| INTANGIBLE ASSETS |
7.
INTANGIBLE ASSETS
The
definite-lived intangible assets, to be amortized over 20 years, balances, and activity for the year ended December 31, 2025 and year
ended December 31, 2024 consisted of the following:
SCHEDULE
OF INTANGIBLE ASSETS
| | |
| |
2025 | | |
2024 | |
| | |
Useful Life | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | |
| Developed technology assets | |
20 years | |
$ | 22,260,000 | | |
$ | 5,566,000 | | |
| 16,694,000 | | |
$ | 22,260,000 | | |
$ | 4,452,000 | | |
| 17,808,000 | |
| Acquired assets | |
1 -17 years | |
$ | 325,000 | | |
$ | 25,000 | | |
| 300,000 | | |
$ | - | | |
$ | - | | |
| - | |
| | |
| |
$ | 22,585,000 | | |
$ | 5,591,000 | | |
$ | 16,994,000 | | |
$ | 22,260,000 | | |
$ | 4,452,000 | | |
$ | 17,808,000 | |
The
following table represents future amortization of developed technologies for the years ending December 31:
SCHEDULE
OF FUTURE AMORTIZATION OF DEVELOPED TECHNOLOGIES
| | |
| | |
| 2026 | |
$ | 1,138,000 | |
| 2027 | |
$ | 1,137,000 | |
| 2028 | |
$ | 1,130,000 | |
| 2029 | |
$ | 1,130,000 | |
| 2030 | |
$ | 1,130,000 | |
| thereafter | |
$ | 11,329,000 | |
|