Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible assets and liabilities other than goodwill (Tables)

v3.25.1
Intangible assets and liabilities other than goodwill (Tables)
12 Months Ended
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Finite-Lived Intangible Assets
Intangible assets and liabilities at December 31, 2024 and 2023 consist of the following:

December 31, 2024 December 31, 2023
Intangible assets Cost Accumulated Amortization Net Cost Accumulated Amortization Net
Product certifications $ 777,465  $ (709,855) $ 67,610  $ 777,465  $ (658,676) $ 118,789 
Patents 888,910  (584,493) 304,417  888,910  (496,807) 392,103 
Developed technology 240,000  (188,000) 52,000  240,000  (172,000) 68,000 
Trademarks 26,896  —  26,896  26,896  —  26,896 
In process R&D 263,936  (141,394) 122,542  263,936  (103,689) 160,247 
Favorable contract assets 384,465  (379,839) 4,626  384,465  (376,139) 8,326 
Customer contract $ 2,225,123  $ (290,025) 1,935,098  $ 1,772,659  $ (110,791) 1,661,868 
$ 4,806,795  $ (2,293,606) $ 2,513,189  $ 4,354,331  $ (1,918,102) $ 2,436,229 
Intangible liability
Unfavorable contract liability $ 2,618,168  $ (2,195,329) $ 422,839  $ 2,618,168  $ (2,019,122) $ 599,046 
Schedule of Estimated Future Amortization Expense Aggregate future amortization over the next five years is estimated to be as follows:
Non-contract related intangibles Contract related intangibles Total
2025 $ 169,754  $ 79,042  $ 248,796 
2026 168,244  124,483  292,727 
2027 167,936  131,199  299,135 
2028 23,278  137,208  160,486 
2029 5,786  137,208  142,994 
Thereafter 11,571  907,745  919,316 
  $ 546,569  $ 1,516,885  $ 2,063,454