Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Intangible Assets (Tables)

v3.25.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill

HEC

SUNation

Total

December 31, 2023

$

9,829,212

$

10,716,638

$

20,545,850

Goodwill impairment loss

(3,101,981)

—

(3,101,981)

December 31, 2024

$

6,727,231

$

10,716,638

$

17,443,869

Gross goodwill

9,829,212

10,716,638

20,545,850

Accumulated impairment loss

(3,101,981)

—

(3,101,981)

Balance at December 31, 2024

$

6,727,231

$

10,716,638

$

17,443,869
Schedule of Finite-Lived Intangible Assets

December 31, 2024

Estimated Useful Life

Gross Carrying Amount

Accumulated Amortization

Impairment Loss

Net

Tradenames & trademarks

8 years

$

17,900,000

$

(5,679,167)

$

—

$

12,220,833

Developed technology

4 years

2,400,000

(1,650,000)

(750,000)

—

$

20,300,000

$

(7,329,167)

$

(750,000)

$

12,220,833

December 31, 2023

Estimated Useful Life

Gross Carrying Amount

Accumulated Amortization

Impairment Loss

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:

2025

$

2,237,500

2026

2,237,500

2027

2,237,500

2028

2,237,500

2029

2,237,500

Thereafter

1,033,333

Total

$

12,220,833