Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Intangible Assets

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Note 8 - Intangible Assets
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
Note
8:
Intangible Assets
 
Intangible assets consist of the following:
 
    As of June 30, 2018
    Gross Carrying
Amount
  Accumulated
Amortization
  Net Carrying
Value
Amortized intangible assets:                        
Reacquired franchise rights   $
1,758,000
    $
786,884
    $
971,116
 
Customer relationships    
745,000
     
706,500
     
38,500
 
Reacquired development rights    
1,162,000
     
526,348
     
635,652
 
    $
3,665,000
    $
2,019,732
    $
1,645,268
 
 
    As of December 31, 2017
    Gross Carrying
Amount
  Accumulated
Amortization
  Net Carrying
Value
Amortized intangible assets:                        
Reacquired franchise rights   $
1,673,000
    $
657,943
    $
1,015,057
 
Customer relationships    
701,000
     
674,667
     
26,333
 
Reacquired development rights    
1,162,000
     
443,348
     
718,652
 
    $
3,536,000
    $
1,775,958
    $
1,760,042
 
 
Amortization expense was
$120,710
and
$243,774
for the
three
and
six
months ended
June 30, 2018,
respectively. Amortization expense was
$146,897
and
$321,753
for the
three
and
six
months ended
June 30, 2017,
respectively.
 
Estimated amortization expense for
2018
and subsequent years is as follows:
 
2018 (remainder)   $
228,252
 
2019    
456,503
 
2020    
440,007
 
2021    
369,286
 
2022    
139,006
 
Thereafter    
12,214
 
Total   $
1,645,268