| Intangible Assets |
Note 8 – Intangible Assets The following identifiable intangible assets were recognized as part of the Grid AI acquisition and are not classified as held for sale. These assets are amortized on a straight-line basis over their estimated useful lives: | | | | | | | | Estimated | | March 31, | | | Useful Life | | 2026 | Developed Technology | | 10 years | | $ | 19,293,000 | Less: accumulated amortization | | | | | (964,650) | Developed Technology, net | | | | $ | 18,328,350 | Customer Relationships | | 8 years | | $ | 2,306,000 | Less: accumulated amortization | | | | | (144,125) | Customer Relations, net | | | | $ | 2,161,875 | Trade Name | | 10 years | | $ | 813,000 | Less: accumulated amortization | | | | | (40,650) | Trade Name, net | | | | $ | 772,350 |
| | | | | | Estimated | Year ending December 31, | | Amortization Expense | 2026 | | | 2,298,850 | 2027 | | | 2,298,850 | 2028 | | | 2,298,850 | 2029 | | | 2,298,850 | 2030 and thereafter | | | 12,067,175 | Total | | $ | 21,262,575 |
Amortization expense related to intangible assets was approximately $0.6 million for the three months ended March 31, 2026.
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