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

INTANGIBLE ASSETS

INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

Intangible assets were comprised of the following:

SCHEDULE OF INTANGIBLE ASSETS

	December 31, 2024
	Gross carrying amount		Accumulated amortization			Net carrying value

Customer list	$	42,500	$	(42,500	)	$	-
Technology		684,000		(669,300	)		14,700
Trade name		54,900		(54,900	)		-
	$	781,400	$	(766,700	)	$	14,700

		December 31, 2023
		Gross carrying amount		Accumulated amortization			Net carrying value

Customer list	$	42,500	$	(42,500	)	$	-
Technology		684,000		(666,100	)		17,900
Trade name		54,900		(54,900	)		-
	$	781,400	$	(763,500	)	$	17,900

The estimated useful lives of the intangible assets range from seven 7 to twenty years. Amortization expense, included in selling, general and administrative expenses in the accompanying consolidated statements of operations, was $3,200 and $2,700 for the years ended December 31, 2024, and 2023, respectively.

The Company performed an impairment analysis as of December 31, 2024 using the income approach. This analysis generally requires management to make significant estimates and assumptions related to forecasts of future revenues, operating margins, and discount rates.