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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such fair values:

 

   Fair Value Measurements 
   as of December 31, 2023 Using: 
   Level 1   Level 2   Level 3   Total 
Liabilities:                     
Contingent consideration                
   $   $   $   $ 

 

   Fair Value Measurements 
   as of December 31, 2022 Using: 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Contingent consideration           12,098,475    12,098,475 
   $   $   $12,098,475   $12,098,475 
SCHEDULE OF CHANGES IN ACQUISITION-RELATED CONTINGENT CONSIDERATION

   Contingent 
   Consideration 
   Liability 
Balance as of December 31, 2022  $12,098,475 
Norwest Waiver - settlement of Bailey44 contingent consideration   (10,698,475)
H&J Settlement Agreement - settlement of H&J contingent consideration   (1,400,000)
Outstanding as of December 31, 2023  $ 
SCHEDULE OF CONTINGENT CONSIDERATION

 

   December 31, 
   2023   2022 
Bailey  $    10,698,475 
Harper & Jones       1,400,000 
   $   $12,098,475 
SCHEDULE OF CHANGES IN DERIVATIVE LIABILITY

 

   Derivative 
   Liability 
Outstanding as of December 31, 2021  $2,294,720 
Initial fair value on issuance of convertible note   559,957 
Conversion of underlying notes into common stock   (1,500,243)
Change in fair value   (1,354,434)
Outstanding as of December 31, 2022    
Initial fair value on issuance of convertible note    
Change in fair value    
Outstanding as of December 31, 2023  $ 
SCHEDULE OF INVENTORY

Inventory consisted of the following:

 

   2023   2022 
   December 31, 
   2023   2022 
Raw materials  $695,580   $1,611,134 
Work in process   585,387    888,643 
Finished goods   3,568,633    2,622,787 
Inventory  $4,849,600   $5,122,564 
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS ACQUIRED AS PART OF BUSINESS COMBINATION

Intangible assets are established with business combinations and consist of brand names and customer relationships. Intangible assets with finite lives are recorded at their estimated fair value at the date of acquisition and are amortized over their estimated useful lives using the straight- line method. The estimated useful lives of amortizable intangible assets are as follows:

 

Customer relationships  3 years
SCHEDULE OF GOODWILL AND INTANGIBLE IMPAIRMENT

The following is a summary of goodwill and intangible impairment recorded pertaining to each entity:

 

   Year Ended December 31, 
   2023   2022 
Bailey brand name  $   $2,182,000 
Harper & Jones brand name       1,485,000 
Total impairment of intangibles       3,667,000 
Bailey goodwill       3,321,095 
Harper & Jones goodwill       8,551,237 
Total impairment of goodwill       11,872,332 
Total impairment  $   $15,539,332 
SCHEDULE OF POTENTIALLY DILUTIVE ITEMS OUTSTANDING

 

   December 31, 
   2023   2022 
Convertible notes       37,915 
Series A convertible preferred stock   27,097    4,320 
Series C convertible preferred stock   267,001     
Common stock warrants   1,180,220    176,733 
Stock options   1,558    1,558 
Total potentially dilutive shares   1,475,876    220,526