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Amortizable Intangible Assets

3 Months Ended

Mar. 31, 2024

Amortizable Intangible Assets

Amortizable Intangible Assets

6. Amortizable Intangible Assets

Identified intangible assets of $210,280 consisted primarily of university partner relationships that were valued at $210,000, which arose in connection with the 2019 acquisition of Orbis Education.

Amortizable intangible assets consist of the following as of:

​

​	​	​	​	​	​	​	​	​	​	​
​	March 31, 2024
​	Estimated	​	Gross		​	​	​	​	Net
​	Average Useful	​	Carrying		​	Accumulated		​	Carrying
​	Life (in years)	​	Amount		​	Amortization		​	Amount
University partner relationships	25		$	210,000		$	(43,724)		$	166,276
Trade names	1	​	​	280	​	​	(280)	​		—
Total amortizable intangible assets, net	​	​	$	210,280	​	$	(44,004)	​	$	166,276

​

Amortization expense for university partner relationships and trade names for the years ending December 31:

​	​	​	​
2024	​	$	6,314
2025	​		8,419
2026	​	​	8,419
2027	​	​	8,419
2028	​	​	8,419
Thereafter	​		126,286
​	​	$	166,276

​

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350-30/tableOfContent

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