
	June 30, 2025
	Estimated Useful Life (Years)	Gross Carrying Amount		Additions		Impairment		Accumulated Amortization		Net Carrying Amount
Computer software	5 years	$	247,828	$	—	$	—	$	(243,173)	$	4,655
Operating licenses	Indefinite	9,399,004		—		—		—		9,399,004
Internally developed software	4-5 years	12,129,913		1,331,223		—		(12,873,681)		587,455
Material contracts	Indefinite	62,550		—		—		—		62,550
Customer relationships	8-14 years	19,993,533		1,351,372		—		(7,620,970)		13,723,935
Trademark	8-15 years	405,532		604,578		—		(150,650)		859,460
Non-compete agreements	5 years	100,000		—		—		(45,000)		55,000
Domain names	10 years	—		15,990		—		(666)		15,324
Software license agreement	Indefinite	—		500,000		—		—		500,000
Trade credits	5 years	1,500,000		—		—		—		1,500,000
		$	43,838,360	$	3,803,163	$	—	$	(20,934,140)	$	26,707,383


	December 31, 2024
	Estimated Useful Life (Years)	Gross Carrying Amount		Additions		Impairment		Accumulated Amortization		Net Carrying Amount
Computer software	5 years	$	247,828	$	—	$	—	$	(242,059)	$	5,769
Operating licenses	Indefinite	9,399,004		—		—		—		9,399,004
Internally developed software	4-5 years	10,078,087		2,051,826		—		(11,227,960)		901,953
Material contracts	Indefinite	62,550		—		—		—		62,550
Customer relationships	8-9 years	28,337,524		(37,400)		(8,306,591)		(6,504,390)		13,489,143
Trademark	8-15 years	427,531		(21,999)		—		(100,138)		305,394
Non-compete agreements	5 years	100,000		—		—		(35,000)		65,000
Trade credits	5 years	1,500,000		—		—		—		1,500,000
		$	50,152,524	$	1,992,427	$	(8,306,591)	$	(18,109,547)	$	25,728,813

The intangible assets include foreign currency translation adjustment in the amount of $73,152 for the six months ended June 30, 2025. Intangible asset balances are translated into U.S. dollars using exchange rates in effect at period end, and adjustments related to foreign currency translation are included in other comprehensive income. For the six months ended June 30, 2025, the Company did not record any disposal of intangible assets. During the year ended December 31, 2024, the Company disposed of intangible assets with a cost of $1,540 and accumulated amortization of $276.

The Company evaluated its intangible assets as of December 31, 2024 and determined there was an impairment in relation to its customer relationships in CRMS. The impairment is a result of reduced growth expectations and decreases in the estimated future cash flows of the asset group, which represented a triggering event that required an evaluation of the underlying finite-lived intangible assets for impairment. The Company used a discounted cash flow analysis to fair value the customer relationships. This calculation contains uncertainties as they require management to make assumptions including, but not limited to, future cash flows of the asset group, an appropriate discount rate and long-term growth rates. This fair value determination is categorized as Level 3 within the fair value hierarchy. As a result of this impairment, the Company recognized a non-cash impairment charge of $8,306,591 in the year ended December 31, 2024 in the Consolidated Statements of Operations and Comprehensive Income. The charge was recorded as part of other income (expense) in the Company’s Consolidated Statements of Operations and Comprehensive Income and has no impact on its cash flow, liquidity or compliance with debt covenants.