INTANGIBLE ASSETS

6 Months Ended

12 Months Ended

Apr. 30, 2024

Oct. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – INTANGIBLE ASSETS

The following table sets forth the carrying amounts of intangible assets and goodwill including accumulated amortization as of April 30, 2024:

	Remaining Useful Life	Cost		Accumulated Amortization and Impairment			Net Carrying Value
Trademarks and tradenames	12.25 years	$	693,330	$	(403,062	)	$	290,268
Patents, know-how and unpatented technology	12.25 years		710,060		(370,508	)		339,552
Customer relationships	0.25 years		114,536		(110,439	)		4,197
Total			1,517,926		(884,009	)		633,917

Remaining

Useful Life

Cost

Impairment

Net Carrying

Value

Goodwill

Indefinite

4,523,040

(914,091

)

3,608,949

The table below presents anticipated future amortization expense related to the Company’s intangible assets for each of the succeeding five fiscal years ending October 31;

SCHEDULE OF FUTURE AMORTIZATION EXPENSE


2024	$	63,697
2025		51,416
2026		51,416
2027		51,416
2028		51,416
Total	$	269,361

During the three and six months ended April 30, 2024 and 2023, the Company recorded amortization expense of $16,948 and $33,896, and $32,934 and $65,868, respectively.

NOTE 5 – INTANGIBLE ASSETS

The following table sets forth the carrying amounts of intangible assets and goodwill including accumulated amortization as of October 31, 2023:

	Remaining Useful Life		Cost		Accumulated Amortization and Impairment			Net Carrying Value
Trademarks and tradenames		12.75 years	$	693,330	$	(391,214	)	$	302,116
Patents, know-how and unpatented technology		12.75 years		710,060		(356,648	)		353,412
Customer relationships		0.75 years		114,536		(102,251	)		12,285
Total				1,517,926		(850,113	)		667,813

Remaining

Useful Life

Cost

Impairment

Net Carrying

Value

Goodwill

Indefinite

4,523,040

(914,091

)

3,608,949

The following table sets forth the carrying amounts of intangible assets and goodwill including accumulated amortization as of October 31, 2022:

	Remaining Useful Life		Cost		Accumulated Amortization and Impairment			Net Carrying Value
Trademarks and tradenames		13.75 years	$	693,330	$	(46,222	)	$	647,108
Patents, know-how and unpatented technology		13.75 years		710,060		(47,337	)		662,723
Customer relationships		1.75 years		114,536		(46,966	)		67,570
Total				1,517,926		(140,525	)		1,377,401

Remaining

Useful Life

Cost

Impairment

Net Carrying

Value

Goodwill

Indefinite

4,523,040

(914,091

)

3,608,949

The table below presents anticipated future amortization expense related to the Company’s intangible assets for each of the succeeding five fiscal years ending October 31;

SCHEDULE OF FUTURE AMORTIZATION EXPENSE


2024	$	63,697
2024
2025		51,416
2026		51,416
2027		51,416
2028		51,416
Total	$	269,361

During the years ended October 31, 2023 and 2022, the Company recorded amortization expense of $131,736 and $131,735, respectively. The Company also recognized $243,795 of impairment expense related to its Fitore subsidiary and $334,057 of impairment expense related to its InfiniVive subsidiary during the year ended October 31, 2023.

Vitro Biopharma, Inc. S-1/A