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NOTE 6 – INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
NOTE 6 – INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets at March 31, 2025 and December 31, 2024 consisted of the following:

 

2025

 

  Useful life  Gross carrying amount  Accumulated amortization  Net carrying amount
New gas regulator intangible  Not yet in service  $99,592   $—      99,592 
Interconnection agreements  16 years   7,700,000    (481,251)   7,218,749 
      $7,799,592   $(481,251)  $7,318,341 

 

2024

 

    Useful life   Gross carrying amount   Accumulated amortization   Net carrying amount
New gas regulator intangible   Not yet in service   $ 99,592     $ —       $ 99,592  
Interconnection agreements   16 years     7,700,000       (360,938 )     7,339,062  
        $ 7,799,592     $ (360,938 )   $ 7,438,654  

 

Amortization expense for the three months ended March 31, 2025 and 2024 amounted to $120,313 and $0, respectively.

 

The following table outlines the estimated future amortization expense as of March 31, 2025:

 

 Years ending December 31

2025 (9 months remaining)   $360,937 
2026    481,250 
2027    481,250 
2028    481,250 
2029    481,250 
Thereafter    4,932,812 
    $7,218,749