INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

10. INTANGIBLE ASSETS, NET

Intangible assets consist of the following at September 30, 2024 and December 31, 2023:

	Useful Lives	September 30, 2024			December 31, 2023
Customer relationships	7 years	$	7,100,000		$	7,100,000
Developed technology	10 years		9,700,000			10,219,775
Trademarks and tradenames	7 years		2,200,000			2,200,000
			19,000,000			19,519,775
Less: accumulated amortization			(4,597,142	)		(3,411,332	)
Total intangible assets, net		$	14,402,858		$	16,108,443

Amortization expense was $556,299 and $594,754 for the three months ended September 2024 and 2023, respectively, and $1,705,585 and $1,755,500 for the nine months ended September 30, 2024 and 2023, respectively.

Amortization expense for the next five years is as follows:

For the years ending December 31,
2024 (excluding the nine months ended September 30, 2024)	$	574,644
2025		2,298,571
2026		2,298,571
2027		2,298,571
2028		2,298,571
Thereafter		4,633,930
	$	14,402,858

EIGHTCO HOLDINGS INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)