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

INTANGIBLE ASSETS

v3.22.2.2
INTANGIBLE ASSETS
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
INTANGIBLE ASSETS    
INTANGIBLE ASSETS

NOTE 5. INTANGIBLE ASSETS

 

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

 

 

 

Gross

Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

SOBR Safe

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual Technology

 

$ 3,854,675

 

 

$ 610,318

 

 

$ 3,244,357

 

 

 

10

 

 

 

Intangible assets consist of the following at June 30, 2022:

 

 

 

Gross

Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

SOBR Safe

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual Technology

 

$ 3,854,675

 

 

$ 803,050

 

 

$ 3,051,625

 

 

 

10

 

 

 

Amortization expense for the six-month period ended June 30, 2022 and 2021 was $192,732 and $192,732, respectively, and is included in general and administrative expenses in the condensed consolidated statements of operations.

 

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

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

Thereafter

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 385,467

 

 

$ 1,124,290

 

NOTE 6. INTANGIBLE ASSETS

 

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

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

SOBR Safe

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual Technology

 

$ 3,854,675

 

 

$ 610,318

 

 

$ 3,244,357

 

 

 

10

 

  

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

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Intangible

 

 

Amortization Period

 

 

 

Amount

 

 

Amortization

 

 

Asset

 

 

(in years)

 

SOBR Safe

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual Technology

 

$ 3,854,675

 

 

$ 224,854

 

 

$ 3,629,821

 

 

 

10

 

       

Amortization expense for the years ended December 31, 2021 and 2020 was $385,464 and $224,854, respectively.

 

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

 

 

$ 1,317,022