Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.23.1
INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

 

    March 31, 2023 (Unaudited)  
    Gross carrying amount     Accumulated amortization     Impairment     Net carrying value  
                         
Goodwill   $ -     $ -     $        -     $ -  
Customer list     42,500       (42,500 )     -       -  
Technology     684,000       (664,000 )     -       20,000  
Trade name     54,900       (54,900 )     -       -  
    $ 781,400     $ (761,400 )   $ -     $ 20,000  

 

    December 31, 2022  
    Gross carrying amount     Accumulated amortization     Impairment     Net carrying value  
                         
Goodwill   $ 277,800     $ -     $ (277,800 )   $ -  
Customer list     42,500       (42,500 )     -       -  
Technology     875,900       (813,300 )     (41,900 )     20,700  
Trade name     54,900       (54,900 )     -       -  
    $ 1,251,100     $ (910,700 )   $ (319,700 )   $ 20,700  

 

The estimated useful lives of the intangible assets range from seven to twenty years. Amortization expense was $700 and $5,500 for the three months ended March 31, 2023, and 2022, respectively.