GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangibles assets, all of which relates to the acquisition of ENP Investments in 2018, at December 31, 2024 and 2023 consisted of the following:

	December 31, 2024			December 31, 2023
Goodwill	$	2,534,275		$	2,534,275
Intangibles Assets:
Indefinite lived – trade secrets and trademarks		770,000			770,000
Definite lived – customer lists		2,350,000			2,350,000
Accumulated amortization on definite-lived intangibles assets		(1,000,000	)		(840,000	)
Net definite-lived intangible assets		1,350,000			1,510,000
Total intangible assets	$	2,120,000		$	2,280,000

The amount of amortization for 2024 was $160,000 (2023 - $160,000) and was included in cost of sales in the consolidated statements of income and comprehensive income. Estimated amortization expense over the next five years is as follows:

2025	$	160,000
2026		160,000
2027		160,000
2028		160,000
2029		160,000