Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets

Intangible Assets

4. Intangible Assets

The Company’s intangible assets are as follows:

	December 31, 2023			December 31, 2022
Customer relationships	$	2,420,014		$	2,420,014
Supplier relationships		700,207			700,207
Employee expertise		1,719,807			1,719,807
Software development costs		99,609			99,609
Less: impairment loss		(911,467	)		-
Less: accumulated amortization		(1,939,896	)		(789,357	)
Net intangible assets	$	2,088,274		$	4,150,280

Amortization expense for the years ended December 31, 2023 and 2022 equated to $1,150,539 and $780,086, respectively and is included in selling, general, and administrative expenses in the consolidated statements of operations. During the year ended December 31, 2023, the company recognized an impairment loss of $911,467 on assets acquired as part of the business combination with Gladiator, due to the uncertainty of future operations of that entity.