Quarterly report [Sections 13 or 15(d)]

INTANGIBLE ASSETS (Tables)

v3.25.2
INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS AND GOODWILL

Intangible assets, net consists of the following:

 

    June 30, 2025  
    Gross Carrying
Amount
    Accumulated
Amortization
    Net  
Trade names     27,218,404       4,909,860       22,308,544  
Customer relationships     6,915,000       1,968,713       4,946,287  
Enterprise Resource Planning System     291,440       14,572       276,868  
Intangible Assets   $ 34,424,844     $ 6,893,145     $ 27,531,699  

 

    December 31, 2024  
    Gross Carrying
Amount
    Accumulated
Amortization
    Net  
Trade names   $ 27,200,404     $ 3,905,777     $ 23,294,627  
Customer relationships     6,915,000       1,563,780       5,351,220  
Intangible Assets   $ 34,115,404     $ 5,469,557     $ 28,645,847  
SCHEDULE OF AMORTIZATION EXPENSES OF INTANGIBLE ASSETS

As of June 30, 2025, the expected future amortization expense of intangible assets was as follows:

 

Fiscal period:   June 30, 2025  
Remainder of 2025   $ 1,401,162  
2026     2,824,750  
2027     2,824,750  
2028     2,824,750  
2029     2,824,750  
Thereafter     14,831,537  
Total amortization remaining   $ 27,531,699