INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

9. INTANGIBLE ASSETS, NET

Intangible assets consist of the following at September 30, 2023 and December 31, 2022:

	Useful Lives	September 30, 2023			December 31, 2022
Customer relationships	7 years	$	7,100,000		$	7,100,000
Developed technology	10 years		10,105,062			9,858,594
Trademarks and tradenames	7 years		2,200,000			2,200,000
			19,405,062			19,158,594
Less: accumulated amortization			(2,334,108	)		(578,608	)
Total intangible assets, net		$	17,070,954		$	18,579,986

Amortization expense was $594,754 and $0 for the three months ended September 30, 2023 and 2022, respectively, and $1,755,500 and $0 for the nine months ended September 30, 2023 and September 30, 2022, respectively.

Amortization expense for the next five years is as follows:

For the years ending December 31,
2023 (excluding the nine months ended September 30, 2023)	$	649,679
2024		2,314,431
2025		2,314,431
2026		2,314,431
2027		2,314,431
Thereafter		7,163,551
	$	17,070,954

EIGHTCO HOLDINGS INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)