| INTANGIBLE ASSETS, NET |
NOTE 6: INTANGIBLE ASSETS, NET Intangible assets, net Identifiable intangible assets consist of the following at March 31, 2026: | | | | | | | | | | | | | | Weighted Average | | | | | | | | | | | | Remaining Amortization | | | | | Accumulated | | | | | | Period (years) | | Gross Amount | | Amortization | | Net Amount | Customer relationships | | 12.4 | | $ | 1,441,045 | | | (1,070,234) | | $ | 370,811 | Trade name | | 4.9 | | | 868,355 | | | (661,197) | | | 207,158 | Noncompetition agreement | | 0.9 | | | 91,167 | | | (85,237) | | | 5,930 | Intellectual property | | 0.0 | | | 15,862 | | | (15,862) | | | — | Intangible assets: Proprietary technology | | 6.6 | | | 864,000 | | | (51,429) | | | 812,571 | Internally developed software | | 2.7 | | | 740,018 | | | (343,398) | | | 396,620 | Intangible assets: Patent | | 8.3 | | | 19,324 | | | (8,696) | | | 10,628 | Developed technology | | 3.4 | | | 440,530 | | | (173,861) | | | 266,669 | Total intangible assets, net | | | | $ | 4,480,301 | | $ | (2,409,914) | | $ | 2,070,387 |
Identifiable intangible assets consist of the following at December 31, 2025: | | | | | | | | | | | | | | Weighted Average | | | | | | | | | | | | Remaining Amortization | | | | | Accumulated | | | | | | Period (years) | | Gross Amount | | Amortization | | Net Amount | Customer relationships | | 12.7 | | $ | 1,445,244 | | | (1,020,533) | | $ | 424,711 | Trade name | | 5.0 | | | 868,355 | | | (634,917) | | | 233,438 | Noncompetition agreement | | 1.1 | | | 91,167 | | | (83,537) | | | 7,630 | Intellectual property | | 0.0 | | | 15,862 | | | (15,862) | | | — | Intangible assets: Proprietary technology | | 6.8 | | | 864,000 | | | (20,571) | | | 843,429 | Internally developed software | | 3.0 | | | 676,895 | | | (331,559) | | | 345,336 | Intangible assets: Patent | | 8.5 | | | 19,324 | | | (8,374) | | | 10,950 | Developed technology | | 3.6 | | | 440,530 | | | (123,466) | | | 317,064 | Total intangible assets, net | | | | $ | 4,421,377 | | $ | (2,238,819) | | $ | 2,182,558 |
Intangible assets are amortized over their estimated useful lives of 3 to 25 years using the straight-line method. Amortization expense was approximately $108,000 and $54,000 for the three months ended March 31, 2026 and 2025, respectively. Amortization expense over the next five years and thereafter is as follows: | | | | Years ending December 31, | | Amount | 2026 (nine months) | | $ | 436,133 | 2027 | | | 426,362 | 2028 | | | 380,961 | 2029 | | | 255,447 | 2030 | | | 187,350 | Thereafter | | | 384,134 | Total | | $ | 2,070,387 |
The above amounts do not include $160,400 of capitalized costs for internally developed software that are still in the development stage and not yet subject to amortization.
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