Goodwill and Finite-lived Intangible Assets	3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Finite-lived Intangible Assets	Note 4. Goodwill and Finite-lived Intangible Assets *Goodwill* The Company’s goodwill was derived from the Abaca Merger, where the purchase price exceeded the fair value of the net identifiable assets acquired. Goodwill is tested for impairment at least annually, or more frequently if a triggering event occurs. On December 31, 2024, the Company performed its annual goodwill impairment test in accordance with ASC 350. The assessment determined that the fair value of the asset group was below its carrying amount, leading to a full goodwill impairment charge of $6.06 million. The Company recorded a full impairment of goodwill for the fiscal year ended December 31, 2024. As a result, no impairment charges have been recognized for the reporting three months ended March 31, 2025 and March 31, 2024. *Finite-lived intangible assets* The Company reviews its finite-lived intangible assets for impairment at least annually on December 31 unless any events or circumstances indicate it is more likely than not that the fair value of the finite-lived intangible assets is less than its carrying value. In accordance with the Company’s established policy, an annual impairment review of finite-lived intangible assets was conducted on December 31, 2024. The recoverability test compared the sum of estimated undiscounted future cash flows of the asset group to its carrying amount. As the undiscounted cash flows were determined to be lower than the carrying amount, the Company performed a fair value assessment using a Discounted Cash Flow analysis. The results indicated that the fair value of the asset group was below its carrying amount, leading to full impairment charges of $0.05 million for market-related intangible assets, $0.05 million for customer relationships, and $2.99 million for developed technologies. As of March 31, 2024, the Company did not perform an interim impairment assessment of its assets, as no triggering events were identified. Accordingly, no additional impairment charges were recognized during the reporting period. For the three months ended March 31, 2024, the Company recognized amortization expenses of $2,540 for market-related intangible assets, $1,687 for customer relationships, and $152,628 for developed technologies. The Company recorded a full impairment of market-related intangible assets, customer relationships, and developed technology for the fiscal year ended December 31, 2024. As a result, no amortization or impairment charges have been recognized for the reporting three months ended March 31, 2025.

Goodwill and Finite-lived Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Finite-lived Intangible Assets

Note 4. Goodwill and Finite-lived Intangible Assets

Goodwill

The Company’s goodwill was derived from the Abaca Merger, where the purchase price exceeded the fair value of the net identifiable assets acquired. Goodwill is tested for impairment at least annually, or more frequently if a triggering event occurs.

On December 31, 2024, the Company performed its annual goodwill impairment test in accordance with ASC 350. The assessment determined that the fair value of the asset group was below its carrying amount, leading to a full goodwill impairment charge of $6.06 million.

The Company recorded a full impairment of goodwill for the fiscal year ended December 31, 2024. As a result, no impairment charges have been recognized for the reporting three months ended March 31, 2025 and March 31, 2024.

Finite-lived intangible assets

The Company reviews its finite-lived intangible assets for impairment at least annually on December 31 unless any events or circumstances indicate it is more likely than not that the fair value of the finite-lived intangible assets is less than its carrying value.

In accordance with the Company’s established policy, an annual impairment review of finite-lived intangible assets was conducted on December 31, 2024. The recoverability test compared the sum of estimated undiscounted future cash flows of the asset group to its carrying amount. As the undiscounted cash flows were determined to be lower than the carrying amount, the Company performed a fair value assessment using a Discounted Cash Flow analysis. The results indicated that the fair value of the asset group was below its carrying amount, leading to full impairment charges of $0.05 million for market-related intangible assets, $0.05 million for customer relationships, and $2.99 million for developed technologies.

As of March 31, 2024, the Company did not perform an interim impairment assessment of its assets, as no triggering events were identified. Accordingly, no additional impairment charges were recognized during the reporting period.

For the three months ended March 31, 2024, the Company recognized amortization expenses of $2,540 for market-related intangible assets, $1,687 for customer relationships, and $152,628 for developed technologies.

The Company recorded a full impairment of market-related intangible assets, customer relationships, and developed technology for the fiscal year ended December 31, 2024. As a result, no amortization or impairment charges have been recognized for the reporting three months ended March 31, 2025.