Intangible Assets and Goodwill |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible Assets At both June 30, 2026 and December 31, 2025, the Company had recorded a gross intangible asset balance of $2,240,556, which is related to patent and intangible property rights acquired. Amortization expense of intangible assets was $37,343 and $34,860 for the three months ended June 30, 2026 and 2025, respectively. Amortization expense of intangible assets was $74,687 and $69,720 for the six months ended June 30, 2026 and 2025, respectively. Accumulated amortization totaled $1,249,538 and $1,174,851 at June 30, 2026 and December 31, 2025, respectively. The net amount of intangible assets of $991,018 at June 30, 2026, will be amortized over the weighted average remaining life of 8.50 years. Total estimated future amortization expense is as follows:
Goodwill The following table summarizes the Company’s goodwill balance:
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