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Note 7 - Intangible Assets
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

7. INTANGIBLE ASSETS

 

Intangible assets were valued using the relief from royalty method and were amortized to costs of goods sold over their useful lives, which was estimated to be 10 years.

 

Intangible assets as of December 31, 2025 consisted of the following:

 

  

Gross

         
  

Carrying

  

Accumulated

  

Net Book

 
  

Value

  

Amortization

  

Value

 

Developed technology

 $184,100  $(184,100) $— 

Customer relationships

  1,300   (1,300)  — 

Non-compete agreements

  5,640   (5,640)  — 

Total

 $191,040  $(191,040) $— 

 

Intangible assets as of December 31, 2024 consisted of the following:

 

  

Gross

         
  

Carrying

  

Accumulated

  

Net Book

 
  

Value

  

Amortization

  

Value

 

Developed technology

 $184,100  $(165,690) $18,410 

Customer relationships

  1,300   (1,170)  130 

Non-compete agreements

  5,640   (5,076)  564 

Total

 $191,040  $(171,936) $19,104 

  

Amortization expense on intangible assets was $19,104 during both of the years ended December 31, 2025 and 2024.