Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2026

Goodwill and Intangible Assets [Abstract]

GOODWILL AND INTANGIBLE ASSETS

5 - GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following is a summary of activity in goodwill for the nine months ended September 30, 2026:

Balance at December 31, 2025		$	5,101,625
Foreign exchange transactions			(17,922	)
Balance at September 30, 2026		$	5,083,703

The following is a summary of activity in goodwill for the year ended December 31, 2025:

Balance at December 31, 2024		$	4,779,625
Foreign exchange transactions			322,000
Balance at December 31, 2025		$	5,101,625

Intangible Assets

Intangible assets consist of the following:

		As of September 30, 2026
		Amortization Period			Costs as of January 1, 2026				Additions				Disposals				Ending Costs				Accumulated Amortization				Accumulated Impairment				Net Book Value
Patents		15 years			$	7,790,596			$	176,859			$	-			$	7,967,455			$	(6,909,241	)		$	-			$	1,058,214
Proprietary technology		10 years				6,904,306				-				-				6,904,306				(919,363	)			-				5,984,943
Intangible assets, net					$	14,694,902			$	176,859			$	-			$	14,871,761			$	(7,828,604	)		$	-			$	7,043,157

		As of December 31, 2025
		Amortization Period			Costs as of January 1, 2025				Additions				Disposals				Ending Costs				Accumulated Amortization				Accumulated Impairment				Net Book Value
Patents		15 years			$	7,551,468			$	239,128			$	-			$	7,790,596			$	(6,844,695	)		$	-			$	945,901
Proprietary technology		10 years				-				6,904,306				-				6,904,306				(423,343	)			-				6,480,963
Intangible assets, net					$	7,551,468			$	7,143,434			$	-			$	14,694,902			$	(7,268,038	)		$	-			$	7,426,864

Intangible assets primarily consist of proprietary technology, patents, patent applications, and in-process research and development (“IPR&D”) and other identifiable intangible assets. Intangible assets are generally amortized on a straight-line basis over the periods of benefit. The Company’s patents have estimated remaining economic useful lives ranging from 5-15 years and the proprietary technology acquired from Crowdkeep Inc. has an estimated remaining useful life of 10 years. Management reviews intangible assets for impairment when events and circumstances warrant. During the three and nine months ended September 30, 2026 and 2025, there were no events that necessitated additional impairment of intangible assets.

Intangible asset amortization expense for the three months ended September 30, 2026 and 2025, totaled $189,890 and $187,400, respectively. Intangible asset amortization expense for the nine months ended September 30, 2026 and 2025, totaled $560,566 and $314,671, respectively.

Future estimated amortization expense for the Company’s intangible assets is approximately as follows:

Future estimated amortization as of September 30, 2026
2026 – Remaining		$	194,746
2027			778,983
2028			778,983
2029			778,983
2030			778,983
Thereafter			3,732,479
		$	7,043,157