Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Note 12. Goodwill and Intangible Assets, Net

The following table sets forth the changes in the carrying amount of the Company’ Goodwill for the years ended December 31, 2023 and 2022:

	2023		2022
Balance, January 1	$	249,986	$	249,986
Acquisitions of Submersible Systems, Inc.		-		-
Balance, December 31	$	249,986	$	249,986

The following table sets forth the components of the Company’s intangible assets at December 31, 2023:

	Amortization Period (Years)		Cost		Accumulated Amortization			Net Book Value
Intangible Assets Subject to amortization
Trademarks		15	$	121,000	$	(18,779	)	$	102,221
Customer Relationships		10		600,000		(140,000	)		460,000
Non-Compete Agreements		5		22,000		(10,266	)		11,734
Total			$	743,000	$	(169,045	)	$	573,955

The aggregate amortization remaining on the intangible assets as of December 31, 2023 is a follows:

	Intangible Amortization
2024	$	72,467
2025		72,467
2026		72,467
2027		71,367
Thereafter	$	285,187
Total	$	573,955