Note 3 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 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 June 30, 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, June 30		$	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 six months ended June 30, 2026 and 2025.

The components of purchased intangible assets were as follows:

		Weighted Average
		Remaining
		Amortization				June 30, 2026
		Period				Gross				Accumulated								Net
		(in years)				Carrying Amount				Amortization				Disposals Net				Amount
Franchise agreement			8			$	4,519,550			$	1,062,328			$	978,365			$	2,478,857
Agent relationships			7				916,282				234,475				240,335				441,472
Real estate listings			-				564,756				564,756				—				—
Non-compete agreements			2				188,044				110,935				27,463				49,646
Total						$	6,188,632			$	1,972,494			$	1,246,163			$	2,969,975

	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 and six months ended June 30, 2026 amortization expense was $104 thousand and $209 thousand, respectively. For the three months and six months ended June 30, 2025 amortization expense was $187 thousand and $416 thousand, respectively. The remaining estimated amortization expense is expected to be as follows:

	*June 30, 2026*
2026-remainder of the year	$	208,903
2027		414,440
2028		386,167
2029		383,945
2030		383,945
Thereafter		1,192,575
Total	$	2,969,975