AYRO, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9. INTANGIBLE ASSETS, NET

Intangible assets consisted of the following:

SCHEDULE OF INTANGIBLE ASSETS

	September 30, 2021
	Gross Amount		Accumulated Amortization			Net Carrying Amount		Weighted- Average Amortization Period
Supply chain development	$	404,622	$	(366,836	)	$	37,786		0.37 yrs.
Patents and trademarks		118,290		(46,966	)		71,324		2.41 yrs.
	$	522,912	$	(413,802	)	$	109,110

	December 31, 2020
	Gross Amount		Accumulated Amortization			Net Carrying Amount		Weighted- Average Amortization 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 three months ended September 30, 2021 and 2020, was $31,941 and $28,805 and for the nine months ended September 30, 2021 and 2020, was $91,964 and $85,656, respectively. The definite lived intangible assets have no residual value at the end of their useful lives.