| Intangible Assets |
7.
Intangible Assets
Intangible
assets, net was as follows:
Schedule of Intangible Assets
| |
|
Useful Lives
|
|
|
Gross Carrying
|
|
|
Accumulated |
|
|
Net Carrying |
|
| June 30, 2022 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(1,959,489 |
) |
|
$ |
171,467 |
|
| 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 |
|
|
|
(440,625 |
) |
|
|
1,875 |
|
| Contracts acquired in RemoteMore acquisition |
|
|
3-12 months |
|
|
|
935,683 |
|
|
|
(730,354 |
) |
|
|
205,329 |
|
| |
|
|
|
|
|
|
13,046,792 |
|
|
|
(12,668,121 |
) |
|
|
378,671 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
469,071 |
|
| |
|
Useful Lives |
|
|
Gross
Carrying |
|
|
Accumulated |
|
|
Net Carrying |
|
| December 31, 2021 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(1,921,386 |
) |
|
$ |
209,570 |
|
| 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 |
|
|
|
(440,208 |
) |
|
|
2,292 |
|
| Contracts acquired in RemoteMore acquisition |
|
|
3-12 months |
|
|
|
935,683 |
|
|
|
(269,664 |
) |
|
|
666,019 |
|
| |
|
|
|
|
|
|
13,046,792 |
|
|
|
(12,168,911 |
) |
|
|
877,881 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
968,281 |
|
As
of June 30, 2022, estimated amortization expense in future fiscal years is summarized as follows:
Schedule of Future Annual Estimated Amortization Expense
| Year ended December 31, |
|
|
|
| Remaining of 2022 |
|
$ |
243,850 |
|
| 2023 |
|
|
77,041 |
|
| 2024 |
|
|
57,780 |
|
| 2025 |
|
|
- |
|
| Net Carrying Amount |
|
$ |
378,671 |
|
For
the three months ended June 30, 2022 and 2021, amortization expense was approximately $225,000 and $19,000 and for the six months ended
June 30, 2022 and 2021 amortization expense was approximately $500,000 and $38,000, and is recorded in depreciation and amortization
expense in the accompanying statements of operations.
|