| Schedule of Intangible Assets |
Intangible assets consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2023 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Intangible assets subject to amortization: |
|
|
|
|
|
| Reacquired franchise rights |
$ |
12,881,894 |
|
|
$ |
(5,282,762) |
|
|
$ |
7,599,132 |
|
| Customer relationships |
4,330,365 |
|
|
(2,641,865) |
|
|
1,688,500 |
|
| Assembled workforce |
959,837 |
|
|
(256,399) |
|
|
703,438 |
|
|
$ |
18,172,096 |
|
|
$ |
(8,181,026) |
|
|
$ |
9,991,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of 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 |
|
|
| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for 2023 and subsequent years is as follows:
|
|
|
|
|
|
|
Amount |
| 2023 (remainder) |
$ |
2,706,511 |
|
| 2024 |
2,578,510 |
|
| 2025 |
1,542,251 |
|
| 2026 |
1,225,152 |
|
| 2027 |
670,120 |
|
| Thereafter |
1,268,526 |
|
| Total |
$ |
9,991,070 |
|
|