| Schedule of Intangible Assets |
Intangible assets consisted of the following:
| | |
Estimated Useful Lives (in Years) | | |
June 30,
2024 | | |
December 31,
2023 | |
| Goodwill | |
| | |
$ | 3,045,000 | | |
$ | 3,045,000 | |
| | |
| | |
| | | |
| | |
| Customer contracts | |
7-10 | | |
$ | 5,805,749 | | |
$ | 5,483,263 | |
| Developed technology | |
15 | | |
| 1,660,000 | | |
| 1,660,000 | |
| Non-compete agreements | |
3 | | |
| 840,000 | | |
| 840,000 | |
| Patents | |
5-10 | | |
| 230,000 | | |
| 230,000 | |
| Tradename | |
10-15 | | |
| 2,010,000 | | |
| 2,010,000 | |
| Total intangible assets | |
| | |
| 10,545,749 | | |
| 10,223,263 | |
| Less: amortization | |
| | |
| (3,550,555 | ) | |
| (3,087,515 | ) |
| Intangibles, net | |
| | |
$ | 6,995,194 | | |
$ | 7,135,748 | |
|
| Schedule of Future Amortization |
The future amortization is as follows:
Years Ending December 31: | |
| |
| 2024 (remainder of year) | |
$ | 564,233 | |
| 2025 | |
| 1,015,571 | |
| 2026 | |
| 858,466 | |
| 2027 | |
| 858,466 | |
| 2028 | |
| 724,350 | |
| Thereafter | |
| 2,974,108 | |
| Total | |
$ | 6,995,194 | |
|