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NOTE 3 — Intangible Assets
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, 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 $1,400,249 as of March 31, 2025.

 

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, 2025, the estimated future amortization of these intangible assets is as follows:

 

       
Fiscal Year Amount
2025 (April 1, 2025 to December 31, 2025) $95,472 
2026  127,296 
2027  127,296 
2028  127,296 
2029  127,296 
Thereafter  795,593 
  $1,400,249 

 

 

SOCKET MOBILE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)

March 31, 2025

 

The amortization expense was $31,824 for the three months ended March 31 in both 2025 and 2024.