v3.26.1
Intangible Assets, Net (Other than Goodwill)
 3 Months Ended
Mar. 31, 2026
Intangible Assets, Net (Other than Goodwill) [Abstract]  
INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

NOTE 3 – INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

 

The Company’s intangible assets primarily consist of acquired and developed software that is being amortized over their estimated useful lives as indicated below. The following is a summary of activity related to intangible assets for the three months ended March 31, 2026:

 

   Acquired and         
   Developed         
   Software   Patents   Total 
             
Useful Lives   5 Years    10 Years      
                
Carrying Value at December 31, 2025  $50,147   $97,244   $147,391 
Additions   
-
    
-
    
-
 
Amortization   (7,101)   (4,595)   (11,696)
Carrying Value at March 31, 2026  $43,046   $92,649   $135,695 

The following is a summary of intangible assets as of March 31, 2026:

 

   Acquired and         
   Developed         
   Software   Patents   Total 
Cost  $1,803,273   $183,899   $1,987,172 
Accumulated amortization   (1,760,227)   (91,250)   (1,851,477)
Carrying Value at March 31, 2026  $43,046   $92,649   $135,695 

 

Amortization expense totaled approximately $12,000 and $30,000 for the three months ended March 31, 2026, and 2025, respectively.

 

Future expected amortization of intangible assets is as follows:

 

2026 (Remainder of the Year)  $32,331 
2027   37,242 
2028   24,057 
2029   18,389 
2030   15,169 
Thereafter   8,507 
   $135,695 

 

There were no impairment indicators noted with respect to Company’s long-lived assets, including intangible assets, as of March 31, 2026.