | 40,000 | 40,000 | 40,000 | 40,000 | ||||||||||||||||||||||||||||||||
Accrued interest payable | $ 43,840 | $ 43,840 | $ 43,840 | $ 38,440 | $ 31,240 | |||||||||||||||||||||||||||||||
Litigation settlement number of shares | shares | 200,000 | 200,000 | ||||||||||||||||||||||||||||||||||
Litigation settlement shares, value | $ 2,000 | $ 2,000 | ||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||
Outstanding principal balance | $ 8,986,605 | $ 8,986,605 | $ 8,986,605 | $ 2,475,000 | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | |||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Two Notes Payable [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Outstanding principal balance | 40,000 | 40,000 | ||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | I M A C [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Percentage of shares acquired | 85% | |||||||||||||||||||||||||||||||||||
Busch Employment Agreement [Member] | Theralink Technologies Inc [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Accrued director compensation | 237,500 | 237,500 | 237,500 | 192,500 | 132,500 | |||||||||||||||||||||||||||||||
Consulting Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Compensation fees | $ 2,000 | |||||||||||||||||||||||||||||||||||
Lease Agreements [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Lessee operating lease description | In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 | |||||||||||||||||||||||||||||||||||
Lease period | 61 months | |||||||||||||||||||||||||||||||||||
Lease Amendment [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Rentable square feet | ft² | 4,734 | |||||||||||||||||||||||||||||||||||
Monthly rent, description | the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen | |||||||||||||||||||||||||||||||||||
Monthly rent, description | the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen | |||||||||||||||||||||||||||||||||||
Related Party [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Accounts receivable | 0 | 21,711 | ||||||||||||||||||||||||||||||||||
Notes payables | 797,197 | 797,197 | 797,197 | 350,000 | ||||||||||||||||||||||||||||||||
Outstanding principal balance | 836,966 | 836,966 | 836,966 | 350,000 | ||||||||||||||||||||||||||||||||
George Mason University [Member] | Exclusive License Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Royalty expense | $ 50,000 | |||||||||||||||||||||||||||||||||||
Revenue percentage | 1.50% | |||||||||||||||||||||||||||||||||||
Advance royalties | 2,781 | 2,781 | 2,781 | 2,443 | 1,591 | |||||||||||||||||||||||||||||||
George Mason University [Member] | Exclusive License Agreement [Member] | Theralink Technologies Inc [Member] | Sublicense Royalty [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Revenue percentage | 15% | |||||||||||||||||||||||||||||||||||
National Institutes Of Health [Member] | License Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Royalty expense | $ 1,000 | |||||||||||||||||||||||||||||||||||
Revenue percentage | 3% | |||||||||||||||||||||||||||||||||||
Advance royalties | 0 | 24,830 | ||||||||||||||||||||||||||||||||||
Non refundable minimum annual royalty | $ 5,000 | |||||||||||||||||||||||||||||||||||
National Institutes Of Health [Member] | License Agreement [Member] | Theralink Technologies Inc [Member] | Sublicense Royalty [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Revenue percentage | 10% | |||||||||||||||||||||||||||||||||||
Vanderbilt License Agreement [Member] | License Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Royalty expense | $ 5,556 | |||||||||||||||||||||||||||||||||||
Advance royalties | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||||
Vanderbilt License Agreement [Member] | License Agreement [Member] | Theralink Technologies Inc [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Revenue percentage | 0.25% | |||||||||||||||||||||||||||||||||||
Vanderbilt License Agreement [Member] | License Agreement [Member] | Theralink Technologies Inc [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Revenue percentage | 2% | |||||||||||||||||||||||||||||||||||
Contractor [Member] | Covent Bridge Group [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Overpaid amount | $ 10,420.22 | $ 2,716,056.33 | $ 2,921,868 | |||||||||||||||||||||||||||||||||
Statistical extrapolation amount | $ 6,791.33 | $ 11,530 | ||||||||||||||||||||||||||||||||||
Accounts payable | $ 2,709,265 | $ 2,709,265 | $ 481,666 | $ 2,918,472 | ||||||||||||||||||||||||||||||||
Actual overpayment amount | 5,327.73 | 5,327.73 | ||||||||||||||||||||||||||||||||||
Recoupment balance amount | $ 100,000 | |||||||||||||||||||||||||||||||||||
Accounts payable | $ 20,000 | $ 20,000 | ||||||||||||||||||||||||||||||||||
Contractor [Member] | Covent Bridge Group [Member] | Related Party [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Accounts receivable | $ 91,000 | |||||||||||||||||||||||||||||||||||
Contractor [Member] | Covent Bridge Group [Member] | Advantage Therapy [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Overpaid amount | $ 492,086.22 | |||||||||||||||||||||||||||||||||||
Dr. Michael Ruxin [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | 200,000 | 112,500 | 62,500 | |||||||||||||||||||||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 300,000 | |||||||||||||||||||||||||||||||||||
Annual decretionary bonus percentage | 150% | |||||||||||||||||||||||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | Theralink Technologies Inc [Member] | 2022 Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Restricted stock, shares | shares | 49,047,059 | 420,691,653 | ||||||||||||||||||||||||||||||||||
Stock options granted | shares | 420,691,653 | |||||||||||||||||||||||||||||||||||
Stock options aggregate | shares | 469,738,712 | |||||||||||||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | Theralink Technologies Inc [Member] | 2022 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Restricted stock, shares | shares | 49,047,059 | |||||||||||||||||||||||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | Theralink Technologies Inc [Member] | 2022 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Stock options granted | shares | 420,691,653 | |||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 60,000 | |||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member] | Theralink Technologies Inc [Member] | Two Thousand Twenty Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member] | Theralink Technologies Inc [Member] | Two Thousand Twenty Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Restricted stock, shares | shares | 49,047,059 | 49,047,059 | ||||||||||||||||||||||||||||||||||
Stock options aggregate | shares | 469,738,712 | |||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member] | Theralink Technologies Inc [Member] | Two Thousand Twenty Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Stock options granted | shares | 420,691,653 | 420,691,653 | ||||||||||||||||||||||||||||||||||
Thomas E Chilcott Three [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Deferred compensation arrangements overall description | The Board also approved two new bonuses for which Mr. Chilcott was eligible: (i) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $1,000,000; and (ii) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $2,000,000 in the aggregate. On December 6, 2022, the Board approved a bonus compensation plan pursuant to which Thomas E. Chilcott, III, the Company’s former Chief Financial Officer, was eligible for: (i) a $150,000 bonus payable upon the successful filing of the Company’s report on Form 10-K for the annual period ended September 30, 2022 (the “Annual Report “) on or before December 29, 2022; or (ii) a $100,000 bonus payable upon the successful filing of the Company’s Annual Report on or before January 13, 2023 (collectively, the “Bonus”) | |||||||||||||||||||||||||||||||||||
Thomas E Chilcott Three [Member] | Theralink Technologies Inc [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 150,000 | 75,000 | ||||||||||||||||||||||||||||||||||
Annual base salary | $ 225,000 | |||||||||||||||||||||||||||||||||||
Thomas E Chilcott Three [Member] | Theralink Technologies Inc [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 300,000 | |||||||||||||||||||||||||||||||||||
Thomas E Chilcott Three [Member] | Offer Letter [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 225,000 | |||||||||||||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||||||
Deferred compensation arrangements overall description | Mr. Chilcott is entitled to participate in all medical and other benefits that the Company has established for its employees. The offer letter also provides that Mr. Chilcott will be granted an option to purchase up to 94,545,096 shares of the Company’s common stock which were granted on August 16, 2022 with an exercise price of $0.0036 and an expiration date of August 15, 2032 and subject to vesting terms | |||||||||||||||||||||||||||||||||||
Zaslavsky [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 400,000 | |||||||||||||||||||||||||||||||||||
Base salary percentage | 35% | |||||||||||||||||||||||||||||||||||
Zaslavsky [Member] | Theralink Technologies Inc [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Sharebased compensation available for grant | shares | 150,000,000 | |||||||||||||||||||||||||||||||||||
Vesting percentage | 20% | |||||||||||||||||||||||||||||||||||
Kucharchuk [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Annual base salary | $ 180,000 | |||||||||||||||||||||||||||||||||||
Consultant [Member] | Scientific Advisory Board Service Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Compensation fees | $ 2,000 | |||||||||||||||||||||||||||||||||||
Payments for fees | $ 1,500 | |||||||||||||||||||||||||||||||||||
Consultant [Member] | Scientific Advisory Board Service Agreement [Member] | Theralink Technologies Inc [Member] | Two Thousand Twenty Twenty Two Plan [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Stock options granted | shares | 88,786,943 | |||||||||||||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||||||
Consultant [Member] | Pathology Advisory Board Service Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Compensation fees | $ 272 | |||||||||||||||||||||||||||||||||||
Payments for fees | $ 1,500 | |||||||||||||||||||||||||||||||||||
Consultant [Member] | Pathology Advisory Board Service Agreement [Member] | Theralink Technologies Inc [Member] | Two Thousand Twenty Twenty Two Plan [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Stock options granted | shares | 77,972,192 | |||||||||||||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||||||
Mr Kucharchuk [Member] | Consulting Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||||||||||||||||
Compensation fees | $ 2,000 | |||||||||||||||||||||||||||||||||||
Accrued consulting fees | $ 12,000 | $ 18,000 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 07, 2023 | Jul. 28, 2023 | Jul. 25, 2023 | Jul. 14, 2023 | May 04, 2023 | Apr. 28, 2023 | Jan. 27, 2023 | Dec. 05, 2022 | Nov. 29, 2022 | Apr. 26, 2021 | Oct. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Aug. 16, 2023 | May 23, 2023 | Apr. 11, 2023 | Dec. 06, 2022 | Nov. 30, 2022 | Oct. 22, 2022 | Jul. 01, 2022 | Nov. 01, 2021 | Sep. 24, 2020 | Sep. 22, 2020 | |
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Preferred Stock, stated value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Proceeds from issuance of stock | |||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Proceeds from common stock | $ 64,032 | $ 829,663 | $ 4,472,219 | $ 19,005,323 | |||||||||||||||||||||||
Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Preferred Stock, stated value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||
Warrants to purchase shares | 1,888,813,005 | ||||||||||||||||||||||||||
Proceeds from issuance of stock | $ 1,000,000 | ||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 950,000 | ||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||
Principal balance | $ 17,961,798 | $ 17,961,798 | $ 8,986,605 | $ 2,475,000 | $ 17,961,798 | ||||||||||||||||||||||
Annual interest rate | 10% | 10% | 10% | ||||||||||||||||||||||||
Principal balance | $ 1,045,000 | ||||||||||||||||||||||||||
Warrant received | 298,571,429 | 16,393,443 | |||||||||||||||||||||||||
Offering costs | 27,270 | ||||||||||||||||||||||||||
Agreement description | Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Second Offering, and (ii) issue to Gunnar additional PA Warrants on the terms identical to the Warrants sold in the Second Offering in an amount equal to 10% of the New Debentures sold to Second Closing Purchasers. | ||||||||||||||||||||||||||
Proceeds from common stock | 1,350,000 | ||||||||||||||||||||||||||
Interest payable | 5,187,334 | 446,281 | $ 200,000 | ||||||||||||||||||||||||
Interest payable | $ 43,840 | $ 38,440 | $ 31,240 | ||||||||||||||||||||||||
Dividends payable | $ 33,315 | ||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Gunnar [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Commission payable | $ 95,000 | ||||||||||||||||||||||||||
Legal fees payable | 7,500 | ||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Warrant term | 6 years 6 months | ||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Minimum [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Warrant term | 5 months 1 day | ||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Warrant exercise price | $ 0.00366 | ||||||||||||||||||||||||||
