v3.26.1
Note 7 - Intangible Assets
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

 

The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping.

 

In addition, the Company has various intangible assets from past business combinations.

 

 

At December 31, 2025, intangible assets consisted of the following:

 

   

Patents

   

Trade Name

   

Technology &

Software

   

Customer

Relationships

   

Total

 

Gross carrying amount

  $ 16,000     $ 780,931     $ 582,487     $ 4,597,547     $ 5,976,965  

Accumulated amortization

    (16,000 )     (780,931 )     (582,487 )     (2,838,941 )     (4,218,359 )
    $ -     $ -     $ -     $ 1,758,606     $ 1,758,606  

 

At December 31, 2024, intangible assets consisted of the following:

 

   

Patents

   

Trade Name

   

Technology &

Software

   

Customer

Relationships

   

Total

 

Gross carrying amount

  $ 16,000     $ 743,628     $ 558,664     $ 4,388,146     $ 5,706,438  

Accumulated amortization

    (16,000 )     (743,628 )     (558,664 )     (2,435,250 )     (3,753,542 )
    $ -     $ -     $ -     $ 1,952,896     $ 1,952,896  

 

Amortization expense of intangible assets for the years ended December 31, 2025 and 2024 was $286,785 and $292,528, respectively.

 

Amortization of intangible assets for the next five years ending December 31 are as follows:

 

Year Ended December 31,

       

2026

  $ 278,881  

2027

    278,881  

2028

    278,881  

2029

    278,881  

2030

    278,881  

Thereafter

    364,201  

Total amortization

  $ 1,758,606