| INTANGIBLE ASSETS, NET |
5. INTANGIBLE ASSETS, NET
Intangible assets consist of the following:
| Schedule of intangible assets | |
| | |
| |
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Patents and trademarks | |
$ | 38,186 | | |
$ | 38,186 | |
| Platform | |
| 36,119,080 | | |
| 29,317,318 | |
| Customer lists and contracts | |
| 1,177,200 | | |
| 1,177,200 | |
| Licenses | |
| 237,576 | | |
| 216,901 | |
| Hosting implementation | |
| 43,400 | | |
| 43,400 | |
| Contract assets | |
| 340,326 | | |
| 277,600 | |
| Non-compete agreement | |
| 503,000 | | |
| – | |
| Acquired technologies | |
| 10,568,000 | | |
| – | |
| | |
| 49,026,768 | | |
| 31,070,605 | |
| Less: accumulated amortization | |
| (26,680,555 | ) | |
| (18,830,888 | ) |
| Intangible assets, net | |
$ | 22,346,213 | | |
$ | 12,239,717 | |
Amortization expense for the years ended December
31, 2025 and 2024 was $7,849,666 and $5,628,411, respectively.
Estimated future amortization expense is as follows:
| Schedule of intangible assets future amortization expense |
|
|
|
| 2026 |
|
$ |
7,906,985 |
|
| 2027 |
|
|
4,908,203 |
|
| 2028 |
|
|
2,102,593 |
|
| 2029 |
|
|
1,040,689 |
|
| 2030 |
|
|
1,040,689 |
|
| Thereafter |
|
|
5,347,054 |
|
| Total amortization expense |
|
$ |
22,346,213 |
|
|