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Note 6 - Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Intangible Assets and Goodwill

Information regarding our intangible assets is as follows:

	Weighted Average Useful Life (Years)		Balance December 31, 2022			Additions			Balance September 30, 2023
Intangible assets with estimated useful lives
Customer relationships		8.0	$	1,090,000		$	-		$	1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(308,217	)		(132,183	)		(440,400	)
Sub-total				901,783			(132,183	)		769,600
Intangible assets with indefinite lives
Trade names		Indefinite		280,000			-			280,000
Net identifiable intangible assets			$	1,181,783		$	(132,183	)	$	1,049,600

	Weighted Average Useful Life (Years)		Balance December 31, 2021			Additions			Balance September 30, 2022
Intangible assets with estimated useful lives
Customer relationships		8.0	$	1,090,000		$	-		$	1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(131,973	)		(132,183	)		(264,156	)
Sub-total				1,078,027			(132,183	)		945,844
Intangible assets with indefinite lives
Trade names		Indefinite		280,000			-			280,000
Net identifiable intangible assets			$	1,358,027		$	(132,183	)	$	1,225,844

As of September 30, 2023, expected amortization expense relating to purchased intangible assets for each of the next five years and thereafter is as follows:

2023	$	44,061
2024		146,307
2025		136,248
2026		136,248
2027		136,248
Thereafter		170,488
Total	$	769,600