| SCHEDULE OF INTANGIBLE ASSETS |
All
of the Company’s current identified intangible assets were assumed upon consummation of the Empire acquisition on October 1, 2021.
Identified intangible assets consisted of the following at the dates indicated below:
SCHEDULE
OF INTANGIBLE ASSETS
| | |
June 30, 2025 | | |
Remaining |
| | |
Gross carrying | | |
Accumulated | | |
Carrying | | |
estimated |
| | |
amount | | |
amortization | | |
value | | |
useful life |
| Intellectual Property | |
$ | 3,036,000 | | |
$ | (2,277,000 | ) | |
$ | 759,000 | | |
1.5 years |
| Customer List | |
| 2,239,000 | | |
| (839,625 | ) | |
| 1,399,375 | | |
6.5 years |
| Licenses | |
| 21,274,000 | | |
| (7,977,750 | ) | |
| 13,296,250 | | |
6.5 years |
| Total intangible assets, net | |
$ | 26,549,000 | | |
$ | (11,094,375 | ) | |
$ | 15,454,625 | | |
|
| | |
December 31, 2024 | | |
Remaining |
| | |
Gross carrying | | |
Accumulated | | |
Carrying | | |
estimated |
| | |
amount | | |
amortization | | |
value | | |
useful life |
| Intellectual Property | |
$ | 3,036,000 | | |
$ | (1,973,400 | ) | |
$ | 1,062,600 | | |
2 years |
| Customer List | |
| 2,239,000 | | |
| (727,675 | ) | |
| 1,511,325 | | |
7 years |
| Licenses | |
| 21,274,000 | | |
| (6,914,050 | ) | |
| 14,359,950 | | |
7 years |
| Total intangible assets, net | |
$ | 26,549,000 | | |
$ | (9,615,125 | ) | |
$ | 16,933,875 | | |
|
|
| SCHEDULE OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS |
Total
estimated amortization expense for our intangible assets for the years 2025 through 2028 is as follows:
SCHEDULE
OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS
| Year ended December 31, | |
| |
| 2025 (remaining) | |
$ | 1,479,250 | |
| 2026 | |
| 2,806,700 | |
| 2027 | |
| 2,351,300 | |
| 2028 | |
| 2,351,300 | |
| Thereafter | |
| 6,466,075 | |
|