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Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

3. Intangible Assets, Net

Intangible assets, net consisted of the following for the periods presented:

	December 31,
	2023							2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	50,000	$	(36,250	)	$	13,750	$	50,000	$	(33,750	)	$	16,250
Trade names, trademarks, product names, URLs		1,022,425		(644,390	)		378,035		1,022,425		(562,114	)		460,311
Internally developed software		4,180,005		(2,478,408	)		1,701,597		4,180,005		(2,165,550	)		2,014,455
Subscriber/customer relationships		3,553,102		(2,942,007	)		611,095		3,553,102		(2,517,307	)		1,035,795
Total intangible assets	$	8,805,532	$	(6,101,055	)	$	2,704,477	$	8,805,532	$	(5,278,721	)	$	3,526,811

During the year ended December 31, 2023, in connection with the previously acquired ManyCam assets and pursuant to the securities purchase agreement related to such asset acquisition, the Company made an earn-out payment of $85,000 because the sales of the ManyCam software, less chargebacks and refunds, in the six-month period following the closing of the acquisition exceeded $600,000 but were less than $700,000.

Amortization expense for the years ended December 31, 2023 and 2022 was $822,334 and $601,264, respectively. The aggregate amortization expense for each of the next five years and thereafter is estimated to be $821,687 in 2024, $568,529 in 2025, $382,133 in 2026, $382,133 in 2027, $382,133 in 2028, and $167,862 thereafter.