| 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.
|