Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.22.1
Intangible Assets, Net
3 Months Ended
Mar. 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: 

  Preliminary         Average  
  Fair
Value
      Estimated
Life
 
Patent products   $  10,277,000       3.3 - 15.4  
Licenses and trademarks       865,000       9  
Customer/distribution list       (29,000 )     12.5  
    $ 11,113,000            
Accumulated amortization     (192,423 )        
Total     10,920,577          

 

    March 31,
2022
    December 31,
2021
 
Intangible assets   $ 11,113,000     $ 11,113,000  
                 
Less: Accumulated depreciation     (384,731 )     (192,423 )
Total   $ 10,728,269     $ 10,920,577