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

INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

NOTE 7 – INTANGIBLE ASSETS

Intangible assets consist of the following:


	September 30, 2021
	Useful		Gross Carrying		Accumulated		Net Carrying
	Life		Amount		Amortization		Amount
Trademarks		10 Years	$	1,860,000	$	(93,425)	$	1,766,575
Intangible assets		5 Years		1,010,000		(101,461)		908,539
Customer relationships		7 Years		3,370,000		(241,813)		3,128,187
Patents and patent applications		(*)		700,000		—		700,000
			$	6,940,000	$	(436,699)	$	6,503,301

(*)	Patents which have yet to be approved by US Patent Office. Useful life is determined upon placement into service after approval.

Amortization expense was $218,349 and $436,699 for the three and nine months ended September 30, 2021.

Estimated amortization for intangible assets for future periods is as follows: