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INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

9. INTANGIBLE ASSETS, NET

 

At September 30, 2025 and December 31, 2024, intangible assets consisted of:

 

             
   Useful Life  September 30, 2025   December 31, 2024 
Definite lived intangible assets:             
Customer list   10 years  $1,290,000   $1,290,000 
Trade names   12 years   1,030,000    1,030,000 
Developed technology   7 years   -    60,000 
       2,320,000    2,380,000 
Accumulated amortization      (734,000)   (536,000)
Total definite-lived intangible assets     $1,586,000   $1,844,000 

 

Certain of the Company’s trade names and trademarks were determined to have an indefinite life. The remaining definite-lived intangible assets are primarily being amortized on a straight-line basis over their estimated useful lives.

 

Summary of amortization expense:

 

        
   For the Three Months Ended   For the Nine Months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
Amortization expense  $66,000   $371,000   $258,000   $479,000 

 

As of September 30, 2025, intangible assets subject to amortization have an average remaining useful life of 6.6 years. The following table presents estimated amortization expense for each of the succeeding five calendar years and thereafter.

 

      
2025 (remainder)    $66,000 
2026    264,000 
2027    264,000 
2028    264,000 
2029    264,000 
Thereafter     464,000 
    $1,586,000