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Note 7 - Intangible Assets

9 Months Ended

Sep. 30, 2021

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

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

Customer relationships	$	48,283,484	$	(22,943,605	)	$	25,339,879	$	46,740,483	$	(20,558,751	)	$	26,181,732
Permits, licenses, and lease acquisition costs		10,948,673		(3,159,510	)		7,789,163		11,053,673		(2,412,313	)		8,641,360
Site location		849,347		(235,813	)		613,534		849,347		(193,462	)		655,885
Noncompetition agreements		626,000		(463,884	)		162,116		626,000		(386,934	)		239,066
Technology		1,128,000		(286,296	)		841,704		1,128,000		(212,250	)		915,750
Trade names and trademarks		3,852,200		(533,739	)		3,318,461		3,602,202		(369,175	)		3,233,027
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Easements		4,611,089		-			4,611,089		4,507,089		-			4,507,089

Total	$	70,326,793	$	(27,650,847	)	$	42,675,946	$	68,534,794	$	(24,160,885	)	$	44,373,909

Future Amortization

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

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

Customer relationships	$	3,218,366	$	3,218,366	$	3,218,366	$	3,218,366	$	3,218,366	$	9,248,049	$	25,339,879
Permits, licenses, and lease acquisition costs		1,002,448		1,002,448		1,002,448		995,796		968,813		2,817,210		7,789,163
Site location		56,623		56,623		56,623		56,623		56,623		330,419		613,534
Noncompetition agreements		95,208		64,903		2,005		-		-		-		162,116
Technology		99,000		99,000		99,000		99,000		99,000		346,704		841,704
Trade names and trademarks		225,567		225,567		225,567		225,567		225,567		2,190,626		3,318,461

Total	$	4,697,212	$	4,666,907	$	4,604,009	$	4,595,352	$	4,568,369	$	14,933,008	$	38,064,857

Amortization expense for the nine months ended September 30, 2021 and 2020 was $3,508,445 and $3,012,641, respectively.

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

Customer relationships
94

Permits, licenses, and lease acquisition costs
93

Site location
130

Noncompetition agreements
20

Technology
102

Trade names and trademarks
177