Intangible Assets

3 Months Ended

12 Months Ended

Oct. 31, 2022

Jul. 31, 2022

DIGERATI TECHNOLOGIES, INC [Member]

Intangible Assets [Line Items]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Below are summarized changes in intangible assets at October 31, 2022, and July 31, 2022:

	Gross Carrying		Accumulated			Net Carrying
October 31, 2022	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(38,017	)		1,983
Customer relationships, 7 years		10,947,262		(2,943,548	)		8,003,714
Trademarks, 7 & 10 years		7,148,000		(1,226,311	)		5,921,689
Non-compete, 2 & 3 years		931,000		(507,083	)		423,917
Marketing & Non-compete, 5 years		800,263		(719,983	)		80,280
Total Definite-lived Intangible Assets		20,016,525		(5,584,942	)		14,431,583
Goodwill		19,380,080		-			19,380,080
Balance, October 31, 2022	$	39,396,605	$	(5,584,942	)	$	33,811,663

	Gross Carrying		Accumulated			Net Carrying
July 31, 2022	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(36,684	)		3,316
Customer relationships, 7 years		10,947,262		(2,573,052	)		8,374,210
Trademarks, 7 & 10 years		7,148,000		(993,806	)		6,154,194
Non-compete, 2 & 3 years		931,000		(394,583	)		536,417
Marketing & Non-compete, 5 years		800,263		(679,980	)		120,283
Total Definite-lived Intangible Assets		20,016,525		(4,828,105	)		15,188,420
Goodwill		19,380,080		-			19,380,080
Balance, July 31, 2022	$	39,396,605	$	(4,828,105	)	$	34,568,500

Total amortization expense for the three months ended October 31, 2022, and 2021 was $756,837 and $433,785, respectively.

NOTE 3 - INTANGIBLE ASSETS

Below are summarized changes in intangible assets at July 31, 2022, and July 31, 2021:

July 31, 2022	Gross Carrying Value		Accumulated Amortization			Net Carrying Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(36,684	)		3,316
Customer relationships, 7 years		10,947,262		(2,573,052	)		8,374,210
Trademarks, 7 & 10 years		7,148,000		(993,806	)		6,154,194
Non-compete, 2 & 3 years		931,000		(394,583	)		536,417
Marketing & Non-compete, 5 years		800,263		(679,980	)		120,283
Total Definite-lived Intangible Assets		20,016,525		(4,828,105	)		15,188,420
Goodwill		19,380,080		-			19,380,080
Balance, July 31, 2022	$	39,396,605	$	(4,828,105	)	$	34,568,500

July 31, 2021	Gross Carrying Value		Accumulated Amortization			Net Carrying Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(28,672	)		11,328
Customer relationships 7 years		6,790,000		(1,310,720	)		5,479,280
Trademarks, 7 years		2,870,000		(307,500	)		2,562,500
Non-compete, 2 & 3 years		291,000		(97,500	)		193,500
Marketing & Non-compete, 5 years		800,000		(520,000	)		280,000
Total Definite-lived Intangible Assets		10,941,000		(2,414,392	)		8,526,608
Goodwill		3,931,298		-			3,931,298
Balance, July 31, 2021	$	14,872,298	$	(2,414,392	)	$	12,457,906

Total amortization expense for the year ended July 31, 2022, and 2021 was $2,448,274 and $1,396,214, respectively.