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Note 6 - Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 6. INTANGIBLE ASSETS

The Company had approximately $2.8 million and $3.6 million in intangible assets, net of amortization, at June 30, 2021 and December 31, 2020, respectively. Shown below are the details of the components that represent these balances.

Intangible assets consisted of the following as of June 30, 2021

	*Cost*		*Accumulated Amortization*			*Carrying Value*		*Amortization Life and Method*

IP Software	$	2,378,248	$	(2,367,723	)	$	14,406	3 years - straight-line
Portfolios and Client Lists		7,739,665		(7,151,144	)		588,521	4 years - straight-line
Client Acquisition Costs		9,149,668		(6,950,968	)		2,198,699	4 years - straight-line
PCI Certification		449,000		(449,000	)		-	3 years - straight-line
Trademarks		703,586		(703,586	)		-	3 years - straight-line
Domain Names		437,810		(437,810	)		-	3 years - straight-line
Total	$	20,857,976	$	(18,060,231	)	$	2,801,626

Intangible assets consisted of the following as of December 31, 2020

	*Cost*		*Accumulated Amortization*			*Carrying Value*		*Amortization Life and Method*

IP Software	$	2,378,248	$	(2,321,843	)	$	40,185	3 years - straight-line
Portfolios and Client Lists		7,714,665		(6,776,317	)		938,348	4 years - straight-line
Client Acquisition Costs		8,841,617		(6,224,824	)		2,616,794	4 years - straight-line
PCI Certification		449,000		(449,000	)		-	3 years - straight-line
Trademarks		703,586		(703,586	)		-	3 years - straight-line
Domain Names		437,810		(437,810	)		-	3 years - straight-line
Total	$	20,524,925	$	(16,913,379	)	$	3,595,326

Amortization expense for the intangible assets was approximately $452,000 and $679,000 for the three months ended June 30, 2021 and 2020, respectively. Amortization expense for the six months ended June 30, 2021 and 2020 was approximately $1.1 million and $1.4 million, respectively.

The following table presents the estimated aggregate future amortization expense of intangible assets:

2021 (remainder of year)	$	336,867
2022		673,735
2023		673,735
2024		671,334
2025		445,955
Balance June 30, 2021	$	2,801,626