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Balance Sheet Components | 3 Months Ended
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Mar. 31, 2021
Balance Sheet Components |
Balance Sheet Components |
| 3. | Balance Sheet Components
The components of certain balance sheet amounts are as follows: Accounts Receivable – Accounts receivable are presented net of allowance for doubtful accounts. The allowance for doubtful accounts as of March 31, 2021 and December 31, 2020 was $718,912 and $892,352, respectively. Subscription Acquisition Costs – Subscription acquisition costs include the incremental costs of obtaining a contract with a customer, paid to external parties, if it expects to recover those costs. The current portion of the subscription acquisition costs as of March 31, 2021 and December 31, 2020 was $31,171,595 and $28,146,895, respectively. The noncurrent portion of the subscription acquisition costs as of March 31, 2021 and December 31, 2020 was $18,682,545 and $13,358,585, respectively. Certain contract amendments resulted in a modification to the subscription acquisition costs that will be recognized on a prospective basis in the same proportion as the revenue that has not yet been recognized (further details are provided under the heading Contract Balances in Note 11). Property and Equipment – Property and equipment are summarized as follows:
|  | As of |
|  | March 31, 2021 |  |  | December 31, 2020 |
Office equipment and computers |  | $ | 1,439,071 |  |  | $ | 1,341,292 |
Furniture and fixtures |  |  | 19,997 |  |  |  | 19,997 |
Leasehold improvements |  |  | 345,516 |  |  |  | 345,516 |
|  |  | 1,804,584 |  |  |  | 1,706,805 |
Less accumulated depreciation and amortization |  |  | (687,181 | ) |  |  | (577,367 | )
Net property and equipment |  | $ | 1,117,403 |  |  | $ | 1,129,438 |
Depreciation and amortization expense for the three months ended March 31, 2021 and 2020 was $109,814 and $638,796, respectively. Depreciation and amortization expense is included in selling and marketing expenses and general and administrative expenses, as appropriate, on the consolidated statements of operations. Platform Development – Platform development costs are summarized as follows:
|  | As of |
|  | March 31, 2021 |  |  | December 31, 2020 |
Platform development |  | $ | 17,204,336 |  |  | $ | 16,027,428 |
Less accumulated amortization |  |  | (9,740,665 | ) |  |  | (8,671,820 | )
Net platform development |  | $ | 7,463,671 |  |  | $ | 7,355,608 |
A summary of platform development activity for the three months ended March 31, 2021 and year ended December 31, 2020 is as follows:
|  | As of |
|  | March 31, 2021 |  |  | December 31, 2020 |
Platform development beginning of period |  | $ | 16,027,428 |  |  | $ | 10,678,692 |
Payroll-based costs capitalized during the period |  |  | 867,713 |  |  |  | 3,750,541 |
Total capitalized costs |  |  | 16,895,141 |  |  |  | 14,429,233 |
Stock-based compensation |  |  | 309,195 |  |  |  | 1,608,995 |
Dispositions |  |  | - |  |  |  | (10,800 | )
Platform development end of period |  | $ | 17,204,336 |  |  | $ | 16,027,428 |
Amortization expense for the three months ended March 31, 2021 and 2020, was $1,068,845 and $920,824, respectively. Intangible Assets – Intangible assets subject to amortization consisted of the following:
|  | As of March 31, 2021 |  |  | As of December 31, 2020 |
|  | Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Developed technology |  | $ | 19,070,857 |  |  | $ | (9,381,310 | ) |  | $ | 9,689,547 |  |  | $ | 19,070,857 |  |  | $ | (8,283,740 | ) |  | $ | 10,787,117 |
Noncompete agreement |  |  | 480,000 |  |  |  | (480,000 | ) |  |  | - |  |  |  | 480,000 |  |  |  | (480,000 | ) |  |  | - |
Trade name |  |  | 3,328,000 |  |  |  | (572,992 | ) |  |  | 2,755,008 |  |  |  | 3,328,000 |  |  |  | (503,342 | ) |  |  | 2,824,658 |
Subscriber relationships |  |  | 73,458,799 |  |  |  | (21,734,342 | ) |  |  | 51,724,457 |  |  |  | 73,458,799 |  |  |  | (18,105,041 | ) |  |  | 55,353,758 |
Advertiser relationships |  |  | 2,240,000 |  |  |  | (391,984 | ) |  |  | 1,848,016 |  |  |  | 2,240,000 |  |  |  | (332,515 | ) |  |  | 1,907,485 |
Database |  |  | 1,140,000 |  |  |  | (626,183 | ) |  |  | 513,817 |  |  |  | 1,140,000 |  |  |  | (531,183 | ) |  |  | 608,817 |
Subtotal amortizable intangible assets |  |  | 99,717,656 |  |  |  | (33,186,811 | ) |  |  | 66,530,845 |  |  |  | 99,717,656 |  |  |  | (28,235,821 | ) |  |  | 71,481,835 |
Website domain name |  |  | 20,000 |  |  |  | - |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,000 |
Total intangible assets |  | $ | 99,737,656 |  |  | $ | (33,186,811 | ) |  | $ | 66,550,845 |  |  | $ | 99,737,656 |  |  | $ | (28,235,821 | ) |  | $ | 71,501,835 |
Amortization expense for the three months ended March 31, 2021 and 2020 was $4,950,990 and $5,032,724, respectively. No impairment charges have been recorded during for the three months ended March 31, 2021 and 2020.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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