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Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2024

Note 5 – Intangible Assets and Goodwill

The following is a schedule of intangible assets and goodwill as of December 31, 2024:

	Term	Carrying Value		Accumulated Amortization and Impairment			Net Carrying Value		2024 Amortization

Customer list, Google	20 years	$	8,820,000	$	(5,659,500	)	$	3,160,500	$	441,000
Customer list	5 years		1,931,250		(1,931,250	)		—		225,312
Brand name	5 years		643,750		(643,750	)		—		75,104
Customer relationships	20 years		570,000		(225,625	)		344,375		28,500
Trade names, web properties	-		390,000		—			390,000		—
Intangible assets classified as long-term		$	12,355,000	$	(8,460,125	)	$	3,894,875	$	769,916

Goodwill, total		$	9,853,342	$	—		$	9,853,342	$	—

The following is a schedule of intangible assets and goodwill as of December 31, 2023:

	Term	Carrying Value		Accumulated Amortization			Net Carrying Value		2023 Amortization
Customer list, Google	20 years	$	8,820,000	$	(5,218,500	)	$	3,601,500	$	441,000
Technology	5 years		3,600,000		(3,600,000	)		—		—
Customer list	5 years		1,931,250		(1,705,938	)		225,312		386,250
Customer list, all other	10 years		1,610,000		(1,610,000	)		—		—
Brand name	5 years		643,750		(568,646	)		75,104		128,750
Customer relationships	20 years		570,000		(197,125	)		372,875		28,500
Trade names, web properties (1)	-		390,000		—			390,000		—
Intangible assets classified as long-term		$	17,565,000	$	(12,900,209	)	$	4,664,791	$	984,500

Goodwill, total		$	9,853,342	$	—		$	9,853,342	$	—

___________

(1)

The trade names related to our web properties have an indefinite life, and as such are not amortized.

Our amortization expense over the next five years and thereafter is as follows: