v3.26.1
Intangible Assets, Net (Other than Goodwill)
 6 Months Ended
Jun. 30, 2026
Intangible Assets, Net (Other than Goodwill) [Abstract]  
INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

NOTE 3 – INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

 

The Company’s intangible assets primarily consist of acquired and developed software that is being amortized over their estimated useful lives as indicated below. The following is a summary of activity related to intangible assets for the six months ended June 30, 2026:

 

    Acquired and              
    Developed              
    Software     Patents     Total  
                   
Useful Lives     5 Years       10 Years          
                         
Carrying Value at December 31, 2025   $ 50,147     $ 97,244     $ 147,391  
Additions     -       -       -  
Amortization     (14,201 )     (9,195 )     (23,396 )
Carrying Value at June 30, 2026   $ 35,946     $ 88,049     $ 123,995  

  

The following is a summary of intangible assets as of June 30, 2026:

 

    Acquired and              
    Developed              
    Software     Patents     Total  
Cost   $ 1,803,273     $ 183,899     $ 1,987,172  
Accumulated amortization     (1,767,327 )     (95,850 )     (1,863,177 )
Carrying Value at June 30, 2026   $ 35,946     $ 88,049     $ 123,995  

 

Amortization expense totaled approximately $23,000 and $60,000 for the six months ended June 30, 2026, and 2025, respectively.

 

Future expected amortization of intangible assets is as follows:

 

2026 (Remainder of the Year)   $ 20,631  
2027     37,242  
2028     24,057  
2029     18,389  
2030     15,169  
Thereafter     8,507  
    $ 123,995  

 

There were no impairment indicators noted with respect to Company’s long-lived assets, including intangible assets, as of June 30, 2026.