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Goodwill and Intangible Assets (Tables)
12 Months Ended
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