Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.2
Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets, net was as follows:

   

Useful

Lives

   

Gross

Carrying

    Accumulated     Net Carrying  
September 30, 2021   (Years)     Amount     Amortization     Amount  
Long-lived intangible assets:                                
Sales Process     10     $ 2,130,956     $ (1,902,334 )   $ 228,622  
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       (440,000 )     2,500  
Contracts purchased     Based on terms       935,683       -       935,683  
              13,046,792       (11,879,987 )     1,166,805  
Indefinite-lived intangible assets:                                
Trade name                             90,400  
Intangible assets, net                           $ 1,257,205  

 

   

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  
Schedule of Future Annual Estimated Amortization Expense

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

Year ended December 31,      
Remaining of 2021   $ 288,872  
2022     742,851  
2023     76,832  
2024     57,781  
2025     469  
Net Carrying Amount   $ 1,166,805