Quarterly report [Sections 13 or 15(d)]

OTHER INTANGIBLE ASSETS

v3.25.2
OTHER INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS

NOTE 4. OTHER INTANGIBLE ASSETS

Other intangible assets, net consisted of the following at:

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Patents

 

$

13,507,338

 

 

$

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

 

 

2,622,589

 

 

 

2,137,847

 

Other intangible assets, gross

 

 

35,711,750

 

 

 

35,227,008

 

Less: accumulated amortization

 

 

(24,888,230

)

 

 

(23,783,255

)

Other intangible assets, net

 

$

10,823,520

 

 

$

11,443,753

 

For the three months ended June 30, 2025 and 2024, amortization expense related to other intangible assets was $552,488 and $489,813, respectively. For the six months ended June 30, 2025 and 2024, amortization expense related to other intangible assets was $1,104,975 and $975,143, respectively.