Intangible Assets

9 Months Ended

Sep. 30, 2025

Intangible Assets

Intangible Assets

NOTE 4 – INTANGIBLE ASSETS

Intangible assets consisted of the following:

	September 30, 2025			December 31, 2024
Customer relationships	$	2,420,014		$	2,420,014
Supplier relationship		700,207			700,207
Employee expertise		1,719,807			1,719,807
Software development costs		99,609			99,609
		4,939,637			4,939,637
Less: accumulated depreciation		(2,851,363	)		(2,851,363	)
Less: impairment loss		(2,088,274	)		(2,088,274	)
Total intangible assets - net	$	-		$	-

During the three and six months ended September 30, 2025 and 2024, the Company recognized no impairment losses.

As of December 31, 2023, management had not anticipated the significant decline in Gladiator’s future sales and, as a result, recorded only a partial impairment.

In 2024, the loss of key customers led to a significant decline in sales relative to 2023, resulting in revenue projections that could not support the current valuation of the intangible assets. In accordance with ASC 360—“Impairment or Disposal of Long-Lived Assets”—which requires that an impairment loss be recognized when an asset’s carrying amount exceeds its estimated fair value, management determined that the intangible assets used by USS were no longer expected to generate future economic benefits. Consequently, a full impairment loss equal to the carrying amount of these assets was recorded, reducing their balance to $0.