Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.24.3
Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Intangible Assets [Abstract]  
Schedule of Finite-Lived Intangible Assets

September 30, 2024

Estimated Useful Life

Gross Carrying Amount

Accumulated Amortization

Net

Tradenames & trademarks

8 years

$

17,900,000

$

(5,119,792)

$

12,780,208

Developed technology

4 years

2,400,000

(1,500,000)

900,000

Backlog

1 year

600,000

(600,000)

—

$

20,900,000

$

(7,219,792)

$

13,680,208

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

Quarter Ending and Year Ending December 31:

Q4 2024

$

709,375

2025

2,837,500

2026

2,387,500

2027

2,237,500

2028

2,237,500

Thereafter

3,270,833

Total

$

13,680,208