INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

3. INTANGIBLE ASSETS AND GOODWILL

As of June 30, 2022, the Company’s intangible assets consisted of:

Goodwill
Balance at December 31, 2021	$	1,587,634
Loss on currency translation		(25,691	)
Balance at June 30, 2022	$	1,561,943
Indefinite lived intangible assets
Balance at December 31, 2021	$	6,375,492
Loss on currency translation		(103,167	)
Balance at June 30, 2022	$	6,272,325
Definite lived intangible assets
Balance at December 31, 2021	$	548,436
Amortization		(84,375	)
Balance at June 30, 2022	$	464,061

For goodwill, identified indefinite lived assets, and identified definite lived intangible assets, there was no impairment expense during the three and six months ended June 30, 2022 and 2021. For identified definite lived intangible assets, amortization expense amounted to $42,187 and $174,019 during the three months ended June 30, 2022 and 2021, respectively. For identified definite lived intangible assets, amortization expense amounted to $84,375 and $310,659 during the six months ended June 30, 2022 and 2021, respectively.

The Company amortizes definite lived intangible assets on a straight-line basis over their estimated useful lives. Amortization expense of identified intangible assets based on the carrying amount as of June 30, 2022 is as follows:

Year ending December 31,
2022 (excluding the six months ended June 30)	$	84,375
2023		168,750
2024		168,750
2025		42,186
	$	464,061

ENVERIC BIOSCIENCES, INC. AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS