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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets [Abstract] |
Schedule of Goodwill on the Consolidated Balance Sheet | Changes in the carrying amount of goodwill on the consolidated balance sheet consist of the following:
Balance at January 1, 2022 |  | $ | 14,740,031 |
Acquisitions |  |  | 7,933,789 |
Impairments |  |  | — |
Balance January 1, 2023 |  | $ | 22,673,820 |
Acquisitions |  |  | 56,993,258 |
Disposal of business |  |  | (1,310,004 | )
Impairments |  |  | — |
Balance December 31, 2023 |  | $ | 78,357,074 |
Schedule of Intangible Assets Included on the Consolidated Balance Sheets | Intangible assets included on the consolidated balance sheets consist of the following:
|  | December 31, 2023 |  |  |  |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Weighted Average Life Remaining |
Patent rights |  | $ | 7,163,729 |  |  | $ | 978,987 |  |  | $ | 6,184,742 |  |  |  | 8.8 |
Technology assets |  |  | 12,387,622 |  |  |  | 3,374,866 |  |  |  | 9,012,756 |  |  |  | 6.6 |
Other intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradename |  |  | 134,000 |  |  |  | — |  |  |  | 134,000 |  |  |  | 10.7 |
Non-compete agreements |  |  | 1,093,000 |  |  |  | 1,093,000 |  |  |  | — |  |  |  | — |
Customer relationships |  |  | 34,923,000 |  |  |  | 858,916 |  |  |  | 34,064,084 |  |  |  | 14.6 |
Total Tradename and customer relationships |  |  | 36,150,000 |  |  |  | 1,951,916 |  |  |  | 34,198,084 |  |  |  |  |
Total intangible assets |  | $ | 55,701,351 |  |  | $ | 6,305,769 |  |  | $ | 49,395,582 |  |  |  |  |
|  | December 31, 2022 |  |  |  |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Weighted Average Life Remaining |
Patent rights |  | $ | 3,364,729 |  |  | $ | 1,424,551 |  |  | $ | 1,940,178 |  |  |  | 8.5 |
Technology assets |  |  | 12,859,660 |  |  |  | 5,156,765 |  |  |  | 7,702,895 |  |  |  | 5.1 |
Other intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradename |  |  | 3,586,000 |  |  |  | 776,966 |  |  |  | 2,809,034 |  |  |  | 11.7 |
Non-compete agreements |  |  | 1,093,000 |  |  |  | 1,093,000 |  |  |  | — |  |  |  | — |
Customer relationships |  |  | 923,000 |  |  |  | 352,196 |  |  |  | 570,804 |  |  |  | 7.4 |
Total other |  |  | 5,602,000 |  |  |  | 2,222,162 |  |  |  | 3,379,838 |  |  |  |  |
Total intangible assets |  | $ | 21,826,389 |  |  | $ | 8,803,478 |  |  | $ | 13,022,911 |  |  |  |  |
Schedule of Intangibles are Being Amortized on a Straight-Line Basis | Intangibles are being amortized on a straight-line basis over the following estimated useful lives.
Patents |  | 15 – 17 years
Tradenames |  | 15 years
Non-compete agreements |  | 2 – 4 years
Customer relationships |  | 8 years
Technology assets |  | 3 – 10 years
Schedule of Future Amortization Expenses of Intangibles Assets | Expected future amortization expense of the intangibles assets as of December 31, 2023 is as follows:
Year ended December 31, |  |  |
2024 |  | $ | 4,202,841 |
2025 |  |  | 4,128,899 |
2026 |  |  | 4,079,117 |
2027 |  |  | 3,972,613 |
2028 |  |  | 3,724,330 |
Thereafter |  |  | 29,287,782 |
Total |  | $ | 49,395,582 |

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