Intangible Assets

6 Months Ended

Jun. 30, 2024

Intangible Assets [Abstract]

INTANGIBLE ASSETS

NOTE 7 – INTANGIBLE ASSETS

Identifiable intangible assets as of June 30, 2024 and December 31, 2023 were as follows:

	June 30,			December 31,
	2024			2023
NCFM: Medical database	$	1,101,538		$	1,101,538
NCFM: Website		41,000			41,000
Total intangible assets		1,142,538			1,142,538
Less: accumulated amortization		(371,461	)		(258,690	)
Intangible assets, net	$	771,077		$	883,848

Intangible assets arose from the acquisition of NCFM in April 2019. The NCFM medical database is being prospectively amortized starting January 1, 2023 over an estimated five-year useful life. The NCFM website began being amortized over a five-year life from the acquisition date. Amortization expense related to intangible assets was $55,731 and $57,040, during the three months ended June 30, 2024 and 2023, respectively, and $112,771 and $114,080 during the six months ended June 30, 2024 and 2023, respectively.

Future amortization expense of intangible assets is expected to be as follows:

2024 (July to December)	$	110,154
2025		220,308
2026		220,308
2027		220,307
Thereafter		—
Total future amortization expense	$	771,077