v3.25.4
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

4. Intangible Assets and Goodwill

The Company’s intangible assets and goodwill consisted of:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Tradename

 

$

12,909,254

 

 

$

11,267,698

 

Customer List

 

 

21,114,198

 

 

 

21,114,198

 

Non-Compete

 

 

1,667,536

 

 

 

1,667,536

 

Patents

 

 

2,271,980

 

 

 

2,271,980

 

Subtotal

 

$

37,962,968

 

 

$

36,321,412

 

Less: Accumulated Amortization

 

 

18,465,696

 

 

 

15,918,312

 

Translation Adjustments

 

 

(24,044

)

 

 

(80,069

)

Intangible Assets

 

$

19,473,228

 

 

$

20,323,031

 

Goodwill

 

$

9,907,657

 

 

$

9,907,657

 

Total:

 

$

29,380,885

 

 

$

30,230,688

 

 

 

 

Amortization expense for intangible assets for the years ended December 31, 2025 and 2024 were $2,547,383 and $2,568,349, respectively. The estimated aggregate amortization expense for each of the next five years, calculated on a similar basis, is as follows: 2026 - $2,220,266; 2027 - $1,891,897; 2028 - $1,775,230; 2029 - $1,622,696; and 2030 - $1,508,699.