INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

Intangible assets as of June 30, 2023 and December 31, 2022 consist of the following:

	June 30,			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		3,474,158			1,730,771
Technology/know-how/trade secrets		11,369,883			8,341,000
Vendor relationships		1,416,000			—
Rebate program		1,894,703			—
		31,845,872			13,935,899
Less: Accumulated Amortization		(3,845,271	)		(2,581,469	)
	$	28,000,601		$	11,354,430

During the three months ended June 30, 2023 and 2022, the Company recorded total amortization expense related to intangible assets of $680,328 and $441,985, respectively. During the six months ended June 30, 2023 and 2022, the Company recorded total amortization expense related to intangible assets of $1,263,802 and $883,969, respectively. The useful lives of tradenames range 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:

For the year ending December 31,
2023 (6 months)		1,430,196
2024		3,050,982
2025		3,050,982
2026		3,033,272
Thereafter		17,435,169
Total	$	28,000,601