INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9 — INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

As of December 31, 2024 and 2023, intangible assets, net consist of the following:

	December 31, 2024			December 31, 2023
Assembled workforce	$	—		$	8,976,567
Patent use right		16,582,795			18,435,140
Trademarks		1,237,820			—
Customer Relationships		192,911			—
Others		159,321			212,190
Subtotal		18,172,847			27,623,897
Less: accumulated amortization		(2,072,849	)		(7,884,621	)
Less: accumulated impairment		(14,509,946	)		—
Intangible assets, net	$	1,590,052		$	19,739,276

Amortization expense was $1,073,029 and $5,660,906 for the years ended December 31, 2024 and 2023, respectively.

The Company recognized an impairment loss of $15,058,965 on patent use right for the year ended December 31, 2024.

Estimated future amortization expense related to intangible assets as of December 31, 2024 is as follows:

For the Years Ended December 31,	Amortization Expenses
2025	$	133,945
2026		160,734
2027		160,734
2028		78,365
2029		61,891
Thereafter		994,383
Total	$	1,590,052