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RESTATEMENT (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]  
SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS

Per ASC 250-10 Accounting Changes and Error Corrections, the December 31, 2022 balance sheet and statement of operations have been restated for the following.

 

 

    1    2    3 
December 31, 2022
   As Reported   Adjusted   As Restated 
ASSETS            
Current Assets:               
Cash  $374,091   $—   $374,091 
Draws against commissions   212,323    (37,220)   175,103 
Loan receivable   12,500    —    12,500 
Due from related parties   510,468    (27,918)   482,550 
Total Current Assets   1,109,382    (65,138)   1,044,244 
Property and equipment, net   41,872    —    41,872 
Related party loan   155,000    (155,000)   — 
Total Current Assets  $1,306,254   $(220,138)  $1,086,116 
                
LIABILITIES AND STOCKHOLDERS’ DEFICIT               
                
Current Liabilities:               
Accounts payable and accruals  $82,131   $(37,345)  $44,786 
Loan payable   147,707    (140,117)   7,590 
Loan payable – related party   —    40,000    40,000 
Total Current Liabilities   229,838    (137,462)   92,376 
Loan payable, net of current portion   —    140,117    140,117 
Total Liabilities   229,838    2,655    232,493 
                
Stockholders’ Deficit:               
Common stock   —    101(1)   101 
Additional paid-in capital   616,306    (189,806)   426,500 
Accumulated deficit   460,110    (33,088)   427,022 
Total Stockholders’ Deficit   1,079,416    (222,793)   853,623 
                
Total Liabilities and Stockholders’ Deficit  $1,306,254   $(220,138)  $1,086,116 

 

  (1) Specifically related to reverse acquisition accounting.

 

    1    2    3 
Year Ended December 31, 2022
   As Reported   Adjusted   As Restated 
Revenue  $3,321,837   $—   $3,321,837 
Commission expense   (1,717,786)   466,866    (1,250,920)
Commission expense – related party   —    (495,625)   (495,625)
Gross margin   1,604,051    (28,759)   1,575,292 
                
Operating expenses:               
Professional fees   —    38,123    38,123 
Payroll expense   —    244,104    244,104 
General and administrative   706,775    (277,900)   428,875 
Total operating expenses   706,775    4,327    711,102 
                
Income from operations   897,276    33,086    864,190 
                
Net Income  $897,276   $33,086   $864,190