Intangible Assets Disclosure [Text Block] |
7. Intangible Assets
Intangible assets, net is as follows:
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Gross |
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Net |
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Useful Lives |
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Carrying |
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Accumulated |
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Carrying |
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December 31, 2024 |
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(Years) |
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Amount |
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Amortization |
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Amount |
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Long-lived intangible assets: |
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Sales Process |
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10 |
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$ |
2,130,956 |
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$ |
(2,130,956 |
) |
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$ |
- |
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Paid Member Relationships |
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5 |
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803,472 |
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(803,472 |
) |
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- |
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Member Lists |
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5 |
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8,186,181 |
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(8,152,848 |
) |
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33,333 |
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Developed Technology |
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3 |
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648,000 |
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(648,000 |
) |
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- |
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Trade Name/Trademarks |
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4 |
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442,500 |
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(442,500 |
) |
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- |
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Contracts acquired in RemoteMore acquisition (months) |
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3 - 12 |
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1,377,083 |
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(1,377,083 |
) |
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- |
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13,588,192 |
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(13,554,859 |
) |
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33,333 |
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Indefinite-lived intangible assets: |
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Trade name |
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101,400 |
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Intangible assets, net |
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$ |
134,733 |
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Gross |
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Net |
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Useful Lives |
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|
Carrying |
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Accumulated |
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Carrying |
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December 31, 2023 |
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(Years) |
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Amount |
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Amortization |
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|
Amount |
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Long-lived intangible assets: |
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Sales Process |
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10 |
|
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$ |
2,130,956 |
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$ |
(2,073,800 |
) |
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$ |
57,156 |
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Paid Member Relationships |
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5 |
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803,472 |
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(803,472 |
) |
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- |
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Member Lists |
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5 |
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8,186,181 |
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(8,119,514 |
) |
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66,667 |
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Developed Technology |
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3 |
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648,000 |
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(648,000 |
) |
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- |
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Trade Name/Trademarks |
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4 |
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442,500 |
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(441,875 |
) |
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|
625 |
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Contracts acquired in RemoteMore acquisition (months) |
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3 - 12 |
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1,377,083 |
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(1,377,083 |
) |
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- |
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13,588,192 |
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(13,463,744 |
) |
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124,448 |
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Indefinite-lived intangible assets: |
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Trade name |
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101,400 |
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Intangible assets, net |
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$ |
225,848 |
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Future annual estimated amortization expense is summarized as follows:
Year ended December 31, |
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2025 |
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$ |
33,333 |
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Net Carrying Amount |
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$ |
33,333 |
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Amortization expense related to intangible assets of $91,114 and $551,774 for the years ended December 31, 2024, and 2023, respectively, is recorded in depreciation and amortization expense in the accompanying consolidated statements of operations.
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