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Intangibles Assets (Tables)
12 Months Ended
Dec. 31, 2022
Intangibles Assets  
Schedule of finite-lived intangible assets

 

 

DECEMBER 31, 2022

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Book

 

 

 

Amount

 

 

Amortization

 

 

Value

 

 

 

 

 

 

 

Customer Relationships

 

$2,392,000

 

 

$(299,000)

 

$2,093,000

 

Channel Relationships

 

 

2,628,080

 

 

 

(1,518,446)

 

 

1,109,634

 

Internally Developed Software

 

 

5,665,957

 

 

 

(2,546,407)

 

 

3,119,550

 

Trade Name and Trademarks

 

 

1,330,472

 

 

 

(254,496)

 

 

1,075,976

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$12,016,509

 

 

$(4,618,349)

 

$7,398,160

 

 

 

 

DECEMBER 31, 2021

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Book

 

 

 

Amount

 

 

Amortization

 

 

Value

 

 

 

 

 

 

 

Customer Relationships

 

$2,392,000

 

 

$(61,650)

 

$2,330,350

 

Channel Relationships

 

 

2,628,080

 

 

 

(1,343,241)

 

 

1,284,839

 

Internally Developed Software

 

 

3,082,705

 

 

 

(1,633,516)

 

 

1,449,189

 

Trade Name and Trademarks

 

 

1,330,472

 

 

 

(165,964)

 

 

1,164,508

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$9,433,257

 

 

$(3,204,371)

 

$6,228,886

 

Schedule of finite-lived intangible assets, future amortization expense

As of December 31, 2022, estimated annual amortization for our intangible assets for each of the next five years is approximately:

 

2023

 

$1,918,641

 

2024

 

 

1,704,101

 

2025

 

 

1,030,318

 

2026

 

 

511,170

 

2027

 

 

511,170

 

Thereafter

 

 

1,722,760

 

Total

 

$7,398,160