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INTANGIBLES, NET | 3 Months Ended
--- | ---
Mar. 31, 2024
INTANGIBLES, NET |
INTANGIBLE ASSETS | NOTE 7 — INTANGIBLES, NET The following table summarizes the details of the Company’s intangible assets, net:
|  |  |  |  |  |  |  |  |  |  | Adjusted |
|  | March 31, |  |  | December 31, |  |  |  |  |  | December 31, |
|  | 2024 |  |  | 2023 |  |  | Reclassification |  |  | 2023 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Domain names |  | $ | 41,352 |  |  | $ | 41,352 |  |  | $ | - |  |  | $ | 41,352 |
Point of sale system |  |  | 330,000 |  |  |  | 330,000 |  |  |  | - |  |  |  | 330,000 |
|  |  | 371,352 |  |  |  | 371,352 |  |  |  | - |  |  |  | 371,352 |
Less: accumulated amortization |  |  | (368,598 | ) |  |  | (365,852 | ) |  |  | - |  |  |  | (365,852 | )
Sub-total |  |  | 2,754 |  |  |  | 5,500 |  |  |  | - |  |  |  | 5,500 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks/tradenames |  |  | 2,869,000 |  |  |  | 2,869,000 |  |  |  | - |  |  |  | 2,869,000 |
Customer contracts |  |  | 1,873,000 |  |  |  | 1,873,000 |  |  |  | - |  |  |  | 1,873,000 |
Customer relationships |  |  | 1,809,000 |  |  |  | 1,809,000 |  |  |  | - |  |  |  | 1,809,000 |
|  |  | 6,551,000 |  |  |  | 6,551,000 |  |  |  | - |  |  |  | 6,551,000 |
Less: accumulated amortization |  |  | (2,405,767 | ) |  |  | (2,248,405 | ) |  |  | - |  |  |  | (2,248,405 | )
Sub-total |  |  | 4,145,233 |  |  |  | 4,302,595 |  |  |  | - |  |  |  | 4,302,595 |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Enterprise resource planning system |  |  | 384,242 |  |  |  | - |  |  |  |  |  |  |  | - |
Assets under development (1) |  |  | - |  |  |  | - |  |  |  | 191,075 |  |  |  | 191,075 |
|  |  | 384,242 |  |  |  | - |  |  |  | 191,075 |  |  |  | 191,075 |
Less: accumulated amortization |  |  | (19,212 | ) |  |  | - |  |  |  | - |  |  |  | - |
Sub-total |  |  | 365,030 |  |  |  | - |  |  |  | 191,075 |  |  |  | 191,075 |
|  | $ | 4,513,017 |  |  | $ | 4,308,095 |  |  | $ | - |  |  | $ | 4,499,170 |
(1) Assets under development relate to the development of our enterprise resource planning system. The following table depicts the Company’s estimated future amortization expense related to intangible assets as of March 31, 2024:
|  | Consumer |  |  | Commercial |  |  | Corporate |  |  | Total |
2024 |  |  | 2,754 |  |  |  | 491,325 |  |  |  | 57,638 |  |  |  | 551,717 |
2025 |  |  | - |  |  |  | 655,100 |  |  |  | 76,848 |  |  |  | 731,948 |
2026 |  |  | - |  |  |  | 655,100 |  |  |  | 76,848 |  |  |  | 731,948 |
2027 |  |  | - |  |  |  | 655,100 |  |  |  | 76,848 |  |  |  | 731,948 |
2028 |  |  | - |  |  |  | 655,100 |  |  |  | 76,848 |  |  |  | 731,948 |
Thereafter |  |  | - |  |  |  | 1,033,508 |  |  |  | - |  |  |  | 1,033,508 |
|  | $ | 2,754 |  |  | $ | 4,145,233 |  |  | $ | 365,030 |  |  | $ | 4,513,017 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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