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INTANGIBLE ASSETS AND GOODWILL | 3 Months Ended
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Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | 3. INTANGIBLE ASSETS AND GOODWILL As of March 31, 2022, the Company’s intangible assets consisted of: SCHEDULE OF GOODWILL INDEFINITE AND FINITE LIVED INTANGIBLE ASSETS
Goodwill |  |  |  |
Balance at December 31, 2021 |  | $ | 1,587,634 |
Gain on currency translation |  |  | 23,146 |
Balance at March 31, 2022 |  | $ | 1,610,780 |
Indefinite lived intangible assets |  |  |  |
Balance at December 31, 2021 |  | $ | 6,375,492 |
Gain on currency translation |  |  | 92,948 |
Balance at March 31, 2022 |  | $ | 6,468,440 |
Definite lived intangible assets |  |  |  |
Balance at December 31, 2021 |  | $ | 548,436 |
Amortization |  |  | (42,188 | )
Balance at March 31, 2022 |  | $ | 506,248 |
For goodwill, identified indefinite lived assets, and identified definite lived intangible assets, there was no impairment expense during the three months ended March 31, 2022 and 2021. For identified definite lived intangible assets, amortization expense amounted to $42,188 and $136,640 during the three months ended March 31, 2022 and 2021, respectively. The Company amortizes definite lived intangible assets on a straight-line basis over their estimated useful lives. Amortization expense of identified intangible assets based on the carrying amount as of March 31, 2022 is as follows: SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS AMORTIZATION EXPENSES
Year ending December 31, |  |  |
2022 (excluding the three months ended March 31) |  | $ | 126,563 |
2023 |  |  | 168,750 |
2024 |  |  | 168,750 |
2025 |  |  | 42,185 |
Finite lived Assets Amortization Expense |  | $ | 506,248 |

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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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