| Intangible Assets |
7.
Intangible Assets
Intangible
assets, net was as follows:
Schedule
of Intangible Assets
| |
|
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 |
|
As
of September 30, 2021, estimated amortization expense in future fiscal years is summarized as follows:
Schedule
of Future Annual Estimated Amortization Expense
| 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 |
|
For
the three months ended September 30, 2021 and 2020, amortization expense was approximately $19,000, and for the nine months ended September
30, 2021 and 2020 amortization expense was approximately $57,000. Intangible amortization expense is recorded in depreciation and amortization
expense in the accompanying statements of operations.
|