Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.23.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of Non-Trade Receivables
The following table summarizes the changes in non-trade accounts receivable related to the fraudulent wire transactions for the years ended December 31, 2022 and 2021:

For the Years Ended
December 31,
2022 2021
Beginning fraudulent wire receivable $ 5,103,132  $ — 
Additions —  5,103,132 
Payments received (1,752,556) — 
Impairment recorded upon settlement (950,576) — 
Ending fraudulent wire receivable $ 2,400,000  $ 5,103,132 
Schedule of Property and Equipment Useful Lives
The estimated useful lives for significant property and equipment categories are as follows:
Computer and technology equipment 3 years
Furniture and equipment 5 years
Leasehold improvements Lease term
Vehicles 3 years
Other equipment
3 or 5 years
Software 3 years
Property Plant and Equipment balances are summarized as follows:
As of December 31,
2022 2021
Computers and technology equipment $ 232,405  $ 106,825 
Furniture and fixtures 234,389  110,006 
Leasehold improvements 306,719  164,072 
Vehicles 456,797  20,000 
Software 685,580  229,621 
Other equipment 58,525  36,548 
Accumulated depreciation (667,269) (459,576)
Total property plant and equipment, net $ 1,307,146  $ 207,496