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Note 7 - Intangible Assets

6 Months Ended

Jun. 30, 2021

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	*June 30, 2021*							*December 31, 2020*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	48,883,484	$	(22,180,979	)	$	26,702,505	$	46,740,483	$	(20,558,751	)	$	26,181,732
Permits, licenses, and lease acquisition costs		11,278,673		(2,923,192	)		8,355,481		11,053,673		(2,412,313	)		8,641,360
Site location		849,347		(221,541	)		627,806		849,347		(193,462	)		655,885
Noncompetition agreements		626,000		(439,638	)		186,362		626,000		(386,934	)		239,066
Technology		1,128,000		(261,343	)		866,657		1,128,000		(212,250	)		915,750
Trade names and trademarks		3,852,200		(476,904	)		3,375,296		3,602,202		(369,175	)		3,233,027
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Easements		4,507,089		-			4,507,089		4,507,089		-			4,507,089

Total	$	71,152,793	$	(26,531,597	)	$	44,621,196	$	68,534,794	$	(24,160,885	)	$	44,373,909

Future Amortization

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

	*June 30,*
	*2022*		*2023*		*2024*		*2025*		*2026*		*Thereafter*		*Total*

Customer relationships	$	3,323,266	$	3,323,266	$	3,323,266	$	3,323,266	$	3,323,266	$	10,086,175	$	26,702,505
Permits, licenses, and lease acquisition costs		1,035,448		1,035,448		1,035,448		1,035,448		1,005,737		3,207,952		8,355,481
Site location		56,623		56,623		56,623		56,623		56,623		344,691		627,806
Noncompetition agreements		96,200		76,482		13,339		341		-		-		186,362
Technology		99,000		99,000		99,000		99,000		99,000		371,657		866,657
Trade names and trademarks		225,567		225,567		225,567		225,567		225,567		2,247,461		3,375,296

Total	$	4,836,104	$	4,816,386	$	4,753,243	$	4,740,245	$	4,710,193	$	16,257,936	$	40,114,107

Amortization expense for the six months ended June 30, 2021 and 2020 was $2,370,709 and $1,980,836, respectively.

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

Customer relationships
96

Permits, licenses, and lease acquisition costs
97

Site location
133

Noncompetition agreements
23

Technology
105

Trade names and trademarks
180