v3.26.1
Finite Lived Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of 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

 
Schedule of Amortization of Intangible Assets with Finite Lives

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
Schedule of Intangible Assets (Excluding Goodwill)

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

 
Schedule of Future Expected Amortization Expense of Intangible Assets

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