| Finite Lived Intangible Assets and Goodwill |
Note 8 - Finite Lived Intangible Assets and Goodwill 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 | | There were no changes to goodwill during the three months ended June 30, 2025. Intangible Assets 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 | 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 | | During the three months ended June 30, 2026 and June 30, 2025, amortization expense was $653,331 and $30,867, respectively. During the six months ended June 30, 2026 and June 30, 2025, amortization expense was $1,165,154 and $61,734 respectively. 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 | |
|
Note 4 - Intangible Assets Other Than Goodwill The following table presents intangible assets other than goodwill as of December 31, 2025 and 2024: | | | 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 | | | | | 2024 | | | | | Gross Carrying Amount | | | Accumulated Amortization | | | Net Carrying Amount | | | Intellectual property | | $ | 152,000 | | | $ | 81,024 | | | $ | 70,976 | | | Website & software development costs | | | 225,907 | | | | 106,461 | | | | 119,446 | | | Customer relationships | | | 354,000 | | | | 320,286 | | | | 33,714 | | | Total | | $ | 731,907 | | | $ | 507,770 | | | $ | 224,137 | | During each of the years ended December 31, 2025 and 2024, amortization expense was $104,372 and $123,467, respectively. Future expected amortization expense of intangible assets is as follows: | Year Ending December 31, | | | | | 2026 | | | 66,181 | | | 2027 | | | 50,083 | | | 2028 | | | 3,500 | | | Total | | $ | 119,765 | |
|