| Schedule of Intangible Assets |
Intangible assets consist of the following:
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As of March 31, 2023 |
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Gross Carrying
Amount |
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Accumulated
Amortization |
|
Net Carrying
Value |
| Intangible assets subject to amortization: |
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| Reacquired franchise rights |
$ |
12,881,895 |
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|
$ |
(5,282,762) |
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|
$ |
7,599,133 |
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| Customer relationships |
4,330,365 |
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(2,641,865) |
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|
1,688,500 |
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| Reacquired development rights |
6,754,547 |
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(4,840,442) |
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|
1,914,105 |
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| Assembled workforce |
959,837 |
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(256,399) |
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|
703,438 |
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|
$ |
24,926,644 |
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|
$ |
(13,021,468) |
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|
$ |
11,905,176 |
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As of December 31, 2022 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Intangible assets subject to amortization: |
|
|
|
|
|
| Reacquired franchise rights |
$ |
12,881,895 |
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|
$ |
(4,755,286) |
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|
$ |
8,126,609 |
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| Customer relationships |
4,330,365 |
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(2,352,500) |
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1,977,865 |
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| Reacquired development rights |
6,652,186 |
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(4,712,953) |
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|
1,939,233 |
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| Assembled workforce |
959,837 |
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(136,015) |
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|
823,822 |
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|
$ |
24,824,283 |
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|
$ |
(11,956,754) |
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|
$ |
12,867,529 |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for 2023 and subsequent years is as follows:
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Amount |
| 2023 (remainder) |
$ |
3,045,560 |
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| 2024 |
3,030,576 |
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| 2025 |
1,994,317 |
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| 2026 |
1,677,217 |
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| 2027 |
888,986 |
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| Thereafter |
1,268,520 |
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| Total |
$ |
11,905,176 |
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