XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.3
INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 8 — INTANGIBLE ASSETS, NET

 

As of September 30, 2024 and December 31, 2023, intangible assets, net consist of the following:

 

 SCHEDULE OF INTANGIBLE ASSETS

   September 30,
2024		   December 31,
2023		 
Assembled workforce  $—   $8,976,567 
Patent use right   18,202,057    18,435,140 
Others   7,026    212,190 
Subtotal   18,209,083    27,623,897 
Less: accumulated amortization   (1,990,850)   (7,884,621)
Intangible assets, net  $16,218,233   $19,739,276 

 

Amortization expense was $272,557 and $1,392,410 for the three months ended September 30, 2024 and 2023, respectively, and $806,440 and $4,320,219 for the nine months ended September 30, 2024 and 2023, respectively.

 

Other intangible assets consist of miscellaneous intangible assets with indefinite useful life.

 

Estimated future amortization expense related to intangible assets as of September 30, 2024 is as follows:

 

 SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS

Years ending December 31,  Amortization
expense		 
Remaining of 2024  $284,407 
2025   1,137,629 
2026   1,137,629 
2027   1,137,629 
2028   1,137,629 
Thereafter   11,376,284 
Total  $16,211,207 

 

 

SBC MEDICAL GROUP HOLDINGS INCORPORATED

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS