Goodwill and Intangible Assets (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Other Intangible Assets |
Goodwill
and intangible assets consist of the following:
Schedule of Other Intangible Assets
| | |
June 30, 2025 | | |
December 31,
2024 | |
| Goodwill | |
$ | 20,007,670 | | |
$ | 20,007,670 | |
|
| Schedule of Goodwill and Intangible Assets |
Schedule of Goodwill and Intangible Assets
| | |
June 30, 2025 | | |
December 31,
2024 | |
| Intangible Assets | |
| | | |
| | |
| Customer relationships | |
$ | 1,936,582 | | |
$ | 1,700,000 | |
| Trade name | |
| 2,400,000 | | |
| 2,400,000 | |
| Developed technology | |
| 2,836,582 | | |
| 2,600,000 | |
| Intangible assets, gross | |
| 7,173,164 | | |
| 6,700,000 | |
| Accumulated amortization | |
| (3,532,647 | ) | |
| (2,431,668 | ) |
| Intangible assets, net | |
$ | 3,640,517 | | |
$ | 4,268,332 | |
|
| Schedule of Identifiable Intangibles Assets Estimated Remaining Useful Lives |
Identifiable
intangibles are amortized over their estimated remaining useful lives, which are as follows:
Schedule of Identifiable Intangibles Assets Estimated Remaining Useful Lives
| | |
| | |
| Description | |
Weighted Average Useful Life (in years) | |
| Customer relationships | |
| 3 | |
| Trademarks, trade names and service marks | |
| 3 | |
| Developed technology | |
| 3 | |
| Remaining useful lives | |
| 3 | |
|
| Schedule of Amortization Expense on Intangible Assets |
Amortization
expense on intangible assets was as follows:
Schedule of Amortization Expense on Intangible Assets
| | |
Six Months
Ended
June 30, 2025 | | |
Six Months
Ended
June 30, 2024 | |
| Amortization expense | |
$ | 1,100,979 | | |
$ | 1,215,834 | |
|
| Schedule of Estimated Amortization Expense |
Estimated
amortization expense for the Company is as follows:
Schedule of Estimated Amortization Expense
| | |
| | |
| 2025 (Remainder) | |
$ | 1,125,190 | |
| 2026 | |
| 2,291,888 | |
| 2027 | |
| 157,722 | |
| 2028 | |
| 65,717 | |
| Total | |
$ | 3,640,517 | |
|