INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

Intangible assets as of March 31, 2023 and December 31, 2022 consist of the following:

Schedule of Intangible Assets
	March 31,			December 31,
	2023			2022
Intangible assets subject to amortization
Customer Relationships	$	8,448,598		$	1,655,598
Tradenames/trademarks		5,242,530			2,208,530
Patented technology		3,440,771			1,730,771
Technology/know-how/trade secrets		11,352,193			8,341,000
Vendor relationships		1,416,000			—
Rebate program		1,894,703			—
		31,794,795			13,935,899
Less: Accumulated Amortization		(3,164,942	)		(2,581,469	)
	$	28,629,853		$	11,354,430

During the three months ended March 31, 2023 and 2022, the Company recorded total amortization expense related to intangible assets of $583,473 and $441,984, respectively. The useful lives of tradenames ranges from 5 to 10 years, technology is 10 years, customer relationships ranges from 7 to 14 years, and patents range from 17 to 20 years.

Future amortization of intangible assets are as follows:

Future amortization of intangible assets
For the year ending December 31,
2023 (9 months)	$	2,102,916
2024		3,044,016
2025		3,044,016
2026		3,029,260
Thereafter		17,409,645
Total	$	28,629,853