Intangible Asset, Net |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset, Net |
Note 7 – Intangible Asset, net The intangible asset consist of the acquired brand assets of Kalahari with a carrying value of $4,849,596. As of December 31, 2022 and 2021, the intangible asset had a balance of $4,362,024 and $4,604,359, respectively. As of December 31, 2022 and 2021, accumulated amortization related to intangible asset had a balance of $487,572 and $245,237, respectively. As of December 31, 2022, the Company estimated that the remaining useful life of the Company's intangible asset was approximately 18 years. The estimated future amortization of intangibles subject to amortization at December 31, 2022 was as follows:
Amortization expense for the years ended December 31, 2022 and 2021 was $242,334 and $245,238, respectively. |
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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