Goodwill |
3 Months Ended |
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Mar. 31, 2025 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Goodwill | Goodwill The Company recognized goodwill as a result of the acquisition of SeaTrepid on March 20, 2025. The goodwill represents the excess of the purchase price over the fair value of net assets acquired and is attributable to expected synergies and the assembled workforce. The goodwill is not deductible for tax purposes.
As of March 31, 2025, goodwill totaled $10,652,388. The Company did not have any goodwill recorded on its balance sheet prior to this acquisition.
The Company evaluates goodwill for impairment annually as of December 31, or more frequently if events or changes in circumstances indicate the asset might be impaired. No indicators of impairment were identified during the first quarter of 2025.
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- References No definition available.
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- Definition The entire disclosure for goodwill. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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