General form of registration statement for all companies including face-amount certificate companies

INTANGIBLE ASSETS

v3.21.2
INTANGIBLE ASSETS
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
INTANGIBLE ASSETS    
NOTE 6. INTANGIBLE ASSETS

NOTE 5. INTANGIBLE ASSETS

 

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

 

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net Intangible

Asset

 

 

Amortization

Period (in years)

 

SOBR Safe Intellectual Technology

 

$ 3,854,675

 

 

$ 513,952

 

 

$ 3,340,723

 

 

 

10

 

                                                                           

Amortization expense for the nine-month period ended September 30, 2021 and 2020 was $298,098 and $128,488, 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

 

 

$ 1,413,388

 

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