EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES

NOTE 14 - EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES

The Company applies the equity method to investments when it has an ability to exercise significant influence over the operational decision-making authority and financial policies of the investee.

During the year ended December 31, 2022, the Company accounted for its 26% investments in CrossMobile as equity method investment from July 13, 2022 until October 25, 2022, the day the Company increased its holdings in CrossMobile to 51% and began consolidating its financial statements.

During the Year ended December 31, 2023, the Company accounted for its 26% investments in InstaView as equity method investment from January 26, 2023.

The following tables summarize the carrying amounts, including changes therein, of our equity method investment in CrossMobile and InstaView during the years ended December 31, 2023 and 2022:

	CrossMobile
Opening balance as of January 1, 2022	$	-
Initial investment- 10,000,000,000 common shares		4,000,000
Equity in net loss of CrossMobile		(20,594	)
Balance as of October 25, 2022 – date of consolidation	$	3,979,406

	InstaView
Opening balance as of January 1, 2023	$	-
Equity investment		91,917
Other comprehensive loss		(1,007	)
Equity loss		(1,977	)
Investments under equity method.		88,933
Purchased Option		62,082
Investment in investee as of December 31, 2023	$	151,015
Impairment of investment		(151,015	)
Investment in investee as of December 31, 2023		-

WORLD HEALTH ENERGY HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars except share and per share data)