| Schedule of Finite-Lived Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
September 30, 2023 |
|
|
December 31, 2022 |
|
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
105,148 |
|
|
$ |
(38,403 |
) |
|
$ |
66,745 |
|
|
$ |
82,431 |
|
|
$ |
(27,331 |
) |
|
$ |
55,100 |
|
|
|
10 |
|
| Patents in process |
|
|
147,101 |
|
|
|
- |
|
|
|
147,101 |
|
|
|
119,760 |
|
|
|
- |
|
|
|
119,760 |
|
|
|
N/A |
|
| Licenses |
|
|
241,909 |
|
|
|
(83,808 |
) |
|
|
158,101 |
|
|
|
241,909 |
|
|
|
(65,665 |
) |
|
|
176,244 |
|
|
|
10 |
|
| Software |
|
|
211,411 |
|
|
|
(158,698 |
) |
|
|
52,713 |
|
|
|
161,284 |
|
|
|
(84,682 |
) |
|
|
76,602 |
|
|
|
3 |
|
| Trademarks |
|
|
3,230,000 |
|
|
|
(695,488 |
) |
|
|
2,534,512 |
|
|
|
3,230,000 |
|
|
|
(453,242 |
) |
|
|
2,776,758 |
|
|
|
10 |
|
| FAA waiver |
|
|
5,930,000 |
|
|
|
(1,276,856 |
) |
|
|
4,653,144 |
|
|
|
5,930,000 |
|
|
|
(832,113 |
) |
|
|
5,097,887 |
|
|
|
10 |
|
| Developed technology |
|
|
27,977,331 |
|
|
|
(4,899,088 |
) |
|
|
23,078,243 |
|
|
|
23,270,614 |
|
|
|
(2,752,353 |
) |
|
|
20,518,261 |
|
|
|
3 - 10 |
|
| Non-compete agreements |
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
1 |
|
| Marketing-related assets |
|
|
890,000 |
|
|
|
(60,290 |
) |
|
|
829,710 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
| Customer relationships |
|
|
1,090,000 |
|
|
|
(165,386 |
) |
|
|
924,614 |
|
|
|
60,000 |
|
|
|
(16,839 |
) |
|
|
43,161 |
|
|
|
5 |
|
| |
|
$ |
40,662,900 |
|
|
$ |
(8,218,017 |
) |
|
$ |
32,444,883 |
|
|
$ |
33,935,998 |
|
|
$ |
(5,072,225 |
) |
|
$ |
28,863,773 |
|
|
|
|
|
|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense
for the next five years for the intangible assets currently being amortized is as follows:
| Year Ending December 31, |
|
Estimated
Amortization |
|
| 2023 (3 months) |
|
$ |
1,055,821 |
|
| 2024 |
|
$ |
4,221,472 |
|
| 2025 |
|
$ |
4,164,693 |
|
| 2026 |
|
$ |
4,080,964 |
|
| 2027 |
|
$ |
4,073,803 |
|
| Thereafter |
|
$ |
14,848,130 |
|
| Total |
|
$ |
32,444,883 |
|
|