v3.25.2
Intangible Assets, Net
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets, net
6.
Intangible assets, net

 

 

December 31, 2024

 

 

December 31, 2023

 

Software

 

$

 

1,014,967

 

 

$

 

1,009,272

 

In-development intangible asset

 

 

 

6,655,623

 

 

 

 

1,862,465

 

 

 

 

7,670,590

 

 

 

 

2,871,737

 

Less—Accumulated amortization for Software

 

 

 

(920,412

)

 

 

 

(736,834

)

Intangible assets, net

 

$

 

6,750,178

 

 

$

 

2,134,903

 

 

Amortization expense for software for the years ended December 31, 2024 and 2023 was $183,578 and $197,800 respectively. The Company has not commenced amortizing the in-development intangible asset as it not yet ready for its intended use.

As of December 31, 2024, expected amortization expense for Software over its remaining life is as follows:

 

2025

 

$

 

75,960

 

2026

 

 

 

6,973

 

2027

 

 

 

6,973

 

2028

 

 

 

4,649

 

2029

 

 

 

 

Thereafter

 

 

 

 

 

$

 

94,555