| SUMMARY OF INTANGIBLE ASSETS |
The
following is a summary of intangible assets as of June 30, 2025:
SUMMARY OF INTANGIBLE ASSETS
| | |
Licensing
Agreements
(Finite) | | |
Software
(Finite) | | |
Distribution
Contracts
(Finite) | | |
Trade
Names
(Indefinite) | | |
Non-
Compete
Agreements
(Finite) | | |
Accumulated
Amortization | | |
Total | |
| Balance as of January 1, 2025 | |
$ | 2,381,743 | | |
$ | 7,976,068 | | |
$ | 560,000 | | |
$ | 201,969 | | |
$ | 170,222 | | |
$ | (7,924,704 | ) | |
$ | 3,365,298 | |
| Amortization expense | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (476,169 | ) | |
| (476,169 | ) |
| Additions | |
| - | | |
| 370,000 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 370,000 | |
| Foreign currency translation adjustments | |
| 19,939 | | |
| 139,868 | | |
| - | | |
| 21,225 | | |
| 10,044 | | |
| (119,207 | ) | |
| 71,869 | |
| Balance as of June 30, 2025 | |
$ | 2,401,682 | | |
$ | 8,485,936 | | |
$ | 560,000 | | |
$ | 223,194 | | |
$ | 180,266 | | |
$ | (8,520,080 | ) | |
$ | 3,330,998 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average remaining amortization period at June 30, 2025 | |
| 15.7 | | |
| 5.5 | | |
| - | | |
| | | |
| - | | |
| | | |
| | |
|
| SCHEDULE OF ACCUMULATED AMORTIZATION OF INTANGIBLE ASSETS |
Accumulated
amortization of intangible assets consists of the following:
SCHEDULE OF ACCUMULATED AMORTIZATION OF INTANGIBLE ASSETS
| | |
Licensing
Agreements
(Finite) | | |
Software
Licenses
(Finite) | | |
Distribution
Contracts
(Finite) | | |
Non-
Compete
Agreements
(Finite) | | |
Accumulated
Amortization | |
| Balance as of January 1, 2025 | |
$ | 1,201,282 | | |
$ | 5,993,200 | | |
$ | 560,000 | | |
$ | 170,222 | | |
$ | 7,924,704 | |
| Amortization expense | |
| 38,673 | | |
| 437,496 | | |
| - | | |
| - | | |
| 476,169 | |
| Foreign currency translation adjustment | |
| - | | |
| 109,163 | | |
| - | | |
| 10,044 | | |
| 119,207 | |
| Balance as of June 30, 2025 | |
$ | 1,239,955 | | |
$ | 6,539,859 | | |
$ | 560,000 | | |
$ | 180,266 | | |
$ | 8,520,080 | |
|
| SCHEDULE OF ESTIMATED AGGREGATE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS |
Estimated
aggregate amortization expense of intangible assets for the next five years and thereafter is as follows:
SCHEDULE OF ESTIMATED AGGREGATE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS
| For the Years Ending December 31, | |
Total | |
| 2025 (remaining period) | |
$ | 589,350 | |
| 2026 | |
| 1,178,701 | |
| 2027 | |
| 343,745 | |
| 2028 | |
| 206,603 | |
| 2029 | |
| 144,936 | |
| Thereafter | |
| 644,469 | |
| Estimated
aggregate amortization expense | |
$ | 3,107,804 | |
|