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

INTANGIBLE ASSETS AND GOODWILL

3 Months Ended

Mar. 31, 2023

NOTE E - INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

Intangible assets as of March 31, 2023 and December 31, 2022 are shown in the following table:

			March 31, 2023				December 31, 2022
	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		4 years		8,240,371		3,998,112		8,223,402		3,816,133
Developed seed variant technology		23 years		5,679,500		291,779		5,679,500		169,633
Refinery permits		13 years		1,921,082		435,903		1,921,082		403,885
Total			$	15,930,953	$	4,725,794	$	15,913,984	$	4,389,651

Amortization expense for intangible assets w

approximately $336,000 and $338,000 for the three months ended March 31, 2023 and March 31, 2022, respectively.

The estimated intangible asset amortization expense for 2023 through 2027 and thereafter is as follows:

	Estimated Amortization Expense
March 31, 2023 through December 31, 2023	$	756,029
2024		965,204
2025		864,059
2026		848,773
2027		800,041
Thereafter		6,971,053
Total	$	11,205,159

Goodwill as of March 31, 2023 is shown in the following table:

	March 31, 2023
Balance as of December 31, 2022	$	9,470,699
Foreign currency adjustments		599,970
Balance as of March 31, 2023	$	10,070,669