Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.23.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 7 – INTANGIBLE ASSETS, NET

 

The components of the acquired intangible assets were as follows:

 

    December 31,
2022		     December 31,
2021		     Average
Estimated
Life		  
Patent products   $ 10,277,000     $ 10,277,000       15  
Licenses and trademarks     836,000       836,000       9  
Intangible assets   $ 11,113,000     $ 11,113,000          
                         
Less: Accumulated amortization     (961,828 )     (192,423 )        
Total   $ 10,151,172     $ 10,920,577          

 

Amortization expense was $769,405 and $192,423 for the years ended December 31, 2022 and 2021, respectively.