Intangible Assets

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Intangible Assets

Intangible assets

Note 4 – Intangible Assets

In 2022, the Company acquired the intellectual property of MFB California, 19 patents centered around its MFB Technology for the prevention and spread of wildfires.

As of September 30, 2024 and December 31, 2023, finite lived intangible assets consisted of the following:

	September 30			December 31
	2024			2023
Patents	$	4,195,353		$	4,195,353
Accumulated amortization		(436,088	)		(247,247	)
Intangible assets, net	$	3,759,265		$	3,948,106

Estimated future amortization expense for finite lived intangibles are as follows:

2024 (excluding the nine months ended September 30, 2024)	$	59,774
2025		247,931
2026		247,931
2027		247,931
2028		247,931
Thereafter		2,707,767
	$	3,759,265

As of September 30, 2024, the weighted-average useful life is 15.00 years.

For the three and nine months ended September 30, 2024 and 2023, amortization expense is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Amortization	$	63,175	$	123,623	$	188,841	$	185,435

Note 6 – Intangible Assets, net

The Company has capitalized the costs associated with acquiring the intellectual property of MFB (see Note 3) at a value of $4,195,353 as of December 31, 2023 and 2022, respectively.

The amount capitalized consisted of a portion of the fair value of 1,000,000 shares of Convertible Preferred C stock of $4,200,000. During the year ended December 31, 2023, no additional costs met the criteria for capitalization as an intangible asset.

As of December 31, 2023 and 2022, finite lived intangible assets consisted of the following:

	December 31			December 31
	2023			2022
Patents	$	4,195,353		$	4,195,353
Accumulated amortization		(247,247	)		-
Intangible assets, net	$	3,948,106		$	4,195,353

Estimated future amortization expense for finite lived intangibles are as follows:

Year ended December 31,
2024	$	247,931
2025		247,931
2026		247,931
2027		247,931
2028		247,931
Thereafter		2,708,451
	$	3,948,106

As of December 31, 2023, the weighted-average useful life is 16.11 years.

During the year ended December 31, 2023 and 2022, the amortization expense was $247,247 and $0, respectively. The Company commenced with amortization during 2023, when we started operations using the acquired assets.