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Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Intangible Assets [Abstract] |
Schedule of Intangible Assets | The following table provides a summary of our intangible assets:
|  | June 30, 2024 |
|  | 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 |  |  |  | (2,017,840 | ) |  |  | 10,726,527 |
Liberty Loan brand |  | 10 years |  |  | 340,218 |  |  |  | (53,823 | ) |  |  | 286,395 |
Non-compete agreements |  | 10 years |  |  | 86,113 |  |  |  | (13,752 | ) |  |  | 72,361 |
Non contractual customer relationships |  | 5 years |  |  | 1,952,371 |  |  |  | (618,396 | ) |  |  | 1,333,975 |
Customer list |  | 3 years |  |  | 184,825 |  |  |  | (97,538 | ) |  |  | 87,287 |
|  |  |  | $ | 15,338,654 |  |  | $ | (2,832,109 | ) |  | $ | 12,506,545 |
|  | December 31, 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 |  |  |  | (1,380,638 | ) |  |  | 11,363,729 |
Liberty Loan brand |  | 10 years |  |  | 340,218 |  |  |  | (36,855 | ) |  |  | 303,363 |
Non-compete agreements |  | 10 years |  |  | 86,113 |  |  |  | (9,334 | ) |  |  | 76,779 |
Non contractual customer relationships |  | 5 years |  |  | 1,952,371 |  |  |  | (423,020 | ) |  |  | 1,529,351 |
Customer list |  | 3 years |  |  | 184,825 |  |  |  | (66,742 | ) |  |  | 118,083 |
|  |  |  | $ | 15,338,654 |  |  | $ | (1,947,349 | ) |  | $ | 13,391,305 |
Schedule of Future Estimated Amortization Expense | As of June 30, 2024, future estimated amortization expense related to identifiable intangible assets over the next five years is set forth in the following table:
|  | Amortization Expense |
2024 (six months remaining) |  |  | 884,580 |
2025 |  |  | 1,764,026 |
2026 |  |  | 1,707,552 |
2027 |  |  | 1,675,012 |
2028 |  |  | 1,317,072 |
Total |  | $ | 7,348,242 |

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