DISCONTINUED OPERATIONS |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Discontinued Operations and Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DISCONTINUED OPERATIONS | NOTE 3: DISCONTINUED OPERATIONS
IXAYA
Effective April 1, 2024, the Company and Ixaya agreed to terminate the Ixaya SPA and continue working together on certain projects in a contractor role. In this agreement, Ixaya will keep the shares previously issued to them when they were acquired and the Company would deconsolidate Ixaya as of April 1, 2024. The operations of Ixaya for the year ended December 31, 2024 are reflected in discontinued operations.
The Company reclassified the following operations to discontinued operations for the year ended December 31, 2024.
The Company reflected the following loss on disposal for the year ended December 31, 2024 related to the deconsolidation of Ixaya:
HUMBL.com
Effective December 2, 2024, the Company entered into an Asset Purchase Agreement with TAP to sell their assets to TAP as discussed in Note 1. The Company received $3,037,500 in cash and debt cancellation and an investment in HoldCo in the amount of $17,000,000 for a total purchase price of $20,000,000. The operations of HUMBL.com, which includes the operations of the HUMBL Chile division for the years ended December 31, 2025 and 2024 are reflected in discontinued operations.
The Company reclassified the following operations to discontinued operations for the year ended December 31, 2025.
The Company reclassified the following operations to discontinued operations for the year ended December 31, 2024.
The Company reflected the following gain on disposal for the year ended December 31, 2025 related to the sale of HUMBL.com, which includes the ownership of HoldCo (the entire gain on disposal occurred in the three months ended March 31, 2025):
The following represents the assets and liabilities of discontinued operations as of December 31, 2024:
Current assets as of December 31, 2024 – Discontinued Operations:
Non-current assets as of December 31, 2024 – Discontinued Operations:
Current liabilities as of December 31, 2024 – Discontinued Operations:
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