v3.26.1
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets

Note 8 – Goodwill and Intangible Assets

 

Goodwill

 

There were no changes in the carrying amount of goodwill during the six months ending June 30, 2026. The carrying value of goodwill was $15,596,105 and $15,596,105 as of June 30, 2026 and December 31, 2025 respectively.

  

Intangible Assets

 

As of June 30, 2026, the balances of intangible assets were as follows:

                     
    Type   Gross Value     Accumulated Amortization     Net Value  
Patents/IP – Fat Shark   Finite-lived   $ 824,857     $ (194,008 )   $ 630,849  
Trademark – Rotor Riot   Indefinite-lived     1,480,130       –       1,480,130  
Trade name – Rotor Lab   Finite-lived     46,000       (7,667 )     38,333  
Customer relationships – Rotor Lab   Finite-lived     190,000       (22,619 )     167,381  
Non-Compete Agreements – Rotor Lab   Finite-lived     233,000       (97,083 )     135,917  
Total intangible assets, net       $ 2,773,987     $ (321,377 )   $ 2,452,610  

 

Patents and intellectual property relate to the patents and technology know-how from the acquisition of Fat Shark in February 2024. Patents are amortized over 10 years. Trademarks relate to the brand name and recognition of Rotor Riot from the acquisition in February 2024.

 

Trade name for Rotor Lab is amortized over 5 years, customer relationships are amortized over 7 years and non-compete agreements are amortized over 2 years.

 

Amortization expense for the six months ended June 30, 2026 and 2025 was $117,265 and $40,841, respectively.