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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | NOTE 5 – INTANGIBLE ASSETS Intangible assets consist of the following at December 31, 2024 and 2023:
|  | 2024 |  |  | 2023 |
License |  | $ | 7,257,938 |  |  | $ | 6,876,169 |
Trade name / mark |  |  | 390,188 |  |  |  | 392,197 |
Customer base |  |  | 626,397 |  |  |  | 602,204 |
Software |  |  | 1,113,840 |  |  |  | 373,067 |
|  |  | 9,388,363 |  |  |  | 8,243,637 |
Less: Accumulated amortization & impairment |  |  |  |  |  |  |  |
License |  |  | (1,117,341 | ) |  |  | (326,795 | )
Trade name / mark |  |  | (36,997 | ) |  |  | (36,997 | )
Customer base |  |  | (174,279 | ) |  |  | (110,161 | )
Software |  |  | (352,909 | ) |  |  | (11,789 | )
Subtotal |  |  | 7,706,837 |  |  |  | 7,757,895 |
Goodwill |  |  | 49,697 |  |  |  | 49,697 |
Total |  | $ | 7,756,534 |  |  | $ | 7,807,592 |
Amortization expense was $793,836 and $239,841 for the years ended December 31, 2024, and 2023, respectively. In addition, the Company recorded an impairment charge of $291,980 for the year ended December 31, 2024 ($0 for the year ended December 31, 2023), related to a telehealth platform categorized as software under intangible assets and certain pharmaceutical products classified under the "licenses" category. These impairments were recognized due to indications of diminished recoverability based on management’s assessment of market conditions and expected future cash flows. On December 31, 2024, the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years is as follows:
Year |  | Amount |
2025 |  | $ | 861,557 |
2026 |  |  | 862,445 |
2027 |  |  | 862,148 |
2028 |  |  | 861,775 |
2029 |  |  | 842,441 |
Thereafter |  |  | 3,061,271 |
Sum |  | $ | 7,351,637 |

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