| Intangible Assets and Goodwill |
Intangible Assets and Goodwill Intangible assets consisted of the following as of June 30, 2026, and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Customer relationships | 4.5– 15 years | | $ | 11,613,000 | | | $ | 11,613,000 | | | Tradename | 15 years | | 783,000 | | | 783,000 | | | Trademark | 10-15 years | | 533,864 | | | 533,864 | | | Backlog | 2-5 years | | 3,210,000 | | | 3,210,000 | | | Non-compete agreement | 3-5 years | | 680,000 | | | 680,000 | | | | | 16,819,864 | | | 16,819,864 | | | Accumulated amortization | | | (12,057,354) | | | (11,448,262) | | | Intangible assets, net | | | $ | 4,762,510 | | | $ | 5,371,602 | |
The intangible assets with the exception of the trademarks were recorded as part of the acquisitions of Corvus, Merrison, SSI, LSG, and GTMR. Amortization expense for the three and six months ended June 30, 2026 was $304,546 and $609,092, respectively, and amortization expense for the three and six months ended June 30, 2025 was $355,537 and $711,074, respectively. The intangible assets are being amortized based on the estimated future lives as noted above. Future amortization of the intangible assets for the next five years as of June 30 is as follows: | | | | | | | Remainder of the year ending December 31, 2026 | $ | 609,091 | | | Year ending 2027 | 1,014,558 | | | Year ending 2028 | 528,784 | | | Year ending 2029 | 441,568 | | | Year ending 2030 | 378,363 | | | Year ending 2031 and thereafter | 1,790,146 | | | Total | $ | 4,762,510 | |
The goodwill rollforward for the six months ended June 30, 2026, reflects no changes, as follows: | | | | | | | | | | | | | | | | | | | | | Corvus | | SSI | | | | Total | | December 31, 2025 | $ | 1,958,741 | | | $ | 8,718,093 | | | | | $ | 10,676,834 | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | $ | 1,958,741 | | | $ | 8,718,093 | | | | | $ | 10,676,834 | |
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