Registration statement for securities of certain foreign private issuers

INTANGIBLE ASSETS (Tables)

v3.23.2
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2022
SCHEDULE OF RECONCILIATION OF INTANGIBLE ASSETS

A reconciliation of intangible assets for the years ended December 31, 2022 and 2021 are as follows:

 

    Balance as
of
December 31,
2021		     Software
Development
Additions		     Acquisition of
Intangibles		     Amortization
Expense		     Impairment     Foreign
Currency
Translation		     Balance as
of
December 31,
2022		  
GeniusU software platform   $ 2,811,496     $ 743,995     $ —     $ —     $ (1,084,613 )   $ —     $ 2,470,878  
Trade names, trademarks and domain names     13,234       —       6,919,356       —       —       355       6,932,945  
Customer Relationship             —       8,964,000       (321,832 )     —               8,642,168  
Accumulated amortization     (1,429,761 )     —       —       (508,937 )     —       —       (1,938,698 )
Net carrying value   $ 1,394,969     $ 743,995     $ 15,883,356     $ (830,769 )   $ (1,084,613 )   $ 355     $ 16,107,293  

 

   

Balance as
of
December

31,
2020

     Software
Development
Additions		     Acquisition of
Intangibles		     Amortization
Expense		     Foreign
Currency
Translation		     Balance as
of
December 31,
2021		  
GeniusU software platform platform   $ 2,007,182     $ 804,314     $ —     $ —     $ —     $ 2,811,496  
Trademarks     13,234       —       —       —       —       13,234  
Accumulated amortization     (1,015,502 )     —       —       (424,080 )     9,821       (1,429,761 )
Net carrying value   $ 1,004,914     $ 804,314     $ —     $ (424,080 )   $ 9,821     $ 1,394,969