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Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2021

NOTE 7.

INTANGIBLE ASSETS

Intangible assets consist of the following:

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

Customer relationships	$	49,535,976	$	(23,611,856	)	$	25,924,120	$	46,740,483	$	(20,558,751	)	$	26,181,732
Permits, licenses, and lease acquisition costs		11,560,896		(3,413,876	)		8,147,020		11,053,673		(2,412,313	)		8,641,360
Site location		849,347		(250,085	)		599,262		849,347		(193,462	)		655,885
Noncompetition agreements		626,000		(488,134	)		137,866		626,000		(386,934	)		239,066
Technology		1,128,000		(311,250	)		816,750		1,128,000		(212,250	)		915,750
Trade names and trademarks		3,852,200		(590,575	)		3,261,625		3,602,202		(369,175	)		3,233,027
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Capitalized contract costs		1,018,600		(16,717	)		1,001,883		-		-			-
Easements		5,463,526		-			5,463,526		4,507,089		-			4,507,089

Total	$	74,062,545	$	(28,710,493	)	$	45,352,052	$	68,534,794	$	(24,160,885	)	$	44,373,909

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

	*December 31,*
	*2022*		*2023*		*2024*		*2025*		*2026*		*Thereafter*		*Total*

Customer relationships	$	3,245,199	$	3,245,199	$	3,245,199	$	3,245,199	$	3,245,199	$	9,698,125	$	25,924,120
Permits, licenses and lease acquisition costs		1,063,670		1,063,670		1,063,670		1,050,662		1,024,172		2,881,176		8,147,020
Site location		56,623		56,623		56,623		56,623		56,623		316,147		599,262
Noncompetition agreements		90,366		46,100		1,400		-		-		-		137,866
Technology		99,000		99,000		99,000		99,000		99,000		321,750		816,750
Trade names and trademarks		225,567		225,567		225,567		225,567		225,567		2,133,790		3,261,625
Capitalized contract costs		101,860		101,860		101,860		101,860		101,860		492,583		1,001,883

Total	$	4,882,285	$	4,838,019	$	4,793,319	$	4,778,911	$	4,752,421	$	15,843,571	$	39,888,526

Amortization expense for the years ended December 31, 2021 and 2020 was $4,549,608 and $3,987,003, respectively.

Future Amortization

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

Customer relationships			96
Permits, licenses, and lease acquisition costs			92
Site location			127
Noncompetition agreements			17
Technology			99
Trade names and trademarks			174
Capitalized contract costs			118