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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2023
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, 2023 and 2022:

 

   December 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)  $225,545   $89,887   $135,658   $211,183   $80,378   $130,805 
Patents and trademarks (video solutions segment)   483,521    266,403    217,118    472,077    305,021    167,056 
Sponsorship agreement network (entertainment segment)   5,600,000    2,613,333    2,986,667    5,600,000    1,493,333    4,106,667 
SEO content (entertainment segment)   600,000    350,000    250,000    600,000    200,000    400,000 
Personal seat licenses (entertainment
segment)		   180,081    14,004    166,077    180,081    8,001    172,080 
Website enhancements (entertainment segment)   13,500    —    13,500    —    —    — 
Client agreements (revenue cycle management segments)   999,034    226,768    772,266    999,034    126,864    872,170 
    8,101,681    3,560,395    4,541,286    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)		   1,622    —    1,622    56,678    —    56,678 
                               
Total  $20,070,817   $3,560,395   $16,510,422   $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 years ended December 31, 2023 and 2022 was $1,507,134 and $1,562,558, respectively. Estimated amortization for intangible assets with definite lives for the next five years ending December 31, 2023, and thereafter is as follows:

 

  Year ending
December 31:		 
2024  $1,502,013 
2025   1,409,517 
2026   904,979 
2027   112,965 
2028 and thereafter   611,810 
Total  $4,541,284