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NOTE 3 — Intangible Assets

9 Months Ended

Sep. 30, 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 (“SpringCard”). The Unaudited Condensed Balance Sheets include the intangible assets of the acquired technology at the carrying amount, net of amortization of $1,463,897 as of September 30, 2024.

SOCKET MOBILE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)

September 30, 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 September 30, 2024, the estimated future amortization of these intangible assets is as follows:

Fiscal Year	Amount
2024 (October 1, 2024 to December 31, 2024)	$      31,824
2025	127,296
2026	127,296
2027	127,296
2028	127,296
Thereafter	922,889
Total	$   1,463,897

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- Definition

The entire disclosure for asset acquisition.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 50
-Name Accounting Standards Codification
-Section 15
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480123/805-50-15-3

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- References

No definition available.

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