Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets, net was as follows:

Schedule of Intangible Assets

	Useful Lives		Gross Carrying		Accumulated			Net Carrying
June 30, 2021	(Years)		Amount		Amortization			Amount
Long-lived intangible assets:
Sales Process		10	$	2,130,956	$	(1,883,282	)	$	247,674
Paid Member Relationships		5		803,472		(803,472	)		-
Member Lists		5		8,086,181		(8,086,181	)		-
Developed Technology		3		648,000		(648,000	)		-
Trade Name/Trademarks		4		440,000		(440,000	)		-
				12,108,609		(11,860,935	)		247,674
Indefinite-lived intangible assets:
Trade name									90,400
Intangible assets, net								$	338,074

	Useful Lives		Gross Carrying		Accumulated			Net Carrying
December 31, 2020	(Years)		Amount		Amortization			Amount
Long-lived intangible assets:
Sales Process		10	$	2,130,956	$	(1,845,178	)	$	285,778
Paid Member Relationships		5		803,472		(803,472	)		-
Member Lists		5		8,086,181		(8,086,181	)		-
Developed Technology		3		648,000		(648,000	)		-
Trade Name/Trademarks		4		440,000		(440,000	)		-
				12,108,609		(11,822,831	)		285,778
Indefinite-lived intangible assets:
Trade name									90,400
Intangible assets, net								$	376,178

As of June 30, 2021, estimated amortization expense in future fiscal years is summarized as follows:

Year ended December 31,
Remaining of 2021	$	38,104
2022		76,207
2023		76,207
2024		57,156
Net Carrying Amount	$	247,674

For the three months ended June 30, 2021 and 2020, amortization expense was approximately $19,000, and for the six months ended June 30, 2021 and 2020 amortization expense was approximately $38,000. Intangible amortization expense is recorded in depreciation and amortization expense in the accompanying statements of operations.