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Intangible Assets (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Intangible Assets [Abstract]    
Schedule of Intangible Assets

Intangible assets consisted of the following:

June 30, 2024

 

Gross
Amount

 

Accumulated
Amortization

 

Net
Balance

 

Weighted
Average
Remaining
Useful Life

Licenses

 

$

1,185,633

 

$

733,143

 

$

452,490

 

5.67

December 31, 2023

 

Gross
Amount

 

Accumulated
Amortization

 

Net
Balance

 

Weighted
Average
Remaining
Useful Life

Licenses

 

$

1,235,633

 

$

703,623

 

$

532,010

 

6.61

Intangible assets consisted of the following:

December 31, 2023

 

Gross
Amount

 

Accumulated
Amortization

 

Net
Balance

 

Weighted
Average
Remaining
Useful Life

Licenses

 

$

1,235,633

 

$

703,623

 

$

532,010

 

6.61

December 31, 2022

 

Gross
Amount

 

Accumulated
Amortization

 

Net
Balance

 

Weighted
Average
Remaining
Useful Life

Licenses

 

$

1,235,633

 

$

621,247

 

$

614,386

 

7.58

Schedule of Estimated Future Annual Amortization Expense Related to Intangible Assets

The following table outlines the estimated future annual amortization expense related to intangible assets as of June 30, 2024:

Year Ending December 31,

   

2024

 

$

39,522

2025

 

 

79,042

2026

 

 

79,042

2027

 

 

79,042

2028

 

 

79,042

Thereafter

 

 

96,800

Total

 

$

452,490

The following table outlines the estimated future annual amortization expense related to intangible assets as of December 31, 2023:

Years ended December 31,

 

 

 

2024

 

$

82,376

2025

 

 

82,376

2026

 

 

82,376

2027

 

 

82,376

2028

 

 

82,376

Thereafter

 

 

120,130

Total

 

$

532,010