v3.25.2
Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities

The table below summarizes the estimated fair value of the assets acquired and liabilities assumed:

 

Consideration     
      
Cash  $1,800,000 
Note payable   3,700,000 
      
Fair value of consideration transferred  $5,500,000 
      
Recognized amounts of identifiable assets acquired and liabilities assumed:     
      
License agreements  $4,900,000 
Trademarks/Tradenames   600,000 
Total assets acquired   5,500,000 
      
Total identifiable net assets   5,500,000 
      
Goodwill  $- 
Schedule of Intangible Assets

Intangibles consisted of the following at June 30, 2025 and December 31, 2024, respectively:

 

        
Type  June 30, 2025  December 31, 2024 

Estimated Useful

Lives (Years)

          
License agreements  $4,900,000   $4,900,000    15 
Tradenames/trademarks   600,000    600,000    5 
                
Less: accumulated amortization   (670,002)   (446,668)     
Intangibles - net  $4,829,998   $5,053,332      
Schedule of Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding years and thereafter is as follows:

 

For the Years Ending December 31:   
    
2025 (6 Months)  $223,332 
2026   446,667 
2027   446,667 
2028   446,667 
2029   326,665 
Thereafter   2,940,000 
Total  $4,829,998