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v3.23.2

INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2023
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | NOTE 7 — INTANGIBLE ASSETS Intangible assets consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Consumer |  |  |  |  |  |
Domain names |  | $ | 41,352 |  |  | $ | 41,352 |
Point of sale system |  |  | 330,000 |  |  |  | 330,000 |
|  |  | 371,352 |  |  |  | 371,352 |
Less: accumulated amortization |  |  | (358,252 | ) |  |  | (335,502 | )
Subtotal |  |  | 13,100 |  |  |  | 35,850 |
Commercial |  |  |  |  |  |  |  |
Trademarks (1) |  |  | 1,483,000 |  |  |  | 1,483,000 |
Customer Contracts (1) |  |  | 1,873,000 |  |  |  | 1,873,000 |
Trademarks/Tradenames (2) |  |  | 114,000 |  |  |  | 114,000 |
Customer Relationships (2) |  |  | 345,000 |  |  |  | 345,000 |
Trademarks/Tradenames (3) |  |  | 1,272,000 |  |  |  | 1,272,000 |
Customer Relationships (3) |  |  | 1,464,000 |  |  |  | 1,464,000 |
|  |  | 6,551,000 |  |  |  | 6,551,000 |
Less: accumulated amortization |  |  | (1,920,854 | ) |  |  | (1,593,305 | )
Subtotal |  |  | 4,630,146 |  |  |  | 4,957,695 |
|  | $ | 4,643,246 |  |  | $ | 4,993,545 |
(1) Intangibles relate to the Echo Transaction on May 20, 2019. (2) Intangibles relate to the CExchange Transaction on June 9, 2021. (3) Intangibles relate to the Avail Transaction on October 29, 2021. The following table outlines the estimated future amortization expense related to intangible assets held as of June 30, 2023:
|  | Consumer |  |  | Commercial |  |  | Total |
2023 (excluding the six months ending June 30, 2023) |  |  | 7,600 |  |  |  | 327,550 |  |  |  | 335,150 |
2024 |  |  | 5,500 |  |  |  | 655,100 |  |  |  | 660,600 |
2025 |  |  | - |  |  |  | 655,100 |  |  |  | 655,100 |
2026 |  |  | - |  |  |  | 655,100 |  |  |  | 655,100 |
2027 |  |  | - |  |  |  | 655,100 |  |  |  | 655,100 |
Thereafter |  |  | - |  |  |  | 1,682,196 |  |  |  | 1,682,196 |
|  | $ | 13,100 |  |  | $ | 4,630,146 |  |  | $ | 4,643,246 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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