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Note 7 - Intangible Assets

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

		*March 31, 2025*												*December 31, 2024*
						*Accumulated*												*Accumulated*
		*Cost*				*Amortization*				*Balance*				*Cost*				*Amortization*				*Balance*

Customer relationships		$	72,028,493			$	(40,193,419	)		$	31,835,074			$	72,028,493			$	(38,854,986	)		$	33,173,507
Permits, licenses, and lease acquisition costs			11,966,205				(6,928,712	)			5,037,493				11,926,773				(6,656,353	)			5,270,420
Site location			849,347				(433,917	)			415,430				849,347				(419,955	)			429,392
Noncompetition agreements			626,000				(626,000	)			-				626,000				(626,000	)			-
Technology			1,128,000				(632,661	)			495,339				1,128,000				(608,250	)			519,750
Trade names and trademarks			11,152,200				(2,416,645	)			8,735,555				11,152,200				(2,271,025	)			8,881,175
Nonsolicitation agreement			353,000				(223,893	)			129,107				353,000				(176,611	)			176,389
Capitalized contract costs			2,800,576				(693,240	)			2,107,336				2,800,576				(624,175	)			2,176,401
Indefinite lived intangibles			7,705,591				-				7,705,591				7,705,591				-				7,705,591

Total		$	108,609,412			$	(52,148,487	)		$	56,460,925			$	108,569,980			$	(50,237,355	)		$	58,332,625

Future Amortization

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

		*March 31,*
		*2026*				*2027*				*2028*				*2029*				*2030*				*Thereafter*				*Total*

Customer relationships		$	5,428,084			$	5,429,140			$	5,386,814			$	4,242,151			$	3,299,891			$	8,048,994			$	31,835,074
Permits, licenses, and lease acquisition costs			1,083,821				1,057,252				1,025,288				586,847				240,102				1,044,183				5,037,493
Site location			56,623				56,623				56,623				56,623				56,623				132,315				415,430
Noncompetition agreements			-				-				-				-				-				-				-
Technology			99,000				99,000				99,000				99,000				99,000				339				495,339
Trade names and trademarks			590,567				574,564				525,667				525,667				525,667				5,993,423				8,735,555
Nonsolicitation agreement			122,771				6,336				-				-				-				-				129,107
Capitalized contract costs			280,057				280,057				280,057				280,057				280,057				707,051				2,107,336

Total		$	7,660,923			$	7,502,972			$	7,373,449			$	5,790,345			$	4,501,340			$	15,926,305			$	48,755,334

Amortization expense for the three months ended March 31, 2025 and 2024 was $1,911,130 and $1,886,754 respectively.

As of March 31, 2025, the weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships			70
Permits, licenses, and lease acquisition costs			55
Site location			88
Technology			60
Trade names and trademarks			177
Nonsolicitation agreement			8
Capitalized contract costs			90