Principal balance | 3,564,937 | ||||||||||||||||||||||||||
Principal balance | 3,564,937 | ||||||||||||||||||||||||||
Interest payable | 120,750 | ||||||||||||||||||||||||||
Dividends payable | $ 464,992 | ||||||||||||||||||||||||||
Promissory Note Agreement [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 100,000 | $ 100,000 | |||||||||||||||||||||||||
Principal balance | $ 110,000 | $ 110,000 | |||||||||||||||||||||||||
Debt maturity date | Apr. 28, 2024 | Apr. 28, 2024 | |||||||||||||||||||||||||
Interest payable | $ 1,718 | ||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Reverse stock split | 30-for-1 reverse stock split | ||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Percentage of increase in preferred stock | 15% | ||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | ||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 2,639,000 | ||||||||||||||||||||||||||
Principal balance | $ 305,000 | 6,600,000 | |||||||||||||||||||||||||
Annual interest rate | 10% | ||||||||||||||||||||||||||
Principal balance | $ 3,355,000 | ||||||||||||||||||||||||||
Warrant received | 958,571,426 | ||||||||||||||||||||||||||
Warrant coverage percentage | 100% | ||||||||||||||||||||||||||
Commission payable | $ 305,000 | ||||||||||||||||||||||||||
Offering expenses | $ 106,000 | ||||||||||||||||||||||||||
Offering costs | $ 32,000 | ||||||||||||||||||||||||||
Agreement description | In connection with the Initial Closing, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors. | ||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The Warrants are exercisable for five years and six months from the earlier of the maturity date of the Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement | ||||||||||||||||||||||||||
Interest payable | $ 200,000 | ||||||||||||||||||||||||||
Debt conversion amount | $ 13,600,000 | ||||||||||||||||||||||||||
Outstanding percentage | 10% | ||||||||||||||||||||||||||
Salaries | $ 400,000 | ||||||||||||||||||||||||||
Base salary percentage | 35% | ||||||||||||||||||||||||||
Bonus payable | $ 100,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Chief Financial Officer [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Bonus payable | $ 150,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Sharebased compensation available for grant | 150,000,000 | ||||||||||||||||||||||||||
Vesting percentage | 20% | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Convertible Debt Securities [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Annual interest rate | 10% | ||||||||||||||||||||||||||
Conversion price | $ 0.003 | ||||||||||||||||||||||||||
Debt maturity date | Nov. 29, 2023 | ||||||||||||||||||||||||||
Interest rate | 50% | ||||||||||||||||||||||||||
Proceeds from common stock | $ 5,000,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Debenture [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Interest rate | 70% | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Gunnar [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Warrant received | 124,489,795 | ||||||||||||||||||||||||||
Commission payable | $ 305,000 | ||||||||||||||||||||||||||
Legal fees payable | 50,000 | ||||||||||||||||||||||||||
Advisory fee payable | 50,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Principal balance | $ 8,000,000 | ||||||||||||||||||||||||||
Interest payable | 8,186,994 | ||||||||||||||||||||||||||
Dividends payable | 5,425,911 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Theralink Technologies Inc [Member] | Minimum [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Interest payable | 7,119,125 | ||||||||||||||||||||||||||
Dividends payable | $ 8,068,915 | ||||||||||||||||||||||||||
Subsequent Event [Member] | IMAC Louisiana [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Sale of other assets | $ 1,050,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Warrants to purchase shares | 2,075,702 | ||||||||||||||||||||||||||
Proceeds from issuance of stock | $ 4,300,000 | ||||||||||||||||||||||||||
Conversion price | $ 3.276 | ||||||||||||||||||||||||||
Warrant exercise price | $ 3.276 | ||||||||||||||||||||||||||
Warrant term | 5 years | ||||||||||||||||||||||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Series A One Convertible Preferred Stock [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Number of shares issued | 2,500 | ||||||||||||||||||||||||||
Preferred Stock, stated value | $ 1,000 | ||||||||||||||||||||||||||
Percentage of increase in preferred stock | 12% | ||||||||||||||||||||||||||
Number of shares converted | 763,126 | ||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 3,000,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Series A Two Convertible Preferred Stock [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Number of shares issued | 1,800 | ||||||||||||||||||||||||||
Preferred Stock, stated value | $ 1,000 | ||||||||||||||||||||||||||
Number of shares converted | 549,451 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Chief Medical Officer Consulting Agreement [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Related party transaction, description | (a) the Company shall pay Dr, Ruxin compensation equal to $10,000 per month, (b) the Company shall amend the Dr. Ruxin’s existing option award agreement so that upon a “Separation from Service” instead of having 3 months to exercise the options, Dr. Ruxin’s options shall be exercisable until their expiration date and (c) the Company shall issue Dr. Ruxin options to purchase shares of the Company’s common stock in accordance with the Company’s newly planned Equity Incentive Plan, according to the standard amounts awarded to Chief Medical Officers, as well as taking into consideration the past 5 years of service to the company as is planned for current employees, subject to Board approval. This Agreement commenced on July 14, 2023 and will continue for one year and will be brought to the Board of Directors annually for renewal approval based on prior year performance metrics and then for subsequent one-year periods if not terminated 60 days prior to renewa | ||||||||||||||||||||||||||
Share based compensation | $ 10,000 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Promissory Note Agreement [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Principal balance | $ 439,590 | ||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 439,590 | ||||||||||||||||||||||||||
Annual interest rate | 6% | ||||||||||||||||||||||||||
Conversion price | $ 0.00313 | ||||||||||||||||||||||||||
Subsequent Event [Member] | Convertible Secured Promissory Note [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Principal balance | $ 2,560,500 | ||||||||||||||||||||||||||
Subsequent Event [Member] | I M A C Note Agreement [Member] | Theralink Technologies Inc [Member] | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Annual interest rate | 6% |
Schedule of Operating Lease Rig
Schedule of Operating Lease Right of Use Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Business Combination and Asset Acquisition [Abstract] | |||
Right of use assets, net of amortization | $ 1,685,802 | $ 3,623,078 | $ 4,948,393 |
Business Acquisitions (Details
Business Acquisitions (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
Jul. 26, 2021 | Jul. 11, 2021 | Dec. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Oct. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Feb. 28, 2021 | |
Business Acquisition [Line Items] | |||||||||||||||
Goodwill | $ 4,661,796 | ||||||||||||||
Impairment loss | 4,500,000 | 4,500,000 | |||||||||||||
Intangible assets, net | 1,121,707 | 658,143 | 658,143 | 1,121,707 | |||||||||||
Gain loss on dissolution of subsidiary | |||||||||||||||
Gross proceeds from issuance of stock | $ 64,032 | $ 829,663 | 4,472,219 | 19,005,323 | |||||||||||
Theralink Technologies Inc [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Gain loss on dissolution of subsidiary | $ 9,916 | ||||||||||||||
Gross proceeds from issuance of stock | $ 1,350,000 | ||||||||||||||
Onc Bio Mune Sub Inc [Member] | Theralink Technologies Inc [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Gain loss on dissolution of subsidiary | $ 9,916 | ||||||||||||||
Onc Bio Mune Sub Inc [Member] | Theralink Technologies Inc [Member] | Various Investors [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Number of shares issued | 10,000 | ||||||||||||||
Gross proceeds from issuance of stock | $ 1,000 | ||||||||||||||
Customer Lists [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Intangible assets, net | $ 28,875 | 28,875 | $ 44,961 | ||||||||||||
NHC Chiropractic, PLLC [Member] | Orlando [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | $ 142,500 | ||||||||||||||
Business combination property and equipment | 149,720 | ||||||||||||||
Business combination property and equipment, accounts payable | $ 7,220 | ||||||||||||||
Fort Pierce Chiropractic [Member] | Fort Pierce [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | $ 50,000 | ||||||||||||||
Business combination property and equipment | 45,000 | ||||||||||||||
Fort Pierce Chiropractic [Member] | Fort Pierce [Member] | Customer Lists [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Intangible assets, net | 5,000 | ||||||||||||||
Active Medical Center [Member] | Naperville [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | 205,000 | ||||||||||||||
Business combination property and equipment | 200,000 | ||||||||||||||
Remaining deposits | $ 5,000 | ||||||||||||||
Louisiana Orthopaedic [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | $ 1,200,000 | ||||||||||||||
Goodwill | 2,045,500 | ||||||||||||||
Louisiana Orthopaedic [Member] | Noncompete Agreements [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Business acquisition identifiable tangible assets | 192,500 | ||||||||||||||
Louisiana Orthopaedic [Member] | Intellectual Property [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Business acquisition identifiable tangible assets | 77,000 | ||||||||||||||
Sports Rehab Institute, Inc. [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | $ 1,200,000 | ||||||||||||||
Management Services Agreement [Member] | Willmitch Chiropractic P.A. [Member] | Tampa [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Acquisition on outstanding equity interest | $ 421,000 | ||||||||||||||
Business combination property and equipment | 7,400 | ||||||||||||||
Goodwill | $ 413,600 | ||||||||||||||
Impairment loss | $ 413,600 |
Schedule of Stock Option Activi
Schedule of Stock Option Activity (Details) - USD ($) | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
Subsidiary or Equity Method Investee [Line Items] | |||||||||
Number of Shares Subject to Issuance, Outstanding | 11,215 | 12,235 | 12,006 | ||||||
Weighted-average Exercise Price, Outstanding | $ 96.90 | $ 96.90 | $ 102.9 | ||||||
Weighted-average Remaining Contractual Term, Outstanding Ending | 112 years 6 months | 107 years 4 months 24 days | 100 years 6 months | ||||||
Number of Shares Subject to Issuance, Granted | 1,633 | ||||||||
Weighted-average Exercise Price, Granted | $ 48 | ||||||||
Weighted Average Remaining Contractual Life, Granted | 102 years | ||||||||
Number of Shares, Exercised | |||||||||
Weighted Average Exercise Price, Exercised | |||||||||
Number of Shares, Cancelled | (1,020) | (1,404) | |||||||
Weighted Average Exercise Price, Cancelled | $ 97.80 | $ 117.60 | |||||||
Weighted Average Remaining Contractual Life, Cancelled | 49 years 6 months | 43 years 2 months 12 days | |||||||
Number of Shares Subject to Issuance, Outstanding | 11,215 | 12,235 | 12,006 | ||||||
Weighted-average Exercise Price, Outstanding | $ 96.90 | $ 96.90 | $ 102.9 | ||||||
Theralink Technologies Inc [Member] | |||||||||
Subsidiary or Equity Method Investee [Line Items] | |||||||||
Number of Shares Subject to Issuance, Outstanding | 1,901,410,519 | ||||||||
Weighted-average Exercise Price, Outstanding | $ 0.0036 | ||||||||
Weighted-average Remaining Contractual Term, Outstanding Ending | 9 years 1 month 17 days | 9 years 10 months 17 days | |||||||
Number of Shares Subject to Issuance, Granted | 1,901,410,519 | ||||||||
Weighted-average Exercise Price, Granted | $ 0.0036 | ||||||||
Number of Shares, Exercised | 1,651,962,645 | 1,353,744,175 | |||||||
Number of Shares Subject to Issuance, Outstanding | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | ||||||
Weighted-average Exercise Price, Outstanding | $ 0.0036 | $ 0.0036 | $ 0.0036 | ||||||
Outstanding-Aggregate Intrinsic Value, Beginning | |||||||||
Outstanding-Aggregate Intrinsic Value, Ending | $ 0 | $ 0 | |||||||
Number of Shares Subject to Issuance, Exercisable | 1,651,962,645 | [1] | 1,651,962,645 | [1] | 1,353,744,175 | [2] | |||
Weighted-average Exercise Price, Exercisable | $ 0.0036 | $ 0.0036 | $ 0.0036 | ||||||
Weighted-average Remaining Contractual Term | 9 years 1 month 17 days | 9 years 10 months 17 days | |||||||
Outstanding-Aggregate Intrinsic Value, Exercisable | $ 0 | $ 0 | |||||||
Number of shares, non vested and expected to vest, beginning balance | 547,666,344 | ||||||||
Weighted-average Exercise Price, Outstanding | $ 0.0036 | ||||||||
Weighted-average Exercise Price, Granted | $ 0.0036 | ||||||||
Number of Shares Subject to Vested | (298,218,470) | (1,353,744,175) | |||||||
Weighted-average Exercise Price, Vested | $ 0.0036 | $ 0.0036 | |||||||
Number of shares, non vested and expected to vest, ending balance | 249,447,874 | 249,447,874 | 547,666,344 | ||||||
