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Goodwill and Finite Lived Intangible Asset (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Finite Lived Intangible Asset  
Intangible assets

 

 

Useful Lives

 

Cost 

 

 

Accumulated Amortization 

 

 

Net 

 

As of December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

Technology, trademarks

 

3-10 yrs.

 

$1,216,800

 

 

870,900

 

 

$345,900

 

Trade names

 

3-6 yrs.

 

 

592,300

 

 

 

341,600

 

 

 

250,700

 

Websites

 

3-7 yrs.

 

 

210,000

 

 

 

210,000

 

 

 

-

 

Customer relationships

 

4-10 yrs.

 

 

372,200

 

 

 

193,600

 

 

 

178,600

 

Sublicense agreements

 

10 yrs.

 

 

294,000

 

 

 

294,000

 

 

 

-

 

Non-compete agreements

 

4-5 yrs.

 

 

1,060,500

 

 

 

797,600

 

 

 

262,900

 

Patents

 

5-7 yrs.

 

 

595,800

 

 

 

384,000

 

 

 

211,800

 

 

 

 

 

$4,341,600

 

 

3,091,700

 

 

$1,249,900

 

 

 

Useful Lives

 

Cost 

 

 

Accumulated Amortization 

 

 

Net 

 

As of December 31, 2022

Technology, trademarks

 

3-10 yrs.

 

$1,216,800

 

 

$721,700

 

 

$495,100

 

Trade names

 

3-6 yrs.

 

 

592,300

 

 

 

266,000

 

 

 

326,300

 

Websites

 

3-7 yrs.

 

 

210,000

 

 

 

210,000

 

 

 

-

 

Customer relationships

 

4-10 yrs.

 

 

372,200

 

 

 

163,800

 

 

 

208,400

 

Sublicense agreements

 

10 yrs.

 

 

294,000

 

 

 

294,000

 

 

 

-

 

Non-compete agreements

 

4-5 yrs.

 

 

1,060,500

 

 

 

602,000

 

 

 

458,500

 

Patents

 

5-7 yrs.

 

 

595,800

 

 

 

321,100

 

 

 

274,700

 

 

 

 

 

$4,341,600

 

 

$2,578,600

 

 

$1,763,000

 

 

 

Useful Lives

 

Cost 

 

 

Accumulated Amortization 

 

 

Net 

 

As of June 30, 2022

Technology, trademarks

 

3-10 yrs.

 

$1,278,900

 

 

$653,400

 

 

$625,500

 

Trade names

 

3-6 yrs.

 

 

592,300

 

 

 

228,200

 

 

 

364,100

 

Websites

 

3-7 yrs.

 

 

210,000

 

 

 

210,000

 

 

 

-

 

Customer relationships

 

4-10 yrs.

 

 

372,200

 

 

 

143,300

 

 

 

228,900

 

Sublicense agreements

 

10 yrs.

 

 

294,000

 

 

 

294,000

 

 

 

-

 

Non-compete agreements

 

4-5 yrs.

 

 

1,060,500

 

 

 

504,200

 

 

 

556,300

 

Patents

 

5-7 yrs.

 

 

594,300

 

 

 

289,300

 

 

 

305,000

 

 

 

 

 

$4,402,200

 

 

$2,322,400

 

 

$2,079,800

 

Estimated future amortization expense of intangible assets

As of December 31,

 

 

 

2024

 

$509,600

 

2025

 

 

371,500

 

2026

 

 

193,800

 

2027

 

 

92,600

 

2028

 

 

41,800

 

2029

 

 

40,600

 

Total

 

$1,249,900