Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.22.4
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
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Intangible assets subject to amortization:
Reacquired franchise rights $ 12,881,895  $ 4,755,286  $ 8,126,609 
Customer relationships 4,330,365  2,352,500  1,977,865 
Reacquired development rights 6,652,186  4,712,953  1,939,233 
Assembled workforce 959,837  136,015  823,822 
$ 24,824,283  $ 11,956,754  $ 12,867,529 
December 31, 2021
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 
Reacquired development rights 4,406,221  3,715,594  690,627 
Assembled workforce 59,311  4,939  54,372 
$ 13,864,403  $ 8,461,013  $ 5,403,390 
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 5.8
Customer relationships 2.6
Reacquired development rights 4.0
Assembled workforce 2.0
     All intangible assets 4.6
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense for 2023 and subsequent years is as follows:
2023 $ 4,080,779 
2024 3,006,408 
2025 1,970,149 
2026 1,653,049 
2027 888,625 
Thereafter 1,268,519 
Total $ 12,867,529 
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