| Schedule of Intangible Assets |
As of June 30, 2024 and December 31, 2023 we had the following amounts related to intangible assets and liabilities other than goodwill:
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June 30, 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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$ |
(691,323) |
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$ |
86,142 |
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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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(540,656) |
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348,254 |
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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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(180,000) |
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60,000 |
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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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(122,542) |
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141,394 |
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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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(377,989) |
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6,476 |
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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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2,225,123 |
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(195,629) |
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2,029,494 |
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1,772,659 |
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(110,791) |
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1,661,868 |
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$ |
4,806,795 |
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$ |
(2,108,139) |
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$ |
2,698,656 |
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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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$ |
(2,111,484) |
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$ |
506,684 |
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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 June 30, 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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$ |
170,409 |
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$ |
44,847 |
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$ |
215,256 |
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| Year 2 |
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164,011 |
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107,604 |
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271,615 |
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| Year 3 |
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162,304 |
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126,948 |
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289,252 |
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| Year 4 |
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96,534 |
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136,329 |
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232,863 |
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| Year 5 |
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22,282 |
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137,208 |
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159,490 |
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| Thereafter |
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20,250 |
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976,350 |
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996,600 |
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| Total |
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$ |
635,790 |
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1,529,286 |
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$ |
2,165,076 |
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