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

Note 9 – Goodwill and Intangible Assets

  

Goodwill

 

There were no changes in the carrying amount of goodwill during the nine months ending September 30, 2026. The carrying value of goodwill was $15,596,105 and $15,596,105 as of September 30, 2026 and December 31, 2025 respectively.

  

Intangible Assets

 

As of September 30, 2026, the balances of intangible assets were as follows:

                
   Type  Gross Value   Accumulated Amortization   Net Value 
Patents/IP – Fat Shark  Finite-lived  $824,857   $(214,430)  $610,427 
Trademark – Rotor Riot  Indefinite-lived   1,480,130    –    1,480,130 
Trade name – Rotor Lab  Finite-lived   46,000    (9,967)   36,033 
Customer relationships – Rotor Lab  Finite-lived   190,000    (29,405)   160,595 
Non-Compete Agreements – Rotor Lab  Finite-lived   233,000    (126,208)   106,792 
Total intangible assets, net     $2,773,987   $(380,010)  $2,393,977 

 

Patents and intellectual property relate to the patents and technology know-how from the acquisition of Fat Shark in February 2024. Patents are amortized over 10 years. Trademarks relate to the brand name and recognition of Rotor Riot from the acquisition in February 2024.

 

Trade name for Rotor Lab is amortized over 5 years, customer relationships are amortized over 7 years and non-compete agreements are amortized over 2 years.

 

Amortization expense for the nine months ended September 30, 2026 and 2025 was $175,898 and $61,266, respectively.