Note 3 - Intangible Assets

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

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 June 30, 2022, intangible assets consisted of the following:

	Patents			Trade Name			Technology & Software			Customer Relationships			Total
Gross carrying amount	$	16,000		$	831,922		$	615,053		$	4,883,789		$	6,346,764
Accumulated amortization		(16,000	)		(831,922	)		(615,053	)		(1,920,678	)		(3,383,653	)
	$	-		$	-		$	-		$	2,963,111		$	2,963,111

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

Amortization expense of intangible assets for the three months ended June 30, 2022 and 2021 was $78,472 and $125,146, respectively, and for the six months ended June 30, 2022 and 2021 was $160,511 and $246,541, respectively.