Weighted-average Exercise Price, Outstanding | $ 0.0036 | $ 0.0036 | $ 0.0036 | ||||||
Weighted-average Remaining Contractual Term | 9 years 1 month 17 days | ||||||||
Exercisable-Aggregate Intrinsic Value | $ 0 | ||||||||
[1]These vested options are only exercisable upon the company filing an S-8 to register the underlying shares.[2]These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. |
Schedule of Restricted Stock Un
Schedule of Restricted Stock Units (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
Number of Shares Outstanding, Beginning balance | 8,692 | 14,688 |
Weighted Average Grant Date Fair Value, Beginning balance | $ 60.60 | $ 54.90 |
Number of Shares, Granted | 30,400 | 900 |
Weighted Average Grant Date Fair Value, Granted | $ 15.30 | $ 46.80 |
Number of Shares, Vested | (14,896) | (6,896) |
Weighted Average Grant Date Fair Value, Vested | $ 28.8 | $ 46.80 |
Number of Shares, Cancelled | (167) | |
Weighted Average Grant Date Fair Value, Cancelled | $ 13.20 | |
Number of Shares Outstanding, Ending balance | 24,029 | 8,692 |
Weighted Average Grant Date Fair Value, Ending balance | $ 23.40 | $ 60.60 |
Schedule of Components of Incom
Schedule of Components of Income tax Benefits (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||||||
Current income tax expense (refund) - federal | ||||||
Current income tax expense (refund) - state | ||||||
Total current income tax expense (refund) | ||||||
Deferred income tax expense (benefit) - federal | ||||||
Deferred income tax expense (benefit) - state | ||||||
Total deferred income tax expense (benefit) | ||||||
Total provision for income taxes |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets: | ||
Reserves & allowances | $ 20,738 | $ 20,880 |
Charitable contribution carry-forward | 3,000 | 3,020 |
Net operating loss carry-forward - federal | 7,778,105 | 6,049,391 |
Net operating loss carry-forward - state | 2,294,317 | 1,887,147 |
Amortization | 2,029,833 | |
Non-qualified stock options | 459,093 | 349,328 |
Total deferred tax assets | 12,585,086 | 8,309,766 |
Deferred tax liabilities: | ||
Depreciation | (2,914) | (200,738) |
Amortization | (119,004) | |
Total deferred tax liabilities | (2,914) | (319,742) |
Less valuation allowance | (12,582,172) | (7,990,024) |
Total net deferred tax assets |
Schedule of Company_s Effective
Schedule of Company’s Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
Federal statutory income tax | 21% | 21% |
Permanent differences | (0.01%) | (0.01%) |
Change in Tax Credits | 0% | 0% |
Change in Tax Rate | 0% | 0% |
Change in valuation allowance | (25.20%) | (25.77%) |
State income taxes, net of federal benefit | 4.61% | 4.78% |
Prior year adjustments | (0.40%) | 0% |
Total | 0% | 0% |
Schedule of Preliminary Unaudit
Schedule of Preliminary Unaudited Pro Forma (Details) - USD ($) | Jun. 30, 2023 | Jan. 27, 2023 | Jan. 17, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | |||||
Current Assets | $ 1,276,336 | $ 4,207,927 | $ 9,067,506 | ||
Property and equipment, net | 565,843 | 1,584,714 | 2,323,163 | ||
Other Assets | 2,802,821 | 5,288,965 | 15,838,524 | ||
Total Assets | 4,645,000 | 11,081,606 | 27,229,193 | ||
Liabilities and Stockholders equity: | |||||
Total Current Liabilities | 3,923,591 | 3,713,832 | 4,933,861 | ||
Long-Term Liabilities | 2,716,518 | ||||
Total Liabilities | 5,003,970 | 6,430,350 | 9,276,132 | ||
Accumulated deficit | $ (51,621,700) | (46,519,740) | $ (28,206,934) | ||
Impact From the Sale of Operations Associated with Louisiana Orthopedic [Member] | Subsequent Event [Member] | Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | |||||
Assets: | |||||
Current Assets | $ (673,650) | ||||
Property and equipment, net | (111,688) | ||||
Other Assets | (634,887) | ||||
Total Assets | (1,420,225) | ||||
Liabilities and Stockholders equity: | |||||
Total Current Liabilities | (133,569) | ||||
Long-Term Liabilities | (447,318) | ||||
Total Liabilities | (580,887) | ||||
Accumulated deficit | $ (839,338) | ||||
Impact From The Sale of The Back Space Operations [Member] | Subsequent Event [Member] | Revision of Prior Period, Adjustment [Member] | |||||
Assets: | |||||
Current Assets | $ (55,478) | ||||
Property and equipment, net | (631,281) | ||||
Other Assets | (932,504) | ||||
Total Assets | (1,619,263) | ||||
Liabilities and Stockholders equity: | |||||
Total Current Liabilities | (192,792) | ||||
Long-Term Liabilities | (679,621) | ||||
Total Liabilities | (872,413) | ||||
Accumulated deficit | $ (746,850) | ||||
Resulting Impact of Subsequent Events [Member] | |||||
Assets: | |||||
Current Assets | 3,478,799 | ||||
Property and equipment, net | 841,745 | ||||
Other Assets | 3,721,574 | ||||
Total Assets | 8,042,118 | ||||
Liabilities and Stockholders equity: | |||||
Total Current Liabilities | 3,387,471 | ||||
Long-Term Liabilities | 1,589,579 | ||||
Total Liabilities | 4,977,050 | ||||
Accumulated deficit | $ (48,105,928) |
Schedule of Fair Value Measured
Schedule of Fair Value Measured on Recurring Basis (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 |
Subsidiary or Equity Method Investee [Line Items] | |||||
Derivative liabilities | |||||
Theralink Technologies Inc [Member] | |||||
Subsidiary or Equity Method Investee [Line Items] | |||||
Derivative liabilities | 33,484,450 | ||||
Fair Value, Inputs, Level 1 [Member] | Theralink Technologies Inc [Member] | |||||
Subsidiary or Equity Method Investee [Line Items] | |||||
Derivative liabilities | |||||
Fair Value, Inputs, Level 2 [Member] | Theralink Technologies Inc [Member] | |||||
Subsidiary or Equity Method Investee [Line Items] | |||||
Derivative liabilities | |||||
Fair Value, Inputs, Level 3 [Member] | Theralink Technologies Inc [Member] | |||||
Subsidiary or Equity Method Investee [Line Items] | |||||
Derivative liabilities | $ 33,484,450 |
Schedule of Valuation on Deriva
Schedule of Valuation on Derivative Instruments (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||
Apr. 22, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Subsidiary or Equity Method Investee [Line Items] | |||||||
Balance at beginning of period | |||||||
Change in fair value included in derivative expense | |||||||
Balance at end of period | |||||||
Theralink Technologies Inc [Member] | |||||||
Subsidiary or Equity Method Investee [Line Items] | |||||||
Balance at beginning of period | |||||||
Change in fair value included in derivative expense | $ 10,995,763 | 11,482,036 | (16,442,350) | ||||
Balance at end of period | 33,484,450 | 33,484,450 | 33,484,450 | ||||
Fair Value, Inputs, Level 3 [Member] | Theralink Technologies Inc [Member] | |||||||
Subsidiary or Equity Method Investee [Line Items] | |||||||
Balance at beginning of period | |||||||
Initial valuation of derivative liabilities included in debt discount | 17,042,100 | ||||||
Initial valuation of derivative liabilities included in derivative expense | 27,438,113 | ||||||
Change in fair value included in derivative expense | (10,995,763) | ||||||
Balance at end of period | $ 33,484,450 | $ 33,484,450 | $ 33,484,450 |
Schedule of Revenues by Categor
Schedule of Revenues by Category (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Subsidiary or Equity Method Investee [Line Items] | ||||||||||
Total revenues | $ 1,343,975 | $ 5,033,088 | $ 3,437,337 | $ 8,928,075 | $ 16,185,682 | $ 14,385,828 | ||||
Theralink Technologies Inc [Member] | ||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||
Total revenues | $ 202,447 | $ 164,213 | $ 427,529 | $ 262,688 | $ 567,905 | $ 505,604 | ||||
Theralink Technologies Inc [Member] | Biopharma Services [Member] | ||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||
Total revenues | 305,960 | 241,843 | ||||||||
Theralink Technologies Inc [Member] | Patient Testing Service [Member] | ||||||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||||||
Total revenues | $ 121,569 | $ 20,845 |
Schedule of Contract Liabilitie
Schedule of Contract Liabilities (Details) - USD ($) | 9 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | |
Subsidiary or Equity Method Investee [Line Items] | |||||
Total contract liabilities | |||||
Theralink Technologies Inc [Member] | |||||
Subsidiary or Equity Method Investee [Line Items] | |||||
Contract liabilities beginning balance | 156,550 | $ 135,150 | |||
Billings and cash receipts on uncompleted contracts | 159,465 | 325,048 | |||
Less: revenues recognized during the period | (55,575) | (157,525) | |||
Total contract liabilities | 260,440 | $ 302,672 | |||
Contract liabilities beginning balance | $ 135,150 | ||||
Billings and cash receipts on uncompleted contracts | 325,048 | 281,012 | |||
Less: revenues recognized during the period | (303,648) | (145,862) | |||
Total contract liabilities | $ 260,440 | $ 156,550 | $ 135,150 |
Schedule of Basic and Diluted N
Schedule of Basic and Diluted Net Income (loss) Per Common Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | [1] | Sep. 30, 2022 | Dec. 31, 2021 | [1] | Sep. 30, 2021 | ||||||
Net income (loss) per common share - basic: | |||||||||||||||||
Net income (loss) attributable to common shareholders - basic | |||||||||||||||||
Weighted average common shares outstanding – basic | 1,104,711 | 893,364 | 1,102,587 | 886,151 | 942,463 | 751,723 | |||||||||||
Net income (loss) per common share – basic | $ (1.27) | [2] | $ (2.06) | [2] | $ (4.63) | [2] | $ (5.65) | [2] | $ (19.43) | $ (14.02) | |||||||
Add: dilutive shares related to: | |||||||||||||||||
Weighted average common shares outstanding – diluted | [2] | 1,104,711 | 893,364 | 1,102,587 | 886,151 | ||||||||||||
Net loss per common share – diluted | [2] | $ (1.27) | $ (2.06) | $ (4.63) | $ (5.65) | ||||||||||||
Theralink Technologies Inc [Member] | |||||||||||||||||
Net income (loss) per common share - basic: | |||||||||||||||||
Net income (loss) attributable to common shareholders - basic | $ 4,500,049 | $ (1,768,629) | $ (40,562,132) | $ (5,236,563) | $ (12,981,962) | $ (6,638,267) | |||||||||||
Weighted average common shares outstanding – basic | 6,151,499,919 | 6,062,411,449 | 6,151,499,919 | 5,732,126,399 | 5,881,207,480 | 5,369,618,049 | |||||||||||
Net income (loss) per common share – basic | $ 0 | $ 0 | $ (0.01) | $ 0 | $ 0 | $ 0 | |||||||||||
Net income (loss) per common share - diluted: | |||||||||||||||||
Add: interest on convertible debt | $ 5,060,163 | ||||||||||||||||
Less: derivative gain | (11,482,036) | ||||||||||||||||
Numerator for loss per common share – diluted | (1,921,824) | (1,768,629) | (40,562,132) | (5,236,563) | |||||||||||||
Add: dilutive shares related to: | |||||||||||||||||
Stock options | |||||||||||||||||
Warrants | 1,555,920,022 | ||||||||||||||||
Convertible debt | $ 13,439,835,126 | ||||||||||||||||
Weighted average common shares outstanding – diluted | 21,147,255,067 | 6,062,411,449 | 6,151,499,919 | 5,732,126,399 | |||||||||||||
Net loss per common share – diluted | $ 0 | $ 0 | $ (0.01) | $ 0 | |||||||||||||
[1]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15)[2]Retrospectively restated for the effect of 30-for-1 reverse stock split. (Note 15) |
Schedule of Anti-dilutive Share
Schedule of Anti-dilutive Shares Outstanding (Details) - Theralink Technologies Inc [Member] - shares | 9 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | |
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 22,606,747,999 | 4,861,890,015 | 7,172,264,119 | 3,441,269,189 |
Warrant [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 7,244,334,819 | 1,876,207,963 | 1,888,813,005 | 984,470,116 |
Share-Based Payment Arrangement, Option [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 1,901,410,519 | |||
Series C One Preferred Stock [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 21,167,535 | 156,626,175 | 156,626,175 | 445,301,289 |
Series C Two Preferred Stock [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 453,067,129 | 453,067,129 | 733,542,619 | |
Series E Preferred Stock [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 638,977,636 | 638,977,636 | 638,977,636 | |
Series F Preferred Stock [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 319,488,818 | 319,488,818 | 319,488,818 | |
Convertible Debt Securities [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 13,439,835,126 | 1,417,522,294 | 1,813,880,837 | 319,488,711 |
Stock Options [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total antidilutive securities excluded from computation of earnings | 1,901,410,519 |
Shareholders_ Equity (Details N
Shareholders’ Equity (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
May 23, 2023 | May 19, 2023 | Jan. 27, 2023 | Nov. 29, 2022 | Oct. 15, 2022 | Sep. 22, 2022 | Aug. 16, 2022 | Feb. 21, 2022 | Oct. 28, 2021 | Oct. 02, 2021 | Jul. 26, 2021 | Apr. 07, 2021 | Jan. 30, 2021 | Oct. 20, 2020 | Oct. 05, 2020 | Jun. 05, 2020 | Aug. 13, 2019 | May 21, 2019 | Mar. 31, 2021 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jul. 06, 2022 | Jul. 05, 2022 | Jul. 02, 2022 | Jul. 01, 2022 | Nov. 01, 2021 | Sep. 24, 2020 | Sep. 22, 2020 | Jul. 02, 2020 | May 31, 2018 | |
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 64,032 | $ 829,663 | $ 4,472,219 | $ 19,005,323 | ||||||||||||||||||||||||||||||||||||
Stock issued during period, value | $ 47,382 | $ 16,650 | $ 935,662 | $ 148,560 | $ 4,915,931 | $ 20,528,299 | ||||||||||||||||||||||||||||||||||
Common stock shares authorized | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 30,000,000 | 60,000,000 | ||||||||||||||||||||||||||||||||
Number of shares, granted | 1,633 | |||||||||||||||||||||||||||||||||||||||
Number of shares granted | 30,400 | 900 | ||||||||||||||||||||||||||||||||||||||
