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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

Goodwill and intangible assets consist of the following:

 Schedule of Other Intangible Assets

		December 31, 2024				December 31, 2023
		Successor
		December 31, 2024				December 31, 2023
Goodwill		$	20,007,669			$	20,007,669

 Schedule of Goodwill and Intangible Assets 

		December 31, 2024				December 31, 2023
		Successor
		December 31, 2024				December 31, 2023
Intangible Assets
Customer relationships		$	1,700,000			$	1,700,000
Trade name			2,400,000				2,400,000
Developed technology			2,600,000				2,600,000
Intangible assets, gross			6,700,000				6,700,000
Accumulated amortization			(2,431,668	)			-
Intangible assets, net		$	4,268,332			$	6,700,000

On December 29, 2023, in relation to the acquisition of CardCash (See Note 3), the Company recorded goodwill of $20,007,669.

On December 29, 2023, in relation to the acquisition of CardCash (See Note 3), the Company recorded intangible assets of $6,700,000. During the twelve months ended December 31, 2024, the Company recorded an amortization expense of $2,431,668, leaving a remaining intangible asset balance of $4,268,332 at December 31, 2024.

During the period January 1, 2023 to December 29, 2023, CardCash (Predecessor) recorded amortization expense of $300,000, and at December 29, 2023, determined its Intangible Assets were impaired and recorded an impairment charge of $250,000.

Identifiable intangibles are amortized over their estimated remaining useful lives, which are as follows:

 Schedule of Identifiable Intangibles Assets Estimated Remaining Useful Lives

Description		Weighted Average Useful Life (in years)
Customer relationships		3
Trademarks, trade names and service marks		3
Developed technology		3
Remaining useful lives		3

Amortization expense on intangible assets was as follows:

 Schedule of Amortization Expense on Intangible Assets

		Year Ended December 31, 2024				December 30 to December 31, 2023				January 1, 2023 to December 29, 2023
		Successor								Predecessor
		Year Ended December 31, 2024				December 30 to December 31, 2023				January 1, 2023 to December 29, 2023
Amortization expense		$	2,431,668			$	-			$	300,000

Estimated amortization expense for the Company is as follows:

 Schedule of Estimated Amortization Expense

2025		$	2,134,166
2026			2,134,166
Total		$	4,268,332

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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