| SCHEDULE OF INTANGIBLE ASSETS |
All
of the Company’s current identified intangible assets were assumed upon consummation of the Empire acquisition on October 1, 2021.
Identified intangible assets consisted of the following at the dates indicated below:
SCHEDULE OF INTANGIBLE ASSETS
| | |
December
31, 2025 | | |
Remaining |
| | |
Gross carrying | | |
Accumulated | | |
Carrying | | |
estimated |
| | |
amount | | |
amortization | | |
value | | |
useful
life |
| Intellectual Property | |
$ | 3,036,000 | | |
$ | (2,580,600 | ) | |
$ | 455,400 | | |
1 year |
| Customer List | |
| 2,239,000 | | |
| (951,575 | ) | |
| 1,287,425 | | |
6 years |
| Licenses | |
| 21,274,000 | | |
| (9,041,450 | ) | |
| 12,232,550 | | |
6 years |
| Total intangible assets,
net | |
$ | 26,549,000 | | |
$ | (12,573,625 | ) | |
$ | 13,975,375 | | |
|
| | |
December 31, 2024 | | |
Remaining |
| | |
Gross carrying | | |
Accumulated | | |
Carrying | | |
estimated |
| | |
amount | | |
amortization | | |
value | | |
useful life |
| Intellectual Property | |
$ | 3,036,000 | | |
$ | (1,973,400 | ) | |
$ | 1,062,600 | | |
2 years |
| Customer List | |
| 2,239,000 | | |
| (727,675 | ) | |
| 1,511,325 | | |
7 years |
| Licenses | |
| 21,274,000 | | |
| (6,914,050 | ) | |
| 14,359,950 | | |
7 years |
| Total intangible assets, net | |
$ | 26,549,000 | | |
$ | (9,615,125 | ) | |
$ | 16,933,875 | | |
|
|
| SCHEDULE OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS |
SCHEDULE OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS
| Year
ended December 31, | |
| |
| 2026 | |
$ | 2,806,700 | |
| 2027 | |
| 2,351,300 | |
| 2028 | |
| 2,351,300 | |
| 2029 | |
| 2,351,300 | |
| 2030 | |
| 2,351,300 | |
| Thereafter | |
| 1,763,475 | |
|