Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.24.0.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets Intangible assets consisted of the following:
December 31, 2023
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 7,385,830  $ 2,926,595  $ 4,459,235 
Customer relationships 1,682,807  1,349,938  332,869 
Assembled workforce 440,844  212,022  228,822 
$ 9,509,481  $ 4,488,555  $ 5,020,926 
December 31, 2022
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 
Schedule of Finite-lived Intangible Assets Amortization Expense
The following is the weighted average amortization period for the Company's intangible assets:
Amortization (Years)
Reacquired franchise rights 5.9
Customer relationships 2.6
Assembled workforce 2.0
     All intangible assets 4.9
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Estimated amortization expense for 2024 and subsequent years is as follows:
2024 $ 1,500,619 
2025 1,100,700 
2026 958,290 
2027 565,521 
2028 454,120 
Thereafter 441,676 
Total $ 5,020,926 
Schedule of Goodwill
The changes in the carrying amount of goodwill were as follows:

Corporate Clinic Segment
Balance as of December 31, 2022
Goodwill, gross 8,548,401
Accumulated impairment losses (54,994)
Goodwill, net 8,493,407
2023 acquisition — 
Balance as of December 31, 2023
Goodwill, gross 8,548,401
Accumulated impairment losses (54,994)
Goodwill reclassified to Held for sale
 (1,140,529)
Goodwill, net 7,352,879