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Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets

The components of goodwill and other intangible assets were as follows:

 

June 30, 2024 (Unaudited)

 

Estimated
Useful Life

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Finite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

5 years

 

$

39,250,000

 

 

$

21,557,928

 

 

$

17,692,072

 

Software

 

7 years

 

 

4,918,310

 

 

 

2,026,682

 

 

 

2,891,628

 

Trademarks

 

7 years

 

 

2,026,163

 

 

 

801,922

 

 

 

1,224,241

 

Non-compete agreements

 

3 years

 

 

2,250,000

 

 

 

1,966,945

 

 

 

283,055

 

Total finite lived intangible assets

 

 

 

$

48,444,473

 

 

$

26,353,477

 

 

$

22,090,996

 

 

December 31, 2023

 

Estimated
Useful Life

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Finite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

5 years

 

$

39,250,000

 

 

$

17,636,463

 

 

$

21,613,537

 

Software

 

7 years

 

 

4,230,291

 

 

 

1,819,287

 

 

 

2,411,004

 

Trademarks

 

7 years

 

 

2,026,163

 

 

 

657,331

 

 

 

1,368,832

 

Non-compete agreements

 

3 years

 

 

2,250,000

 

 

 

1,591,945

 

 

 

658,055

 

Total finite lived intangible assets

 

 

 

$

47,756,454

 

 

$

21,705,026

 

 

$

26,051,428

 

Schedule of Indefinite-Lived Intangible Assets

June 30, 2024 (Unaudited) and December 31, 2023

 

Estimated
Useful Life

 

Carrying
Amount

 

Indefinite lived intangible asset:

 

 

 

 

 

Goodwill

 

Indefinite

 

$

85,828,238