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Merger with Submersible Systems, Inc. (Tables)
12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Summary of Holding Period and Shares Eligible to be Sold

 

Holding Period from Closing Date   Percentage of shares
eligible to be sold or transferred
 
6 months   Up to 12.5% 
9 months   Up to 25.0% 
24 months   Up to 75.0% 
36 months   Up to 100.0% 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair value of the consideration paid, identifiable assets acquired, and liabilities assumed including an amount for goodwill:

 

      
  $ 
Common stock, 27,305,442 shares at fair market value  $1,449,919 
8% Unsecured, Convertible promissory note payable to seller   350,000 
Total purchase price  $1,799,919 
      
Tangible assets acquired  $1,101,604 
Liabilities assumed   (294,671)
Net tangible assets acquired   806,933 
      
Identified Intangible Assets     
Customer Relationships  $600,000 
Trademarks   121,000 
Non-compete agreements   22,000 
Total Intangible Assets   743,000 
      
Goodwill  $249,986 
      
Total purchase price  $1,799,919 
Schedule of Business Acquisition, Pro Forma Information

The following is the unaudited pro forma information assuming all business acquisitions occurred on January 1, 2021. For all of the business acquisitions depreciation and amortization have been included in the calculation of the below pro forma information based upon the actual acquisition costs.

 

   Year ended December 31, 2021 
Revenue  $7,259,384 
Net Loss  $(1,560,900)
Basic and Diluted Loss per Share  $(0.00)
Basic and Diluted Weighted Average Common Shares Outstanding   368,144,534