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NOTE 3 — Intangible Assets

3 Months Ended

Mar. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

NOTE 3 — Intangible Assets

NOTE 3 — Intangible Assets

In 2021, the Company entered into the Technology Transfer Agreement with SpringCard SAS. The Unaudited Condensed Balance Sheets include the intangible assets of the acquired technology at the carrying amount, net of amortization of $1,527,545 as of March 31, 2024.

The intangible assets are amortized on a straight-line basis over their estimated useful lives of fifteen years, beginning on April 1, 2021. As of March 31, 2024, the estimated future amortization of these intangible assets is as follows:


Fiscal Year			Amount
	2024 (April 1, 2024 to December 31, 2024)		$	95,472
	2025			127,296
	2026			127,296
	2027			127,296
	2028			127,296
	Thereafter			922,889
			$	1,527,545

SOCKET MOBILE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)

March 31, 2024

The amortization expense was $31,824 for the three months ended March 31st in both 2024 and 2023.