CONVERTIBLE NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2023

Convertible Notes Payable

Schedule of convertible notes payable

	Conversion price per share	Interest rate	Due date	December 31, 2023			December 31, 2022
Convertible promissory note	$4.00	4%	May 10, 2024	$	-		$	660,000
Convertible promissory note – original issue discount (“OID”) only	90% of 5-day VWAP	OID Only	September 28, 2024		1,673,000			-
AVLP convertible promissory notes, principal	$0.35 (AVLP stock)	7%	August 22, 2025		9,911,000			9,911,000
GIGA senior secured convertible notes - in default	$0.25 (GIGA stock)	18%	October 11, 2024		4,388,000			-
ROI senior secured convertible note	$0.11 (ROI stock)	OID Only	April 27, 2024		6,513,000			-
Fair value of embedded conversion options					910,000			2,316,000
Total convertible notes payable					23,395,000			12,887,000
Less: unamortized debt discounts					(2,179,000	)		(111,000	)
Total convertible notes payable, net of financing cost, long term				$	21,216,000		$	12,776,000
Less: current portion					(11,763,000	)		(1,325,000	)
Convertible notes payable, net of financing cost – long-term portion				$	9,453,000		$	11,451,000

Schedule of contractual maturities

Year	Principal
2024	$	12,574,000
2025		10,821,000
	$	23,395,000

Schedule of weighted average assumptions

	December 31, 2023		December 31, 2022		At Inception
Contractual term in years		0.3		2.7		1.0
Volatility		138%		82%		111%
Dividend yield		0%		0%		0%
Risk-free interest rate		3.8%		4.0%		3.5%

Schedule of derivative liabilities

	For the Year Ended
	December 31,
	2023			2022
Beginning balance	$	2,316,000		$	-
Fair value of embedded conversion options issued or acquired		1,652,000			5,851,000
Change in fair value		(3,058,000	)		(3,535,000	)
Ending balance	$	910,000		$	2,316,000

Schedule of convertible notes payable

	For the Year Ended
	December 31,
	2023			2022
Beginning balance	$	10,571,000		$	660,000
Convertible notes from acquisitions		-			9,911,000
Issuance of convertible notes		12,441,000			-
Transfer out of level 3		(527,000	)		-
Ending balance	$	22,485,000		$	10,571,000