| Intangible Assets |
7.
Intangible Assets
Intangible
assets, net was as follows:
Schedule
of Intangible Assets
| |
|
Useful Lives |
|
|
Gross
Carrying |
|
|
Accumulated |
|
|
Net Carrying |
|
| June 30, 2023 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(2,035,697 |
) |
|
$ |
95,259 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
803,472 |
|
|
|
(803,472 |
) |
|
|
- |
|
| Member Lists |
|
|
5 |
|
|
|
8,186,181 |
|
|
|
(8,102,848 |
) |
|
|
83,333 |
|
| Developed Technology |
|
|
3 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
442,500 |
|
|
|
(441,458 |
) |
|
|
1,042 |
|
| Contracts and events acquired in acquisitions |
|
|
3
- 12 months |
|
|
|
1,377,083 |
|
|
|
(1,131,583 |
) |
|
|
245,500 |
|
| |
|
|
|
|
|
|
13,588,192 |
|
|
|
(13,163,058 |
) |
|
|
425,134 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
515,534 |
|
| |
|
Useful Lives |
|
|
Gross
Carrying |
|
|
Accumulated |
|
|
Net Carrying |
|
| December 31, 2022 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(1,997,593 |
) |
|
$ |
133,363 |
|
| 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 |
|
|
|
442,500 |
|
|
|
(441,042 |
) |
|
|
1,458 |
|
| Contracts acquired in RemoteMore acquisition |
|
|
3
- 12 months |
|
|
|
935,683 |
|
|
|
(935,683 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
13,046,792 |
|
|
|
(12,911,971 |
) |
|
|
134,821 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
225,221 |
|
As
of June 30, 2023, estimated amortization expense in future fiscal years is summarized as follows:
Schedule of Future Annual Estimated
Amortization Expense
| |
|
|
|
| Year ended December 31, |
|
|
|
| Remaining of 2023 |
|
$ |
300,687 |
|
| 2024 |
|
|
91,114 |
|
| 2025 |
|
|
33,333 |
|
| Net Carrying Amount |
|
$ |
425,134 |
|
For
the three months ended June 30, 2023 and 2022, amortization expense was approximately $131,000 and $225,000 and for the six months ended
June 30, 2023 and 2022 amortization expense was approximately $251,000 and $500,000, and is recorded in depreciation and amortization
expense in the accompanying statements of operations.
|