| SCHEDULE OF INTANGIBLE ASSETS AND GOODWILL |
Intangible
assets, net consists of the following:
SCHEDULE
OF INTANGIBLE ASSETS AND GOODWILL
| |
|
March 31, 2024 |
|
| |
|
Gross |
|
|
Accumulated |
|
|
|
|
| |
|
Carrying Amount |
|
|
Amortization |
|
|
Net |
|
| Trade names and trademarks |
|
|
27,098,319 |
|
|
|
2,384,097 |
|
|
|
24,714,222 |
|
| Customer relationships |
|
|
6,915,000 |
|
|
|
956,380 |
|
|
|
5,958,620 |
|
| Formulas (indefinite life) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Domain names |
|
|
25,750 |
|
|
|
11,159 |
|
|
|
14,591 |
|
| Intangible Assets |
|
$ |
34,039,069 |
|
|
$ |
3,351,636 |
|
|
$ |
30,687,433 |
|
| |
|
December 31, 2023 |
|
| |
|
Gross |
|
|
Accumulated |
|
|
|
|
| |
|
Carrying Amount |
|
|
Amortization |
|
|
Net |
|
| Trade names and trademarks |
|
|
26,937,670 |
|
|
|
1,885,389 |
|
|
|
25,052,281 |
|
| Customer relationships |
|
|
7,049,000 |
|
|
|
753,914 |
|
|
|
6,295,086 |
|
| Formulas (indefinite life) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Domain names |
|
|
25,750 |
|
|
|
10,729 |
|
|
|
15,021 |
|
| Intangible Assets |
|
$ |
34,012,420 |
|
|
$ |
2,650,032 |
|
|
$ |
31,362,388 |
|
|
| SCHEDULE OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS |
As
of March 31, 2024, future expected amortization expense of intangible assets was as follows:
SCHEDULE
OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS
| |
|
|
|
| Fiscal period: |
|
March 31, 2024 |
|
| Remainder of 2024 |
|
$ |
2,116,429 |
|
| 2025 |
|
|
2,818,033 |
|
| 2026 |
|
|
2,818,033 |
|
| 2027 |
|
|
2,818,033 |
|
| 2028 |
|
|
2,818,033 |
|
| Thereafter |
|
|
17,298,872 |
|
| Total amortization remaining |
|
$ |
30,687,433 |
|
|