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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Asset Impairment [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS The following table provides a summary of our intangible assets:
| September 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 |  |  | (2,336,437) |  |  | 10,407,930 |
Liberty Loan brand | 10 years |  | 340,218 |  |  | (62,296) |  |  | 277,922 |
Non-compete agreements | 10 years |  | 86,113 |  |  | (15,990) |  |  | 70,123 |
Non contractual customer relationships | 5 years |  | 1,952,371 |  |  | (716,119) |  |  | 1,236,252 |
Customer list | 3 years |  | 184,825 |  |  | (112,934) |  |  | 71,891 |
|  |  | $ | 15,338,654 |  |  | $ | (3,274,536) |  |  | $ | 12,064,118 |
| 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 |
Depreciation and amortization expense for intangible assets was $442,427 and $1,327,187 for the three and nine months ended September 30, 2024, respectively, and $442,636 and $1,328,754 for the three and nine months ended September 30, 2023, respectively. As of September 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 (three months remaining) | 442,290 |
2025 | 1,764,026 |
2026 | 1,707,552 |
2027 | 1,675,012 |
2028 | 1,317,072 |
Total | $ | 6,905,952 |

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