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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS

 

Intangible assets consisted of the following at December 31, 2022 and 2021:

  

   December 31, 2022   December 31, 2021 
   Gross
value		   Accumulated
amortization		   Net
carrying
value		   Gross
value		   Accumulated
amortization		   Net
carrying
value		 
Amortized intangible assets:                              
Licenses (video solutions segment)  $211,183   $80,378   $130,805   $194,286   $65,578   $128,708 
Patents and trademarks (video solutions segment)   472,077    305,021    167,056    493,945    233,471    260,474 
Sponsorship agreement network (entertainment segment)   5,600,000    1,493,333    4,106,667    5,600,000    373,333    5,226,667 
SEO content (entertainment segment)   600,000    200,000    400,000    600,000    50,000    550,000 
Personal seat licenses (entertainment
segment)		   180,081    8,001    172,080    201,931    2,244    199,687 
Client agreements (revenue cycle management segments)   999,034    126,864    872,170    —    —    — 
                               
    8,062,375    2,213,597    5,848,778    7,090,162    724,626    6,365,536 
                               
Indefinite life intangible assets:                              
Goodwill (entertainment and revenue cycle management segments)   11,367,514    —    11,367,514    9,931,547    —    9,931,547 
Trade name (entertainment segment)   600,000    —    600,000    600,000    —    600,000 
Patents and trademarks pending
(video solutions segment)		   56,678    —    56,678    5,430    —    5,430 
                               
Total  $20,086,567   $2,213,597   $17,872,970   $17,627,139   $724,626   $16,902,513 

 

Patents and trademarks pending will be amortized beginning at the time they are issued by the appropriate authorities. If issuance of the final patent or trademark is denied, then the amount deferred will be immediately charged to expense.

 

Amortization expense for the years ended December 31, 2022 and 2021 was $1,562,558 and $563,490, respectively. Estimated amortization for intangible assets with definite lives for the next five years ending December 31, 2022, and thereafter is as follows:

 

Year ending December 31:    
2023  $1,486,473 
2024   1,435,915 
2025   1,343,420 
2026   859,438 
2027 and thereafter   723,532 
Total  $5,848,778