INTANGIBLES, NET

3 Months Ended

Mar. 31, 2024

INTANGIBLES, NET

INTANGIBLE ASSETS

NOTE 7 — INTANGIBLES, NET

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

									Adjusted
	March 31,			December 31,					December 31,
	2024			2023			Reclassification		2023
Consumer
Domain names	$	41,352		$	41,352		$	-	$	41,352
Point of sale system		330,000			330,000			-		330,000
		371,352			371,352			-		371,352
Less: accumulated amortization		(368,598	)		(365,852	)		-		(365,852	)
Sub-total		2,754			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		(2,405,767	)		(2,248,405	)		-		(2,248,405	)
Sub-total		4,145,233			4,302,595			-		4,302,595
Corporate
Enterprise resource planning system		384,242			-					-
Assets under development (1)		-			-			191,075		191,075
		384,242			-			191,075		191,075
Less: accumulated amortization		(19,212	)		-			-		-
Sub-total		365,030			-			191,075		191,075
	$	4,513,017		$	4,308,095		$	-	$	4,499,170

(1) Assets under development relate to the development of our enterprise resource planning system.

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

	Consumer		Commercial		Corporate		Total
2024		2,754		491,325		57,638		551,717
2025		-		655,100		76,848		731,948
2026		-		655,100		76,848		731,948
2027		-		655,100		76,848		731,948
2028		-		655,100		76,848		731,948
Thereafter		-		1,033,508		-		1,033,508
	$	2,754	$	4,145,233	$	365,030	$	4,513,017