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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (47,446,060) $ (100,080)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 848,933 140,765
Amortization of debt issuance costs 6,217,053
Impairments of long-lived assets 1,300,000
Loss on issuance of warrants 25,318,519
Share-based compensation 1,504,500
Provision for bad debts 608,356
Gain on sale (475,418)
Changes in assets and liabilities, net of acquisition:    
Accounts receivable (443,312) (30,874)
Inventories 3,541,152 3,534
Prepaid expenses and other current assets 5,462,405 (7,074,484)
Accounts payable (25,775) 132,667
Accrued expenses and other current liabilities (13,605,160) 206,751
Customer deposits 6,999,980
Net cash provided by (used in) operating activities (16,719,389) (197,159)
Cash flows from investing activities:    
Purchases of property and equipment (105,703) (514,151)
Purchase of license agreement (158,594)
Cash from acquisition of Forever 8 Fund, LLC 732,716
Proceeds from sale of land and building 808,395
Loan held for investment (4,000,000)
Net cash provided by investing activities 468,419 (3,705,756)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 11,529,152
Net borrowings under convertible notes 7,000,000
Repurchase of common stock from shareholders upon distribution (49,455)
Due to (from) Former Parent 3,028,154 5,020,174
Fees paid to placement agent (560,000)
Repayments under lines of credit (367,976)
Repayments under notes payable (27,644) (14,848)
Net cash provided by (used in) financing activities 20,920,207 4,637,350
Net increase in cash and cash equivalents and restricted cash 4,669,237 734,435
Cash and cash equivalents and restricted cash, beginning of the year 911,194 176,759
Cash and cash equivalents and restricted cash, end of the year 5,580,431 911,194
Supplemental disclosure of cash flow information:    
Cash paid for interest 203 47,688
Cash paid for income taxes
Right of use assets 98,736
Operating lease liabilities 98,736
Issuance of warrants to noteholders and placement agent 3,905,458
Original issue discount 3,333,333
Accrued placement agent fees for equity placement 480,000
Purchase of property, plant and equipment through settlement of portion of loan held-for-investment 1,775,748
Fair value of preferred units of Forever 8 Fund, LLC issued in the acquisition reflected as additional paid in capital 7,300,000
Convertible shares under notes payable – related party 24,500,000
Accrual for contingent consideration for acquisition of Forever 8 Fund, LLC 6,100,000
Issuance of common stock upon the distribution from Vinco Ventures, Inc. $ 18,805