v3.26.1
Long-Lived Assets
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Long-Lived Assets
Note 5 – Long-Lived Assets
 
Property and equipment, net – Property and equipment, net consists of the following:
 
 
 
June 30, 2026
 
 
December 31, 2025
 
Plant and equipment
 
 
113,159
 
 
 
113,159
 
Office and storage equipment
 
 
288
 
 
 
288
 
Furniture and fixtures
 
 
468
 
 
 
468
 
Leasehold improvements
 
 
95,373
 
 
 
95,373
 
Property and equipment, gross
 
 
209,288
 
 
 
209,288
 
Less: Accumulated depreciation and amortization
 
 
(204,244
)
 
 
(196,919
)
Property and equipment, net
 
$
5,044
 
 
$
12,369
 
 
Depreciation expense of $3,244 and $26,144 was included in general and administrative expenses for the three months ended June 30, 2026 and 2025, respectively, and $7,325 and $51,789 for the six months then ended.
Intangible assets, net – Intangible assets, net consist of the following:
 
 
 
June 30, 2026
 
 
December 31, 2025
 
Website development
 
 
148,039
 
 
 
148,039
 
Tradename/transferred IP
 
 
353,223
 
 
 
457,116
 
Customer base
 
 
38,251
 
 
 
44,267
 
Non-competes
 
 
3,333
 
 
 
3,857
 
Brand names
 
 
3,264,000
 
 
 
3,264,000
 
Intangible assets, gross
 
 
3,806,846
 
 
 
3,917,279
 
Less: Accumulated amortization
 
 
(1,976,951
)
 
 
(1,714,700
)
Intangible assets, net
 
$
1,829,895
 
 
$
2,202,579
 
Goodwill
 
$
2,972,280
 
 
$
2,972,280
 
 
Amortization expense was $129,143 and $158,724 for the three months ended June 30, 2026 and 2025, respectively, and $262,282 and $283,348 for the six months then ended, and is included in general and administrative expenses.
 
During the three months ended March 31, 2026, the Company recognized an impairment loss of $110,402 on the Gem&Bolt tradename, customer base, and non-competes following the cessation of Gem&Bolt production. No additional impairment of intangible assets or goodwill was recognized during the three months ended June 30, 2026; see Note 6 for the impairment of the Company’s investment in Full Glass recognized in the second quarter of 2026.