Intangible Asset - Customer List |
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| INTANGIBLE ASSET - CUSTOMER LIST |
Wildman Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $2,253,690. The intangible asset - customer list is amortized over 10 years. At December 31, 2022 and 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of $299,912 and $69,583, respectively.
Amortization expense related to intangible asset - customer list was $211,584 and $254,812 for the years ended December 31, 2022 and 2021.
Estimated future amortization expense for the years:
G.A.P. Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $2,275,290. The intangible asset - customer list is amortized over 10 years. At December 31, 2022 and 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of zero.
Amortization expense related to intangible asset - customer lists was $208,571 and zero for the years ended December 31, 2022 and 2021, respectively.
Estimated future amortization expense for the years:
Trend Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $1,659,831. The intangible asset - customer list is amortized over 10 years. At December 31, 2022 and 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of zero.
Amortization expense related to intangible asset - customer lists was $55,328 and zero for the years ended December 31, 2022 and 2021, respectively.
Estimated future amortization expense for the years:
Premier Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $1,032,600. The intangible asset - customer list is amortized over 10 years. At December 31, 2022 and 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of zero.
Amortization expense related to intangible asset - customer lists was zero for the years ended December 31, 2022 and 2021.
Estimated future amortization expense for the years:
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