Number of shares vested | 14,896 | 6,896 | ||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 1,350,000 | |||||||||||||||||||||||||||||||||||||||
Issuance initial public offering | $ 950,000 | |||||||||||||||||||||||||||||||||||||||
Stock issued during period, value | ||||||||||||||||||||||||||||||||||||||||
Common stock shares authorized | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 6,666,667 | 12,000,000,000 | |||||||||||||||||||||||||||||
Warrants to purchase common shares | 298,571,429 | 16,393,443 | ||||||||||||||||||||||||||||||||||||||
Number of shares, granted | 1,901,410,519 | |||||||||||||||||||||||||||||||||||||||
Conversion of stock shares converted | 280,475,491 | |||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Outstanding restricted stock of its common stock | $ 9,250 | |||||||||||||||||||||||||||||||||||||||
Number of shares granted | 1,000 | |||||||||||||||||||||||||||||||||||||||
Number of shares vested | 10,000 | |||||||||||||||||||||||||||||||||||||||
Non Qualified Stock Options [Member] | Various Employees [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares, granted | 4,368 | 9,152 | ||||||||||||||||||||||||||||||||||||||
Vesting period | 4 years | 4 years | ||||||||||||||||||||||||||||||||||||||
vesting percentage | 25% | 25% | ||||||||||||||||||||||||||||||||||||||
Remaining vesting percentage | 75% | 75% | ||||||||||||||||||||||||||||||||||||||
2018 Incentive Compensation Plan Member [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Reserving for issuance | 66,667 | 33,333 | 33,333 | |||||||||||||||||||||||||||||||||||||
IPO [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Issuance initial public offering | $ 412,092 | |||||||||||||||||||||||||||||||||||||||
Warrants to purchase common shares | 157,142,857 | |||||||||||||||||||||||||||||||||||||||
Underwriters [Member] | IPO [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 39,792 | |||||||||||||||||||||||||||||||||||||||
Issuance initial public offering | $ 1,910,000 | |||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ 48 | |||||||||||||||||||||||||||||||||||||||
Stock issued during period, value | $ 115,000 | |||||||||||||||||||||||||||||||||||||||
Underwriters [Member] | Over-Allotment Option [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Percentage of over-allotment option exercised | 15% | |||||||||||||||||||||||||||||||||||||||
Non Executive Staff And Contractors [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Vesting period | 1 year | |||||||||||||||||||||||||||||||||||||||
Number of shares granted | 567 | |||||||||||||||||||||||||||||||||||||||
Consultant [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 333 | |||||||||||||||||||||||||||||||||||||||
Executive [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 3,333 | |||||||||||||||||||||||||||||||||||||||
Board Members [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares granted | 8,767 | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||
Certain Employees And Executive [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Vesting period | 1 year | |||||||||||||||||||||||||||||||||||||||
Number of shares granted | 17,067 | |||||||||||||||||||||||||||||||||||||||
Ascendiant Capital Markets [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 17,000,000 | |||||||||||||||||||||||||||||||||||||||
Number of shares issued | 354,167 | |||||||||||||||||||||||||||||||||||||||
Issuance initial public offering | $ 1,200,000 | |||||||||||||||||||||||||||||||||||||||
Payment for indebtedness | $ 1,800,000 | |||||||||||||||||||||||||||||||||||||||
Onc Bio Mune Sub Inc [Member] | Investor [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 1,000 | |||||||||||||||||||||||||||||||||||||||
Number of shares issued | 10,000 | |||||||||||||||||||||||||||||||||||||||
Onc Bio Mune Sub Inc [Member] | Various Investors [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 1,000 | |||||||||||||||||||||||||||||||||||||||
Number of shares issued | 10,000 | |||||||||||||||||||||||||||||||||||||||
I M A C Holdings Inc [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | |||||||||||||||||||||||||||||||||||||||
Percentage of shares outstanding | 85% | |||||||||||||||||||||||||||||||||||||||
At The Market Issuance Sales Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Stock issued during period, value, issued for services | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||
Sale of stock , shares | 83,918 | 32,526 | 127 | |||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock | $ 3,800,000 | |||||||||||||||||||||||||||||||||||||||
Sale of stock, value | $ 900,000 | $ 8,000 | ||||||||||||||||||||||||||||||||||||||
Stock Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 27,027 | |||||||||||||||||||||||||||||||||||||||
Stock Purchase Agreement [Member] | Louisiana Acquistion [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Business combination, consideration transferred | $ 1,200,000 | |||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Warrants exercise price | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of warrant | $ 3,900,000 | |||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series One Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Warrants to purchase common shares | 172,149 | |||||||||||||||||||||||||||||||||||||||
Warrants exercise price | $ 28.50 | |||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series Two Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Warrants to purchase common shares | 172,149 | |||||||||||||||||||||||||||||||||||||||
Warrants exercise price | $ 28.50 | |||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Accredited Investors [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 172,149 | |||||||||||||||||||||||||||||||||||||||
Share price | $ 22.80 | |||||||||||||||||||||||||||||||||||||||
Warrants to purchase common shares | 172,149 | |||||||||||||||||||||||||||||||||||||||
Warrants exercise price | $ 28.50 | |||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of warrant | $ 3,900,000 | |||||||||||||||||||||||||||||||||||||||
Asset Purchase Agreement [Member] | Series D One Preferred Stock [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 1,000 | |||||||||||||||||||||||||||||||||||||||
Common stock shares authorized | 6,666,667 | 12,000,000,000 | 12,000,000,000 | 12,000,000,000 | 12,000,000,000 | |||||||||||||||||||||||||||||||||||
Conversion of stock shares converted | 5,081,549,184 | |||||||||||||||||||||||||||||||||||||||
Percentage of voting Interests acquired | 54.55% | |||||||||||||||||||||||||||||||||||||||
Asset Purchase Agreement [Member] | Avant [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Sale of stock percentage of ownership after transaction | 54.55% | 54.55% | ||||||||||||||||||||||||||||||||||||||
Asset Purchase Agreement [Member] | Avant [Member] | Series D One Preferred Stock [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Percentage of voting Interests acquired | 54.55% |
Schedule of Convertible Notes P
Schedule of Convertible Notes Payable (Details) - USD ($) | Jun. 30, 2023 | Apr. 11, 2023 | Jan. 27, 2023 | Dec. 31, 2022 | Nov. 29, 2022 | Oct. 22, 2022 | Sep. 30, 2022 | Sep. 30, 2021 |
Convertible notes payable, net | ||||||||
Theralink Technologies Inc [Member] | ||||||||
Principal amount | 8,986,605 | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | $ 2,475,000 | |||
Less: debt discount | (3,799,271) | (2,028,719) | ||||||
Convertible notes payable, net | 5,187,334 | $ 200,000 | 446,281 | |||||
Less: current portion of convertible notes payable - related parties | (5,187,334) | |||||||
Convertible notes payable, net – long-term | 446,281 | |||||||
Principal amount – related parties | 9,130,292 | 4,150,000 | 1,000,000 | |||||
Less: debt discount – related parties | (3,820,629) | (1,844,186) | (935,019) | |||||
Convertible notes payable - related parties, net | 5,309,663 | 2,305,814 | 64,981 | |||||
Less: current portion | (5,309,663) | (1,000,000) | ||||||
Convertible notes payable - related parties, net – long-term | 1,305,814 | 64,981 | ||||||
Total convertible notes payable, net | 10,496,997 | 2,752,095 | 64,981 | |||||
Convertible notes payable, net | 446,281 | |||||||
Convertible notes payable - related parties, net | $ 5,309,663 | $ 2,305,814 | $ 64,981 |
Schedule of Fair Value of Embed
Schedule of Fair Value of Embedded Option and Stock Warrants (Details) - Theralink Technologies Inc [Member] | Jun. 30, 2023 |
Minimum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Term (in years). maximum | 5 months 1 day |
Maximum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Term (in years). maximum | 6 years 6 months |
Measurement Input, Expected Dividend Rate [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Risk free interest rate maximum | 0 |
Measurement Input, Option Volatility [Member] | Minimum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Risk free interest rate maximum | 172.14 |
Measurement Input, Option Volatility [Member] | Maximum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Risk free interest rate maximum | 396.53 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Risk free interest rate maximum | 3.60 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |
Debt Securities, Available-for-Sale [Line Items] | |
Risk free interest rate maximum | 5.47 |
Schedule of Notes Payable - Rel
Schedule of Notes Payable - Related Parties (Details) - USD ($) | Jun. 30, 2023 | Apr. 11, 2023 | Jan. 27, 2023 | Dec. 31, 2022 | Nov. 29, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Notes payable – related parties, net | $ 74,579 | $ 104,696 | $ 359,184 | |||||
Less: current portion of notes payable - related parties | (39,435) | (51,657) | (254,487) | |||||
Notes payable – related parties, net – long-term | (35,144) | $ (53,039) | $ (104,697) | |||||
Theralink Technologies Inc [Member] | ||||||||
Principal amount | 8,986,605 | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | $ 2,475,000 | |||
Less: debt discount | (3,799,271) | (2,028,719) | ||||||
Notes payable – related parties, net | 40,000 | 40,000 | ||||||
Less: current portion of notes payable - related parties | (1,000) | (1,000) | ||||||
Theralink Technologies Inc [Member] | Related Party [Member] | ||||||||
Principal amount | 836,966 | 350,000 | ||||||
Less: debt discount | (39,769) | |||||||
Notes payable – related parties, net | 797,197 | 350,000 | ||||||
Less: current portion of notes payable - related parties | (797,197) | (350,000) | $ (100,000) | |||||
Theralink Technologies Inc [Member] | Nonrelated Party [Member] | ||||||||
Less: current portion of notes payable - related parties | (1,000) | (1,000) | ||||||
Notes payable – related parties, net – long-term |
Schedule of Financial Lease Rig
Schedule of Financial Lease Right-of-use Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 |
Balance of Financing ROU assets | ||||
Theralink Technologies Inc [Member] | ||||
Financing ROU assets | 231,841 | $ 231,841 | $ 231,841 | |
Less accumulated depreciation | (201,663) | (166,887) | (120,518) | |
Balance of Financing ROU assets | $ 30,178 | $ 64,954 | $ 111,323 |
Schedule of Financing Lease Lia
Schedule of Financing Lease Liability Related to Financing Right-of-use Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Less: short term portion | $ (16,853) | $ (19,898) | $ (19,050) | ||
Long term portion | 2,580 | $ 9,375 | $ 29,273 | ||
Theralink Technologies Inc [Member] | |||||
Financing lease payables for equipment | 231,841 | $ 231,841 | $ 231,841 | ||
Total financing lease payables | 231,841 | 231,841 | 231,841 | ||
Payments of financing lease liabilities | (183,318) | (143,456) | (95,726) | ||
Total | 48,523 | 88,385 | 136,115 | ||
Less: short term portion | (39,565) | (53,995) | (47,730) | ||
Long term portion | $ 8,958 | $ 34,390 | $ 88,385 |
Schedule of Future Minimum Le_2
Schedule of Future Minimum Lease Payments Under Financing Lease (Details) - Theralink Technologies Inc [Member] - USD ($) | Jun. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
2024 | $ 42,237 | ||
2023 | 9,164 | $ 62,762 | |
Total minimum financing lease payments | 51,401 | 98,846 | |
Less: discount to fair value | (2,878) | (10,461) | |
Total financing lease payable on September 30, 2022 | $ 48,523 | 88,385 | $ 136,115 |
2024 | 31,900 | ||
2025 | $ 4,185 |
Schedule of Operating Right-of-
Schedule of Operating Right-of-use Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Balance of Operating ROU asset | $ 1,685,802 | $ 3,623,078 | $ 4,948,393 | ||
Theralink Technologies Inc [Member] | |||||
Operating office lease | 1,212,708 | $ 1,212,708 | $ 231,337 | ||
Less accumulated reduction | (95,539) | (57,847) | (62,673) | ||
Balance of Operating ROU asset | $ 1,117,169 | $ 1,154,861 | $ 168,664 |
Schedule of Operating Lease Lia
Schedule of Operating Lease Liability Related to Right-of-use Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Total operating lease liability | $ 1,990,312 | $ 4,022,120 | |||
Less: short term portion | (947,657) | (1,368,016) | $ (1,478,140) | ||
Long term portion | 1,042,655 | $ 2,654,104 | $ 4,018,926 | ||
Theralink Technologies Inc [Member] | |||||
Operating office lease | 1,212,708 | $ 1,212,708 | $ 231,337 | ||
Total operating lease liability | 1,212,708 | 1,212,708 | 231,337 | ||
Reduction of operating lease liability | (48,170) | (29,396) | (54,444) | ||
Total operating lease liability | 1,164,538 | 1,183,312 | 176,893 | ||
Less: short term portion | (29,880) | (25,551) | (42,411) | ||
