INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2024

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

NOTE 8 — INTANGIBLE ASSETS, NET

The following table summarizes the details of the Company’s intangible assets, net:

							Adjusted
	December 31,		December 31,				December 31,
	2024		2023		Reclassification		2023
Consumer
Technology	$	409,896	$	371,352	$	—	$	371,352
Customer lists		13,000		—		—		—
Assets under development (2)		3,381		—		—		—
		426,277		371,352		—		371,352
Less: accumulated amortization		(379,980)		(365,852)		—		(365,852)
Sub-total		46,297		5,500		—		5,500
Commercial
Trademarks/tradenames		2,869,000		2,869,000		—		2,869,000
Customer contracts		1,873,000		1,873,000		—		1,873,000
Customer relationships		1,809,000		1,809,000		—		1,809,000
		6,551,000		6,551,000		—		6,551,000
Less: accumulated amortization		(2,877,855)		(2,248,405)		—		(2,248,405)
Sub-total		3,673,145		4,302,595		—		4,302,595
Corporate
Technology		462,548		—				—
Assets under development (1)(2)		—		—		191,075		191,075
		462,548		—		191,075		191,075
Less: accumulated amortization		(84,212)		—		—		—
Sub-total		378,336		—		191,075		191,075
	$	4,097,778	$	4,308,095	$	191,075	$	4,499,170

(1) The reclassification related to the initial development of our enterprise resource planning system, which was placed into service in the first quarter of Fiscal 2024.

(2) As of December 31, 2024 and December 31, 2023, these intangible assets are under development, have not yet been placed into service and are not yet amortizable.

The following table depicts the Company’s estimated future amortization expense related to intangible assets as of December 31, 2024:

	Consumer		Commercial		Corporate		Total
2025		8,928		629,448		94,584		732,960
2026		8,928		629,448		94,584		732,960
2027		8,928		629,448		94,584		732,960
2028		8,052		629,448		94,584		732,084
2029		3,273		539,923		—		543,196
Thereafter		4,807		615,430		—		620,237
	$	42,916	$	3,673,145	$	378,336	$	4,094,397