Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 9 - Intangible Assets

Intangible assets, net, consists of the following:

		Gross				Net
		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount
March 31, 2022:
Crackle Plus content rights	$	1,708,270	$	1,637,092	$	71,178
Crackle Plus brand value		18,807,004		7,724,305		11,082,699
Crackle Plus partner agreements		4,005,714		2,303,286		1,702,428
Distribution network		3,600,000		1,000,000		2,600,000
Locomotive contractual rights		1,500,986		227,300		1,273,686
1091 intangible asset		4,919,525		—		4,919,525
Total	$	34,541,499	$	12,891,983	$	21,649,516
December 31, 2021:
Crackle Plus content rights	$	1,708,270	$	1,494,736	$	213,534.00
Crackle Plus brand value		18,807,004		7,052,626		11,754,378.00
Crackle Plus partner agreements		4,005,714		2,103,000		1,902,714.00
Distribution network		3,600,000		700,000		2,900,000.00
Locomotive contractual rights		1,356,868		92,403		1,264,465.00
Total	$	29,477,856	$	11,442,765	$	18,035,091

Amortization expense was $1,449,218 and $1,205,452 for the three months ended March 31, 2022 and 2021, respectively.

As of March 31, 2022 amortization expense for the next 5 years is expected be:

Remainder of 2022	$	5,192,199
2023		6,828,028
2024		5,525,096
2025		3,096,675
2026		1,007,518
Total	$	21,649,516

Total goodwill on our Condensed Consolidated Balance Sheets was $44,906,055 and $39,986,530 as of March 31, 2022 and December 31, 2021, respectively, and is comprised of the following:

	March 31, 2022
	Online Networks		Distribution & Production		SVOD
Beginning balance	$	18,911,027	$	21,075,503	$	—
Acquisitions		—		4,919,525		—
Total	$	18,911,027	$	25,995,028	$	—
	December 31, 2021
	Online Networks		Distribution & Production		SVOD
Beginning balance	$	18,911,027	$	1,236,760	$	1,300,319
Acquisitions		—		19,838,743		—
Accumulated impairment losses		—		—		(1,300,319)
Total	$	18,911,027	$	21,075,503	$	—

There was no impairment recorded related to goodwill and intangible assets in the three months ended March 31, 2022 and 2021, respectively.