Goodwill

12 Months Ended

Dec. 31, 2022

Legal Proceedings [Abstract]

Goodwill

6. Goodwill

In connection with the ABC transaction, the Company has evaluated its Goodwill balances as of December 31, 2022 and has determined that there is an impairment of Goodwill related to its Health reporting unit. The impairment is primarily due to the ABC filing.

As a result of this impairment, the Company has recognized a non-cash charge of $2,921,958 in the year ended December 31, 2022 in the Consolidated Statements of Operations. The charge was recorded as part of Other Income in the Company’s Consolidated Statements of Operations and has no impact on its cash flow, liquidity, or compliance with debt covenants.

Additionally, the Company recorded Goodwill in connection with its acquisitions, the total Goodwill acquired in 2022 was $35,299,136.

The Company also updated the carrying value of the Goodwill in its Consolidated Balance Sheets to reflect the additional Goodwill and the impairment charge. The carrying value of Goodwill amounts $38,900,413, the changes in the carrying value of Goodwill for the period ended December 31, 2022 are as noted in the tables below:

	Carrying Value
Balance as of December 31, 2020	$	6,610,557
Goodwill acquired during the period		2,076,409
Balance as of December 31, 2021	$	8,686,966
Goodwill acquired during the period		35,299,136
Impairment during the year		(2,921,958	)
Reassignment of Goodwill to Assets held for sale		(2,163,731	)
Balance as of December 31, 2022	$	38,900,413