| Intangible assets, net |
| (15) | Intangible
assets, net |
The
acquired intangible assets, all of which are being amortized, have an average useful life of approximately 20 years. Intangible assets
consist of the following as of March 31, 2025 and December 31, 2024.
| | | For the year ended March 31, 2025 | | | | | Average
useful life | | | Gross carrying
amount | | | Accumulated amortization | | | Net carrying
amount | | | Technology license | | | 20 years | | | $ | 98,061 | | | $ | 78,691 | | | $ | 19,371 | | | Customer relationship | | | 20 years | | | | 580,489 | | | | 261,220 | | | | 319,269 | | | Patent technology | | | 20 years | | | | 165,207,671 | | | | 19,387,021 | | | | 145,820,650 | | | | | | | | | $ | 165,886,221 | | | $ | 19,726,932 | | | $ | 146,159,289 | |
| | | For the year ended December 31, 2024 | | | | | Average
useful life | | | Gross carrying
amount | | | Accumulated amortization | | | Net carrying
amount | | | Technology license | | | 20 years | | | $ | 97,828 | | | $ | 78,439 | | | $ | 19,389 | | | Customer relationship | | | 20 years | | | | 579,107 | | | | 231,643 | | | | 347,464 | | | Patent technology | | | 20 years | | | | 164,814,319 | | | | 17,124,320 | | | | 147,690,000 | | | | | | | | | $ | 165,491,254 | | | $ | 17,434,402 | | | $ | 148,056,852 | |
Accumulated amortization expense for intangible assets is $2,272,817
and $2,896,174 for the three-months ended March 31, 2025 and 2024, respectively.
|