| Schedule of Components of Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
March 31, 2025 |
|
|
December 31, 2024 |
|
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
184,927 |
|
|
$ |
(67,933 |
) |
|
$ |
116,994 |
|
|
$ |
165,106 |
|
|
$ |
(58,808 |
) |
|
$ |
106,298 |
|
|
|
10 |
|
| Patents in process |
|
|
108,144 |
|
|
|
- |
|
|
|
108,144 |
|
|
|
103,813 |
|
|
|
- |
|
|
|
103,813 |
|
|
|
N/A |
|
| Licenses |
|
|
241,909 |
|
|
|
(120,096 |
) |
|
|
121,813 |
|
|
|
241,909 |
|
|
|
(114,048 |
) |
|
|
127,861 |
|
|
|
10 |
|
| Software |
|
|
271,852 |
|
|
|
(220,569 |
) |
|
|
51,283 |
|
|
|
271,852 |
|
|
|
(208,699 |
) |
|
|
63,153 |
|
|
|
3 |
|
| Trademarks |
|
|
3,230,000 |
|
|
|
(1,179,974 |
) |
|
|
2,050,026 |
|
|
|
3,230,000 |
|
|
|
(1,099,226 |
) |
|
|
2,130,774 |
|
|
|
10 |
|
| FAA waiver |
|
|
5,930,000 |
|
|
|
(2,166,329 |
) |
|
|
3,763,671 |
|
|
|
5,930,000 |
|
|
|
(2,018,084 |
) |
|
|
3,911,916 |
|
|
|
10 |
|
| Developed technology |
|
|
27,977,331 |
|
|
|
(9,297,585 |
) |
|
|
18,679,746 |
|
|
|
27,977,331 |
|
|
|
(8,564,502 |
) |
|
|
19,412,829 |
|
|
|
3 - 10 |
|
| Non-compete agreements |
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
840,000 |
|
|
|
(840,000 |
) |
|
|
- |
|
|
|
1 |
|
| Marketing-related assets |
|
|
890,000 |
|
|
|
(193,790 |
) |
|
|
696,210 |
|
|
|
890,000 |
|
|
|
(171,540 |
) |
|
|
718,460 |
|
|
|
10 |
|
| Customer relationships |
|
|
1,010,000 |
|
|
|
(457,547 |
) |
|
|
552,453 |
|
|
|
1,010,000 |
|
|
|
(407,047 |
) |
|
|
602,953 |
|
|
|
5 |
|
| |
|
$ |
40,684,163 |
|
|
$ |
(14,543,823 |
) |
|
$ |
26,140,340 |
|
|
$ |
40,660,011 |
|
|
$ |
(13,481,954 |
) |
|
$ |
27,178,057 |
|
|
|
|
|
|
| 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 (9 months) |
|
$ |
3,119,093 |
|
| 2026 |
|
|
4,091,986 |
|
| 2027 |
|
|
4,076,865 |
|
| 2028 |
|
|
3,793,702 |
|
| 2029 |
|
|
3,758,276 |
|
| Thereafter |
|
|
7,300,418 |
|
| Total |
|
$ |
26,140,340 |
|
|