Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.24.2.u1
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2024
Intangible Assets [Abstract]  
Schedule of Finite-Lived Intangible Assets

June 30, 2024

Estimated Useful Life

Gross Carrying Amount

Accumulated Amortization

Net

Tradenames & trademarks

3-8 years

$

22,187,882

$

(8,848,299)

$

13,339,583

Developed technology

4 years

2,400,000

(1,350,000)

1,050,000

Backlog

1 year

600,000

(600,000)

$

25,187,882

$

(10,798,299)

$

14,389,583

December 31, 2023

Estimated Useful Life

Gross Carrying Amount

Accumulated Amortization

Net

Tradenames & trademarks

3-8 years

$

22,187,882

$

(7,729,549)

$

14,458,333

Developed technology

4 years

2,400,000

(1,050,000)

1,350,000

Backlog

1 year

600,000

(600,000)

$

25,187,882

$

(9,379,549)

$

15,808,333

Schedule of Estimated Future Amortization Expense

Year Ending December 31:

Q3 - Q4 2024

$

1,418,750

2025

2,837,500

2026

2,387,500

2027

2,237,500

2028

2,237,500

Thereafter

3,270,833

Total

$

14,389,583