INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

The following table represents the balances of intangible assets as of March 31, 2023 and December 31, 2022:

	Estimated life	March 31, 2023		December 31, 2022
Website Domains	Indefinite	$	1,308,260	$	1,308,260
Website Domains	4 years		1,276,455		424,674
Customer relationships	4-6 years		1,646,692		1,638,502
Trademarks and Tradenames	10 years		478,299		476,010
Non-compete agreements	3 years		142,767		142,004
			4,852,473		3,989,450
Accumulated Amortization - Website domains			(86,015)		(23,834)
Accumulated Amortization - Customer Relationships			(163,927)		(78,514)
Accumulated Amortization - Trademarks / Tradenames			(23,499)		(11,484)
Accumulated Amortization - Non-Compete			(22,961)		(11,000)
Net Intangible		$	4,556,071	$	3,864,618

On January 6, 2021, the Company acquired an additional domain name and related intellectual property for a purchase price of $700,000, which was paid in cash through March 1, 2021 and recognized an as indefinite lived intangible asset. The Company also paid $42,000 as a finders fee. Management evaluated the transaction under ASC 805 and determined it was an asset acquisition, as substantially all of the fair value of assets acquired was concentrated in a group of similar assets, being the domain names and related intellectual property to operate those domains.

On August 25, 2021, the Company acquired an additional domain name and related intellectual property for a purchase price of $84,000, recognized an as indefinite lived intangible asset. Management evaluated the transaction under ASC 805 and determined it was an asset acquisition, as substantially all of the fair value of assets acquired was concentrated in a group of similar assets, being the domain names and related intellectual property to operate those domains.

On May 2, 2022 the Company sold one its domain sites and related intellectual property for a purchase price of $45,694, and recognized a loss of $34,306 on the disposal. The Company also paid $7,392 in fees related to the transaction.

On October 13, 2022, the Company closed on its acquisition of the SEO Butler Acquisition. As part of the acquisition, the Company acquired assets related to the websites operated by SEO Butler. Pursuant to the purchase price allocation as further described in Note 4, the Company allocated $512,000, which is to be amortized over the estimated life of the assets ranging from 3-10 years.

On October 14, 2022, the Company closed on its acquisition of the BCP Media Acquisition. As part of the acquisition, the Company acquired assets related to the Proofreading Business. Pursuant to the purchase price allocation as further described in Note 4, the Company allocated $1,443,000, which is to be amortized over the estimated life of the assets ranging from 3-10 years.

On October 25, 2022, the Company closed on its acquisition of the BWPS Acquisition. As part of the acquisition, the Company acquired assets related to Wordpress Plugins. Pursuant to the purchase price allocation as further described in Note 4, the Company allocated $692,000, which is to be amortized over the estimated life of the assets ranging from 3-10 years.

On February 1, 2023, the Company close on its acquisition of the Contentellect Business, and allocated the entire $85,000 purchase price to domain name assets with an estimated life of 4 years.

The following is an amortization analysis of the annual amortization of intangible assets on a fiscal year basis as of March 31, 2023:

For the year ended December 31,	Amount
2023 (9 months remaining)	$	609,565
2024		756,419
2025		742,728
2026		629,571
2027		186,562
Thereafter		332,966
Total remaining intangibles amortization		2,556,358