Intangible Asset

6 Months Ended

Jun. 30, 2024

Intangible Assets [Abstract]

Intangible Asset

Note 5. Intangible Asset

The following table provides the Company's carrying amount of the intangible asset for each of the periods indicated.

	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted-average useful life
Balance at December 31, 2023
Finite-lived intangible asset	$	63,800	$	10,514	$	53,286	9-years
Balance at June 30, 2024
Finite-lived intangible asset	$	63,800	$	13,693	$	50,107	8-years

Based on the finite-lived intangible asset recorded as of June 30, 2024, and assuming the underlying asset will not be impaired and that the Company will not change the expected life of the asset, future amortization expenses over the next five years and periods thereafter are estimated to be as follows:

	Estimated amortization expense
2024	$	3,214
2025		6,375
2026		6,375
2027		6,375
2028		6,392
Thereafter		21,376
Total	$	50,107