v3.25.3
INTANGIBLE ASSETS, NET
9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 9 — INTANGIBLE ASSETS, NET

As of September 30, 2025 and December 31, 2024, intangible assets, net consist of the following:

 

 

 

September 30,
2025

 

 

December 31,
2024

 

Patent use right

 

$

17,558,432

 

 

$

16,582,795

 

Trademarks

 

 

1,306,923

 

 

 

1,237,820

 

Customer relationships

 

 

203,681

 

 

 

192,911

 

Service agreement

 

 

22,000,646

 

 

 

—

 

Others

 

 

109,402

 

 

 

159,321

 

Subtotal

 

 

41,179,084

 

 

 

18,172,847

 

Less: accumulated amortization

 

 

(2,512,660

)

 

 

(2,072,849

)

Less: accumulated impairment

 

 

(15,363,628

)

 

 

(14,509,946

)

Intangible assets, net

 

$

23,302,796

 

 

$

1,590,052

 

 

Amortization expense was $261,785 and $272,557 for the three months ended September 30, 2025 and 2024, respectively, and $316,230 and $806,440 for the nine months ended September 30, 2025 and 2024, respectively.

Estimated future amortization expense related to intangible assets as of September 30, 2025 is as follows:

 

Years ending December 31,

 

Amortization
Expense

 

Remaining of 2025

 

$

261,939

 

2026

 

 

1,047,753

 

2027

 

 

1,047,753

 

2028

 

 

967,377

 

2029

 

 

946,360

 

Thereafter

 

 

19,031,614

 

Total

 

$

23,302,796