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Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2022

NOTE 7.

INTANGIBLE ASSETS

Intangible assets consist of the following:

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

Customer relationships	$	69,052,231	$	(28,141,423	)	$	40,910,808	$	49,535,976	$	(23,611,856	)	$	25,924,120
Permits, licenses, and lease acquisition costs		11,724,308		(4,479,482	)		7,244,826		11,560,896		(3,413,876	)		8,147,020
Site location		849,347		(306,708	)		542,639		849,347		(250,085	)		599,262
Noncompetition agreements		626,000		(578,500	)		47,500		626,000		(488,134	)		137,866
Technology		1,128,000		(410,250	)		717,750		1,128,000		(311,250	)		816,750
Trade names and trademarks		11,152,200		(1,089,892	)		10,062,308		3,852,200		(590,575	)		3,261,625
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Capitalized contract costs		1,869,350		(151,034	)		1,718,316		1,018,600		(16,717	)		1,001,883
Indefinite lived intangibles		7,097,895		-			7,097,895		5,463,526		-			5,463,526

Total	$	103,527,331	$	(35,185,289	)	$	68,342,042	$	74,062,545	$	(28,710,493	)	$	45,352,052

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

	*December 31,*
	*2023*		*2024*		*2025*		*2026*		*2027*		*Thereafter*		*Total*

Customer relationships	$	5,222,724	$	5,222,724	$	5,222,724	$	5,222,724	$	5,192,720	$	14,827,192	$	40,910,808
Permits, licenses and lease acquisition costs		1,080,011		1,080,011		1,067,003		1,040,514		1,007,126		1,970,161		7,244,826
Site location		56,623		56,623		56,623		56,623		56,623		259,524		542,639
Noncompetition agreements		46,100		1,400		-		-		-		-		47,500
Technology		99,000		99,000		99,000		99,000		99,000		222,750		717,750
Trade names and trademarks		590,567		590,567		590,567		590,567		525,667		7,174,373		10,062,308
Capitalized contract costs		186,935		186,935		186,935		186,935		186,935		783,641		1,718,316

Total	$	7,281,960	$	7,237,260	$	7,222,852	$	7,196,363	$	7,068,071	$	25,237,641	$	61,244,147

Amortization expense for the years ended December 31, 2022 and 2021 was $6,474,791 and $4,549,608, respectively.

Future Amortization

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

Customer relationships			94
Permits, licenses, and lease acquisition costs			81
Site location			115
Noncompetition agreements			8
Technology			87
Trade names and trademarks			204
Capitalized contract costs			110