Amortizable Intangible Assets

9 Months Ended

Sep. 30, 2024

Amortizable Intangible Assets

Amortizable Intangible Assets

6. Amortizable Intangible Assets

Identified intangible assets of $210,280 consisted primarily of university partner relationships that were valued at $210,000, which arose in connection with the 2019 acquisition of Orbis Education Services LLC (“Orbis Education”).

Amortizable intangible assets consist of the following as of:

	September 30, 2024
	Estimated	Gross				Net
	Average Useful	Carrying		Accumulated		Carrying
	Life (in years)	Amount		Amortization		Amount
University partner relationships	25	$	210,000	$	(47,934)	$	162,066
Trade names	1		280		(280)		—
Total amortizable intangible assets, net		$	210,280	$	(48,214)	$	162,066

Amortization expense for university partner relationships and trade names for the years ending December 31:

2024	$	2,104
2025		8,419
2026		8,419
2027		8,419
2028		8,419
Thereafter		126,286
	$	162,066