Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.22.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets, net is as follows:

 

    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  

 

 

    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

Future annual estimated amortization expense is summarized as follows:

 

Year ended December 31,      
2022   $ 742,851  
2023     76,832  
2024     57,781  
2025 and thereafter     417  
Net Carrying Amount    $ 877,881