| Schedule of Goodwill |
The following presents a summary of the Company’s
goodwill as of December 31, 2024, and December 31, 2023.
Schedule of Goodwill
| Year ended December 31, | |
2024 | | |
2023 | |
| Goodwill | |
| | | |
| | |
| Beginning balance | |
$ | 6,058,000 | | |
$ | 19,266,276 | |
| Acquisition | |
| - | | |
| - | |
| Impairment | |
| (6,058,000 | ) | |
| (13,208,276 | ) |
| Ending balance | |
$ | - | | |
$ | 6,058,000 | |
|
| Schedule of Finite Lived Intangible Assets |
The following presents a summary of the Company’s
finite-lived intangible assets as of December 31, 2024, and December 31, 2023:
As of December 2024:
Schedule of Finite Lived Intangible Assets
| | |
Remaining
Useful Life in
Years | | |
Gross Carrying Amount | | |
Accumulated
Amortization | | |
Accumulated
Impairment | | |
Net
Carrying amount | |
| | |
| | |
(A) | | |
(B) | | |
(C) | | |
(A-B-C) | |
| Market related intangible assets | |
| - | | |
$ | 2,100,000 | | |
$ | 178,633 | | |
$ | 1,921,367 | | |
$ | - | |
| Customer relationships | |
| - | | |
| 2,000,000 | | |
| 134,848 | | |
| 1,865,152 | | |
| - | |
| Developed technology | |
| - | | |
| 6,700,000 | | |
| 1,696,172 | | |
| 5,003,828 | | |
| - | |
| Total intangible assets | |
| - | | |
| 10,800,000 | | |
| 2,009,653 | | |
| 8,790,347 | | |
| - | |
As of December 31, 2023:
| | |
Remaining
Useful Life in
Years | |
Gross Carrying Amount | | |
Accumulated
Amortization | | |
Accumulated
Impairment | | |
Net Carrying amount | |
| | |
| |
(A) | | |
(B) | | |
(C) | | |
(A-B-C) | |
| Market related intangible assets | |
6.87 Years | |
$ | 2,100,000 | | |
$ | 169,116 | | |
$ | 1,865,668 | | |
$ | 65,216 | |
| Customer relationships | |
8.87 Years | |
| 2,000,000 | | |
| 128,430 | | |
| 1,814,795 | | |
| 56,775 | |
| Developed technology | |
5.87 Years | |
| 6,700,000 | | |
| 1,081,245 | | |
| 2,019,001 | | |
| 3,599,754 | |
| Total intangible assets | |
- | |
| 10,800,000 | | |
| 1,378,791 | | |
| 5,699,464 | | |
| 3,721,745 | |
|