Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.20.4
Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets from Continuing Operations
The following is a schedule of intangible assets and goodwill as of December 31, 2020:
  Term Carrying
Value
Accumulated Amortization and Impairment Net Carrying Value 2020
Amortization
Customer list, Google 20 years $ 8,820,000  $ (3,895,500) $ 4,924,500  $ 441,000 
Technology 5 years 3,600,000  (2,820,000) 780,000  720,000 
Customer list, ReTargeter (2) 5 years 1,931,250  (547,188) 1,384,062  386,250 
Customer list, all other 10 years 1,610,000  (1,422,202) 187,798  161,004 
Brand name, ReTargeter (2) 5 years 643,750  (182,396) 461,354  128,750 
Customer relationships 20 years 570,000  (111,625) 458,375  28,500 
Trade names, web properties (1) - 390,000  —  390,000  — 
Intangible assets classified as long-term $ 17,565,000  $ (8,978,911) $ 8,586,089  $ 1,865,504 
Goodwill, total   $ 9,853,342  $ —  $ 9,853,342  $ — 








The following is a schedule of intangible assets and goodwill as of December 31, 2019: 
  Term Carrying
Value
Accumulated Amortization Net Carrying Value 2019
Amortization
Customer list, Google 20 years $ 8,820,000  $ (3,454,500) $ 5,365,500  $ 441,000 
Technology 5 years 3,600,000  (2,100,000) 1,500,000  720,000 
Customer list, ReTargeter (2) 5 years 1,931,250  (160,938) 1,770,312  160,938 
Customer list, all other 10 years 1,610,000  (1,261,198) 348,802  161,004 
Brand name, ReTargeter (2) 5 years 643,750  (53,646) 590,104  53,646 
Customer relationships 20 years 570,000  (83,125) 486,875  28,500 
Tradenames, web properties (1) - 390,000  —  390,000  — 
Intangible assets classified as long-term   $ 17,565,000  $ (7,113,407) $ 10,451,593  $ 1,565,088 
Goodwill, total   $ 9,853,342  $ —  $ 9,853,342  $ — 
___________

(1)The trade names related to our web properties have an indefinite life, and as such are not amortized.
(2)We recorded $2.57 million in intangible assets from the CPT Merger Termination Agreement. An independent valuation of the assets was performed to determine the carrying value of the assets listed above. See Note 1 - Organization and Business.
Schedule of Amortization Expense
Our amortization expense over the next five years and thereafter is as follows:
 
2021 $ 1,865,504 
2022 1,071,294 
2023 984,500 
2024 769,917 
2025 469,500 
Thereafter 3,035,374 
Total $ 8,196,089