Long term portion | $ 1,134,658 | $ 1,157,761 | $ 134,482 |
Schedule of Future Minimum Le_3
Schedule of Future Minimum Lease Payments of Operating Lease (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 |
2024 | $ 538,112 | |||
2023 | 734,612 | $ 1,545,103 | ||
2024 | 468,745 | 1,152,928 | ||
2025 | 236,609 | 887,061 | ||
2026 | 73,823 | 628,509 | ||
Thereafter | 137,383 | |||
Total | 2,133,592 | 4,432,675 | ||
Less: discount to fair value | (143,280) | (410,555) | ||
Total operating lease liability on September 30, 2022 | 1,990,312 | $ 4,022,120 | ||
2027 and thereafter | 81,691 | |||
Theralink Technologies Inc [Member] | ||||
2024 | 121,993 | |||
2023 | 125,652 | $ 119,310 | ||
2024 | 129,422 | 122,893 | ||
2025 | 134,179 | 126,580 | ||
2026 | 138,204 | 130,377 | ||
Thereafter | 1,309,553 | |||
Total | 1,959,003 | 2,048,290 | ||
Less: discount to fair value | (794,465) | (864,978) | ||
Total operating lease liability on September 30, 2022 | $ 1,164,538 | 1,183,312 | $ 176,893 | |
2027 and thereafter | $ 1,549,130 |
Marketable Securities (Details
Marketable Securities (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May 04, 2023 USD ($) | Apr. 28, 2023 USD ($) | Apr. 22, 2023 USD ($) | Apr. 11, 2023 USD ($) shares | Jan. 27, 2023 USD ($) shares | Nov. 29, 2022 USD ($) $ / shares shares | Oct. 22, 2022 USD ($) | Aug. 16, 2022 $ / shares shares | Jul. 02, 2022 USD ($) $ / shares shares | Jun. 15, 2022 USD ($) $ / shares shares | May 09, 2022 USD ($) $ / shares shares | May 09, 2022 USD ($) $ / shares shares | May 05, 2022 USD ($) | May 05, 2022 USD ($) | Apr. 05, 2022 USD ($) $ / shares shares | Mar. 24, 2022 USD ($) | Jan. 31, 2022 USD ($) $ / shares shares | Jan. 27, 2022 USD ($) $ / shares shares | Jan. 26, 2022 USD ($) shares | Dec. 01, 2021 USD ($) $ / shares shares | Nov. 01, 2021 USD ($) $ / shares shares | Nov. 01, 2021 USD ($) $ / shares shares | Oct. 21, 2021 USD ($) | Jul. 30, 2021 USD ($) $ / shares shares | Jun. 10, 2021 ft² | May 12, 2021 USD ($) $ / shares shares | May 12, 2021 USD ($) $ / shares shares | May 05, 2021 USD ($) | Apr. 26, 2021 USD ($) | Apr. 26, 2021 USD ($) | Jun. 30, 2023 USD ($) shares | Apr. 30, 2022 USD ($) $ / shares shares | Oct. 31, 2021 USD ($) | Jul. 31, 2021 USD ($) | Jul. 30, 2021 USD ($) $ / shares shares | Jun. 30, 2021 USD ($) | May 31, 2021 USD ($) | Jan. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Aug. 31, 2019 USD ($) | Mar. 31, 2019 USD ($) | Nov. 30, 2018 USD ($) | Jun. 30, 2023 USD ($) shares | Mar. 31, 2023 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2023 USD ($) shares | Mar. 31, 2023 shares | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Oct. 21, 2022 USD ($) | Sep. 30, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Dec. 31, 2017 USD ($) shares | Feb. 28, 2023 USD ($) | Nov. 01, 2022 USD ($) | Sep. 02, 2022 USD ($) | Aug. 11, 2022 USD ($) | Jul. 30, 2022 | Jul. 29, 2022 USD ($) | Jul. 01, 2022 shares | Jun. 10, 2022 USD ($) shares | May 24, 2022 USD ($) shares | Jan. 01, 2022 USD ($) shares | Sep. 15, 2020 | Feb. 29, 2020 USD ($) | Sep. 30, 2017 USD ($) | |
Marketable Securities, Unrealized Gain (Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bad debts | 6,795 | $ 8,333,687 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts receivable written off | $ 74,860 | 74,860 | $ 80,979 | 74,860 | $ 74,860 | 163,479 | 80,979 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 74,579 | 74,579 | 359,184 | 74,579 | 74,579 | 104,696 | 359,184 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | 47,382 | $ 16,650 | 935,662 | $ 148,560 | 4,915,931 | 20,528,299 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | 64,032 | 829,663 | 4,472,219 | 19,005,323 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement expense | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative expense | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating lease, liability | 1,990,312 | 1,990,312 | 1,990,312 | 1,990,312 | 4,022,120 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating right-of-use asset, net | 1,685,802 | 1,685,802 | 4,948,393 | 1,685,802 | 1,685,802 | $ 3,623,078 | $ 4,948,393 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accredited Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 172,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 28.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 172,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marketable Securities, Unrealized Gain (Loss) | 100 | 5,500 | 2,900 | $ 8,600 | $ 7,300 | $ 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marketable Securities | 800 | 800 | 800 | 800 | 3,700 | 11,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bad debts | 10,172 | 39,426 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts receivable written off | 14,000 | 14,000 | 14,000 | 14,000 | 3,832 | $ 3,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 298,571,429 | 16,393,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | 8,986,605 | 8,986,605 | 8,986,605 | 8,986,605 | 2,475,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | 677,562 | 1,900,000 | 400,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 43,840 | 43,840 | 43,840 | 43,840 | 38,440 | 31,240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 446,281 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 3,799,271 | 3,799,271 | 3,799,271 | 3,799,271 | 2,028,719 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 10,656,131 | 501,432 | 738,521 | 64,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 2,950,011 | 2,425,000 | 2,475,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | 10,496,997 | 10,496,997 | 10,496,997 | 10,496,997 | 2,752,095 | 64,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 950,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering costs | 27,270 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | 1,350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long term debt and lease obligations | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | shares | 1,888,813,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 1,045,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | (5,434,447) | 227,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | $ 200,000 | 5,187,334 | 5,187,334 | 5,187,334 | 5,187,334 | 446,281 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement expense | $ 200,000 | 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement description | Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Second Offering, and (ii) issue to Gunnar additional PA Warrants on the terms identical to the Warrants sold in the Second Offering in an amount equal to 10% of the New Debentures sold to Second Closing Purchasers. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | 33,484,450 | 33,484,450 | 33,484,450 | 33,484,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ 326,630 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative expense | 10,995,763 | 11,482,036 | (16,442,350) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 10,651,615 | 501,432 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | 39,862 | 35,242 | 47,730 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation expense financing ROU asset | 11,592 | $ 11,593 | 34,776 | 34,777 | 46,369 | 46,368 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating discount rates | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating lease, liability | 1,164,538 | 1,164,538 | 1,164,538 | 1,164,538 | 1,183,312 | 176,893 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating right-of-use asset, net | 1,117,169 | 1,117,169 | 1,117,169 | 1,117,169 | 1,154,861 | 168,664 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | 8,229 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating office lease | $ 1,212,708 | $ 1,212,708 | $ 1,212,708 | 1,212,708 | 1,212,708 | 231,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating lease cost | 157,762 | 151,180 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Base lease cost | 108,206 | 86,677 | 155,184 | 66,268 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease other expense | $ 49,556 | $ 64,503 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating office lease | 1,212,708 | 231,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | 8,229 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Base lease cost | 115,823 | 64,454 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease other expense | 39,361 | 1,814 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Accounting Standards Update 2016-02 Cumulative Effect, Period of Adoption [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating discount rates | 8% | 12% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating lease, liability | $ 176,893 | $ 231,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating right-of-use asset, net | 168,664 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | 8,229 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating office lease | 1,212,708 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating office lease | 1,212,708 | $ 231,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on lease modification | $ 8,229 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Parties [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | May 05, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,474 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 2% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parties increased the principal amount | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 44,314,286 | 157,142,857 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 141,000 | $ 831,922 | $ 8,837,284 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 29, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | Notwithstanding the preceding, holders of New Related Party Debentures and April 2023 Related Party Debenture shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | $ 550,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 141,000 | $ 412,092 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 58,200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering costs | $ 29,708 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default percent | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | $ 13,149,369 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Related Party Debentures [Member] | Convertible Debt Securities [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering price percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Related Party Debenture [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 155,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 7,231,894 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 29, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 14,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | Notwithstanding the preceding, holders of New Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default percent | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | 1,360,566 | $ 12,742,548 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative expense | 185,630 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Private Placement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease, discount rate | 8% | 8% | 8% | 8% | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease, discount rate | 15% | 15% | 15% | 15% | 15% | 15% | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | $ 0.00313 | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | shares | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Gunnar [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 95,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees payable | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 89,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | $ 141,000 | 2,192,488 | $ 21,986,653 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | $ 19,974,442 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Private Placement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 16,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 385,441,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares price | $ / shares | 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares price | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 120,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 990,048 | $ 990,048 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 464,992 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,768,379 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 4,860,255 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | 14,100 | 589,505 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,860,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | 66,630 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 375,000 | $ 120,000 | $ 375,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 375,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,110 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 275,000 | $ 125,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 275,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,683 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Demand Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 150,000 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 350,000 | $ 120,000 | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | shares | 2,608,654,988 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The New Related Party Warrants and April 2023 Related Party Warrant