| Schedule of Components of Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
September 30, 2024 |
|
|
December 31, 2023 |
|
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
162,718 |
|
|
$ |
(52,896 |
) |
|
$ |
109,822 |
|
|
$ |
117,810 |
|
|
$ |
(43,153 |
) |
|
$ |
74,657 |
|
|
|
10 |
|
| Patents in process |
|
|
119,361 |
|
|
|
- |
|
|
|
119,361 |
|
|
|
142,239 |
|
|
|
- |
|
|
|
142,239 |
|
|
|
N/A |
|
| Licenses |
|
|
241,909 |
|
|
|
(108,000 |
) |
|
|
133,909 |
|
|
|
241,909 |
|
|
|
(89,859 |
) |
|
|
152,050 |
|
|
|
10 |
|
| Software |
|
|
244,089 |
|
|
|
(196,778 |
) |
|
|
47,311 |
|
|
|
211,411 |
|
|
|
(167,412 |
) |
|
|
43,999 |
|
|
|
3 |
|
| Trademarks |
|
|
3,230,000 |
|
|
|
(1,018,478 |
) |
|
|
2,211,522 |
|
|
|
3,230,000 |
|
|
|
(776,235 |
) |
|
|
2,453,765 |
|
|
|
10 |
|
| FAA waiver |
|
|
5,930,000 |
|
|
|
(1,869,838 |
) |
|
|
4,060,162 |
|
|
|
5,930,000 |
|
|
|
(1,425,101 |
) |
|
|
4,504,899 |
|
|
|
10 |
|
| Developed technology |
|
|
27,977,331 |
|
|
|
(7,831,419 |
) |
|
|
20,145,912 |
|
|
|
27,977,331 |
|
|
|
(5,632,170 |
) |
|
|
22,345,161 |
|
|
|
3 - 10 |
|
| Non-compete agreements |
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
1 |
|
| Marketing-related assets |
|
|
890,000 |
|
|
|
(149,290 |
) |
|
|
740,710 |
|
|
|
890,000 |
|
|
|
(82,540 |
) |
|
|
807,460 |
|
|
|
10 |
|
| Customer relationships |
|
|
1,010,000 |
|
|
|
(356,548 |
) |
|
|
653,452 |
|
|
|
1,010,000 |
|
|
|
(205,048 |
) |
|
|
804,952 |
|
|
|
5 |
|
| |
|
$ |
40,645,408 |
|
|
$ |
(12,423,247 |
) |
|
$ |
28,222,161 |
|
|
$ |
40,590,700 |
|
|
$ |
(9,261,518 |
) |
|
$ |
31,329,182 |
|
|
|
|
|
|
| Schedule of Expected 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 |
|
| 2024 (3 months) |
|
$ |
1,055,457 |
|
| 2025 |
|
$ |
4,165,035 |
|
| 2026 |
|
$ |
4,081,308 |
|
| 2027 |
|
$ |
4,067,058 |
|
| 2028 |
|
$ |
3,792,280 |
|
| Thereafter |
|
$ |
11,061,023 |
|
| Total |
|
$ |
28,222,161 |
|
|