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AMORTIZATION OF INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
AMORTIZATION OF INTANGIBLE ASSETS | NOTE 18 – AMORTIZATION OF INTANGIBLE ASSETS All of the Company’s current identified intangible assets were assumed upon consummation of the Empire acquisition on October 1, 2021. Identified intangible assets consisted of the following at the dates indicated below: SCHEDULE OF INTANGIBLE ASSETS
|  | June 30, 2022 |  |  |
|  | Gross carrying amount |  |  | Accumulated amortization |  |  | Carrying value |  |  | Estimated remaining useful life
Intellectual Property |  | $ | 3,036,000 |  |  | $ | (455,400 | ) |  | $ | 2,580,600 |  |  | 4.25 years
Customer List |  |  | 2,239,000 |  |  |  | (167,925 | ) |  |  | 2,071,075 |  |  | 9.25 years
Licenses |  |  | 21,274,000 |  |  |  | (1,595,550 | ) |  |  | 19,678,450 |  |  | 9.25 years
Total finite-lived intangibles |  |  | 26,549,000 |  |  |  | (2,218,875 | ) |  |  | 24,330,125 |  |  |
Total intangible assets, net |  | $ | 26,549,000 |  |  | $ | (2,218,875 | ) |  | $ | 24,330,125 |  |  |
Amortization expense for intangible assets was $739,625 and $0 for the three months ended June 30, 2022 and 2021, respectively. Amortization expense for intangible assets was $739,625 and $0 for the three months ended June 30, 2022 and 2021, respectively. Amortization expense for intangible assets was $1,479,250 and $0 for the six months ended June 30, 2022 and 2021, respectively. Total estimated amortization expense for our intangible assets for the years 2021 through 2026 is as follows: SCHEDULE OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS
Year ended December 31, |  |  |
2022 |  | $ | 1,479,250 |
2023 |  |  | 2,958,500 |
2024 |  |  | 2,958,500 |
2025 |  |  | 2,958,500 |
2026 |  |  | 2,806,700 |
Thereafter |  |  | 11,168,675 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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