are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant and April 2023 Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the New Related Party Warrants and April 2023 Related Party Warrant within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreements [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | shares | 2,567,601,521 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreements [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Notes [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 589,505 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 669,992 | $ 1,046,167 | $ 4,860,255 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Notes [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 427,256 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Share Exchange Agreement [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 566,406,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 3,275,631 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 801,428,569 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | $ 255,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 2,095,288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 296,800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering costs | $ 157,912 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 242,736 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,949,909 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreement [Member] | Series C One Preferred Stock [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 902 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 372,303 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Exchange Agreement [Member] | Series C Two Preferred Stock [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 3,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 1,245,935 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 124,489,795 | 124,489,795 | 124,489,795 | 124,489,795 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement description | In connection with the Initial Closing of the private placement, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 28, 2024 | Apr. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,718 | $ 1,718 | $ 1,718 | $ 1,718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | $ 10,000 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 110,000 | $ 110,000 | 110,000 | 110,000 | 110,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | May and June 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 150,000 | $ 100,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 1% | 1% | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 150,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 1% | 1% | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Subsequent Offering [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities balance | 1,000,000 | $ 1,000,000 | $ 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,126 | 3,126 | 3,126 | 3,126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | $ 34,285 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 4,516 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 342,681 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | 376,966 | 376,966 | 376,966 | 376,966 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 33.30% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,689 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | First Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 4,878 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | Second Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | 5,026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | Third Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | 5,179 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | Fourth Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | 5,335 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Agreement [Member] | Fifth Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 5,495 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Lease Amendment [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rentable square feet | ft² | 4,734 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly rent, description | the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 984,200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | shares | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Convertible note [Member] | Demand Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 100,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | Apr. 01, 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | $ 0.00476 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,110 | 20,110 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 834,803 | 834,803 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 165,197 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 178,449 | $ 178,449 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,901 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase price | $ / shares | $ 0.20 | $ 0.20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | 110% | 110% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Notes [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 4,150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 120,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second November Two Thousnad And Twenty One Notes [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 34,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 69,417 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 430,583 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Exchanged Convertible Notes [Member] | Securities Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 2,675,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 173,375 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Related Party Debenture And New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | $ 2,192,488 | 41,961,095 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Related Party Debenture And New Debentures [Member] | Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 3,718,288 | 3,718,288 | 3,718,288 | 3,718,288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt,amount | $ 1,724,489 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Notes Payable [Member] | Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 1,000 | 1,000 | 1,000 | 1,000 | 1,689 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 33.30% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,937 | 1,937 | 1,937 | $ 1,937 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 957,192 | 957,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 42,808 | $ 42,808 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 109,289,616 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 984,200 | $ 984,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 957,192 | $ 957,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Securities Exchange Agreements [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Securities Purchase Agreement Second November Two Thousand Twenty One [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 10,504,202 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | 8% | 8% | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | Nov. 01, 2026 | May 12, 2026 | May 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00313 | $ 0.00313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 250,000 | $ 250,000 | $ 250,000 | 1,000,000 | 1,000,000 | $ 250,000 | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | 6,575 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 267,521 | 64,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 732,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 15,800 | $ 15,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 19,142 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | 110% | 110% | 110% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate increase decrease | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | First Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,334 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | Second Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | Third Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Convertible note [Member] | Securities Purchase Agreement June Two Thousand Twenty Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,173 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | $ 44,438 | $ 44,438 | $ 44,438 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 5,562 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 5,924 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 20% | 20% | 20% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate increase decrease | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Note One [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 334,000 | $ 334,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 333,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | Note Three [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 333,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investors [Member] | June Twenty Twenty Two Note [Member] | Securities Purchase Agreement June Two Thousand Twenty Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 15,710 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 120,808 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 304,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 10,504,202 | 10,504,202 | 4,201,681 | 18,251,367 | 18,251,367 | 17,857,144 | 10,504,202 | 10,504,202 | 10,504,202 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 18,196,722 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement [Member] | Warrant Three [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 18,196,722 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Securities Purchase Agreement June Two Thousand Twenty Two [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 335,593 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Investor [Member] | Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investor [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 38,775,510 | 38,775,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,959 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 72,081 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 427,919 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | 218,579,234 | 218,579,234 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | $ 34,620 | $ 34,620 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 498,428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investor [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 859,907 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes | the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes | the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 69,417 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Investors [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 140,093 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Matthew Schwartz [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 18,959 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 81,041 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 71,221 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 428,779 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion description | The Company shall not effect the conversion of any of the Second November 2021 Notes held by the Second November 2021 Investor, and the Second November 2021 Investor shall not have the right to convert any of the Second November 2021 Notes and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by written notice from the Second November 2021 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | 109,289,616 | 27,322,406 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 498,428 | $ 495,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 13,661,203 | 13,661,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 13,661,203 | 13,661,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Securities Purchase Agreement Second November Two Thousand Twenty One [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Note One [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 34,411 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 69,417 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 430,583 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate increase decrease | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | 110% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion description | The Company shall not effect the conversion of any of the Third November 2021 Notes held by the Third November 2021 Investor, and the Third November 2021 Investor shall not have the right to convert any of the Third November 2021 Notes and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by written notice from the Third November 2021 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 109,289,616 | 27,322,406 | 27,322,406 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | 500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 495,560 | $ 495,560 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 13,661,203 | 13,661,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 13,661,203 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Note One [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | July Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 953 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 43,337 