Intangible assets, net

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 8. Intangible assets, net

Gross carrying values and accumulated amortization of intangible assets:

		December 31, 2025														December 31, 2024
		Useful		Gross Carrying				Accumulated								Gross Carrying				Accumulated
		Life		Amount				Amortization				Net				Amount				Amortization				Net
Amortizing intangible assets
Customer relationships		6 years		$	1,352,200			$	(1,331,700	)		$	20,500			$	1,352,200				(1,318,033	)		$	34,167
Trade name		6 years			2,577,000				(2,435,000	)			142,000				2,577,000				(2,314,769	)			262,231
Technology		6 years			4,754,800				(2,911,676	)			1,843,124				3,254,800				(2,737,567	)			517,233
Software agreements		6 years			14,450,000				(14,035,000	)			415,000				14,450,000				(11,545,000	)			2,905,000
Gaming license		6 years			4,020,000				(3,015,000	)			1,005,000				4,020,000				(2,345,000	)			1,675,000
Internally developed software		2 - 10 years			3,316,923				(1,804,924	)			1,511,999				3,316,923				(1,450,754	)			2,342,969
Domain name		15 years			12,035,000				(2,324,165	)			9,710,835				6,935,000				(2,016,417	)			4,832,565
				$	42,505,923			$	(27,857,465	)		$	14,648,458			$	35,905,923			$	(23,727,540	)		$	12,569,165

Amortization expense with respect to intangible assets for the year ended December 31, 2025 and 2024 totaled $4,234,680 and $5,011,329, respectively, which is included in depreciation and amortization in the Statements of Operations. For the year ended December 31, 2025, the Company determined there was no impairment of long-lived assets

During the year ended December 31, 2022, the Company determined that there was an impairment of long-lived assets of $412,450, which relates to a project no longer being pursued by the Company. In connection with the annual review of goodwill and intangibles for the year ended December 31, 2023, the Company determined that it was necessary to write down goodwill by $5.65 million for TinBu and $1.06 million for Global Gaming. The total impairment charges related to goodwill were $6.71 million for the year ended December 31, 2023. It was also determined that there was impairment of certain intangible assets related to Global Gaming. As a result, for the year ended December 31, 2023 the Company recorded impairment charges of $488 thousand to trade names and trademarks and $311 thousand to technology acquired from Global Gaming. The total impairment charges to intangible assets for the year ended December 31, 2023 were $799 thousand

Similarly the company performed an impairment analysis for the three months ended September 30th, 2024 and determined that impairment charges were necessary. Impairments of goodwill for $1.6 million against Tinbu’s goodwill and $1.9 million against Global Gaming’s goodwill were recorded and $817 thousand against intangibles of Global Gaming was recorded. This consisted of impairments against Trade Names & Technology in the amount of $547 thousand, Technology in the amount of $119 thousand, and Customer Relationships in the amount of $150 thousand. There were no other impairments identified or recorded for the year ended December 31, 2024 or for the year ended December 31, 2025.

Estimated amortization expense for years of useful life remaining is as follows:

Years ending December 31,		Amount
2026		$	2,197,764
2027			1,154,181
2028			678,075
2029			643,941
2030			598,539
Thereafter			9,375,958
Total		$	14,648,458

The Company had software development costs of $476,850 related to projects not placed in service as of both December 31, 2025 and December 31, 2024, which is included in intangible assets in the Company’s consolidated balance sheets. Amortization will be calculated using the straight-line method over the appropriate estimated useful life when the assets are put into service.