| Intangible Assets |
7.
Intangible Assets
Intangible
assets, net was as follows:
Schedule of Intangible Assets
| September 30, 2023 |
|
Useful Lives (Years) |
|
|
Gross
Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net
Carrying Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(2,054,748 |
) |
|
$ |
76,208 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
803,472 |
|
|
|
(803,472 |
) |
|
|
- |
|
| Member Lists |
|
|
5 |
|
|
|
8,186,181 |
|
|
|
(8,111,181 |
) |
|
|
75,000 |
|
| Developed Technology |
|
|
3 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
442,500 |
|
|
|
(441,667 |
) |
|
|
833 |
|
| Contracts and events acquired in acquisitions |
|
|
3 -12 months |
|
|
|
1,377,083 |
|
|
|
(1,232,383 |
) |
|
|
144,700 |
|
| |
|
|
|
|
|
|
13,588,192 |
|
|
|
(13,291,451 |
) |
|
|
296,741 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
398,141 |
|
| December 31, 2022 |
|
Useful Lives (Years) |
|
|
Gross
Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net
Carrying 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 September 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 |
|
$ |
172,293 |
|
| 2024 |
|
|
91,114 |
|
| 2025 |
|
|
33,334 |
|
| Net Carrying Amount |
|
$ |
296,741 |
|
For
the three months ended September 30, 2023 and 2022, amortization expense related to intangible assets was approximately $128,000
and $225,000
and for the nine months ended September 30, 2023 and 2022 amortization expense was approximately $379,000
and $724,000,
and is recorded in depreciation and amortization expense in the accompanying consolidated statements of operations.
|