v3.26.1
Intangible Assets
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 8. Intangible Assets

 

Intangible assets consisted of the following:

 

               
    March 31,
2026		     December 31,
2025		  
Intangible assets, gross   $ 16,498,587     $ 16,498,587  
Accumulated amortization     (9,182,297 )     (8,975,815 )
Intangible assets, net   $ 7,316,290     $ 7,522,772  

 

Customer relationship intangible assets consisted of the following:

 

                 
Customer relationships, gross   $ 48,093,160     $ 48,093,160  
Accumulated amortization     (11,097,708 )     (9,909,103 )
Customer relationships, net   $ 36,995,452     $ 38,184,057  

 

Amortization expense was approximately $1,395,088 and $2,303,957 for the three months ended March 31, 2026 and 2025, respectively.

 

The Company evaluates long-lived assets and intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. No impairment charges related to intangible assets were recorded during the three months ended March 31, 2026.

 

Goodwill was fully impaired during the year ended December 31, 2025. Accordingly, the Company had no goodwill recorded as of March 31, 2026 or December 31, 2025.