Quarterly report pursuant to Section 13 or 15(d)

OTHER INTANGIBLE ASSETS

v3.24.3
OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 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:

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Patents

 

$

13,509,003

 

 

$

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

 

 

1,994,593

 

 

 

1,432,397

 

Other intangible assets, gross

 

 

35,085,419

 

 

 

34,522,019

 

Less: accumulated amortization

 

 

(23,232,433

)

 

 

(21,766,284

)

Other intangible assets, net

 

$

11,852,986

 

 

$

12,755,735

 

For the three months ended September 30, 2024 and 2023, amortization expense related to other intangible assets was $489,852 and $472,247, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense related to other intangible assets was $1,464,995 and $1,357,132, respectively.