| Schedule of Finite-Lived Intangible Assets |
The components of intangible
assets, all of which are finite lived, were as follows:
| |
|
June 30, 2023 |
|
|
December 31, 2022 |
|
|
|
|
| |
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
|
Useful
Life |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
$ |
105,148 |
|
|
$ |
(36,173 |
) |
|
$ |
68,975 |
|
|
$ |
82,431 |
|
|
$ |
(27,331 |
) |
|
$ |
55,100 |
|
|
|
10 |
|
| Patents in process |
|
|
134,454 |
|
|
|
- |
|
|
|
134,454 |
|
|
|
119,760 |
|
|
|
- |
|
|
|
119,760 |
|
|
|
N/A |
|
| Licenses |
|
|
241,909 |
|
|
|
(77,761 |
) |
|
|
164,148 |
|
|
|
241,909 |
|
|
|
(65,665 |
) |
|
|
176,244 |
|
|
|
10 |
|
| Software |
|
|
211,411 |
|
|
|
(148,418 |
) |
|
|
62,993 |
|
|
|
161,284 |
|
|
|
(84,682 |
) |
|
|
76,602 |
|
|
|
3 |
|
| Trademarks |
|
|
3,230,000 |
|
|
|
(614,740 |
) |
|
|
2,615,260 |
|
|
|
3,230,000 |
|
|
|
(453,242 |
) |
|
|
2,776,758 |
|
|
|
10 |
|
| FAA waiver |
|
|
5,930,000 |
|
|
|
(1,128,610 |
) |
|
|
4,801,390 |
|
|
|
5,930,000 |
|
|
|
(832,113 |
) |
|
|
5,097,887 |
|
|
|
10 |
|
| Developed technology |
|
|
27,928,536 |
|
|
|
(4,158,590 |
) |
|
|
23,769,946 |
|
|
|
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 |
|
|
|
(38,040 |
) |
|
|
851,960 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
| Customer relationships |
|
|
1,090,000 |
|
|
|
(110,887 |
) |
|
|
979,113 |
|
|
|
60,000 |
|
|
|
(16,839 |
) |
|
|
43,161 |
|
|
|
5 |
|
| |
|
$ |
40,601,458 |
|
|
$ |
(7,153,219 |
) |
|
$ |
33,448,239 |
|
|
$ |
33,935,998 |
|
|
$ |
(5,072,225 |
) |
|
$ |
28,863,773 |
|
|
|
|
|
|
| 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 |
|
| 2023 (6 months) |
|
$ |
2,108,678 |
|
| 2024 |
|
$ |
4,212,088 |
|
| 2025 |
|
$ |
4,154,205 |
|
| 2026 |
|
$ |
4,071,207 |
|
| 2027 |
|
$ |
4,064,043 |
|
| Thereafter |
|
$ |
14,838,018 |
|
| Total |
|
$ |
33,448,239 |
|
|