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Intangible Assets and Goodwill
12 Months Ended
Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

4. Intangible Assets and Goodwill

The Company’s intangible assets and goodwill consisted of:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Tradename

 

$

10,007,698

 

 

$

7,994,698

 

Customer List

 

 

18,502,207

 

 

 

16,066,973

 

Non-Compete

 

 

1,247,536

 

 

 

320,256

 

Slice License Agreement

 

 

379,921

 

 

 

379,921

 

Patents

 

 

2,271,980

 

 

 

2,271,980

 

Subtotal

 

 

32,409,342

 

 

 

27,033,828

 

Less: Accumulated Amortization

 

 

11,618,807

 

 

 

9,803,299

 

Intangible Assets

 

$

20,790,535

 

 

$

17,230,529

 

Goodwill

 

$

8,188,829

 

 

$

4,799,829

 

Total:

 

$

28,979,364

 

 

$

22,030,358

 

 

 

 

Amortization expense for intangible assets for the years ended December 31, 2022 and 2021 were $1,815,508 and $1,490,894, respectively. The estimated aggregate amortization expense for each of the next five years, calculated on a similar basis, is as follows: 2023 - $2,012,133; 2024 - $1,921,376; 2025 - $1,919,183; 2026 - $1,651,089; and 2027 - $1,322,225.