| Schedule of Components of Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
185,940 |
|
|
$ |
(72,825 |
) |
|
$ |
113,115 |
|
|
$ |
165,106 |
|
|
$ |
(58,808 |
) |
|
$ |
106,298 |
|
|
10 |
| Patents in process |
|
|
95,023 |
|
|
|
- |
|
|
|
95,023 |
|
|
|
103,813 |
|
|
|
- |
|
|
|
103,813 |
|
|
N/A |
| Licenses |
|
|
241,909 |
|
|
|
(126,144 |
) |
|
|
115,765 |
|
|
|
241,909 |
|
|
|
(114,048 |
) |
|
|
127,861 |
|
|
10 |
| Software |
|
|
283,217 |
|
|
|
(230,109 |
) |
|
|
53,108 |
|
|
|
271,852 |
|
|
|
(208,699 |
) |
|
|
63,153 |
|
|
3 |
| Trademarks |
|
|
3,230,000 |
|
|
|
(1,260,721 |
) |
|
|
1,969,279 |
|
|
|
3,230,000 |
|
|
|
(1,099,226 |
) |
|
|
2,130,774 |
|
|
10 |
| FAA waiver |
|
|
5,930,000 |
|
|
|
(2,314,575 |
) |
|
|
3,615,425 |
|
|
|
5,930,000 |
|
|
|
(2,018,084 |
) |
|
|
3,911,916 |
|
|
10 |
| Developed technology |
|
|
27,977,331 |
|
|
|
(10,030,668 |
) |
|
|
17,946,663 |
|
|
|
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 |
|
|
|
(216,040 |
) |
|
|
673,960 |
|
|
|
890,000 |
|
|
|
(171,540 |
) |
|
|
718,460 |
|
|
10 |
| Customer relationships |
|
|
1,010,000 |
|
|
|
(508,047 |
) |
|
|
501,953 |
|
|
|
1,010,000 |
|
|
|
(407,047 |
) |
|
|
602,953 |
|
|
5 |
| |
|
$ |
40,683,420 |
|
|
|
(15,599,129 |
) |
|
|
25,084,291 |
|
|
$ |
40,660,011 |
|
|
$ |
(13,481,954 |
) |
|
$ |
27,178,057 |
|
|
|
|
| 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 |
|
| 2025 (6 months) |
|
$ |
2,070,905 |
|
| 2026 |
|
|
4,091,986 |
|
| 2027 |
|
|
4,080,818 |
|
| 2028 |
|
|
3,795,009 |
|
| 2029 |
|
|
3,758,276 |
|
| Thereafter |
|
|
7,287,297 |
|
| Total |
|
$ |
25,084,291 |
|
|