Quarterly report [Sections 13 or 15(d)]

OTHER INTANGIBLE ASSETS

v3.25.1
OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS

NOTE 4. OTHER INTANGIBLE ASSETS

Other intangible assets, net consisted of the following:

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Patents

 

$

13,508,203

 

 

$

13,507,338

 

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

 

 

2,332,674

 

 

 

2,137,847

 

Other intangible assets, gross

 

 

35,422,700

 

 

 

35,227,008

 

Less: accumulated amortization

 

 

(24,336,607

)

 

 

(23,783,255

)

Other intangible assets, net

 

$

11,086,093

 

 

$

11,443,753

 

For the three months ended March 31, 2025 and 2024, amortization expense related to other intangible assets was $552,487 and $485,330, respectively.