| Schedule of Components of Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
165,106 |
|
|
$ |
(58,808 |
) |
|
|
106,298 |
|
|
$ |
117,810 |
|
|
$ |
(43,153 |
) |
|
$ |
74,657 |
|
|
10 |
| Patents in process |
|
|
103,813 |
|
|
|
- |
|
|
|
103,813 |
|
|
|
142,239 |
|
|
|
- |
|
|
|
142,239 |
|
|
N/A |
| Licenses |
|
|
241,909 |
|
|
|
(114,048 |
) |
|
|
127,861 |
|
|
|
241,909 |
|
|
|
(89,859 |
) |
|
|
152,050 |
|
|
10 |
| Software |
|
|
271,852 |
|
|
|
(208,699 |
) |
|
|
63,153 |
|
|
|
211,411 |
|
|
|
(167,412 |
) |
|
|
43,999 |
|
|
3 |
| Trademarks |
|
|
3,230,000 |
|
|
|
(1,099,226 |
) |
|
|
2,130,774 |
|
|
|
3,230,000 |
|
|
|
(776,235 |
) |
|
|
2,453,765 |
|
|
10 |
| FAA waiver |
|
|
5,930,000 |
|
|
|
(2,018,084 |
) |
|
|
3,911,916 |
|
|
|
5,930,000 |
|
|
|
(1,425,101 |
) |
|
|
4,504,899 |
|
|
10 |
| Developed technology |
|
|
27,977,331 |
|
|
|
(8,564,502 |
) |
|
|
19,412,829 |
|
|
|
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 |
|
|
|
(171,540 |
) |
|
|
718,460 |
|
|
|
890,000 |
|
|
|
(82,540 |
) |
|
|
807,460 |
|
|
10 |
| Customer relationships |
|
|
1,010,000 |
|
|
|
(407,047 |
) |
|
|
602,953 |
|
|
|
1,010,000 |
|
|
|
(205,048 |
) |
|
|
804,952 |
|
|
5 |
| |
|
$ |
40,660,011 |
|
|
$ |
(13,481,954 |
) |
|
|
27,178,057 |
|
|
$ |
40,590,700 |
|
|
$ |
(9,261,518 |
) |
|
$ |
31,329,182 |
|
|
|
|
| Schedule of Expected 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 |
|
| 2025 |
|
$ |
4,174,292 |
|
| 2026 |
|
|
4,090,564 |
|
| 2027 |
|
|
4,075,443 |
|
| 2028 |
|
|
3,792,280 |
|
| 2029 |
|
|
3,756,854 |
|
| Thereafter |
|
|
7,288,624 |
|
| Total |
|
$ |
27,178,057 |
|
|