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 6,663 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | July Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | July Investor [Member] | Securities Purchase Agreement [Member] | Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | July Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 7,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Placement Agent [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 16,393,443 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Accredited Investors [Member] | Securities Exchange Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 2,805,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Gunnar [Member] | Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 124,489,795 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | $ 305,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees payable | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments for Other Fees | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Jeffrey Busch [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 150,000 | $ 350,000 | $ 100,000 | $ 100,000 | 350,000 | 350,000 | 350,000 | $ 350,000 | 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 1% | 1% | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,091 | 5,091 | 5,091 | 5,091 | 2,474 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 250,000 | $ 100,000 | $ 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original amount | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingent conversion accrued interest | 4,219 | 4,219 | 4,219 | 4,219 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Jeffrey Busch [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 2% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Douglass T Mergenthaler [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 110,000 | 110,000 | 110,000 | 110,000 | 110,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,718 | $ 1,718 | $ 1,718 | $ 1,718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Douglass T Mergenthaler [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second And Third Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 34,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 430,583 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second And Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 109,289,616 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second And Third Investor [Member] | Convertible note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fourth Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,959 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 72,081 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 427,919 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate increase decrease | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion description | The Company shall not effect any conversion of the First January 2022 Note and the First January 2022 Investor shall not have the right to convert any amount of the First January 2022 Note and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by such First January 2022 Investor by written notice from the First January 2022 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fourth Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 498,428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fifth Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 71,221 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 428,779 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion description | The Company shall not effect the conversion of any of the Second January 2022 Note held by the Second January 2022 Investor, and the Second January 2022 Investor shall not have the right to convert any of the Second January 2022 Note and any such conversion shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, such restricted holder would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (which provision may be increased to a maximum of 9.9% by such Second January 2022 Investor by written notice from the Second January 2022 Investor to the Company, which notice shall be effective 61 calendar days after the date of such notice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fifth Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 498,428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Sixth Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 15,710 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 120,808 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 304,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 110% | 110% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Sixth Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Sixth Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 17,857,144 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Sixth Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 335,593 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Sixth Investor [Member] | Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Seven Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 953 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 43,337 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net of discount | 6,663 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Seven Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Seven Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 7,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Seven Investor [Member] | Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First Lessor [Member] | Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 379 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease description | months commencing in November 2018 through October 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | $ 16,065 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | months commencing in November 2018 through October 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Second Lessor [Member] | Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 1,439 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease description | months commencing in November 2018 through October 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | $ 62,394 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | months commencing in November 2018 through October 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Lessor [Member] | Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 1,496 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease description | months commencing in March 2019 through February 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | $ 64,940 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | months commencing in March 2019 through February 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fourth Lessor [Member] | Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease description | months commencing in August 2019 through July 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | $ 19,622 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | months commencing in August 2019 through July 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Fifth Lessor [Member] | Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly base rent | $ 1,395 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease description | months commencing in January 2020 through December 2025. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing lease payable | $ 68,821 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finance lease term | 60 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee operating lease description | months commencing in January 2020 through December 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amarantus Bio Science Holdings Inc [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions | shares | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Acquisitions | $ 40,980 |
Schedule of Related Parties Tra
Schedule of Related Parties Transaction (Details) - USD ($) | Jun. 30, 2023 | Apr. 11, 2023 | Jan. 27, 2023 | Dec. 31, 2022 | Nov. 29, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Related Party Transaction [Line Items] | ||||||||
Accrued liabilities - related parties | ||||||||
Accounts payable – related parties | ||||||||
Note payable principal – related parties | 39,435 | 51,657 | $ 254,487 | |||||
Related Party [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Accrued liabilities - related parties | ||||||||
Accounts payable – related parties | ||||||||
Theralink Technologies Inc [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Convertible notes principal – related parties | 9,130,292 | $ 4,150,000 | $ 1,000,000 | |||||
Discount on convertible notes - related parties | (3,820,629) | (1,844,186) | (935,019) | |||||
Outstanding principal balance | 8,986,605 | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | 2,475,000 | |||
Discount on notes - related parties | (39,769) | |||||||
Accrued liabilities - related parties | 268,021 | 71,077 | ||||||
Accounts payable – related parties | 730,923 | 1,018,797 | ||||||
Total | 6,651,457 | 2,748,964 | ||||||
Note payable principal – related parties | 1,000 | 1,000 | ||||||
Accrued liabilities - related parties | 76,927 | 18,000 | ||||||
Other receivable - related party | (21,711) | |||||||
Theralink Technologies Inc [Member] | Related Party [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Outstanding principal balance | 836,966 | 350,000 | ||||||
Accrued liabilities - related parties | 536,625 | 76,927 | 18,000 | |||||
Accounts payable – related parties | 7,972 | 16,223 | 3,714 | |||||
Total | 2,748,964 | 164,984 | ||||||
Note payable principal – related parties | $ 797,197 | $ 350,000 | $ 100,000 |
Schedule of Warrants (Details)
Schedule of Warrants (Details) - Warrant [Member] - Theralink Technologies Inc [Member] - USD ($) | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Number of Warrants, Outstanding Beginning balance | 1,888,813,005 | 984,470,116 | 856,674,588 |
Weighted Average Exercise Price, Outstanding Beginning balance | $ 0.003 | $ 0.0023 | $ 0.0020 |
Weighted Average Remaining Contractual Term (Years), Ending Balance Outstanding | 5 years 10 days | 3 years 3 months 3 days | |
Aggregate Intrinsic Value, Beginning Balance Outstanding | $ 1,140,362 | ||
Number of Warrants Issued in connection with a New Related Party Debentures (see Note 6) | 2,608,654,988 | ||
Weighted Average Exercise Price, Issued in connection with a New Related Party Debentures (see Note 6) | $ 0.003 | ||
Number of Warrants Issued in connection with a New Debentures (see Note 6) | 2,567,601,521 | ||
Weighted Average Exercise Price, Issued in connection with a New Debentures (see Note 6) | $ 0.003 | ||
Number of Warrants Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) | 179,265,305 | ||
Weighted Average Exercise Price,Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) | $ 0.003 | ||
Number of Warrants, Outstanding Ending balance | 7,244,334,819 | 1,888,813,005 | 984,470,116 |
Weighted Average Exercise Price, Outstanding Ending balance | $ 0.00169 | $ 0.003 | $ 0.0023 |
Aggregate Intrinsic Value, Ending Balance Outstanding | $ 8,393,613 | $ 1,140,362 | |
Number of Warrants, Exercisable | 7,244,334,819 | 1,684,611,324 | |
Weighted Average Exercise Price, Exercisable | $ 0.00169 | $ 0.0031 | |
Weighted Average Remaining Contractual Term (Years), Exercisable | 5 years 1 month 9 days | 3 years 3 months 21 days | |
Aggregate Intrinsic Value, Exercisable | $ 8,393,613 | $ 940,362 | |
Weighted Average Remaining Contractual Term (Years), Beginning Balance Outstanding | 3 years 6 months | 4 years 3 months 18 days | |
Number of Warrants, Issued in connection with a convertible debt - related party (see Note 6 and Note 8) | 321,543,374 | 63,897,764 | |
Weighted Average Exercise Price, Issued in connection with a convertible debt - related party (see Note 6 and Note 8) | $ 0.0038 | $ 0.0031 | |
Weighted Average Remaining Contractual Term (Years), Issued in connection with a convertible debt - related party (see Note 6 and Note 8) | 4 years 1 month 28 days | 4 years 7 months 6 days | |
Number of Warrants, Issued in connection with a Series F preferred stock - related party | 63,897,764 | ||
Weighted Average Exercise Price, Convertible debt | $ 0.0037 | $ 0.0031 | |
Number of Warrants, Issued in connection with a Convertible debt | 582,799,515 | ||
Weighted Average Remaining Contractual Term (Years), Convertible debt | 4 years 1 month 2 days | ||
Weighted Average Remaining Contractual Term (Years), Ending Balance Outstanding | 3 years 3 months 3 days | ||
Aggregate Intrinsic Value, Exercisable | $ 8,393,613 | $ 940,362 |
Schedule of Operating Right-o_2
Schedule of Operating Right-of-use Asset (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Balance of Operating ROU asset | $ 1,685,802 | $ 3,623,078 | $ 4,948,393 | ||
Theralink Technologies Inc [Member] | |||||
Operating office lease | $ 1,212,708 | $ 231,337 | |||
Less accumulated reduction | (95,539) | (57,847) | (62,673) | ||
Balance of Operating ROU asset | $ 1,117,169 | $ 1,154,861 | $ 168,664 |
Schedule of Effective Income Ta
Schedule of Effective Income Tax Rate (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Total provision for income taxes | ||||||||
Theralink Technologies Inc [Member] | ||||||||
Income tax benefit at U.S. statutory rate of 21% | $ (2,675,812) | $ (1,149,047) | ||||||
Income tax benefit – state | (589,953) | (253,337) | ||||||
Non-deductible expenses | 1,543,675 | (52,467) | ||||||
