| SUMMARY OF INTANGIBLE ASSETS |
The
following is a summary of intangible assets as of December 31, 2025 and 2024:
SUMMARY OF INTANGIBLE ASSETS
| | |
Licensing
Agreements (Finite) | | |
Software (Finite) | | |
Distribution Contracts (Finite) | | |
Trade
Names (Indefinite) | | |
Non-Compete
Agreement (Finite) | | |
Accumulated Amortization | | |
Total | |
| Balance as of January 1, 2024 | |
$ | 2,401,681 | | |
$ | 8,115,937 | | |
$ | 560,000 | | |
| 223,194 | | |
| 180,266 | | |
| (5,685,271 | ) | |
| 5,795,807 | |
| Amortization | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (2,381,170 | ) | |
| (2,381,170 | ) |
| Foreign currency translation adjustment | |
| (19,938 | ) | |
| (139,869 | ) | |
| - | | |
| (21,225 | ) | |
| (10,044 | ) | |
| 141,737 | | |
| (49,339 | ) |
| Balance as of December 31, 2024 | |
| 2,381,743 | | |
$ | 7,976,068 | | |
$ | 560,000 | | |
$ | 201,969 | | |
$ | 170,222 | | |
$ | (7,924,704 | ) | |
$ | 3,365,298 | |
| Amortization | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,075,114 | ) | |
| (1,075,114 | ) |
| Gaming software additions | |
| - | | |
| 1,110,751 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,110,751 | |
| Disposal of intangible assets | |
| (906,167 | ) | |
| (2,340,000 | ) | |
| (560,000 | ) | |
| - | | |
| (170,222 | ) | |
| 3,976,389 | | |
| - | |
| Foreign currency translation adjustment | |
| 187,931 | | |
| 702,213 | | |
| - | | |
| 17,547 | | |
| - | | |
| (537,083 | ) | |
| 370,608 | |
| Balance as of December 31, 2025 | |
$ | 1,663,507 | | |
$ | 7,449,032 | | |
$ | - | | |
$ | 219,516 | | |
$ | - | | |
$ | (5,560,512 | ) | |
$ | 3,771,543 | |
| Weighted average remaining amortization period at December 31, 2025 | |
| 15.2 | | |
| 4.2 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
|
| 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 | | |
Software | | |
Distribution Contracts | | |
Non-Compete Agreement | | |
Accumulated Amortization | |
| Balance as of January 1, 2024 | |
$ | 298,538 | | |
| 4,646,467 | | |
| 560,000 | | |
| 180,266 | | |
| 5,685,271 | |
| Amortization expense | |
| 902,744 | | |
| 1,478,426 | | |
| - | | |
| - | | |
| 2,381,170 | |
| Foreign currency translation adjustment | |
| - | | |
| (131,693 | ) | |
| - | | |
| (10,044 | ) | |
| (141,737 | ) |
| Balance as of December 31, 2024 | |
| 1,201,282 | | |
$ | 5,993,200 | | |
$ | 560,000 | | |
$ | 170,222 | | |
$ | 7,924,704 | |
| Amortization expense | |
| 83,171 | | |
| 991,943 | | |
| - | | |
| - | | |
| 1,075,114 | |
| Disposal of intangible assets | |
| (906,167 | ) | |
| (2,340,000 | ) | |
| (560,000 | ) | |
| (170,222 | ) | |
| (3,976,389 | ) |
| Foreign currency translation adjustment | |
| 37,593 | | |
| 499,490 | | |
| - | | |
| - | | |
| 537,083 | |
| Balance as of December 31, 2025 | |
$ | 415,879 | | |
$ | 5,144,633 | | |
$ | - | | |
$ | - | | |
$ | 5,560,512 | |
|
| SCHEDULE OF ESTIMATED AGGREGATE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS |
Estimated
aggregate amortization expense of intangible assets for the next five years and thereafter, excluding future amortization on non-amortizing
finite-lived intangible assets of $0.2 million, is as follows:
SCHEDULE OF ESTIMATED AGGREGATE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS
| For the Years Ending December 31, | |
Total | |
| 2026 | |
$ | 1,366,173 | |
| 2027 | |
| 562,409 | |
| 2028 | |
| 438,069 | |
| 2029 | |
| 199,158 | |
| 2030 | |
| 171,721 | |
| Thereafter | |
| 814,497 | |
| Estimated
aggregate amortization expense | |
$ | 3,552,027 | |
|