Intangible assets, net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

4. Intangible assets, net

Intangible assets are stated at cost less accumulated amortization, and consist of the following at December 31, 2024 and 2023:

	December 31,
	2024			2023
Patents acquired	$	39,143,975		$	39,143,975
Others		227,013			227,009
Total cost		39,370,988			39,370,984
Less: accumulated amortization		(15,622,660	)		(11,087,776	)
Intangible assets, net	$	23,748,328		$	28,283,208

Amortization expense for the years ended December 31, 2024 and 2023 was $4,534,729 and $4,523,516, respectively. No impairment loss was recorded in 2024 and 2023.

Estimated future amortization expense is as follows:

2025	$	4,522,377
2026		4,522,232
2027		4,521,505
2028		4,533,858
2029		1,926,411
Thereafter		3,721,945
Total expense	$	23,748,328