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Note 7 - Intangible Assets

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

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

Customer relationships		$	72,028,492			$	(37,490,771	)		$	34,537,721			$	72,028,493			$	(33,426,898	)		$	38,601,595
Permits, licenses, and lease acquisition costs			11,900,414				(6,380,196	)			5,520,218				11,793,354				(5,562,205	)			6,231,149
Site location			849,347				(405,722	)			443,625				849,347				(363,332	)			486,015
Noncompetition agreements			626,000				(626,000	)			-				626,000				(624,600	)			1,400
Technology			1,128,000				(583,365	)			544,635				1,128,000				(509,250	)			618,750
Trade names and trademarks			11,152,200				(2,122,576	)			9,029,624				11,152,200				(1,680,459	)			9,471,741
Nonsolicitation agreement			353,000				(127,196	)			225,804				103,000				(40,500	)			62,500
Capitalized contract costs			2,820,551				(554,339	)			2,266,212				2,974,125				(387,990	)			2,586,135
Indefinite lived intangibles			7,645,591				-				7,645,591				7,473,016				-				7,473,016

Total		$	108,503,595			$	(48,290,165	)		$	60,213,430			$	108,127,535			$	(42,595,234	)		$	65,532,301

Future Amortization

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

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

Customer relationships		$	5,428,084			$	5,428,084			$	5,408,482			$	5,203,270			$	3,431,365			$	9,638,436			$	34,537,721
Permits, licenses, and lease acquisition costs			1,090,953				1,063,976				1,033,174				947,307				272,543				1,112,265				5,520,218
Site location			56,623				56,623				56,623				56,623				56,623				160,510				443,625
Noncompetition agreements			-				-				-				-				-				-				-
Technology			99,000				99,000				99,000				99,000				99,000				49,635				544,635
Trade names and trademarks			590,567				590,567				541,980				525,667				525,667				6,255,176				9,029,624
Nonsolicitation agreement			191,667				34,137				-				-				-				-				225,804
Capitalized contract costs			282,055				282,055				282,055				282,055				282,055				855,937				2,266,212

Total		$	7,738,949			$	7,554,442			$	7,421,314			$	7,113,922			$	4,667,253			$	18,071,959			$	52,567,839

Amortization expense for the nine months ended September 30, 2024 and 2023 was $5,746,002 and $5,510,794, respectively.

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

Customer relationships			76
Permits, licenses, and lease acquisition costs			61
Site location			94
Noncompetition agreements			13
Technology			66
Trade names and trademarks			183
Nonsolicitation agreement			21
Capitalized contract costs			96