Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.23.1
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