| Intangible Assets |
(7)
Intangible Assets
Intangible
assets as of March 31, 2026 consisted of the following:
Schedule of Intangible Assets
| | |
Gross Carrying | | |
Accumulated | | |
Net | | |
Weighted | |
| | |
Amount | | |
Amortization | | |
Amount | | |
Average Life | |
| Indefinite-lived intangibles | |
| | | |
| | | |
| | | |
| | |
| Trade name | |
$ | 514,284 | | |
$ | – | | |
$ | 514,284 | | |
| Indefinite | |
| Total Indefinite-lived intangibles | |
| 514,284 | | |
| – | | |
$ | 514,284 | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Definite-lived intangibles | |
| | | |
| | | |
| | | |
| | |
| Intellectual property | |
| 9,080,288 | | |
| 690,024 | | |
| 8,390,264 | | |
| 10.17 | |
| Customer relationships | |
| 3,508,710 | | |
| 573,801 | | |
| 2,934,909 | | |
| 13.58 | |
| Licenses | |
| 1,250,000 | | |
| 364,583 | | |
| 885,417 | | |
| 1.45 | |
| Total definite-lived intangibles | |
| 13,838,998 | | |
| 1,628,408 | | |
| 12,210,590 | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Total intangible assets | |
$ | 14,353,282 | | |
$ | 1,628,408 | | |
$ | 12,724,874 | | |
| | |
Amortization
expense for the three months ended March 31, 2026 and 2025 was $420,082 and $27,233, respectively.
Estimated amortization expense for intangible assets for the next five years consists of the following as of March
31, 2026:
Schedule of Amortization of Assets
| | |
| | |
| | |
Amount | |
| 2026 (remaining) | |
$ | 1,260,246 | |
| 2027 | |
| 1,471,995 | |
| 2028 | |
| 1,055,328 | |
| 2029 | |
| 1,055,328 | |
| 2030 | |
| 1,055,328 | |
| Thereafter | |
| 6,312,365 | |
|
Total estimated amortization expense | |
$ | 12,210,590 | |
|