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v3.25.1

INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
INTANGIBLE ASSETS | NOTE 15 — INTANGIBLE ASSETS The Company’s intangible assets consist of costs incurred in connection with the development of the Company’s digital education software platform, the acquisition of customer relationships and trademarks. SCHEDULE OF INTANGIBLE ASSETS
|  | Cost |  |  | Accumulated depreciation |  |  | Impairment |  |  | Carrying amount as of December 31 2024 |  |  | Cost |  |  | Adjustment |  |  | Accumulated depreciation |  |  | Impairment |  |  | Carrying amount as of December 31 2023 |
GeniusU software platform |  | $ | 4,486,619 |  |  | $ | (3,095,867 | ) |  | $ | (1,084,613 | ) |  | $ | 306,139 |  |  | $ | 3,993,719 |  |  | $ | — |  |  | $ | (2,510,139 | ) |  | $ | (1,084,613 | ) |  | $ | 398,967 |
Trade names, trademarks and domain names |  |  | 7,632,945 |  |  |  | (11,514 | ) |  |  | (194,531 | ) |  |  | 7,426,900 |  |  |  | 6,932,945 |  |  |  | 700,000 |  |  |  | — |  |  |  | - |  |  |  | 7,632,945 |
Film Library |  |  | 4,600,000 |  |  |  | (1,217,646 | ) |  |  | (939,964 | ) |  |  | 2,442,390 |  |  |  | - |  |  |  | 4,600,000 |  |  |  | (676,470 | ) |  |  | - |  |  |  | 3,923,530 |
Customer list |  |  | 4,200,000 |  |  |  | (1,890,000 | ) |  |  | (641,954 | ) |  |  | 1,668,046 |  |  |  | - |  |  |  | 4,200,000 |  |  |  | (1,050,000 | ) |  |  | - |  |  |  | 3,150,000 |
Customer Relationship |  |  | 340,000 |  |  |  | (262,691 | ) |  |  | (7,688 | ) |  |  | 69,621 |  |  |  | 8,964,000 |  |  |  | (8,624,000 | ) |  |  | (194,691 | ) |  |  | - |  |  |  | 145,309 |
|  | $ | 21,259,564 |  |  | $ | (6,477,718 | ) |  | $ | (2,868,750 | ) |  | $ | 11,913,096 |  |  | $ | 19,890,664 |  |  | $ | 876,000 |  |  | $ | (4,431,300 | ) |  | $ | (1,084,613 | ) |  | $ | 15,250,751 |
A reconciliation of intangible assets for the years ended December 31, 2024 and 2023 are as follows: SCHEDULE OF RECONCILIATION OF INTANGIBLE ASSETS
|  | Balance as of December 31, 2023 |  |  | Software Development Additions |  |  | Amortization Expense |  |  | Impairment |  |  | Balance as of December 31, 2024 |
GeniusU software platform |  | $ | 2,909,106 |  |  | $ | 492,900 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,402,006 |
Trade names, trademarks and domain names |  |  | 7,632,945 |  |  |  | - |  |  |  | (11,514 | ) |  |  | (194,531 | ) |  |  | 7,426,900 |
Film Library |  |  | 3,923,530 |  |  |  | - |  |  |  | (541,176 | ) |  |  | (939,964 | ) |  |  | 2,442,390 |
Customer List |  |  | 3,150,000 |  |  |  | - |  |  |  | (840,000 | ) |  |  | (641,954 | ) |  |  | 1,668,046 |
Customer Relationship |  |  | 145,309 |  |  |  | - |  |  |  | (68,000 | ) |  |  | (7,688 | ) |  |  | 69,621 |
Accumulated amortization |  |  | (2,510,139 | ) |  |  | - |  |  |  | (585,728 | ) |  |  | - |  |  |  | (3,095,867 | )
Net carrying value |  | $ | 15,250,751 |  |  | $ | 492,900 |  |  | $ | (2,046,418 | ) |  | $ | (1,784,137 | ) |  | $ | 11,913,096 |
|  | Balance |  |  | Software Development Additions |  |  | Adjustments |  |  | Amortization Expense |  |  | Balance |
|  | Balance as of December 31, 2022 |  |  | Software Development Additions |  |  | Adjustments |  |  | Amortization Expense |  |  | Balance as of December 31, 2023 |
GeniusU software platform |  | $ | 2,470,878 |  |  | $ | 438,228 |  |  |  | - |  |  | $ | — |  |  | $ | 2,909,106 |
Trade names, trademarks and domain names |  |  | 6,932,945 |  |  |  | — |  |  |  | 700,000 |  |  |  | — |  |  |  | 7,632,945 |
Film Library |  |  | - |  |  |  | - |  |  |  | 4,600,000 |  |  |  | (676,470 | ) |  |  | 3,923,530 |
Customer List |  |  | — |  |  |  | — |  |  |  | 4,200,000 |  |  |  | (1,050,000 | ) |  |  | 3,150,000 |
Customer Relationship |  |  | 8,642,168 |  |  |  | — |  |  |  | (8,624,000 | ) |  |  | 127,141 |  |  |  | 145,309 |
Accumulated amortization |  |  | (1,938,698 | ) |  |  | — |  |  |  | - |  |  |  | (571,441 | ) |  |  | (2,510,139 | )
Net carrying value |  | $ | 16,107,293 |  |  | $ | 438,228 |  |  |  | 876,000 |  |  | $ | (2,170,770 | ) |  | $ | 15,250,751 |
During the years ended December 31, 2024 and 2023, the Company recorded amortization of intangible assets in the amount of $2,046,418 and $2,170,770 respectively. Annual estimated total amortization expense is $1.97 million, $1.85 million, $1.47 million for 2025 through 2027 and $1.93 million thereafter.

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