BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

SCHEDULE OF PURCHASE CONSIDERATION

TraQiQ, Inc. market capitalization at closing	$	27,162,222
Total purchase consideration	$	27,162,222

SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS ACQUIRED AND LIABILITIES ASSUMED AT THEIR PRELIMINARY ESTIMATED FAIR VALUES

The Company recorded all tangible and intangible assets and liabilities at their preliminary estimated fair values on the acquisition date. The Company is currently in the process of finalizing the estimated fair values with a third-party specialist. The following represents the allocation of the estimated purchase consideration:

	Preliminary
	Estimated
Description	Fair Value
Assets:
Cash	$	69,104
Accounts receivable		369,338
Prepaid expenses and other current assets		17,893
Inventory		416,046
Fixed assets		1,134
Intangible assets		10,681,477
Goodwill		22,319,908
	$	33,874,900
Liabilities:
Accounts payable and accrued expenses	$	(1,009,993	)
Customer deposits		(311,544	)
Accrued payroll and related taxes		(21,077	)
Derivative liability		(219,171	)
Convertible notes payable		(1,466,382	)
Convertible notes payable – related parties		(102,851	)
Notes payable		(3,579,160	)
Notes payable – related parties		(2,500	)
	$	(6,712,678	)
Net fair value of assets (liabilities)	$	27,162,222

SCHEDULE OF SUPPLEMENTAL PRO-FORMA FINANCIAL INFORMATION

The following supplemental pro-forma financial information approximate combined financial information assumes that the acquisition had occurred at the beginning of the year ended December 31, 2022:

	Nine Months Ended			Year Ended
	September 30,			December 31,
	2023			2022
Total revenue	$	5,936,731		$	4,204,694
Net loss	$	(122,348,055	)	$	(24,337,792	)
Pro forma loss per common share	$	(1.46	)	$	(5.52	)
Pro forma weighted average number of common shares basic and diluted		84,039,244			4,410,595