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INTANGIBLE ASSETS AND GOODWILL (Tables)
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF CHANGES IN GOODWILL

The following table summarizes the changes in goodwill during the six months ended June 30, 2023:

 

Balance December 31, 2022  $76,664,017 
Impairment   (41,038,172)
Foreign currency translation adjustment   1,717,523 
Ending balance, June 30, 2023  $37,343,368 
SUMMARY OF IDENTIFIABLE INTANGIBLE ASSETS

Intangible assets, net are summarized as follows:

 

   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
   June 30, 2023 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
Tradenames – trademarks  $4,056,997   $(1,943,623)  $2,113,374 
Customer base   1,198,533    (628,257)   570,276 
Non-compete agreements   704,157    (562,893)   141,264 
Intellectual property/technology   2,327,291    (851,481)   1,475,810 
Intangible Asset  $8,286,978   $(3,986,254)  $4,300,724 

 

   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
   December 31, 2022 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
Tradenames – trademarks  $4,744,409   $(1,167,476)  $3,576,933 
Customer base   2,949,143    (449,565)   2,499,578 
Non-compete agreements   796,583    (436,611)   359,972 
Intellectual property/technology   2,659,391    (620,645)   2,038,746 
Intangible Asset  $11,149,526   $(2,674,297)  $8,475,229 
SCHEDULE OF FUTURE AMORTIZATION EXPENSE

Based on the balance of intangible assets at June 30, 2023, expected future amortization expense is as follows:

 

       
2023 (remainder of)   $753,416 
2024    1,235,989 
2025    1,047,053 
2026    971,298 
2027    292,968 
Future Amortization Expense   $4,300,724