Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets consisted of the following:
December 31, 2019
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 3,246,494    $ 1,400,086    $ 1,846,408   
Customer relationships 1,255,975    865,478    390,497   
Reacquired development rights 2,050,481    1,067,595    982,886   
$ 6,552,950    $ 3,333,159    $ 3,219,791   

December 31, 2018
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 1,758,000    $ 921,138    $ 836,862   
Customer relationships 745,000    717,498    27,502   
Reacquired development rights 1,413,316    643,620    769,696   
$ 3,916,316    $ 2,282,256    $ 1,634,060   
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Estimated amortization expense for 2020 and subsequent years is as follows:
2020 $ 1,409,962   
2021 1,212,703   
2022 539,750   
2023 57,376   
Total $ 3,219,791   
Schedule of Goodwill
The changes in the carrying amount of goodwill were as follows:


Corporate Clinic Segment
Balance as of December 31, 2018
Goodwill, gross $ 3,280,139   
Accumulated impairment losses (54,994)
Goodwill, net 3,225,145   
2019 acquisitions 925,316
Balance as of December 31, 2019
Goodwill, gross 4,205,455   
Accumulated impairment losses (54,994)  
Goodwill, net $ 4,150,461