| 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, 2023 |
|
| |
|
Gross |
|
|
|
|
|
|
|
| |
|
Carrying |
|
|
Accumulated |
|
|
|
|
| |
|
Amount |
|
|
Amortization |
|
|
Net |
|
| Trade names |
|
$ |
26,937,670 |
|
|
$ |
1,885,389 |
|
|
$ |
25,052,281 |
|
| Customer relationships |
|
|
7,049,000 |
|
|
|
753,914 |
|
|
|
6,295,086 |
|
| Domain names |
|
|
25,750 |
|
|
|
10,730 |
|
|
|
15,021 |
|
| Intangible Assets |
|
$ |
34,012,420 |
|
|
$ |
2,650,032 |
|
|
$ |
31,362,388 |
|
| |
|
December 31, 2022 |
|
| |
|
Gross |
|
|
|
|
|
|
|
| |
|
Carrying |
|
|
Accumulated |
|
|
|
|
| |
|
Amount |
|
|
Amortization |
|
|
Net |
|
| Formulas |
|
$ |
135,000 |
|
|
$ |
- |
|
|
$ |
135,000 |
|
| Domain names |
|
|
44,002 |
|
|
|
599 |
|
|
|
43,403 |
|
| Trade names |
|
|
20,000 |
|
|
|
- |
|
|
|
20,000 |
|
| Intangible Assets |
|
$ |
199,002 |
|
|
$ |
599 |
|
|
$ |
198,403 |
|
As
of December 31, 2023, future expected amortization expense of Intangible assets was as follows:
SCHEDULE
OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS
| Fiscal Period: |
|
|
|
| 2024 |
|
$ |
2,804,669 |
|
| 2025 |
|
|
2,804,669 |
|
| 2026 |
|
|
2,804,669 |
|
| 2027 |
|
|
2,804,669 |
|
| 2028 |
|
|
2,804,669 |
|
| Thereafter |
|
|
17,338,891 |
|
| Total amortization remaining |
|
$ |
31,362,388 |
|
|