Global Clean Energy Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS AND GOODWILL

3 Months Ended

Mar. 31, 2022

NOTE

- INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

Intangible assets as of March 31, 2022 and December 31, 2021 are shown in the following table:

			March 31, 2022				December 31, 2021
	Remaining Weighted Average Useful Life		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite Lived Intangible Assets
Trade name		-	$	90,000	$	-	$	90,000	$	-
Definite Lived Intangible Assets
Patent licenses		5 years		8,199,651		3,077,349		8,188,315		2,831,088
Developed seed variant technology		24 years		5,679,500		60,094		5,679,500		-
Refinery permits		13 years		1,921,082		307,831		1,921,082		275,813
Total			$	15,890,233	$	3,445,274	$	15,878,897	$	3,106,901

Amortization expense for intangible assets were approximately $338,000 and $89,000 for the

three

months ended March 31, 2022 and March 31, 2021, respectively.

The estimated intangible asset amortization expense for 2022 through 2026 and thereafter is as follows:

	Estimated Amortization Expense
April 1, 2022 through December 31, 2022	$	946,892
2023		1,094,402
2024		965,204
2025		864,059
2026		848,773
Thereafter		7,725,629
Total	$	12,444,959

Goodwill as of March 31, 2022 is shown in the following table:

	March 31, 2022
Balance as of December 31, 2021	$	8,777,440
Adjustments to CCE Acquisition		1,547,459
Balance as of March 31, 2022	$	10,324,899