Finite Lived Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Finite Lived Intangible Assets and Goodwill

Note 8 - Finite Lived Intangible Assets and Goodwill

Goodwill

The following table presents goodwill as of June 30, 2026:


Goodwill, beginning of period	$	244,635
Additions from acquisition (Note 3)		1,288,000
Goodwill, end of period	$	1,532,635

There were no changes to goodwill during the three months ended June 30, 2025.

Intangible Assets

Amortization of intangible assets with finite lives is calculated on the straight-line method based on the following estimated useful lives:


Website and software development costs		5 years
Intellectual property		5-15 years
Customer relationships		7 years

The following table presents intangible assets other than goodwill as of June 30, 2026 and December 31, 2025:


	June 30, 2026
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intellectual property	$	11,852,000	$	637,000	$	11,215,000
Trade names		1,800,000		53,333		1,746,667
Website & software development costs		330,482		174,233		156,249
Customer relationships		9,154,000		912,730		8,241,270
Total	$	23,136,482	$	1,777,296	$	21,359,186

	December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intellectual property	$	152,000	$	106,500	$	45,500
Website & software development costs		225,907		151,642		74,265
Customer relationships		354,000		354,000		-
Total	$	731,907	$	612,142	$	119,765

During the three months ended June 30, 2026 and June 30, 2025, amortization expense was $653,331 and $30,867, respectively. During the six months ended June 30, 2026 and June 30, 2025, amortization expense was $1,165,154 and $61,734 respectively.

Future expected amortization expense of intangible assets is as follows:


Year Ending December 31,
2026 (remaining)	$	1,321,186
2027		2,632,084
2028		2,585,501
2029		2,567,477
2030		2,547,143
Thereafter		9,705,794
Total	$	21,359,186