Note 3 - Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

Note 3 — Goodwill and Intangible Assets

Goodwill

The gross carrying amount of goodwill as of March 31, 2026 and December 31, 2025 was $528,545 and $1,831,197, respectively.

		*2026*				*2025*
Balance, January 1		$	1,831,197			$	8,012,331
Disposal of interest in LR Kissimmee			(1,302,652	)			-
Impairment			-				(6,181,134	)
Goodwill, March 31		$	528,545			$	1,831,197

Intangible Assets

Intangible assets consist of franchise agreements, agent relationships, real estate listings, and non-compete agreements, and are initially recorded at fair value. Long-lived intangible assets are amortized over their estimated useful lives in a method reflecting the pattern in which the economic benefits are consumed or amortized on a straight-line basis if such pattern cannot be reliably determined. The Company continues to assess potential triggering events related to the value of its intangible assets and concluded that there was no impairment during the three months ended March 31, 2026 and 2025.

The components of purchased intangible assets were as follows:

	Weighted Average
	Remaining
	Amortization		March 31, 2026
	Period		Gross				Accumulated								Net
	(in years)		Carrying Amount				Amortization				Disposals Net				Amount
Franchise agreement	8		$	4,519,550			$	983,173			$	978,366			$	2,558,011
Agent relationships	7			916,282				217,643				240,335				458,304
Real estate listings	-			564,756				564,756				—				—
Non-compete agreements	2			188,044				102,469				27,463				58,112
Total			$	6,188,632			$	1,868,041			$	1,246,164			$	3,074,427

	Weighted Average
	Remaining
	Amortization		December 31, 2025
	Period		Gross				Accumulated								Net
	(in years)		Carrying Amount				Amortization				Impairment				Amount
Franchise agreement	8		$	5,249,482			$	904,018			$	729,932			$	3,615,532
Agent relationships	7			916,282				200,812				—				715,470
Real estate listings	-			564,756				564,756				—				—
Non-compete agreements	2			188,748				94,004				704				94,040
Total			$	6,919,268			$	1,763,590			$	730,636			$	4,425,042

For the three months ended March 31, 2026, and 2025 amortization expense was $105 thousand and $229 thousand respectively. The remaining estimated amortization expense is expected to be as follows:

		*March 31, 2026*
2026-remainder of the year		$	313,355
2027			414,440
2028			386,167
2029			383,945
2030			383,945
Thereafter			1,192,575
Total		$	3,074,427