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GOODWILL AND OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 10. GOODWILL AND OTHER INTANGIBLE ASSETS

 

Intangible assets consisted of the following at March 31, 2023 and December 31, 2022:

 

   March 31, 2023   December 31, 2022 
   Gross
value		   Accumulated
amortization		   Net
carrying
value		   Gross
value		   Accumulated
amortization		   Net
carrying
value		 
Amortized intangible assets:                              
Licenses (video solutions segment)  $211,183   $84,488   $126,695   $211,183   $80,378   $130,805 
Patents and trademarks (video solutions segment)   472,077    328,412    143,665    472,077    305,021    167,056 
Sponsorship agreement network (entertainment segment)   5,600,000    1,773,333    3,826,667    5,600,000    1,493,333    4,106,667 
SEO content (entertainment segment)   600,000    237,500    362,500    600,000    200,000    400,000 
Personal seat licenses (entertainment
segment)		   180,081    9,502    170,579    180,081    8,001    172,080 
Client agreements (revenue cycle management segments)   999,034    151,840    847,194    999,034    126,864    872,170 
                               
    8,062,375    2,585,075    5,477,300    8,062,375    2,213,597    5,848,778 
                               
Indefinite life intangible assets:                              
Goodwill (entertainment and revenue cycle management segments)   11,367,514    —    11,367,514    11,367,514    —    11,367,514 
Trade name (entertainment segment)   600,000    —    600,000    600,000    —    600,000 
Patents and trademarks pending
(video solutions segment)		   103,665    —    103,665    56,678    —    56,678 
                               
Total  $20,133,554   $2,585,075   $17,548,479   $20,086,567   $2,213,597   $17,872,970 

 

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 three months ended March 31, 2023 and 2022 was $371,478 and $357,966, respectively. Estimated amortization for intangible assets with definite lives for the next five years ending December 31 and thereafter is as follows:

      
Year ending December 31:    
2023 (April 1, to December 31, 2023)  $1,113,133 
2024   1,432,808 
2025   1,340,312 
2026   856,330 
2027 and thereafter   734,717 
Total  $5,477,300