v3.26.3
Goodwill and Intangible Assets, Net
9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets, Net

Note 6. Goodwill and Intangible Assets, Net

 

The following table sets for the changes in the carrying amount of the Company’s Goodwill for the nine months ended September 30, 2026

 

   2026 
Balance, January 1  $249,986 
Addition:   52,731 
Balance, September 30, 2026  $302,717 

 

The Company performed an evaluation of the value of goodwill at December 31, 2025. Based upon this evaluation it was determined that there should be no adjustment to goodwill. There has been nothing noted during the nine months ended September 30, 2026 that would indicate that the value of goodwill should change through that date.

 

The following table sets forth the components of the Company’s intangible assets at September 30, 2026:

 

   Amortization
Period (Years)
   Cost   Accumulated Amortization   Net Book Value 
                 
Intangible Assets Subject to Amortization                    
Patents   -    22,160    (22,160)   - 
Trademarks   15    146,177    (64,794)   81,383 
Customer Relationships   10    600,000    (296,100)   303,900 
Non-Compete Agreements   5    22,000    (20,534)   1,466 
Total        790,337    (403,588)   386,749 

 

The aggregate amortization remaining on the intangible assets as of September 30, 2026 is as follows:

 

   Intangible
Assets
Amortization
 
     
2026 (3 months remaining)  $18,117 
2027   68,432 
2028   68,067 
2029   68,067 
2030   68,067 
2031   56,967 
Thereafter   39,032 
Total  $386,749 

 

Amortization expense for amortizable intangible assets for the nine months ended September 30, 2026 and September 30, 2025 was $54,350.