Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.22.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of finite-lived intangible assets
    March 31, 2022     December 31, 2021        
    Gross
Carrying
Amount
    Accumulated
Amortization
    Net
Carrying
Amount
    Gross
Carrying
Amount
    Accumulated
Amortization
    Net  Carrying Amount     Useful
Life
 
                                           
Patents   $ 77,772     (17,356 )    $ 60,416     $ 75,266     $ (13,077 )   $ 62,189       10  
Patents in process     96,345      
-
      96,344       89,767      
-
      89,767      
N/A
 
Licenses     241,909       (47,520 )     194,389       241,909       (41,471 )     200,438       10  
Trademarks     3,230,000       (210,992 )     3,019,008       3,230,000       (130,242 )     3,099,758       10  
FAA waiver     5,930,000       (387,363 )     5,542,637       5,930,000       (239,113 )     5,690,887       10  
Developed technology     16,120,000       (1,053,000 )     15,067,000       16,120,000       (650,000 )     15,470,000       10  
Non-compete agreements     840,000       (548,710 )     291,290       840,000       (338,710 )     501,290       1  
Customer relationships     60,000       (7,839 )     52,161       60,000       (4,839 )     55,161       5  
    $ 26,596,026      $ (2,272,780 )   24,323,246     $ 26,586,942     $ (1,417,452 )   $ 25,169,489          

  

Schedule of estimated amortization expense
Year Ending December 31,   Estimated
Amortization
 
2022 (9 months)   $ 1,372,244  
2023   $ 2,571,280  
2024   $ 2,571,003  
2025   $ 2,571,003  
2026   $ 2,566,164  
Thereafter   $ 12,575,208  
Total   $ 24,226,902