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Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2023

NOTE 7.

INTANGIBLE ASSETS

Intangible assets consist of the following:

	*December 31, 2023*							*December 31, 2022*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	72,028,493	$	(33,426,898	)	$	38,601,595	$	69,052,231	$	(28,141,423	)	$	40,910,808
Permits, licenses, and lease acquisition costs		11,793,354		(5,562,205	)		6,231,149		11,724,308		(4,479,482	)		7,244,826
Site location		849,347		(363,332	)		486,015		849,347		(306,708	)		542,639
Noncompetition agreements		626,000		(624,600	)		1,400		626,000		(578,500	)		47,500
Technology		1,128,000		(509,250	)		618,750		1,128,000		(410,250	)		717,750
Trade names and trademarks		11,152,200		(1,680,459	)		9,471,741		11,152,200		(1,089,892	)		10,062,308
Nonsolicitation agreement		103,000		(40,500	)		62,500		28,000		(28,000	)		-
Capitalized contract costs		2,974,125		(387,990	)		2,586,135		1,869,350		(151,034	)		1,718,316
Indefinite lived intangibles		7,473,016		-			7,473,016		7,097,895		-			7,097,895

Total	$	108,127,535	$	(42,595,234	)	$	65,532,301	$	103,527,331	$	(35,185,289	)	$	68,342,042

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

	*December 31,*
	*2024*		*2025*		*2026*		*2027*		*2028*		*Thereafter*		*Total*

Customer relationships	$	5,428,084	$	5,428,084	$	5,428,084	$	5,398,078	$	4,719,107	$	12,200,158	$	38,601,595
Permits, licenses and lease acquisition costs		1,086,916		1,073,908		1,047,418		1,014,030		751,545		1,257,332		6,231,149
Site location		56,623		56,623		56,623		56,623		56,623		202,900		486,015
Noncompetition agreements		1,400		-		-		-		-		-		1,400
Technology		99,000		99,000		99,000		99,000		99,000		123,750		618,750
Trade names and trademarks		590,567		590,567		590,567		525,667		525,667		6,648,706		9,471,741
Nonsolicitation agreement		25,000		25,000		12,500		-		-		-		62,500
Capitalized contract costs		297,413		297,413		297,413		297,413		297,413		1,099,070		2,586,135

Total	$	7,585,003	$	7,570,595	$	7,531,605	$	7,390,811	$	6,449,355	$	21,531,916	$	58,059,285

Amortization expense for the years ended December 31, 2023 and 2022 was $7,409,939 and $6,474,791, respectively.

Future Amortization

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

Customer relationships			85
Permits, licenses, and lease acquisition costs			69
Site location			103
Noncompetition agreements			7
Technology			75
Trade names and trademarks			192
Nonsolicitation agreement			30
Capitalized contract costs			104