Business Combination (Tables)

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Unaudited Pro Forma Results of Operations

	Unaudited Pro Forma combined financials PBI and UB						Unaudited Pro Forma combined financials for PBI and UB
	For the Three Months ended June 30,						For the Six Months ended June 30,
	2024			2023			2024			2023
Sales	$	421,792		$	1,032,066		$	783,865		$	2,290,431
Cost of goods sold	$	377,541		$	549,821		$	628,751		$	1,237,397
Operating expenses	$	1,972,791		$	1,586,071		$	3,618,427		$	5,860,780
Loss from operations	$	(1,928,540	)	$	(1,103,826	)	$	(3,463,313	)	$	(4,807,746	)
Loss per share	$	(0.04	)	$	(0.06	)	$	(0.08	)	$	(0.27	)

Schedule of Acquisition

The purchase price was as follows:

Fair value of options issued to sellers of UB and finders (1)	$	2,210,060
Preferred shares DD issued	$	1,066,800
Cost of acquisition:
Fair value of options issued to finders (1) (2)	$	(210,060	)
Total consideration paid	$	3,066,800

Notes

(1) Options owed as of March 31, 2024, were issued as of June 30, 2024. The Company recognized the option fair value as a liability “Options Payable” as of March 31, 2024, for a total of $2,210,060 and recorded the additional paid in capital as of June 30, 2024. In computing fair value, a Black Scholes computation was performed with the following variables:

a. For options issued to the sellers of UB, valued at $2,000,000

i.	Expected time to maturity = 5 years
ii.	Annual risk-free rate = 4.08%
iii.	Annualized volatility = 118%

b. For options issued as investment banker fees, valued at $210,060

i.	Expected time to maturity = 2.5 years
ii.	Annual risk-free rate = 4.18%
iii.	Annualized volatility = 103%

(2) This amount was expensed in the statement of operations.

Schedule of Estimated Fair Value Of Assets And Liabilities Acquired

Upon analysis of Uncle Bud’s business combination, the Company has estimated the fair value of the assets and liabilities acquired as follows:

	Estimate of Fair Value
Assets Acquired
Accounts Receivable	$	5,123
Inventory		350,922
Customer list		664,237
Goodwill		4,727,976
Intangible assets		1,516
Total assets	$	5,749,774
Liabilities Assumed
Accounts payable	$	1,344,254
Accrued liabilities		522,145
Other current liabilities		14,360
Term loan liabilities		68,000
Line of credit		734,215
Total liabilities assumed		2,682,974
Total	$	3,066,800