Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.20.1
Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2019
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, 2019:
  Term Carrying
Value
Accumulated Amortization and Impairment 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   
Trade names, 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    $ —   

The following is a schedule of intangible assets and goodwill as of December 31, 2018: 
  Term Carrying
Value
Accumulated Amortization Net Carrying Value 2018
Amortization
Customer list, Google 20 years $ 8,820,000    $ (3,013,500)   $ 5,806,500    $ 441,000   
Technology 5 years 3,600,000    (1,380,000)   2,220,000    720,000   
Customer list, all other 10 years 1,610,000    (1,100,194)   509,806    161,004   
Customer relationships 20 years 570,000    (54,625)   515,375    28,500   
Tradenames, web properties (1) - 390,000    —    390,000    —   
Brand 1 year 121,000    (121,000)   —    10,083   
Non-competition agreements 1 year 69,000    (69,000)   —    5,750   
Intangible assets classified as long-term   $ 15,180,000    $ (5,738,319)   $ 9,441,681    $ 1,366,337   
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:
 
2020 $ 1,865,504   
2021 1,865,504   
2022 1,071,294   
2023 984,500   
2024 769,917   
Thereafter 3,504,874   
Total $ 10,061,593