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GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 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 June 30, 2023 and December 31, 2022:

 

   June 30, 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)  $215,071   $86,212   $128,859   $211,183   $80,378   $130,805 
Patents and trademarks (video solutions segment)   374,693    197,089    177,604    472,077    305,021    167,056 
Sponsorship agreement network (entertainment segment)   5,600,000    2,053,333    3,546,667    5,600,000    1,493,333    4,106,667 
SEO content (entertainment segment)   600,000    275,000    325,000    600,000    200,000    400,000 
Personal seat licenses (entertainment
segment)		   180,081    11,003    169,078    180,081    8,001    172,080 
Client agreements (revenue cycle management segments)   999,034    176,816    822,218    999,034    126,864    872,170 
                               
    7,968,879    2,799,453    5,169,426    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)		   66,426    —    66,426    56,678    —    56,678 
                               
Total  $20,002,819   $2,799,453   $17,203,366   $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 June 30, 2023 and 2022 was $374,714 and $358,944, respectively, and $745,150 and $716,910, for the six months ended June 30, 2023 and 2022, 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 (July 1, to December 31, 2023)  $753,931 
2024   1,457,745 
2025   1,365,249 
2026   867,722 
2027 and thereafter   724,779 
Total  $5,169,426