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Note 7 - Intangible Assets

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

		*June 30, 2024*												*December 31, 2023*
						*Accumulated*												*Accumulated*
		*Cost*				*Amortization*				*Balance*				*Cost*				*Amortization*				*Balance*

Customer relationships		$	72,028,493			$	(36,126,111	)		$	35,902,382			$	72,028,493			$	(33,426,898	)		$	38,601,595
Permits, licenses, and lease acquisition costs			11,872,415				(6,105,263	)			5,767,152				11,793,354				(5,562,205	)			6,231,149
Site location			849,347				(391,488	)			457,859				849,347				(363,332	)			486,015
Noncompetition agreements			626,000				(625,661	)			339				626,000				(624,600	)			1,400
Technology			1,128,000				(558,480	)			569,520				1,128,000				(509,250	)			618,750
Trade names and trademarks			11,152,200				(1,974,128	)			9,178,072				11,152,200				(1,680,459	)			9,471,741
Nonsolicitation agreement			353,000				(77,780	)			275,220				103,000				(40,500	)			62,500
Capitalized contract costs			3,047,854				(507,155	)			2,540,699				2,974,125				(387,990	)			2,586,135
Indefinite lived intangibles			7,633,591				-				7,633,591				7,473,016				-				7,473,016

Total		$	108,690,900			$	(46,366,066	)		$	62,324,834			$	108,127,535			$	(42,595,234	)		$	65,532,301

Future Amortization

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

		*June 30,*
		*2025*				*2026*				*2027*				*2028*				*2029*				*Thereafter*				*Total*

Customer relationships		$	5,428,084			$	5,428,084			$	5,418,881			$	5,386,697			$	3,755,043			$	10,485,593			$	35,902,382
Permits, licenses, and lease acquisition costs			1,094,043				1,065,828				1,040,423				1,012,569				392,776				1,161,513				5,767,152
Site location			56,623				56,623				56,623				56,623				56,623				174,744				457,859
Noncompetition agreements			339				-				-				-				-				-				339
Technology			99,000				99,000				99,000				99,000				99,000				74,520				569,520
Trade names and trademarks			590,567				590,567				558,295				525,667				525,667				6,387,309				9,178,072
Nonsolicitation agreement			191,667				83,485				68				-				-				-				275,220
Capitalized contract costs			304,785				304,785				304,785				304,785				304,785				1,016,774				2,540,699

Total		$	7,765,108			$	7,628,372			$	7,478,075			$	7,385,341			$	5,133,894			$	19,300,453			$	54,691,243

Amortization expense for the six months ended June 30, 2024 and 2023 was $3,770,828 and $3,632,910, respectively.

As of June 30, 2024, the weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships			79
Permits, licenses, and lease acquisition costs			63
Site location			97
Noncompetition agreements			16
Technology			69
Trade names and trademarks			186
Nonsolicitation agreement			24
Capitalized contract costs			100