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INTANGIBLE ASSETS AND GOODWILL (Tables) | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | The Company’s intangible assets at June 30, 2023 and December 31, 2022 include the following:
Description |  | Estimated Economic Life |  | June 30, 2023 |  | December 31, 2022
Developed technologies |  | 10 years |  | $ | 19,382,402 |  |  | $ | 19,382,402 |
License agreements |  | 10 years |  | 510,752 |  | 510,752 |
Customer agreements |  | 1 year |  | 122,885 |  | 122,885 |
Distribution agreements |  | 8 years |  | 19,733 |  | 19,733 |
Trademarks |  | 10 years |  | 7,000 |  |  | 7,000 |
Accumulated amortization |  |  |  | (3,379,993) |  |  | (2,379,091) |
Intangible assets, net |  |  |  | $ | 16,662,779 |  |  | $ | 17,663,681 |
Accumulated amortization as of June 30, 2023 and December 31, 2022 consisted of the following:
| June 30, 2023 |  | December 31, 2022
Developed technologies | $ | 3,142,853 |  |  | $ | 2,172,594 |
License agreements | 107,211 |  |  | 78,415 |
Customer agreements | 122,885 |  |  | 122,884 |
Distribution agreements | 5,994 |  |  | 4,497 |
Trademarks | 1,050 |  |  | 701 |
Accumulated amortization | $ | 3,379,993 |  |  | $ | 2,379,091 |
Schedule of Future Minimum Amortization Expense | Future minimum amortization expense is as follows at June 30, 2023:
Remainder of 2023 | $ | 996,750 |
2024 | 1,993,499 |
2025 | 1,993,499 |
2026 | 1,993,499 |
2027 | 1,993,499 |
Thereafter | 7,692,033 |
| $ | 16,662,779 |
Schedule of Changes in Intangible Assets and Goodwill | Changes in the intangible assets and goodwill balances for the six-months ended June 30, 2023 and 2022, are presented below:
|  | As of December 31, 2022 |  | Additions |  | Impairment |  | Amortization |  | As of June 30, 2023
Intangible assets |  | $ | 20,042,772 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 20,042,772 |
Accumulated amortization |  | (2,379,091) |  |  | — |  |  | — |  |  | (1,000,902) |  |  | (3,379,993) |
Total intangible assets and goodwill |  | $ | 17,663,681 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,000,902) |  |  | $ | 16,662,779 |
|  | As of December 31, 2021 |  | Additions |  | Impairment |  | Amortization |  | As of June 30, 2022
Intangible assets |  | $ | 23,514,259 |  |  | $ | 500,000 |  |  | $ | (350,000) |  |  | $ | — |  |  | $ | 23,664,259 |
Accumulated amortization |  | (338,958) |  |  | — |  |  | 11,965 |  |  | (1,110,970) |  |  | (1,437,963) |
Goodwill |  | 12,788,671 |  |  | — |  |  | — |  |  | — |  |  | 12,788,671 |
Total intangible assets and goodwill |  | $ | 35,963,972 |  |  | $ | 500,000 |  |  | $ | (338,035) |  |  | $ | (1,110,970) |  |  | $ | 35,014,967 |

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