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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 11. INTANGIBLE ASSETS

 

Intangible assets, net consist of the following as of December 31, 2025 and 2024:

 

December 31, 2025 

Useful Lives

(Years)

 

Gross

Carrying
Amount

  

Accumulated

Amortization

  

Net

Carrying
Amount

 
Trade names  8-13 years  $4,489,000   $(1,889,394)  $2,599,606 
Customer relationships  4-6 years   2,669,000    (1,926,306)   742,694 
Non-compete  4-5 years   2,322,000    (1,366,685)   955,315 
Intangible assets, net     $9,480,000   $(5,182,385)  $4,297,615 

 

December 31, 2024 

Useful Lives

(Years)

 

Gross

Carrying
Amount

  

Accumulated

Amortization

  

Net

Carrying
Amount

 
Trade names  8-13 years  $4,444,000   $(1,427,798)  $3,016,202 
Customer relationships  4-6 years   2,669,000    (1,628,639)   1,040,361 
Non-compete  4-5 years   2,322,000    (937,085)   1,384,915 
Intangible assets, net     $9,435,000   $(3,993,522)  $5,441,478 

 

Intangible assets are amortized on a straight-line basis. Amortization expense was approximately $1.2 million and $1.0 million for the years ended December 31, 2025 and 2024, respectively.

 

 

The weighted-average remaining amortization period of the Company’s amortizable intangible assets is approximately 5 years as of December 31, 2025. The estimated future amortization of the intangible assets is as follows:

 

For the years ending December 31,    
2026  $1,108,076 
2027   969,271 
2028   659,832 
2029   452,396 
2030   268,940 
Thereafter   839,100 
Total  $4,297,615