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Intangible Asset (Tables)
12 Months Ended
Dec. 31, 2022
Intangible Assets [Abstract]  
Schedule of Net Book Value of our Intangible Asset

The gross carrying amount and net book value of the Company's intangible asset are as follows:

 

 

 

Estimated fair value

 

 

Remaining Weighted-Average Useful Life

Balance at December 31, 2021

 

$

 

 

 

Gross Carrying Amount

 

 

63,800,000

 

 

10-years

Accumulated Amortization

 

 

(4,139,228

)

 

 

Net Book Value at December 31, 2022

 

$

59,660,772

 

 

 

Schedule of Finite Lived Intangible Assets Future Amortization Expense

Based on finite-lived intangible assets recorded as of December 31, 2022, and assuming the underlying assets will not be impaired and that we will not change the expected lives of the assets, future amortization expenses were estimated as follows:

 

 

 

Estimated Amortization Expense

 

2023

 

 

6,374,760

 

2024

 

 

6,392,226

 

2025

 

 

6,374,760

 

2026

 

 

6,374,760

 

Thereafter

 

 

34,144,266

 

Total

 

$

59,660,772