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Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Intangible Assets [Abstract] |
INTANGIBLE ASSETS | 6. INTANGIBLE ASSETS The following table provides a summary of our intangible assets:
|  | September 30, 2023
|  | Estimated Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patent |  | 10 years |  | $ | 30,760 |  |  | $ | (30,760 | ) |  | $ | - |
Franchisee contract-based agreements |  | 10 years |  |  | 12,744,367 |  |  |  | (1,062,029 | ) |  |  | 11,682,338 |
Liberty Loan brand |  | 10 years |  |  | 340,218 |  |  |  | (28,350 | ) |  |  | 311,868 |
Non-compete agreements |  | 10 years |  |  | 86,113 |  |  |  | (7,180 | ) |  |  | 78,933 |
Non contractual customer relationships |  | 5 years |  |  | 1,952,371 |  |  |  | (325,400 | ) |  |  | 1,626,971 |
Customer list |  | 3 years |  |  | 184,825 |  |  |  | (51,340 | ) |  |  | 133,485 |
|  |  |  | $ | 15,338,654 |  |  | $ | (1,505,059 | ) |  | $ | 13,833,595 |
|  | December 31, 2022
|  | Estimated Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patent |  | 10 years |  | $ | 30,760 |  |  | $ | (28,876 | ) |  | $ | 1,884 |
Franchisee contract-based agreements |  | 10 years |  |  | 12,744,367 |  |  |  | (106,203 | ) |  |  | 12,638,164 |
Liberty Loan brand |  | 10 years |  |  | 340,218 |  |  |  | (2,835 | ) |  |  | 337,383 |
Non-compete agreements |  | 10 years |  |  | 86,113 |  |  |  | (718 | ) |  |  | 85,395 |
Non contractual customer relationships |  | 5 years |  |  | 1,952,371 |  |  |  | (32,540 | ) |  |  | 1,919,831 |
Customer list |  | 3 years |  |  | 184,825 |  |  |  | (5,133 | ) |  |  | 179,692 |
|  |  |  | $ | 15,338,654 |  |  | $ | (176,305 | ) |  | $ | 15,162,349 |
Depreciation and amortization expense for intangible assets was $442,636 and $1,328,754 for the three and nine months ended September 30, 2023, respectively, and $769 and $2,307 for the three and nine months ended September 30, 2022, respectively. As of September 30, 2023, future estimated amortization expense related to identifiable intangible assets over the next five years is set forth in the following table:
|  | Amortization Expense |
2023 (three months remaining) |  | $ | 442,290 |
2024 |  |  | 1,769,160 |
2025 |  |  | 1,764,026 |
2026 |  |  | 1,707,552 |
2027 |  |  | 1,675,012 |
Total |  | $ | 7,358,040 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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