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INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 7 – INTANGIBLE ASSETS

 

The following table represents the balances of intangible assets as of March 31, 2025 and December 31, 2024:

 

 

 

Estimated life

 

March 31,

2025

 

 

December 31,

2024

 

Website Domains

 

Indefinite

 

$297,323

 

 

$297,323

 

Website Domains

 

4 years

 

 

497,500

 

 

 

497,500

 

Customer relationships

 

4-6 years

 

 

2,081,148

 

 

 

2,081,148

 

Trademarks and Tradenames

 

10 years

 

 

1,120,000

 

 

 

1,120,000

 

Non-compete agreements

 

3 years

 

 

252,500

 

 

 

252,500

 

 

 

 

 

 

4,248,471

 

 

 

4,248,471

 

Accumulated Amortization - Website domains

 

 

 

 

(157,040 )

 

 

(125,946 )

Accumulated Amortization - Customer Relationships

 

 

 

 

(844,638 )

 

 

(626,994 )

Accumulated Amortization - Trademarks / Tradenames

 

 

 

 

(109,834 )

 

 

(81,834 )

Accumulated Amortization - Non-Compete

 

 

 

 

(114,860 )

 

 

(90,486 )

Net Intangible

 

 

 

$3,022,099

 

 

$3,323,211

 

 

For the three months ended March 31, 2025 and 2024, the Company recognized $301,112 and $125,219, respectively, of amortization expense related to intangible assets.

 

The following is an amortization analysis of the annual amortization of intangible assets on a fiscal year basis as of March 31, 2025:

 

For the year ended December 31, schedule of annual expected amortization expense

 

Amount

 

 

 

 

 

2025 (9 months remaining)

 

$898,337

 

2026

 

 

706,907

 

2027

 

 

297,156

 

2028

 

 

375,125

 

Thereafter

 

 

447,250

 

Total remaining intangibles amortization

 

$2,724,775