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Note 3 - Intangible Assets

9 Months Ended

Sep. 30, 2021

Intangible Assets Disclosure [Text Block]

Note 3. Intangible Assets

The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping.

In addition, the Company has various other intangibles from past business combinations.

At September 30, 2021, intangible assets consisted of the following:

	Patents			Trade Name			Technology & Software			Customer Relationships			Total
Gross carrying amount	$	16,000		$	844,169		$	622,874		$	4,952,537		$	6,435,580
Accumulated amortization		(16,000	)		(799,022	)		(622,874	)		(1,708,856	)		(3,146,752	)
	$	-		$	45,147		$	-		$	3,243,681		$	3,288,828

At December 31, 2020, intangible assets consisted of the following:

	Patents			Trade Name			Technology & Software			Customer Relationships			Total
Gross carrying amount	$	16,000		$	839,816		$	620,094		$	4,928,102		$	6,404,012
Accumulated amortization		(16,000	)		(668,929	)		(620,094	)		(1,465,569	)		(2,770,592	)
	$	-		$	170,887		$	-		$	3,462,533		$	3,633,420

Amortization expense of intangible assets for the three months ended September 30, 2021 and 2020 was $122,054 and $115,439, respectively, and for the nine months ended September 30, 2021 and 2020 was $368,595 and $340,875, respectively.