Change in valuation allowance | 1,722,090 | 1,454,851 | ||||||
Total provision for income taxes |
SCHEDULE OF EFFECTIVE INCOME _2
SCHEDULE OF EFFECTIVE INCOME TAX RATE (Details) (Parenthetical) | 12 Months Ended | |||
Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Percentage of statutory rate | 21% | 21% | ||
Theralink Technologies Inc [Member] | ||||
Percentage of statutory rate | 21% | 21% |
Schedule of Deferred Tax Asse_2
Schedule of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Total deferred tax asset | $ 12,585,086 | $ 8,309,766 | ||
Less: valuation allowance | (12,582,172) | (7,990,024) | ||
Total net deferred tax assets | ||||
Theralink Technologies Inc [Member] | ||||
Net operating loss carry-forwards | $ 12,967,136 | $ 11,245,046 | ||
Total deferred tax asset | 12,967,136 | 11,245,046 | ||
Less: valuation allowance | (12,967,136) | (11,245,046) | ||
Total net deferred tax assets |
Related-party Transactions (Det
Related-party Transactions (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||
May 05, 2023 | May 04, 2023 | Apr. 28, 2023 | Apr. 11, 2023 | Jan. 27, 2023 | Nov. 29, 2022 | May 09, 2022 | May 09, 2022 | May 05, 2022 | Mar. 24, 2022 | Jan. 26, 2022 | Nov. 01, 2021 | Nov. 01, 2021 | Oct. 21, 2021 | Jul. 30, 2021 | May 12, 2021 | May 12, 2021 | Apr. 26, 2021 | Jan. 02, 2021 | Jan. 01, 2021 | Jun. 30, 2023 | Jul. 30, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Nov. 01, 2022 | Sep. 02, 2022 | Aug. 11, 2022 | Jul. 29, 2022 | Jul. 06, 2022 | Jul. 05, 2022 | Jul. 02, 2022 | Jun. 15, 2022 | Jun. 10, 2022 | Apr. 05, 2022 | Sep. 24, 2020 | Sep. 22, 2020 | Sep. 15, 2020 | Jul. 02, 2020 | |
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Professional fees | ||||||||||||||||||||||||||||||||||||||||||||||
Expense reimbursements | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | ||||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | ||||||||||||||||||||||||||||||||||||||||||||||
Bad debt expense | $ 6,795 | $ 8,333,687 | ||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||
Common stock authorised | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | 30,000,000 | 60,000,000 | ||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 64,032 | $ 829,663 | $ 4,472,219 | $ 19,005,323 | ||||||||||||||||||||||||||||||||||||||||||
Related Party [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Expense reimbursements | ||||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Professional fees | 461,431 | $ 162,164 | 1,310,780 | $ 677,740 | $ 2,311,098 | $ 903,932 | ||||||||||||||||||||||||||||||||||||||||
Expense reimbursements | 730,923 | 1,018,797 | ||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 17,961,798 | $ 17,961,798 | $ 17,961,798 | 8,986,605 | 8,986,605 | 8,986,605 | 8,986,605 | 2,475,000 | ||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | 677,562 | 1,900,000 | 400,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 43,840 | $ 43,840 | $ 43,840 | 43,840 | $ 38,440 | 31,240 | ||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 1,888,813,005 | |||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 298,571,429 | 16,393,443 | ||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | 2,950,011 | 2,425,000 | $ 2,475,000 | |||||||||||||||||||||||||||||||||||||||||||
Bad debt expense | $ 10,172 | 39,426 | ||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 1,045,000 | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | $ 950,000 | |||||||||||||||||||||||||||||||||||||||||||||
Deferred Offering Costs | $ 27,270 | |||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 26,667 | 26,667 | 26,667 | 26,667 | 26,667 | ||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock authorised | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 12,000,000,000 | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 6,666,667 | 12,000,000,000 | |||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 1,350,000 | |||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 3,799,271 | $ 3,799,271 | $ 3,799,271 | $ 3,799,271 | 2,028,719 | |||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | IPO [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 157,142,857 | |||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 550,000 | |||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | $ 412,092 | |||||||||||||||||||||||||||||||||||||||||||||
Payments for Commissions | 58,200 | |||||||||||||||||||||||||||||||||||||||||||||
Deferred Offering Costs | $ 29,708 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 500 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 385,441,138 | |||||||||||||||||||||||||||||||||||||||||||||
Shares price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Warrant [Member] | Convertible Debt [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||
Shares price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 984,200 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Majority Shareholder [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Bad debt expense | 35,594 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 350,000 | 350,000 | 350,000 | 350,000 | 350,000 | |||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 1% | |||||||||||||||||||||||||||||||||||||||||||||
Debt instrument default interest rate | 2% | |||||||||||||||||||||||||||||||||||||||||||||
Maturity date | May 05, 2024 | |||||||||||||||||||||||||||||||||||||||||||||
Contingent conversion accrued interest | 4,219 | 4,219 | 4,219 | 4,219 | ||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,091 | 5,091 | 5,091 | 5,091 | 2,474 | |||||||||||||||||||||||||||||||||||||||||
Parties increased the principal amount | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 2% | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 28, 2024 | Apr. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,718 | 1,718 | 1,718 | 1,718 | ||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 110,000 | $ 110,000 | 110,000 | 110,000 | 110,000 | |||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 10,000 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds | $ 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date | May and June 2024 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | May Two Thousand Twenty One Securities Purchase Agreement [Member] | Investors [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First November Two Thousand Twenty One Securities Purchase Agreement [Member] | Investors [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Debt description | the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First November Two Thousand Twenty One Securities Purchase Agreement [Member] | Investors [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 218,579,234 | |||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 34,630 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First November Two Thousand Twenty One Securities Purchase Agreement [Member] | Investors [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | $ 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding | 54,644,811 | 54,644,811 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | First April Two Thousand Twenty Two Securities Purchase Agreement [Member] | Matthew Schwartz [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,901 | |||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 4,201,681 | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,901 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | May Two Thousand Twenty Two Securities Purchase Agreement [Member] | Investors [Member] | Four Convertible Notes [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,110 | |||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 42,016,808 | 42,016,808 | ||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Aggregate investment amount | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase price | 20% | |||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase price | $ 0.20 | $ 0.20 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | June Two Thousand Twenty Two Securities Purchase Agreement [Member] | Danica Holley [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,173 | |||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 375,000 | $ 120,000 | $ 375,000 | |||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,110 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 350,000 | $ 120,000 | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,148 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Note Agreement One [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 120,750 | |||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 15% | |||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 464,992 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | 33,315 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 15% | |||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 66,630 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Convertible note [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | 33,315 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Investors [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Investors [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Fair value | 957,192 | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | 42,808 | 42,808 | ||||||||||||||||||||||||||||||||||||||||||||
Debt discount | 957,192 | 957,192 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Investors [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 109,289,616 | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | $ 957,192 | $ 957,192 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Investors [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | 8% | 8% | 8% | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | Nov. 01, 2026 | May 12, 2026 | May 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | 6,575 | ||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 10,504,202 | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Debt discount | 732,479 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 19,142 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Investors [Member] | Convertible note [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | 63,897,764 | 63,897,764 | ||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Securities Purchase Agreement [Member] | Matthew Schwartz [Member] | Convertible note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 81,041 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Demand Promissory Notes [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 589,505 | |||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 10% | 10% | 10% | |||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 669,992 | $ 1,046,167 | $ 4,860,255 | |||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Third Closing Related Party Purchaser [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | $ 155,100 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||
Common stock authorised | 44,314,286 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 100% | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 141,000 | |||||||||||||||||||||||||||||||||||||||||||||
Debt discount | 14,100 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Subsequent Offering [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Securities balance | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,126 | 3,126 | 3,126 | 3,126 | ||||||||||||||||||||||||||||||||||||||||||
Outstanding principal | 376,966 | 376,966 | 376,966 | 376,966 | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 342,681 | |||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 34,285 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Related Party [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Expense reimbursements | 7,972 | 7,972 | 7,972 | 7,972 | $ 16,223 | 3,714 | ||||||||||||||||||||||||||||||||||||||||
Principal balance | 836,966 | 836,966 | 836,966 | 836,966 | 350,000 | |||||||||||||||||||||||||||||||||||||||||
Related party receivable | 0 | 0 | 0 | 0 | 0 | 21,711 | ||||||||||||||||||||||||||||||||||||||||
Debt discount | 39,769 | 39,769 | 39,769 | 39,769 | ||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Related Party [Member] | Majority Shareholder [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Advanced to related party | 13,883 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Jeffrey Busch [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 150,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 150,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 428 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Jeffrey Busch [Member] | Demand Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 275,000 | $ 125,000 | ||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,683 | |||||||||||||||||||||||||||||||||||||||||||||
Theralink Technologies Inc [Member] | Jeffrey Busch [Member] | Second Demand Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 150,000 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||
Mr Kucharchuk [Member] | Theralink Technologies Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Professional fees | $ 15,000 | $ 2,000 | ||||||||||||||||||||||||||||||||||||||||||||
Consulting fees | $ 2,000 | 0 | $ 18,000 | |||||||||||||||||||||||||||||||||||||||||||
Mr Kucharchuk [Member] | Theralink Technologies Inc [Member] | Related Party [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Expense reimbursements | $ 2,000 | $ 2,000 | $ 2,000 | $ 2,000 | $ 12,000 |