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GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2023

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS

NOTE 5 – GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill and intangible assets, net consist of the following at:

		September 30, 2023				December 31, 2022
License		$	3,356,913			$	643,204
Trade name / mark			392,197				36,997
Customer base			602,204				176,793
			4,351,314				856,994
Less: Accumulated amortization			(335,498	)			(199,777	)
Subtotal			4,015,816				657,217
Goodwill			49,697				49,697
Total		$	4,065,513			$	706,914

At September 30, 2023, the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years is as follows:

Year		Amount
2023		$	103,193
2024			398,636
2025			398,709
2026			398,709
2027			398,709
Thereafter			1,962,661
Total amortization		$	3,660,616

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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