INTANGIBLES, NET

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLES, NET

NOTE 5 – INTANGIBLES, NET

Intangible assets consisted of the following as of June 30, 2024 and December 31, 2023:

	June 30,			December 31,
	2024			2023
Customer Lists	$	1,137,807		$	1,137,807
Intellectual Property		5,228,548			5,228,548
Tradenames		509,818			509,818
Noncompete Agreement		282,948			282,948
Less: accumulated amortization		(889,308	)		(505,091	)
Net book value	$	6,269,813		$	6,654,030

Amortization expense from intangible assets was $384,217 and $176,599 for the six months ended June 30, 2024 and 2023, respectively, and $192,108 and $169,724 for the three months ended June 30, 2024 and 2023.

As a result of the Titan Merger, the Company recorded $5,228,548 of intellectual property, $509,818 of tradenames, a $450,307 customer list, and a $282,948 noncompete agreement on the Titan acquisition date (Note 3 – Business Combinations).

Future amortization expense from intangible assets as of June 30, 2024 were as follows:

	For the Years Ended,
	December 31,
Remainder of 2024	$	388,249
2025		770,356
2026		770,356
2027		770,356
2028		711,930
Thereafter		2,858,566
Total remaining amortization expense	$	6,269,813