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GOODWILL AND INTANGIBLES, NET | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES, NET | NOTE 4 – GOODWILL AND INTANGIBLES, NET The changes in the carrying amount of the Company’s goodwill were as follows: SCHEDULE OF CHANGES IN THE CARRYING AMOUNT OF THE GOODWILL
|  | Total |
Balance as of December 31, 2022 |  | $ | 3,601,781 |
Acquisitions |  |  | - |
Balance as of December 31, 2023 |  |  | 3,601,781 |
Acquisitions |  |  | - |
Balance as of June 30, 2024 |  | $ | 3,601,781 |
In connection with the change in reportable operating segments, the Company reassessed goodwill with respect to the change in reportable operating segments as they are presented in this report. Goodwill was recorded in connection with the acquisition of Scendia and is included entirely within the Sanara Surgical Segment. The Company’s assessment determined that these changes, or any other matters noted, did not alter the Company’s conclusion that goodwill is not impaired as of June 30, 2024 or for the periods then ended. The carrying values of the Company’s intangible assets were as follows for the periods presented: SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS
|  | June 30, 2024 |  |  | December 31, 2023 |
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Accumulated |  |  |  |
|  | Cost |  |  | Amortization |  |  | Net |  |  | Cost |  |  | Amortization |  |  | Net |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Licenses |  | $ | 4,793,879 |  |  | $ | (1,535,647 | ) |  | $ | 3,258,232 |  |  | $ | 4,793,879 |  |  | $ | (1,342,626 | ) |  | $ | 3,451,253 |
Patents and Other IP |  |  | 38,566,549 |  |  |  | (4,348,964 | ) |  |  | 34,217,585 |  |  |  | 38,570,549 |  |  |  | (3,181,186 | ) |  |  | 35,389,363 |
Customer relationships and other |  |  | 7,947,332 |  |  |  | (2,445,745 | ) |  |  | 5,501,587 |  |  |  | 7,947,332 |  |  |  | (1,861,887 | ) |  |  | 6,085,445 |
Total |  | $ | 51,307,760 |  |  | $ | (8,330,356 | ) |  | $ | 42,977,404 |  |  | $ | 51,311,760 |  |  | $ | (6,385,699 | ) |  | $ | 44,926,061 |
As of June 30, 2024, the weighted-average amortization period for finite-lived intangible assets was 14.5 years. Amortization expense related to intangible assets was $972,206 and $695,202 for the three months ended June 30, 2024 and 2023, respectively, and $1,944,657 and $1,366,403 for the six months ended June 30, 2024 and 2023, respectively. The estimated remaining amortization expense as of June 30, 2024 for finite-lived intangible assets is as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE
Remainder of 2024 |  | $ | 1,944,768 |
2025 |  |  | 3,889,537 |
2026 |  |  | 3,872,281 |
2027 |  |  | 3,758,429 |
2028 |  |  | 3,725,187 |
2029 |  |  | 3,725,187 |
Thereafter |  |  | 22,062,015 |
Total |  | $ | 42,977,404 |
The Company has reviewed the carrying value of intangible assets and has determined there was no impairment during the six months ended June 30, 2024 or 2023.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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