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NOTE 7 – INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
NOTE 7 – INTANGIBLE ASSETS

NOTE 7 – INTANGIBLE ASSETS

 

Intangible assets at December 31, 2024 and 2023 consisted of the following:

 

2024

   Useful life  Gross carrying amount  Accumulated amortization  Net carrying amount
New gas regulator intangible  *  $99,592   $—     $99,592 
Interconnection agreements  16 years   7,700,000    (360,938)   7,339,062 
      $7,799,592   $(360,938)  $7,438,654 

 

(*) Not yet in service

2023

   Useful life  Gross carrying amount  Accumulated amortization  Net carrying amount
New gas regulator intangible  *  $99,592   $—     $99,592 

 

(*) Not yet in service

 

Amortization expense for the years ended December 31, 2024 and 2023 amounted to $360,938 and $0.

 

The following table outlines the estimated future amortization expense as of December 31, 2024:

 

2025   $ 481,250
2026     481,250
2027     481,250
2028     481,250
2029     481,250
Thereafter     4,932,812
    $ 7,339,062