Note 6 - Intangible Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 6. 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 intangible assets from past business combinations.

At December 31, 2021, intangible assets consisted of the following:

	Patents			Trade Name			Technology & Software			Customer Relationships			Total
Gross carrying amount	$	16,000		$	846,186		$	624,162		$	4,963,860		$	6,450,208
Accumulated amortization		(16,000	)		(843,240	)		(624,162	)		(1,791,608	)		(3,275,010	)
	$	-		$	2,946		$	-		$	3,172,252		$	3,175,198

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 years ended December 31, 2021 and 2020 was $490,567 and $458,915, respectively.

Amortization of intangible assets for the next five years ending December 31 are as follows:

Year Ended December 31,
2022		321,650
2023		318,704
2024		318,704
2025		318,704
2026		318,704
Total 5 year amortization	$	1,596,466