INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9. INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

	December 31, 2021
								Weighted-
						Net		Average
	Gross		Accumulated			Carrying		Amortization
	Amount		Amortization			Amount		Period
Supply chain development	$	404,622	$	(385,710	)	$	18,912		0.19 yrs.
Patents and trademarks		123,414		(54,004	)		69,410		2.25 yrs.
	$	528,036	$	(439,714	)	$	88,322

	December 31, 2020
								Weighted-
						Net		Average
	Gross		Accumulated			Carrying		Amortization
	Amount		Amortization			Amount		Period
Supply chain development	$	395,248	$	(291,937	)	$	103,311		1.05 yrs.
Patents		70,435		(29,901	)		40,534		2.45 yrs.
	$	465,683	$	(321,838	)	$	143,845

Amortization expense for the years ended December 31, 2021 and 2020, was $117,876 and $114,668, respectively. The definite lived intangible assets have no residual value at the end of their useful lives.

AYRO, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

As of December 31, 2021, the intangible assets amortization expense to be recognized for each of the succeeding four years are as follows:

Period ending December 31,	Future Amortization Expense
2022	$	39,465
2023		24,156
2024		17,339
2025		7,362
	$	88,322