v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
 CASH FLOWS FROM OPERATING ACTIVITIES:    
 Net loss $ (9,121,376) $ (7,821,162)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on sale of investments 1,917 17,157
Provision for credit losses 4,019,840 5,561,517
Common stock issued for services 81,250 1,279,170
Finance charges for extension of promissory note 40,625 600,000
Operating lease ROU asset amortization (37,262) 68,507
Amortization of stock subscription receivable 1,250,004
Depreciation and amortization expense 266,364 44,643
Gain on sale of assets (4,230)
Interest expense on deferred consideration 96,424
Foreign exchange loss 38,760
Changes in assets and liabilities    
Advances receivable, net (3,280,417) (4,716,726)
Due from related party (40,548) 939,241
Other current assets 16,846 43,753
Accounts payable and accrued liabilities 792,881 63,068
Syndicate payable 211,814 3,627,960
Operating lease obligation 31,792 (64,514)
Due to related party 1,477,563 119,297
Other non-current liabilities (45,400) (14,299)
NET CASH USED IN OPERATING ACTIVITIES (4,203,154) (252,388)
INVESTING ACTIVITIES:    
Purchase of property and equipment (52,992) (40,189)
Sale of property and equipment 11,596
Cash paid for Simplified Companies acquisition (400,000)
Payment of deferred consideration (230,000)
NET CASH USED IN INVESTING ACTIVITIES (671,395) (40,189)
FINANCING ACTIVITIES:    
Proceeds from preferred stock issuance 2,150,000 7,105,000
Cash paid in common control transaction (4,500,000)
Payments made against promissory note -related party (1,500,000)
Payments made against notes payable related party (3,100,000) (2,562,000)
Proceeds from notes payable-related party 7,175,000 1,366,000
Proceeds from notes payable 875,402
Payments made against notes payable (115,230)
Retained earnings distribution (1,184,982)
Issuance of common stock 1,792,400
NET CASH PROVIDED BY FINANCING ACTIVITIES 6,517,400 984,190
NET CHANGE IN CASH 1,642,772 691,613
Effect of exchange rate changes on cash (38,760)
CASH – BEGINNING OF PERIOD 1,147,295 455,682
CASH – END OF PERIOD 2,751,386 1,147,295
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:    
Cash paid for interest 4,407,854 3,349,561
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Conversion of series C preferred stock 2,500
Common stock issued in common control acquisition 5,000,000
Issuance of note payable in common control acquisition 4,700,000
Issuance of common stock for promissory note extension 150,000 600,000
Issuance of common stock Simplified Companies acquisition 250,000
Deferred equity for Simplified Companies acquisition 740,000
Deferred commission for Simplified Companies acquisition 692,469
Stock issued for serving on advisory board $ 1,250,004