Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.23.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets, Net

Other intangible assets, net. Other intangible assets, net consisted of the following at December 31, 2022 and 2021:

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Patents

 

$

13,507,997

 

 

$

13,507,997

 

Customer relationships

 

 

14,040,856

 

 

 

14,040,856

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Intellectual property

 

 

2,000,000

 

 

 

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

968,362

 

 

 

283,340

 

Other intangible assets, gross

 

 

34,058,182

 

 

 

31,373,160

 

Less: accumulated amortization

 

 

(20,152,071

)

 

 

(17,695,896

)

Other intangible assets, net

 

$

13,906,111

 

 

$

13,677,264

 

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

 

Years Ended December 31,

 

Total

 

2023

 

$

1,841,923

 

2024

 

 

1,802,471

 

2025

 

 

1,795,313

 

2026

 

 

1,651,554

 

2027

 

 

1,603,634

 

Thereafter

 

 

5,211,216

 

Total

 

$

13,906,111