Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.21.2
INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2021
INTANGIBLE ASSETS  
NOTE 5. INTANGIBLE ASSETS

NOTE 5. INTANGIBLE ASSETS

 

Intangible assets consist of the following at June 30, 2021:

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SOBR Safe Intellectual Technology 

 

$ 3,854,675

 

 

$ 417,586

 

 

$ 3,437,089

 

 

 

10

 

                                                           

Amortization expense for the six-month period ended June 30, 2021 and 2020 was $192,732 and 32,122, 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

 

 

$ 1,509,754