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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets, Net

Other intangible assets, net. Other intangible assets, net consisted of the following at December 31, 2023 and 2022:

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Patents

 

$

13,507,799

 

 

$

13,507,997

 

Customer relationships

 

 

14,040,856

 

 

 

14,040,856

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Intellectual property

 

 

2,000,000

 

 

 

2,000,000

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

1,432,396

 

 

 

968,362

 

Other intangible assets, gross

 

 

34,522,018

 

 

 

34,058,182

 

Less: accumulated amortization

 

 

(21,766,284

)

 

 

(20,152,071

)

Other intangible assets, net

 

$

12,755,735

 

 

$

13,906,111

 

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

 

Years Ended December 31,

 

Total

 

2024

 

$

1,993,034

 

2025

 

 

2,026,040

 

2026

 

 

1,880,013

 

2027

 

 

1,638,396

 

2028

 

 

1,594,863

 

Thereafter

 

 

3,623,388

 

Total

 

$

12,755,735