Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.21.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Intangible Assets

Intangible assets, net is as follows:

 

          Gross              
    Useful Lives     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  

 

          Gross              
    Useful Lives     Carrying     Accumulated     Net Carrying  
December 31, 2019   (Years)     Amount     Amortization     Amount  
Long-lived intangible assets:                                
Sales Process     10     $ 2,130,956     $ (1,768,971 )   $ 361,985  
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       (11,746,624 )     361,985  
Indefinite-lived intangible assets:                                
Trade name                             90,400  
Intangible assets, net                           $ 452,385  

Schedule of Future Annual Estimated Amortization Expense

Future annual estimated amortization expense is summarized as follows:

 

Year ended December 31,      
2021   $ 76,207  
2022     76,207  
2023     76,207  
2024 and thereafter     57,157  
    $ 285,778