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INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS, NET

Intangible assets, net consist of the following as of September 30, 2024 and December 31, 2023:

 

 

September 30, 2024 

Useful Lives

(Years)

 

Gross

Carrying
Amount

  

Accumulated

Amortization

  

Net

Carrying
Amount

 
Trade names  8-13 years  $4,444,000   $(1,313,086)  $3,130,914 
Customer relationships  4-6 years   2,669,000    (1,554,222)   1,114,778 
Non-compete  4-5 years   2,322,000    (829,686)   1,492,314 
Intangible assets, net     $9,435,000   $(3,696,994)  $5,738,006 

 

December 31, 2023 

Useful Lives

(Years)

 

Gross

Carrying
Amount

  

Accumulated

Amortization

  

Net

Carrying
Amount

 
Trade names  8-10 years  $2,860,000   $(1,035,443)  $1,824,557 
Customer relationships  4-6 years   2,669,000    (1,330,972)   1,338,028 
Non-compete  4-5 years   1,602,000    (586,066)   1,015,934 
Intangible assets, net     $7,131,000   $(2,952,481)  $4,178,519 
SCHEDULE OF FUTURE ANNUAL ESTIMATED AMORTIZATION EXPENSE

 

Years ending December 31,    
2024 (remaining three months)  $296,528 
2025   1,180,613 
2026   1,103,576 
2027   964,771 
2028   655,332 
Thereafter   1,537,186 
Total  $5,738,006