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Technology Licenses, Net

12 Months Ended

Dec. 31, 2025

Note 6 — Technology Licenses, Net


		December 31,			December 31,
		2025			2024

Licenses		$	2,443,356		$	32,443,356
Write-Offs			—			(30,000,000)
Less: Accumulated Amortization			(1,883,383)			(1,682,313)
Licenses, Net		$	559,973		$	761,043

Total amortization expense related to these intangible technology licenses in the years ended December 31, 2025, 2024, and 2023 was $201,069, $1,553,334, and $3,307,737, respectively. The estimated aggregate annual amortization expense for the next three fiscal years is approximately $202,000.

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 it licenses the technology that was the subject of the granted license.