| 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, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
78,000 |
|
|
|
2,000 |
|
| Customer relationships |
|
|
80,920 |
|
|
|
41,415 |
|
|
|
39,505 |
|
| Patents |
|
|
21,136 |
|
|
|
17,935 |
|
|
|
3,201 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
4,066 |
|
|
|
1,393 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
150,056 |
|
|
|
46,099 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
150,056 |
|
|
$ |
123,699 |
|
| |
|
Gross |
|
|
Less |
|
|
Net |
|
| |
|
Carrying |
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
75,000 |
|
|
|
5,000 |
|
| Customer relationships |
|
|
80,920 |
|
|
|
37,537 |
|
|
|
43,383 |
|
| Patents |
|
|
21,136 |
|
|
|
16,994 |
|
|
|
4,142 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
3,995 |
|
|
|
1,464 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
142,166 |
|
|
|
53,989 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
142,166 |
|
|
$ |
131,589 |
|
Amortization expense for intangible assets was $2,630 and $2,630 for the three months ended September 30, 2023 and 2022, respectively. Amortization expense for intangible assets was $7,890 and $7,890 for the nine months ended September 30, 2023 and 2022, respectively. Estimated amortization expense for the remainder of 2023 and each of the succeeding five years is as follows:
| 2023 |
|
$ |
2,630 |
|
| 2024 |
|
|
7,520 |
|
| 2025 |
|
|
6,075 |
|
| 2026 |
|
|
5,450 |
|
| 2027 |
|
|
5,450 |
|
| 2028 |
|
|
5,450 |
|
|