| Goodwill and Intangible Assets |
Note 5 - Goodwill and Intangible Assets
Goodwill and intangible assets consisted of the following:
| Schedule of goodwill and intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
June 30, 2025 |
| |
|
Estimated life in years |
|
Gross amount |
|
Accumulated Amortization |
|
Net |
| Intangible assets not subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Goodwill |
|
|
Indefinite |
|
|
$ |
4,238,671 |
|
|
$ |
— |
|
|
$ |
4,238,671 |
|
| Trademarks |
|
|
Indefinite |
|
|
|
514,268 |
|
|
|
— |
|
|
|
514,268 |
|
| Total intangible assets not subject to amortization |
|
|
|
|
|
|
4,752,939 |
|
|
|
— |
|
|
|
4,752,939 |
|
| Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer lists |
|
|
7 |
|
|
|
2,614,099 |
|
|
|
1,834,932 |
|
|
|
779,167 |
|
| ABC acquired contracts |
|
|
5 |
|
|
|
310,000 |
|
|
|
310,000 |
|
|
|
— |
|
| SIAS acquired contracts |
|
|
5 |
|
|
|
660,000 |
|
|
|
660,000 |
|
|
|
— |
|
| Non-compete agreements |
|
|
4 |
|
|
|
272,147 |
|
|
|
272,147 |
|
|
|
— |
|
| Website and digital assets |
|
|
3 |
|
|
|
33,002 |
|
|
|
33,002 |
|
|
|
— |
|
| Total intangible assets subject to amortization |
|
|
|
|
|
|
3,889,248 |
|
|
|
3,110,081 |
|
|
|
779,167 |
|
| Total Goodwill and Intangible Assets |
|
|
|
|
|
$ |
8,642,187 |
|
|
$ |
3,110,081 |
|
|
$ |
5,532,106 |
|
Scheduled amortization over the next four years are as follows:
| Schedule
of amortization over the next five years |
|
|
|
|
|
| For
the Years Ending December 31, |
|
|
| 2025
(remainder of the year) |
|
|
$ |
133,572 |
|
| 2026 |
|
|
$ |
267,143 |
|
| 2027 |
|
|
|
267,143 |
|
| 2028 |
|
|
|
111,309 |
|
| Total |
|
|
$ |
779,167 |
|
Amortization expense for the three months ended June 30, 2025, and 2024
was $66,785 and $68,360, respectively. Amortization expense for the six months ended June 30, 2025, and 2024 was $133,571 and $137,507,
respectively.
|