| SCHEDULE OF INTANGIBLE ASSETS AND GOODWILL |
Intangible
assets, net consists of the following:
SCHEDULE
OF INTANGIBLE ASSETS AND GOODWILL
| |
|
December
31, 2024 |
|
| |
|
Gross |
|
|
|
|
|
|
|
| |
|
Carrying |
|
|
Accumulated |
|
|
|
|
| |
|
Amount |
|
|
Amortization |
|
|
Net |
|
| Trade
names |
|
$ |
27,200,404 |
|
|
$ |
3,905,777 |
|
|
$ |
23,294,627 |
|
| Customer
relationships |
|
|
6,915,000 |
|
|
|
1,563,780 |
|
|
|
5,351,220 |
|
| Intangible
Assets |
|
$ |
34,115,404 |
|
|
$ |
5,469,557 |
|
|
$ |
28,645,847 |
|
For the year ended December 31,
2024, the Company incurred a net intangibles impairment loss of $13,304 pertaining to domain names for the AOS component of the Starco
Brands segment.
| |
|
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 |
|
|
| SCHEDULE OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS |
As
of December 31, 2024, the expected future amortization expense of intangible assets was as follows:
SCHEDULE
OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS
| Fiscal
Period: |
|
|
|
| 2025 |
|
$ |
2,824,750 |
|
| 2026 |
|
|
2,824,750 |
|
| 2027 |
|
|
2,824,750 |
|
| 2028 |
|
|
2,824,750 |
|
| 2029 |
|
|
2,824,750 |
|
| Thereafter |
|
|
14,522,097 |
|
| Total
|
|
$ |
28,645,847 |
|
|