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Note 7 - Intangible Assets

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

		*March 31, 2024*												*December 31, 2023*
						*Accumulated*												*Accumulated*
		*Cost*				*Amortization*				*Balance*				*Cost*				*Amortization*				*Balance*

Customer relationships		$	72,028,493			$	(34,776,725	)		$	37,251,768			$	72,028,493			$	(33,426,898	)		$	38,601,595
Permits, licenses, and lease acquisition costs			11,813,725				(5,832,860	)			5,980,865				11,793,354				(5,562,205	)			6,231,149
Site location			849,347				(377,410	)			471,937				849,347				(363,332	)			486,015
Noncompetition agreements			626,000				(625,164	)			836				626,000				(624,600	)			1,400
Technology			1,128,000				(533,865	)			594,135				1,128,000				(509,250	)			618,750
Trade names and trademarks			11,152,200				(1,827,293	)			9,324,907				11,152,200				(1,680,459	)			9,471,741
Nonsolicitation agreement			103,000				(46,716	)			56,284				103,000				(40,500	)			62,500
Capitalized contract costs			2,976,676				(461,956	)			2,514,720				2,974,125				(387,990	)			2,586,135
Indefinite lived intangibles			7,473,016				-				7,473,016				7,473,016				-				7,473,016

Total		$	108,150,457			$	(44,481,989	)		$	63,668,468			$	108,127,535			$	(42,595,234	)		$	65,532,301

Future Amortization

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

		*March 31,*
		*2025*				*2026*				*2027*				*2028*				*2029*				*Thereafter*				*Total*

Customer relationships		$	5,428,084			$	5,428,084			$	5,424,808			$	5,391,062			$	4,238,151			$	11,341,579			$	37,251,768
Permits, licenses, and lease acquisition costs			1,088,953				1,068,732				1,042,142				1,010,192				570,265				1,200,581				5,980,865
Site location			56,623				56,623				56,623				56,623				56,623				188,822				471,937
Noncompetition agreements			836				-				-				-				-				-				836
Technology			99,000				99,000				99,000				99,000				99,000				99,135				594,135
Trade names and trademarks			590,567				590,567				574,431				525,667				525,667				6,518,008				9,324,907
Nonsolicitation agreement			25,000				25,000				6,284				-				-				-				56,284
Capitalized contract costs			297,668				297,668				297,668				297,668				297,668				1,026,380				2,514,720

Total		$	7,586,731			$	7,565,674			$	7,500,956			$	7,380,212			$	5,787,374			$	20,374,505			$	56,195,452

Amortization expense for the three months ended March 31, 2024 and 2023 was $1,886,754 and $1,802,027, respectively.

As of March 31, 2024, the weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships			82
Permits, licenses, and lease acquisition costs			66
Site location			100
Noncompetition agreements			5
Technology			72
Trade names and trademarks			189
Nonsolicitation agreement			27
Capitalized contract costs			101