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Amortizable Intangible Assets | 9 Months Ended
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Sep. 30, 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 Services LLC (“Orbis Education”). Amortizable intangible assets consist of the following as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | September 30, 2024
​ | Estimated | ​ | Gross | ​ | ​ | ​ | ​ | Net
​ | Average Useful | ​ | Carrying | ​ | Accumulated | ​ | Carrying
​ | Life (in years) | ​ | Amount | ​ | Amortization | ​ | Amount
University partner relationships | 25 |  | $ | 210,000 |  | $ | (47,934) |  | $ | 162,066
Trade names | 1 | ​ | ​ | 280 | ​ | ​ | (280) | ​ |  | —
Total amortizable intangible assets, net | ​ | ​ | $ | 210,280 | ​ | $ | (48,214) | ​ | $ | 162,066
​ Amortization expense for university partner relationships and trade names for the years ending December 31: ​
​ | ​ | ​ | ​
2024 | ​ | $ | 2,104
2025 | ​ |  | 8,419
2026 | ​ | ​ | 8,419
2027 | ​ | ​ | 8,419
2028 | ​ | ​ | 8,419
Thereafter | ​ |  | 126,286
​ | ​ | $ | 162,066
​

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