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Technology Licenses, Net | 9 Months Ended
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Sep. 30, 2025
Technology Licenses, Net |
Technology Licenses, Net | Note 7 – Technology Licenses, Net ​ The changes in the Company’s Technology Licenses for the nine months ended September 30, 2025 and the year ended December 31, 2024, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Licenses | ​ | $ | 2,443,356 | ​ | $ | 32,443,356
Write-Offs | ​ |  | — | ​ |  | (30,000,000)
Less: Accumulated Amortization | ​ |  | (1,833,116) | ​ |  | (1,682,313)
Licenses, Net | ​ | $ | 610,240 | ​ | $ | 761,043
​ Total amortization expense related to technology licenses for the three months ended September 30, 2025 and 2024 was $50,269 and $50,267, respectively. Total amortization expense related to technology licenses for the nine months ended September 30, 2025 and 2024 was $150,803 and $1,708,402, respectively. ​ On June 30, 2024, the Company decided to cease further funding of development activities with Atomistic SAS (“Atomistic”) under the license agreement dated December 16, 2022 among the Company, Atomistic, and Atomistic’s two principals (the “License Agreement”). The Company’s decision gave Atomistic the right under the License Agreement to terminate the Granted License (as defined under the License Agreement), which right Atomistic exercised on July 1, 2024. As a result of the termination of the Granted License, the Company determined that the technology license asset, with a net book value as of June 30, 2024 of $24,335,554, had been impaired as the Company no longer held exclusive licensing rights to the technology for its use. ​ Notwithstanding the termination of the Granted License, the Company will be entitled to certain License Royalties (as defined under the License Agreement) from Atomistic if Atomistic licenses the technology that was the subject of the Granted License.

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