Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.21.1
INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2020
INTANGIBLE ASSETS  
NOTE 6. INTANGIBLE ASSETS

Intangible assets consist of the following at December 31, 2020:

 

 

 

 Gross Carrying

Amount 

 

 

 Accumulated

Amortization   

 

 

 Net Intangible

Asset 

 

 

 Amortization Period

(in years)

 

SOBR Safe

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual Technology

 

$

3,854,675

 

 

$

224,854

 

 

$

3,629,821

 

 

 

10

 

 

Amortization expense for the years ended December 31, 2020 and 2019 was $224,854 and none, respectively.

 

Estimated future amortization expense for device technology intangible assets is as follows:

 

2021

 

 

 2022 

 

 

 2023

 

 

  2024

 

 

 2025

 

 

 Thereafter

 

$

385,467

 

 

$

385,467

 

 

$

385,467

 

 

$

385,467

 

 

$

385,467

 

 

$

1,702,486