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INTANGIBLE ASSETS (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

The following tables reflect all the intangible assets presented on the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022:

 

    September 30, 2023
    Gross                       Weighted
    Carrying     Accumulated     Impairment     Net Book     Average
    Amount     Amortization     Loss     Value     Useful Life
License rights from related parties   $ 136,665,000     $ (136,534,565 )   $ —     $ 130,435     3 - 5 years
License rights   $ 3,000,000     $ (3,000,000 )   $ —     $ —     5 years
Intangible assets - other:                                    
Software   $ 51,784     $ (51,784 )   $ —     $ —     3 years
Trademark     10,745       (9,713 )     —       1,032     12 years
In-progress patent     270,886       —       —       270,886      
Total:   $ 333,415     $ (61,497 )   $ —     $ 271,918      

 

 

Snail Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

 

   December 31, 2022 
   Gross               Weighted
   Carrying   Accumulated   Impairment   Net Book   Average
   Amount   Amortization   Loss   Value   Useful Life
License rights from related parties  $136,665,000   $(135,280,942)  $—   $1,384,058   3 - 5 years
License rights  $3,000,000   $(3,000,000)  $—   $—   5 years
Intangible assets - other:                       
Software  $51,784   $(51,784)  $—   $—   3 years
Trademark   10,745    (9,110)   —    1,635   12 years
In-progress patent   270,886    —    —    270,886    
Total:  $333,415   $(60,894)  $—   $272,521    
SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS

 

Years ending December 31,  Amount 
Remainder of 2023  $130,636 
2024   804 
2025   27 
2026   — 
2027   — 
Thereafter   270,886 
Total  $402,353