v3.22.2.2
GOODWILL AND OTHER INTANGIBLE ASSETS
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 10. GOODWILL AND OTHER INTANGIBLE ASSETS

 

Intangible assets consisted of the following at September 30, 2022 and December 31, 2021:

 

   September 30, 2022   December 31, 2021 
   Gross
value		   Accumulated
amortization		  

Net

carrying

value

   Gross
value		   Accumulated
amortization		   Net
carrying
value		 
Amortized intangible assets:                              
Licenses (video solutions segment)  $198,651   $76,570   $122,081   $194,286   $65,578   $128,708 
Patents and trademarks (video solutions segment)   472,078    268,008    204,070    493,945    233,471    260,474 
Sponsorship agreement network (ticketing segment)   5,600,000    1,213,333    4,386,667    5,600,000    373,333    5,226,667 
SEO content (ticketing segment)   600,000    162,500    437,500    600,000    50,000    550,000 
Personal seat licenses (ticketing
segment)		   180,081    6,501    173,580    201,931    2,244    199,687 
Client agreements (revenue cycle management segments)   999,034    101,888    897,146    —    —    — 
                               
    8,049,844    1,828,800    6,221,044    7,090,162    724,626    6,365,536 
                               
Indefinite life intangible assets:                              
Goodwill (ticketing and revenue cycle management segments)   11,367,514    —    11,367,514    9,931,547    —    9,931,547 
Trade name (ticketing segment)   600,000    —    600,000    600,000    —    600,000 
Patents and trademarks pending
(video solutions segment)		   41,980    —    41,980    5,430    —    5,430 
                               
Total  $20,059,338   $1,828,870   $18,230,538   $17,627,139   $724,626   $16,902,513 

 

 

Patents and trademarks pending will be amortized beginning at the time they are issued by the appropriate authorities. If issuance of the final patent or trademark is denied, then the amount deferred will be immediately charged to expense.

 

Amortization expense for the three months ended September 30, 2022 and 2021 was $460,489 and $40,211, respectively, and $1,177,759 and $100,069, for the nine months ended September 30, 2022 and 2021, respectively. Estimated amortization for intangible assets with definite lives for the next five years ending December 31 and thereafter is as follows:

  

Year ending December 31:    
2022 (October 1, to December 31, 2022)  $385,204 
2023   1,485,846 
2024   1,435,289 
2025   1,342,778 
2026 and thereafter   1,571,927 
Total  $6,221,044