v3.25.3
BUSINESS COMBINATION (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
SCHEDULE OF FAIR VALUE OF CONSIDERATION TRANSFERRED ASSETS ACQUIRED LIABILITIES ASSUMED

 

Table 8: SLG Valuation

 

 

   Initial Allocation of Assets and Liabilities   Adjustments   Estimated Allocation of Assets and Liabilities as of September 30, 2025 
Cash consideration:               
Cash consideration  $2,000,000   $-   $2,000,000 
Less: cash acquired   (34,983)   -    (34,983)
Cash consideration, net of cash acquired   1,965,017    -    1,965,017 
Noncash consideration:        -      
Common stock (1)   254,071    250,071    504,142 
Series E Convertible Preferred Stock (2)   255,000    -    255,000 
Accounts receivable in Cycurion owing from SLG (3)   10,814,147    -    10,814,147 
Noncash consideration   11,323,218    250,071    11,573,289 
Total consideration  $13,288,235   $250,071   $13,538,306 
Assets acquired:               
Accounts receivable  $3,066,581   $-   $3,066,581 
Total identified assets acquired   3,066,581    -    3,066,581 
Liabilities assumed:               
Accounts payable   4,317,052    -    4,317,052 
Accrued liabilities   10,650    54,209    64,859 
Payroll liability   40,642    -    40,642 
Factoring liability   2,176,922    -    2,176,922 
Due to related parties   18,000    -    18,000 
Loans payable   625,222    -    625,222 
Liabilities to Cycurion   2,982,908    -    2,982,908 
Total identified liabilities assumed   10,171,396    54,209    10,225,605 
Net identifiable liabilities assumed   (7,104,815)   (54,209)   (7,159,024)
Elimination of inter-company balances   2,982,908    -    2,982,908 
Non-controlling interest   (3,464,218)   -    (3,464,218)
Goodwill   13,945,924    304,280    14,250,204 
Net assets acquired  $13,288,235   $250,071   $13,538,306 

 

  (1) Represents the fair value of 33,609 common stock issued in the SLG transaction based on the quoted stock price on the date of issuance.
  (2) Represents the fair value of the Series E Convertible Preferred Stock as is converted to common stock based on the quoted price common stock on the date of issuance.
  (3) Represents the fair value of the accounts receivable in Cycurion owing from SLG.
  (4) Fair value of the noncontrolling interest based on NCI’s 49% interest in the net assets acquired.
  (5) Goodwill is calculated as Total Consideration paid less the net assets acquired.
SCHEDULE OF LOAN PAYABLE AND ADVANCES

 

Table 11: Details of Loans Payable 

 

 

   September 30, 2025   December 31, 2024 
Loan payable  $405,314   $405,314 
Loan payable - SLG   264,379    - 
Economic injury disaster loan - Cycurion   150,000    150,000 
Economic injury disaster loan - SLG   157,220    - 
Private loan payable   203,623    - 
Funded loans payable   1,180,536    555,314 
Less: Unamortized debt-issuance costs and discounts   -    - 
Total loans payable   1,180,536    555,314 
Less: Current portion of long-term debt   885,240    408,516 
Long-term debt  $295,296   $146,798