Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.21.1
INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2021
INTANGIBLE ASSETS  
NOTE 5. INTANGIBLE ASSETS

Intangible assets consist of the following at March 31, 2021:

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

SOBR Safe Intellectual Technology  

 

$ 3,854,675

 

 

$ 321,220

 

 

$ 3,533,455

 

 

 

10

 

    

Amortization expense for the three month period ended March 31, 2021 and 2020 was $96,366 and none, respectively, and is included in general and administrative expenses in the consolidated statements of operations.

 

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

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

Thereafter

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 1,606,120