7. INTANGIBLE ASSETS

On February 3, 2022, the Company purchased the domain name Gaucho.com, in exchange for cash consideration of $34,999 and 861 shares of common stock valued at $39,600 (see Note 19 – Stockholders’ Equity, Common Stock). The domain name is being amortized over its useful life of 15 years.

On June 15, 2023, the Company purchased a music video to be used in certain marketing mediums for $50,000 in cash. The music video is being amortized over its useful life of 3 years.

The Company recognized $21,640 and $4,812 of amortization expense during the years ended December 31, 2023 and 2022, respectively, related to the domain name and music video purchased. Future amortization of the Company’s intangible assets are as follows:

 SCHEDULE OF INTANGIBLE ASSETS FUTURE AMORTIZATION

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS