Intangible Assets and Goodwill |
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| Intangible Assets and Goodwill | Note 11 - Intangible Assets and Goodwill
The Company’s intangible assets consist of the following:
Amortization expense for the six months ended June 30, 2026 and December 31, 2025 was $81,219 and $119,153, respectively.
The following table summarizes the useful lives of the Company’s intangible assets:
Future amortization of intangible assets as of December 31, 2025 is as follows:
During the twelve months ended December 31, 2025, the Company identified a triggering event requiring analysis of the Company’s patents. The Company determined the patents were impaired and recognized impairment expense of $4,950,950 during the twelve months ended December 31, 2025.
On August 8, 2025, the Company entered into a revenue sharing agreement with a related party pursuant to which it obtained the right to receive 10% of the gross revenue generated by LetsBonk.fun in perpetuity in exchange for the issuance of Series C Preferred Stock. The counterparty to the arrangement is a related party through common ownership and governance.
On December 3, 2025, the Company announced that its revenue participation interest in LetsBonk.fun had increased from 10% to 51%. The Company accounts for the arrangement based on the contractual participation rights in effect during the reporting period. On December 10, 2025 the increase in revenue participation was consummated. In relation to this increase, the Company transferred no consideration to the related party.
The Company has recorded this arrangement as an intangible asset, which is amortized over its estimated useful life of 4.25 years. Related party revenue sharing as of six months ended June 30, 2026 year ended December 31, 2025 totaled $1,792,146 and $2,060,968 respectively.
As of June 30, 2026 and December 31, 2025, goodwill totaled $14,147,778 and $14,147,778, respectively.
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