SCHEDULE OF INTANGIBLE ASSETS |
Intangible
assets consist of the following:
SCHEDULE OF INTANGIBLE ASSETS
| |
| | | |
| | | |
|
| |
| | |
| | |
Amortization |
| |
June
30, | | |
December
31, | | |
Period |
| |
2022 | | |
2021 | | |
(in
Years) |
Amortized
intangible assets: | |
| | | |
| | | |
|
Customer
relationships | |
$ | 150,000 | | |
$ | 150,000 | | |
6
- 10 |
Proprietary
technology | |
| 280,000 | | |
| 280,000 | | |
10 |
Tradename
and brand | |
| 1,050,000 | | |
| 1,050,000 | | |
5
- 10 |
Marketing
related | |
| 380,000 | | |
| 380,000 | | |
5 |
Patents | |
| 361,284 | | |
| 361,284 | | |
6
- 20 |
Noncompete | |
| 50,000 | | |
| 50,000 | | |
5 |
| |
| | | |
| | | |
|
Total | |
| 2,271,284 | | |
| 2,271,284 | | |
|
Accumulated
amortization | |
| (1,244,110 | ) | |
| (1,071,486 | ) | |
|
| |
| | | |
| | | |
|
Intangible
assets, net | |
| 1,027,174 | | |
| 1,199,798 | | |
|
Indefinite-lived
intangible assets: | |
| | | |
| | | |
|
Trademarks | |
| 9,072 | | |
| 9,072 | | |
|
| |
| | | |
| | | |
|
Total
intangible assets | |
$ | 1,036,246 | | |
$ | 1,208,870 | | |
|
|
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE |
Estimated
future amortization expense for finite-lived intangible assets is as follows:
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE
| |
Amount | |
| |
| |
Remaining
in 2022 | |
$ | 172,625 | |
2023 | |
| 338,638 | |
2024 | |
| 239,411 | |
2025 | |
| 90,550 | |
2026 | |
| 71,232 | |
Thereafter | |
| 114,718 | |
| |
| | |
Total | |
$ | 1,027,174 | |
|