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Note 7 - Intangible Assets

3 Months Ended

Mar. 31, 2021

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	*March 31, 2021*							*December 31, 2020*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	48,087,482	$	(21,353,075	)	$	26,734,407	$	46,740,483	$	(20,558,751	)	$	26,181,732
Permits, licenses, and lease acquisition costs		11,257,673		(2,665,384	)		8,592,289		11,053,673		(2,412,313	)		8,641,360
Site location		849,347		(207,426	)		641,921		849,347		(193,462	)		655,885
Noncompetition agreements		626,000		(414,405	)		211,595		626,000		(386,934	)		239,066
Trade names and trademarks		3,602,202		(421,107	)		3,181,095		3,602,202		(369,175	)		3,233,027
Technology		1,128,000		(236,661	)		891,339		1,128,000		(212,250	)		915,750
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Easements		4,507,089		-			4,507,089		4,507,089		-			4,507,089

Total	$	70,085,793	$	(25,326,058	)	$	44,759,735	$	68,534,794	$	(24,160,885	)	$	44,373,909

Future Amortization

The future amortization associated with the intangible assets is as follows:

	*March 31,*
	*2021*		*2022*		*2023*		*2024*		*2025*		*Thereafter*		*Total*

Customer relationships	$	3,267,666	$	3,267,666	$	3,267,666	$	3,267,666	$	3,267,666	$	10,396,077	$	26,734,407
Permits, licenses, and lease acquisition costs		1,033,348		1,033,348		1,033,348		1,033,348		1,013,202		3,445,695		8,592,289
Site location		56,623		56,623		56,623		56,623		56,623		358,806		641,921
Noncompetition agreements		97,450		83,462		29,843		840		-		-		211,595
Trade names and trademarks		208,900		208,900		208,900		208,900		208,900		2,136,595		3,181,095
Technology		99,000		99,000		99,000		99,000		99,000		396,339		891,339

Total	$	4,762,987	$	4,748,999	$	4,695,380	$	4,666,377	$	4,645,391	$	16,733,512	$	40,252,646

Amortization expense for the three months ended March 31, 2021 and 2020 was $1,165,172 and $951,821, respectively.

The weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships
98

Permits, licenses, and lease acquisition costs
100

Site location
136

Noncompetition agreements
23

Trade names and trademarks
183

Technology 108