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INTANGIBLES, NET
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLES, NET

NOTE 6 – INTANGIBLES, NET

 

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

 

   December 31,   December 31, 
   2024   2023 
Customer Lists  $687,500   $687,500 
           
Less: accumulated amortization   (137,500)   (68,750)
Net book value  $550,000   $618,750 

 

Amortization expense from intangible assets was $68,750 and $68,750 for the years ended December 31, 2024 and 2023, respectively. As further described in Note 3 – Business Combinations, the valuation of identified intangible assets is still preliminary and not complete as of December 31, 2024. The Company anticipates an allocation of value to various identified finite lived intangible assets during the first half of the year ended December 31, 2025. When this occurs the Company will make required charges to amortization expense to adjust the carrying value of the intangible assets through measurement period adjustments.

 

Future amortization expense from intangible assets as of December 31, 2024 were as follows:

 

   For the Year Ended, 
   December 31, 
2025  $68,750 
2026   68,750 
2027   68,750 
2028   68,750 
2029   68,750 
Thereafter   206,250 
Total remaining amortization expense  $550,000