v3.25.2
Goodwill and Intangible Assets (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets [Abstract]    
Schedule of Activity in Goodwill

The following is a summary of activity in goodwill for the three months ended March 31, 2025 and 2024:

 

   March 31,
2025		 
Balance at December 31, 2024  $4,779,625 
Foreign exchange transactions   144,526 
Balance at March 31, 2025   4,924,151 

 

   March 31,
2024		 
Balance at December 31, 2023  $4,797,078 
Foreign exchange transactions   16,156 
Balance at March 31, 2024   4,813,234 

The following is a summary of activity in goodwill:

 

   December 31,
2024		 
Balance at December 31, 2022  $4,576,572 
Foreign exchange transaction   220,506 
Balance at December 31, 2023   4,797,078 
Foreign exchange transactions   (17,453)
Balance at December 31, 2024  $4,779,625 
Schedule of Intangible Assets

Intangible assets consist of the following:

 

   As of March 31, 2025 
   Amortization
Period		   Costs as of
December 31,
2024		   Additions   Disposals   Ending
Costs		   Accumulated
Amortization		   Accumulated
Impairment		   Net Book
Value		 
Patents   15 years   $7,551,468   $130,991    
         -
    7,682,459    (6,784,407)   
    -
   $898,052 

 

   As of December 31, 2024 
   Amortization   Costs as of
January 1,		           Ending   Accumulated   Accumulated   Net Book 
   Period   2024   Additions   Disposals   Costs   Amortization   Impairment   Value 
Patents   15 years   $7,332,227   $219,241   $
      -
   $7,506,485   $(6,765,407)  $
-
   $786,061 
IPR&D   5 years    5,015,694    
-
    
-
    5,015,694    (3,554,784)   (1,460,910)   
-
 
Other intellectual assts   5 years    969,278    
-
    
-
    969,278    (969,278)   
-
    
-
 
Intangible assets, net       $13,317,199   $219,241   $
-
   $13,536,440   $(11,289,469)  $(1,460,910)  $786,061 

Intangible assets consist of the following:

 

   As of December 31, 2024 
   Amortization Period   Costs as of
January 1, 2024		   Additions   Disposals   Ending
Costs		   Accumulated
Amortization		   Accumulated
Impairment		   Net Book
Value		 
Patents  5-15 years   $7,332,227   $219,241   $              -   $7,506,485   $(6,765,407)  $-   $786,061 
IPR&D  5 years    5,015,694    -    -    5,015,694    (3,554,784)   (1,460,910)   - 
Other intellectual assets  5 years    969,278    -    -    969,278    (969,278)   -    - 
Intangible assets, net      $13,317,199   $219,241   $-   $13,536,440   $(11,289,469)  $(1,460,910)  $786,061 
   As of December 31, 2023
   Amortization  Costs as of
January 1,		           Ending   Accumulated   Accumulated   Net Book 
   Period  2023   Additions   Disposals   Costs   Amortization   Impairment   Value 
Patents  5-15 years  $7,220,776   $111,451   $              -   $7,332,227   $(6,703,750)  $-   $628,477 
IPR&D  5 years   5,015,694    -    -    5,015,694    (3,554,784)   (1,460,910)   - 
Other intellectual assets  5 years   969,278    -    -    969,278    (969,278)   -    - 
Intangible assets, net     $13,205,748   $111,451   $-   $13,317,199   $(11,227,812)  $(1,460,910)  $628,477 
Schedule of Future Estimated Amortization Expense

Future estimated amortization expense for the Company’s intangible assets is approximately as follows:

 

Future estimated amortization as of March 31, 2025    
Remainder of 2025  $57,000 
2026   76,000 
2027   76,000 
2028   76,000 
2029   76,000 
Thereafter   537,052 
   $898,052 

Future estimated amortization expense for the Company’s intangible assets is approximately as follows:

 

Future estimated amortization as of December 31, 2024    
2025   55,444 
2026   55,444 
2027   55,444 
2028   55,444 
2029   55,444 
Thereafter   508,841 
   $786,061