v3.26.1
INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
SUMMARY OF INTANGIBLE ASSETS

The following is a summary of intangible assets as of June 30, 2026:

  

  

Licensing Agreements

 (Finite)

  

Software

(Finite)

  

Trade Names

(Indefinite)

  

Accumulated

Amortization

   Total 
Balance as of January 1, 2026  $1,663,507   $7,449,032   $219,516   $(5,560,512)  $3,771,543 
Amortization expense   -    -    -    (399,271)   (399,271)
Additions   -    1,010,149    -    -    1,010,149 
Impairment (1)   -    -    (27,928)   -    (27,928)
Foreign currency translation adjustments   (48,451)   (187,542)   83    153,399    (82,511)
Balance as of June 30, 2026  $1,615,056   $8,271,639   $191,671   $(5,806,384)  $4,271,982 
                          
Weighted average remaining amortization period at June 30, 2026   14.7    3.4                

 

  (1) The impairment relates to a web domain no longer used.
SCHEDULE OF ACCUMULATED AMORTIZATION OF INTANGIBLE ASSETS

Accumulated amortization of intangible assets consists of the following:

 

  

Licensing

Agreements

(Finite)

  

Software

(Finite)

  

Accumulated

 Amortization

 
Balance as of January 1, 2026  $415,879   $5,144,633   $5,560,512 
Amortization expense   41,264    358,007    399,271 
Foreign currency translation adjustment   (11,129)   (142,270)   (153,399)
Balance as of June 30, 2026  $446,014   $5,360,370   $5,806,384 
SCHEDULE OF ESTIMATED AGGREGATE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS

Estimated aggregate amortization expense of intangible assets for the next five years and thereafter is as follows:

 

For the Years Ending December 31,  Total 
2026 (remaining period)  $408,659 
2027   938,525 
2028   927,404 
2029   512,319 
2030   388,074 
Thereafter   905,330 
Estimated aggregate amortization expense  $4,080,311