|
NOTE
5 – INTANGIBLE ASSETS
SCHEDULE OF INTANGIBLE ASSETS
| |
|
June 30, 2025 (unaudited) |
|
| |
|
Gross carrying amount |
|
|
Accumulated amortization |
|
|
Net carrying value |
|
| |
|
|
|
|
|
|
|
|
|
| Customer list |
|
$ |
42,500 |
|
|
$ |
(42,500 |
) |
|
$ |
- |
|
| Technology |
|
|
684,000 |
|
|
|
(670,600 |
) |
|
|
13,400 |
|
| Trade name |
|
|
54,900 |
|
|
|
(54,900 |
) |
|
|
- |
|
| |
|
$ |
781,400 |
|
|
$ |
(768,000 |
) |
|
$ |
13,400 |
|
| |
|
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 |
|
| * |
|
These
numbers are derived from the audited financial statements for the year ended December 31,
2024. |
The
estimated useful lives of the intangible assets range from seven7 to twenty years. Amortization expense was $700 for both the six months
ended June 30, 2025, and 2024, respectively. Amortization expense was $1,300 and $1,600 for the six months ended June 30, 2025, and 2024,
respectively.
|