| Schedule of Intangible Assets |
As of March 31, 2024 and December 31, 2023 we had the following amounts related to intangible assets and liabilities other than goodwill:
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March 31, 2024 |
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December 31, 2023 |
| Intangible assets |
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Cost |
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Accumulated Amortization |
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Total |
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Cost |
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Accumulated Amortization |
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Total |
| Product certifications |
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$ |
777,465 |
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$ |
(675,397) |
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$ |
102,068 |
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$ |
777,465 |
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$ |
(658,676) |
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$ |
118,789 |
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| Patents |
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888,910 |
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(518,731) |
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370,179 |
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888,910 |
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(496,807) |
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392,103 |
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| Developed technology |
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240,000 |
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(176,000) |
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64,000 |
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240,000 |
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(172,000) |
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68,000 |
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| Trademarks |
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26,896 |
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— |
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26,896 |
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26,896 |
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— |
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26,896 |
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| In Process R&D |
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263,936 |
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(113,115) |
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150,821 |
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263,936 |
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(103,689) |
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160,247 |
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| Favorable contract asset |
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384,465 |
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(377,063) |
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7,402 |
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384,465 |
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(376,138) |
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8,327 |
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| Customer contracts |
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1,962,298 |
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(150,552) |
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1,811,746 |
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1,772,659 |
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(110,791) |
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1,661,868 |
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$ |
4,543,970 |
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$ |
(2,010,858) |
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$ |
2,533,112 |
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$ |
4,354,331 |
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$ |
(1,918,101) |
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$ |
2,436,230 |
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| Intangible liability |
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| Unfavorable contract liability |
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$ |
2,618,168 |
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$ |
(2,066,580) |
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$ |
551,588 |
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$ |
2,618,168 |
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$ |
(2,019,122) |
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$ |
599,046 |
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| Schedule of Future Amortization Expense |
Aggregate future amortization over the next five years and thereafter as of March 31, 2024 is estimated to be as follows:
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Non-contract Related Intangibles |
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Contract Related Intangibles |
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Total |
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Year 1
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$ |
183,995 |
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$ |
1,883 |
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$ |
185,878 |
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| Year 2 |
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168,489 |
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67,329 |
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235,818 |
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| Year 3 |
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162,381 |
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102,012 |
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264,393 |
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| Year 4 |
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138,362 |
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109,678 |
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248,040 |
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| Year 5 |
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20,621 |
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113,122 |
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133,743 |
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| Thereafter |
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20,620 |
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866,136 |
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886,756 |
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| Total |
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$ |
694,468 |
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1,260,160 |
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$ |
1,954,628 |
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