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INTANGIBLE ASSETS

12 Months Ended

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