Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.23.3
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets Intangible assets consisted of the following:
December 31, 2022
(As Restated)
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 12,881,894  $ 4,755,286  $ 8,126,608 
Customer relationships 4,330,365  2,352,500  1,977,865 
Assembled workforce 959,837  136,015  823,822 
$ 18,172,096  $ 7,243,801  $ 10,928,295 

December 31, 2021
(As Restated)
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 6,795,865  $ 3,153,037  $ 3,642,828 
Customer relationships 2,603,006  1,587,443  1,015,563 
Assembled workforce 59,311  4,939  54,372 
$ 9,458,182  $ 4,745,419  $ 4,712,763 
Schedule of Finite-lived Intangible Assets Amortization Expense
The following is the weighted average amortization period for the Company's intangible assets (as restated):
Amortization (Years)
Reacquired franchise rights 5.8
Customer relationships 2.6
Assembled workforce 2.0
     All intangible assets 4.8
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense for 2023 and subsequent years is as follows (as restated):
2023 $ 3,643,736 
2024 2,578,510 
2025 1,542,251 
2026 1,225,152 
2027 670,120 
Thereafter 1,268,526 
Total $ 10,928,295 
Schedule of Goodwill
The changes in the carrying amount of goodwill were as follows:

Corporate Clinic Segment
Balance as of December 31, 2021
Goodwill, gross $ 5,140,197 
Accumulated impairment losses (54,994)
Goodwill, net 5,085,203 
2022 acquisition 3,408,204 
Balance as of December 31, 2022
Goodwill, gross 8,548,401
Accumulated impairment losses (54,994)
Goodwill, net $ 8,493,407