| Intangible Assets Disclosure [Text Block] |
| 8. |
Other Intangible Assets |
The following is a summary of the Company’s other intangible assets:
| |
|
Gross |
|
|
Less |
|
|
Net |
|
| |
|
Carrying |
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
80,000 |
|
|
|
- |
|
| Customer relationships |
|
|
80,920 |
|
|
|
46,585 |
|
|
|
34,335 |
|
| Patents |
|
|
21,136 |
|
|
|
19,190 |
|
|
|
1,946 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
4,160 |
|
|
|
1,299 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
158,575 |
|
|
|
37,580 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
158,575 |
|
|
$ |
115,180 |
|
| |
|
Gross |
|
|
Less |
|
|
Net |
|
| |
|
Carrying |
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
79,000 |
|
|
|
1,000 |
|
| Customer relationships |
|
|
80,920 |
|
|
|
42,707 |
|
|
|
38,213 |
|
| Patents |
|
|
21,136 |
|
|
|
18,249 |
|
|
|
2,887 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
4,089 |
|
|
|
1,370 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
152,685 |
|
|
|
43,470 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
152,685 |
|
|
$ |
121,070 |
|
Amortization expense for intangible assets was $1,630 and $2,630 for the three months ended September 30, 2024 and 2023, respectively. Amortization expense for intangible assets was $5,890 and $7,890 for the nine months ended September 30, 2024 and 2023, respectively. Estimated amortization expense for the remainder of 2024 and each of the succeeding five years is as follows:
| 2024 |
|
$ |
1,630 |
|
| 2025 |
|
|
6,075 |
|
| 2026 |
|
|
5,450 |
|
| 2027 |
|
|
5,450 |
|
| 2028 |
|
|
5,450 |
|
| 2029 |
|
|
5,300 |
|
|