GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

SCHEDULE OF IMPAIRMENT OF GOODWILL

The following table rolls forward the Company’s goodwill balance for the periods ending December 31, 2023 and 2022 exclusive of discontinued operations.

	Goodwill
December 31, 2021	$	10,050,277
Goodwill recognized in connection with Barra acquisition on April 26, 2022		4,236,822
December 31, 2022		14,287,099
Goodwill impairment recognized as of December 31, 2023		(7,594,000	)
December 31, 2023	$	6,693,099

	Goodwill
December 31, 2021	$	10,050,277
Goodwill recognized in connection with Medigap acquisition		19,199,008
Goodwill recognized in connection with Barra acquisition		4,236,822
Goodwill impairment (Medigap) during the year-ended December 31, 2022		(14,373,374	)
December 31, 2022		19,112,733
Goodwill impairment (Medigap) during the year ended December 31, 2023		(4,825,634	)
Goodwill impairment recognized as of December 31, 2023		(7,594,000	)
December 31, 2023	$	6,693,099

 

SCHEDULE OF INTANGIBLE ASSETS AND WEIGHTED-AVERAGE REMAINING AMORTIZATION PERIOD

The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of December 31, 2023:

	Weighted Average Remaining Amortization period (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name and trademarks		1.5	$	1,807,189	$	(1,320,939	)	$	486,250
Internally developed software		3.2		1,798,922		(650,029	)		1,148,893
Customer relationships		8.0		11,922,290		(3,193,629	)		8,728,661
Purchased software		0.3		667,206		(618,418	)		48,788
Video Production Assets		-		50,000		(50,000	)		-
Non-competition agreements		0.9		3,504,810		(2,874,645	)		630,165
Trade name and trademarks			$	19,750,417	$	(8,707,660	)	$	11,042,757

The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of December 31, 2022:

	Weighted Average Remaining Amortization period (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name and trademarks		4.4	$	1,806,188	$	(969,241	)	$	836,947
Internally developed software		4.1		1,635,178		(287,990	)		1,347,188
Customer relationships		9.0		11,922,290		(2,076,086	)		9,846,204
Purchased software		0.4		665,137		(581,497	)		83,640
Video Production Assets		0.0		50,000		(50,000	)		-
Non-competition agreements		1.9		3,504,810		(2,179,420	)		1,325,390
			$	19,583,603	$	(6,144,234	)	$	13,439,369

SCHEDULE OF AMORTIZATION EXPENSE OF ACQUIRED INTANGIBLES ASSETS

The following table reflects expected amortization expense as of December 31, 2023, for each of the following five years and thereafter:

Years ending December 31,	Amortization Expense
2024	$	2,195,191
2025		1,801,235
2026		1,532,267
2027		1,196,989
2028		1,097,825
Thereafter		3,218,683
Total	$	11,042,757