v3.25.3
INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE F — INTANGIBLE ASSETS

 

The following table summarizes intangible assets included on the consolidated balance sheet:

 

   June 30, 2025 
   Gross   Accumulated
Amortization		   Net 
Amortizing intangible assets:               
Patent portfolio  $1,259,864   $(588,097)  $671,767 
Developed technology   17,941,538    (4,243,588)   13,697,950 
Total  $19,201,402   $(4,831,685)  $14,369,717 

 

   December 31, 2024 
   Gross   Accumulated
Amortization		   Net 
Amortizing intangible assets:               
Patent portfolio  $1,259,864   $(517,960)  $741,904 
In-process research and development   17,755,347    (2,372,881)   15,382,466 
Total  $19,015,211   $(2,890,841)  $16,124,370 

 

Total amortization expense including amortization related to developed software was $966,561 and $626,452 for the three months ended June 30, 2025 and 2024, respectively. Total amortization expense including amortization related to developed software was $1,897,472 and $661,513 for the six months ended June 30, 2025 and 2024, respectively.

 

 

Future amortization of intangible assets are estimated to be as follows:

 

     
Years Ending December 31:    
2025 (remaining 6 months)  $1,742,683 
2026   3,824,905 
2027   3,739,302 
2028   3,696,501 
2029   1,304,560 
Thereafter   61,766 
Total  $14,369,717