| Intangible Assets Disclosure [Text Block] |
| 8. |
Other Intangible Assets |
The following is a summary of the Company’s other intangible assets:
| |
|
Gross |
|
|
Less |
|
|
Net |
|
| |
|
Carrying |
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
73,000 |
|
|
|
7,000 |
|
| Customer relationships |
|
|
80,920 |
|
|
|
34,951 |
|
|
|
45,969 |
|
| Patents |
|
|
21,136 |
|
|
|
16,367 |
|
|
|
4,769 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
3,948 |
|
|
|
1,511 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
136,906 |
|
|
|
59,249 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
136,906 |
|
|
$ |
136,849 |
|
| |
|
Gross |
|
|
Less |
|
|
Net |
|
| |
|
Carrying |
|
|
Accumulated |
|
|
Carrying |
|
| |
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademark and tradenames |
|
$ |
77,600 |
|
|
$ |
- |
|
|
$ |
77,600 |
|
| Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dealer network |
|
|
80,000 |
|
|
|
71,000 |
|
|
|
9,000 |
|
| Customer relationships |
|
|
80,920 |
|
|
|
32,366 |
|
|
|
48,554 |
|
| Patents |
|
|
21,136 |
|
|
|
15,739 |
|
|
|
5,397 |
|
| Noncompete agreements |
|
|
8,640 |
|
|
|
8,640 |
|
|
|
- |
|
| Trademarks |
|
|
5,459 |
|
|
|
3,901 |
|
|
|
1,558 |
|
| Amortizable intangibles, net |
|
|
196,155 |
|
|
|
131,646 |
|
|
|
64,509 |
|
| Total |
|
$ |
273,755 |
|
|
$ |
131,646 |
|
|
$ |
142,109 |
|
Amortization expense for intangible assets was $2,630 and $2,705 for the three months ended June 30, 2022 and 2021, respectively. Amortization expense for intangible assets was $5,260 and $5,410 for the six months ended June 30, 2022 and 2021, respectively. Estimated amortization expense for the remainder of 2022 and each of the succeeding five years is as follows:
| 2022 |
|
$ |
5,260 |
|
| 2023 |
|
|
10,520 |
|
| 2024 |
|
|
7,520 |
|
| 2025 |
|
|
6,075 |
|
| 2026 |
|
|
5,450 |
|
| 2027 |
|
|
5,450 |
|
|