| Schedule of Intangible Assets |
Intangible assets consisted of the following:
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December 31, 2020 |
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Gross Carrying
Amount
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Accumulated
Amortization
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Net Carrying
Value
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| Intangible assets subject to amortization: |
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| Reacquired franchise rights |
$ |
3,246,894 |
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$ |
2,107,730 |
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$ |
1,139,164 |
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| Customer relationships |
1,351,975 |
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1,130,800 |
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221,175 |
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| Reacquired development rights |
3,053,201 |
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1,548,534 |
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1,504,667 |
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$ |
7,652,070 |
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$ |
4,787,064 |
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$ |
2,865,006 |
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December 31, 2019 |
|
Gross Carrying
Amount
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|
Accumulated
Amortization
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|
Net Carrying
Value
|
| Intangible assets subject to amortization: |
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| Reacquired franchise rights |
$ |
3,246,494 |
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$ |
1,400,086 |
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$ |
1,846,408 |
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| Customer relationships |
1,255,975 |
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865,478 |
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390,497 |
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| Reacquired development rights |
2,050,481 |
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1,067,595 |
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982,886 |
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$ |
6,552,950 |
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$ |
3,333,159 |
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$ |
3,219,791 |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for 2021 and subsequent years is as follows:
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| 2021 |
$ |
1,713,819 |
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| 2022 |
1,040,666 |
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| 2023 |
90,521 |
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| 2024 |
20,000 |
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| Total |
$ |
2,865,006 |
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| Schedule of Goodwill |
The changes in the carrying amount of goodwill were as follows:
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Corporate Clinic Segment |
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Balance as of December 31, 2019 |
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| Goodwill, gross |
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$ |
4,205,455 |
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| Accumulated impairment losses |
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(54,994) |
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| Goodwill, net |
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4,150,461 |
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| 2020 acquisition |
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475,143 |
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Balance as of December 31, 2020 |
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| Goodwill, gross |
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4,680,598 |
| Accumulated impairment losses |
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(54,994) |
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| Goodwill, net |
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$ |
4,625,604 |
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