| INTANGIBLE ASSETS AND GOODWILL |
NOTE
13 – INTANGIBLE ASSETS AND GOODWILL
Intangible
assets, net consists of the following:
SCHEDULE
OF INTANGIBLE ASSETS AND GOODWILL
| |
|
December
31, 2022 |
|
| |
|
Gross |
|
|
|
|
|
|
|
| |
|
Carrying |
|
|
Accumulated |
|
|
|
|
| |
|
Amount |
|
|
Amortization |
|
|
Net |
|
| Formulas |
|
$ |
135,000 |
|
|
$ |
- |
|
|
$ |
135,000 |
|
| Domain names |
|
|
44,002 |
|
|
|
599 |
|
|
|
43,403 |
|
| Trademark |
|
|
20,000 |
|
|
|
- |
|
|
|
20,000 |
|
| Intangible Assets |
|
$ |
199,002 |
|
|
$ |
599
|
|
|
$ |
198,403 |
|
| |
|
December
31, 2021 |
|
| |
|
Gross |
|
|
|
|
|
|
|
| |
|
Carrying |
|
|
Accumulated |
|
|
|
|
| |
|
Amount |
|
|
Amortization |
|
|
Net |
|
| Trademark |
|
$ |
20,000 |
|
|
$ |
- |
|
|
$ |
20,000 |
|
| Intangible Assets |
|
$ |
- |
|
|
$ |
-
|
|
|
$ |
20,000 |
|
As
of December 31, 2022, future expected amortization expense of Intangible assets was as follows:
SCHEDULE
OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS
| 2023 |
|
$ |
6,717 |
|
|
Fiscal
Period:
|
|
|
|
| 2023 |
|
$ |
6,717 |
|
| 2024 |
|
|
6,717 |
|
| 2025 |
|
|
6,717 |
|
| 2026 |
|
|
6,717 |
|
| 2027 |
|
|
6,717 |
|
| Thereafter |
|
|
9,818 |
|
| Total amortization remaining |
|
$ |
43,403 |
|
The
changes in the carrying amounts of goodwill during the year ended December 31, 2022 were as follows.
SCHEDULE
OF GOODWILL
| Balance at December 31, 2021 |
|
$ |
- |
|
| Acquisition of AOS |
|
|
12,089,871
|
|
| Acquisition of Skylar |
|
|
20,746,692 |
|
| Measurement period
adjustments |
|
|
- |
|
| Balance at December 31, 2022 |
|
$ |
32,836,563 |
|
As
of December 31, 2022, $12,089,871 of goodwill recognized is allocated to the STCB segment and $20,746,692
of goodwill recognized is allocated to the Skylar segment.
|