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Intangible Assets, Net
6 Months Ended
Jun. 30, 2024
Intangible Assets, Net [Abstract]  
Intangible assets, net

Note 5 — Intangible assets, net

 

   Three and six months ended
June 30, 2024
 
   Gross
carrying
amount
   Accumulated
amortization
   Net
carrying
amount
 
Customer relationships  $102,500,000   $(911,112)  $101,588,888 
Trade names   12,400,000    (165,333)   12,234,667 
Total  $114,900,000   $(1,076,445)  $113,823,555 

 

Amortization expense related to finite lived intangible assets is included in depreciation and amortization expenses in the consolidated statement of operations was $1,076,445 for the three and six months ended June 30, 2024 for the Successor.

 

As of June 30, 2024, the expected amortization expense associated with the Company’s identifiable intangible assets with estimable useful lives over the next five years was as follows:

 

2024  $4,036,666 
2025   8,073,333 
2026   8,073,333 
2027   8,073,333 
2028   8,073,333 
Thereafter   77,493,557 
Total  $113,823,555 

 

As of June 30, 2024, the weighted average amortization period for all intangible assets was 14.3 years.