| Schedule of Components of Intangible Assets |
The
components of intangible assets, all of which are finite lived, were as follows:
| |
|
December 31, 2023 |
|
|
December 31, 2022 |
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
117,810 |
|
|
$ |
(43,153 |
) |
|
$ |
74,657 |
|
|
$ |
82,431 |
|
|
$ |
(27,331 |
) |
|
$ |
55,100 |
|
|
10 |
| Patents in process |
|
|
142,239 |
|
|
|
- |
|
|
|
142,239 |
|
|
|
119,760 |
|
|
|
- |
|
|
|
119,760 |
|
|
N/A |
| Licenses |
|
|
241,909 |
|
|
|
(89,859 |
) |
|
|
152,050 |
|
|
|
241,909 |
|
|
|
(65,665 |
) |
|
|
176,244 |
|
|
10 |
| Software |
|
|
211,411 |
|
|
|
(167,412 |
) |
|
|
43,999 |
|
|
|
161,284 |
|
|
|
(84,682 |
) |
|
|
76,602 |
|
|
3 |
| Trademarks |
|
|
3,230,000 |
|
|
|
(776,235 |
) |
|
|
2,453,765 |
|
|
|
3,230,000 |
|
|
|
(453,242 |
) |
|
|
2,776,758 |
|
|
10 |
| FAA waiver |
|
|
5,930,000 |
|
|
|
(1,425,101 |
) |
|
|
4,504,899 |
|
|
|
5,930,000 |
|
|
|
(832,113 |
) |
|
|
5,097,887 |
|
|
10 |
| Developed technology |
|
|
27,977,331 |
|
|
|
(5,632,170 |
) |
|
|
22,345,161 |
|
|
|
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 |
|
|
|
(82,540 |
) |
|
|
807,460 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
10 |
| Customer relationships |
|
|
1,010,000 |
|
|
|
(205,048 |
) |
|
|
804,952 |
|
|
|
60,000 |
|
|
|
(16,839 |
) |
|
|
43,161 |
|
|
5 |
| |
|
$ |
40,590,700 |
|
|
$ |
(9,261,518 |
) |
|
$ |
31,329,182 |
|
|
$ |
33,935,998 |
|
|
$ |
(5,072,225 |
) |
|
$ |
28,863,773 |
|
|
|
|
| Schedule of Estimated Amortization Expense |
Expected
amortization expense for the next five years for the intangible costs currently being amortized is as follows:
| Year
Ending December 31, |
|
Expected
Amortization |
|
| 2024 |
|
$ |
4,206,541 |
|
| 2025 |
|
|
4,149,761 |
|
| 2026 |
|
|
4,066,033 |
|
| 2027 |
|
|
4,058,871 |
|
| 2028 |
|
|
3,787,781 |
|
| Thereafter |
|
|
11,060,195 |
|
| Total |
|
$ |
31,329,182 |
|
|