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Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Intangible Assets [Abstract] |
INTANGIBLE ASSETS | NOTE 6 - INTANGIBLE ASSETS The following is a summary of the Company’s intangible assets, net as of June 30, 2024 and December 31, 2023:
|  | Weighted |  |  | June 30, 2024 |
|  | Average Useful |  |  | Gross Carrying |  |  | Accumulated |  |  |  |
|  | Life (in years) |  |  | Amount |  |  | Amortization |  |  | Total |
Trade names |  |  | 0.25 |  |  | $ | 3,084,100 |  |  | $ | 2,827,089 |  |  | $ | 257,011 |
Customer lists |  |  | 0 |  |  |  | 496,800 |  |  |  | 496,800 |  |  |  | - |
Non-compete |  |  | 0 |  |  |  | 224,000 |  |  |  | 224,000 |  |  |  | - |
|  |  |  |  |  | $ | 3,804,900 |  |  |  | 3,547,889 |  |  | $ | 257,011 |
|  | Weighted |  |  | December 31, 2023 |
|  | Average Useful |  |  | Gross Carrying |  |  | Accumulated |  |  |  |
|  | Life (in years) |  |  | Amount |  |  | Amortization |  |  | Total |
Trade names |  |  | 1.5 |  |  | $ | 3,084,100 |  |  | $ | 2,313,072 |  |  | $ | 771,028 |
Customer lists |  |  | 1 |  |  |  | 496,800 |  |  |  | 496,800 |  |  |  | - |
Non-compete |  |  | 1 |  |  |  | 224,000 |  |  |  | 224,000 |  |  |  | - |
|  |  |  |  |  | $ | 3,804,900 |  |  | $ | 3,033,872 |  |  | $ | 771,028 |
The Company periodically reviews the estimated useful lives of its identifiable intangible assets, taking into consideration any events or circumstances that might result in either a diminished fair value or revised useful life. Management has determined there have been no indicators of impairment or change in useful life for the years ended June 30, 2024 and 2023. Amortization expense relating to the Company’s intangible assets was $257,009 and $324,584 for the three months ended June 30, 2024 and 2023, respectively, and $514,017 and $649,166 for the six months ended June 30, 2024 and 2023, respectively, which were included in depreciation and amortization expenses on the accompanying condensed consolidated statements of operations.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
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