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Intangibles
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles

Note 4 – Intangibles

 

Intangibles consisted of the following:

 

           Estimated Useful
Type  September 30, 2024   December 31, 2023   Lives (Years)
            
Proprietary Software  $4,286,402   $4,286,402   7
Tradenames/trademarks   617,474    617,474   15
ECS membership agreement   465,000    465,000   1
Noncompetition agreement   201,389    201,389   2
Customer Relationships   183,255    183,255   5
Intangibles - gross   5,753,520    5,753,520    
Less: accumulated amortization   (4,117,181)   (3,627,050)   
Intangibles - net  $1,636,339   $2,126,470    

 

Amortization expense for the three months ended September 30, 2024 and 2023 was $163,377, respectively.

 

Amortization expense for the nine months ended September 30, 2024 and 2023 was $490,131, respectively.

 

Estimated amortization expense for each of the succeeding years is as follows:

 

For the Years Ended December 31:    
     
2024 (3 Months)   163,377 
2025   653,507 
2026   653,507 
2027   165,948 
Total  $1,636,339 

 

 

SURGEPAYS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2024