Intangible Assets, Net, Continuing Operations

12 Months Ended

Dec. 31, 2024

Intangible Assets, Net, Continuing Operations [Abstract]

Intangible Assets, Net, Continuing Operations

4. Intangible Assets, Net, Continuing Operations

Intangible assets, net consisted of the following for the periods presented:

	December 31,
	2024							2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	50,000	$	(38,750	)	$	11,250	$	50,000	$	(36,250	)	$	13,750
Trade names, trademarks, product names, URLs		1,022,425		(726,028	)		296,397		1,022,425		(644,390	)		378,035
Internally developed software		4,180,005		(2,791,266	)		1,388,739		4,180,005		(2,478,408	)		1,701,597
Subscriber/customer relationships		3,553,102		(3,366,707	)		186,395		3,553,102		(2,942,007	)		611,095
Total intangible assets	$	8,805,532	$	(6,922,751	)	$	1,882,781	$	8,805,532	$	(6,101,055	)	$	2,704,477

During the year ended December 31, 2023, in connection with the previously acquired ManyCam assets and pursuant to the securities purchase agreement related to such asset acquisition, the Company made an earn-out payment of $85,000 because the sales of the ManyCam software, less chargebacks and refunds, in the six-month period following the closing of the acquisition exceeded $600,000 but were less than $700,000. No intangible assets were sold in the Divestiture.

Amortization expense for the years ended December 31, 2024 and 2023 was $821,696 and $822,334, respectively. The aggregate amortization expense for each of the next five years and thereafter is estimated to be $568,529 in 2025, $382,133 in 2026, $382,133 in 2027, $382,133 in 2028, and $167,853 thereafter.

INTELLIGENT PROTECTION MANAGEMENT CORP. 10-K