Quarterly report pursuant to Section 13 or 15(d)

OTHER INTANGIBLE ASSETS

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OTHER INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS

NOTE 4. OTHER INTANGIBLE ASSETS

Other intangible assets, net. Other intangible assets, net consisted of the following at:

 

 

June 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Patents

 

$

13,507,984

 

 

$

13,507,799

 

Customer relationships

 

 

14,040,856

 

 

 

14,040,856

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Intellectual property

 

 

2,000,000

 

 

 

2,000,000

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

1,768,060

 

 

 

1,432,397

 

Other intangible assets, gross

 

 

34,857,867

 

 

 

34,522,019

 

Less: accumulated amortization

 

 

(22,741,561

)

 

 

(21,766,284

)

Other intangible assets, net

 

$

12,116,306

 

 

$

12,755,735

 

For the three months ended June 30, 2024 and 2023, amortization expense related to other intangible assets was $489,813 and $406,554, respectively. For the six months ended June 30, 2024 and 2023, amortization expense related to other intangible assets was $975,143 and $884,885, respectively.