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Note 6 - Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

NOTE 6 INTANGIBLE ASSETS AND GOODWILL

The Company’s intangible assets at March 31, 2026 and December 31, 2025 include the following:

		*Estimated*
		*Economic Life*
Description		*(in years)*			*March 31, 2026*				*December 31, 2025*

Developed technologies		10			$	29,780,018			$	29,780,018
License agreements		10				499,952				499,952
Distribution agreements		8				19,733				19,733
Accumulated amortization						(6,336,709	)			(5,356,315	)
Intangible assets, net					$	23,962,994			$	24,943,388

Accumulated amortization as of March 31, 2026 and December 31, 2025 consisted of the following:

		*March 31, 2026*				*December 31, 2025*
Developed technologies		$	6,084,327			$	5,116,765
License agreements			238,146				226,063
Distribution agreements			14,236				13,487
Accumulated amortization		$	6,336,709			$	5,356,315

For the three-months ended March 31, 2026 and 2025, amortization expense related to intangible assets was $980,394 and $217,978, respectively.

Future minimum amortization expense is as follows at March 31, 2026:

Remainder of 2026		$	2,941,185
2027			3,921,579
2028			3,918,834
2029			3,918,582
2030			3,918,582
Thereafter			5,344,232
		$	23,962,994

Changes in the intangible assets and goodwill balances for the three-months ended March 31, 2026 and 2025, are presented below:

		*As of December 31, 2025*				*Additions*				*Impairment*				*Amortization*				*As of March 31, 2026*
Intangible assets		$	30,299,703			$	—			$	—			$	—			$	30,299,703
Accumulated amortization			(5,356,315	)			—				—				(980,394	)			(6,336,709	)
Goodwill			1,507,154				—				—				—				1,507,154
Total intangible assets and goodwill		$	26,450,542			$	—			$	—			$	(980,394	)		$	25,470,148

		*As of December 31, 2024*				*Additions*				*Impairment*				*Amortization*				*As of March 31, 2025*
Intangible assets		$	8,706,972			$	180,000			$	—			$	—			$	8,886,972
Accumulated amortization			(2,847,820	)			—				—				(217,978	)			(3,065,798	)
Total intangible assets		$	5,859,152			$	180,000			$	—			$	(217,978	)		$	5,821,174

All intangibles and goodwill are associated with our Fuels Segment.