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Note 7 - Intangible Assets

6 Months Ended

Jun. 30, 2022

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	*June 30, 2022*							*December 31, 2021*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	66,520,977	$	(25,621,813	)	$	40,899,164	$	49,535,976	$	(23,611,856	)	$	25,924,120
Permits, licenses, and lease acquisition costs		12,457,057		(3,941,444	)		8,515,613		11,560,896		(3,413,876	)		8,147,020
Site location		849,347		(278,164	)		571,183		849,347		(250,085	)		599,262
Noncompetition agreements		626,000		(535,861	)		90,139		626,000		(488,134	)		137,866
Technology		1,128,000		(360,343	)		767,657		1,128,000		(311,250	)		816,750
Trade names and trademarks		11,152,200		(793,019	)		10,359,181		3,852,200		(590,575	)		3,261,625
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Capitalized contract costs		1,146,600		(68,823	)		1,077,777		1,018,600		(16,717	)		1,001,883
Easements		5,637,986		-			5,637,986		5,463,526		-			5,463,526

Total	$	99,546,167	$	(31,627,467	)	$	67,918,700	$	74,062,545	$	(28,710,493	)	$	45,352,052

Future Amortization

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

	*June 30,*
	*2023*		*2024*		*2025*		*2026*		*2027*		*Thereafter*		*Total*

Customer relationships	$	4,969,599	$	4,969,599	$	4,969,599	$	4,969,599	$	4,960,450	$	16,060,318	$	40,899,164
Permits, licenses, and lease acquisition costs		1,153,286		1,153,286		1,152,535		1,124,324		1,098,936		2,833,246		8,515,613
Site location		56,623		56,623		56,623		56,623		56,623		288,068		571,183
Noncompetition agreements		76,459		13,339		341		-		-		-		90,139
Technology		99,000		99,000		99,000		99,000		99,000		272,657		767,657
Trade names and trademarks		590,567		590,567		590,567		590,567		558,383		7,438,530		10,359,181
Capitalized contract costs		114,660		114,660		114,660		114,660		114,660		504,477		1,077,777

Total	$	7,060,194	$	6,997,074	$	6,983,325	$	6,954,773	$	6,888,052	$	27,397,296	$	62,280,714

Amortization expense for the six months ended June 30, 2022 and 2021 was $2,916,966 and $2,370,709, respectively.

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

Customer relationships
99

Permits, licenses, and lease acquisition costs
89

Site location
121

Noncompetition agreements
12

Technology
93

Trade names and trademarks
210

Capitalized contract costs
113