Note 6 - Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Intangible Assets and Goodwill

Information regarding our intangible assets is as follows:

	Useful Life (Years)		December 31, 2022			Additions			March 31, 2023
Intangible assets with estimated useful lives
Customer relationships		8.0		1,090,000			-			1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(308,217	)		(44,061	)		(352,278	)
Sub-total				901,783			(44,061	)		857,722
Intangible assets with indefinite lives
Trade names	Indefinite			280,000			-			280,000
Net identifiable intangible assets			$	1,181,783		$	(44,061	)	$	1,137,722

	Useful Life (Years)		December 31, 2021			Additions			March 31, 2022
Intangible assets with estimated useful lives
Customer relationships		8.0		1,090,000			-			1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(131,973	)		(44,061	)		(176,034	)
Sub-total				1,078,027			(44,061	)		1,033,966
Intangible assets with indefinite lives
Trade names	Indefinite			280,000			-			280,000
Net identifiable intangible assets			$	1,358,027		$	(44,061	)	$	1,313,966

As of March 31, 2023, expected amortization expense relating to purchased intangible assets for each of the next five years and thereafter is as follows:

Remainder of 2023	$	132,183
2024		146,307
2025		136,248
2026		136,248
2027		136,248
Thereafter		170,488
Total	$	857,722